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September 29, 2008

Steve Forbes on Michael Medved: "I’ve never been an alarmist…I’ve never seen a situation as dark as it is today...people genuinely don't understand the magnitude of what is before us."

Like I said in the comments: I am not an economic alarmist myself and I get my take from people who aren't economic alarmists.

So when they suddenly become economic alarmists, I'm alarmed.

Incidentally, don't mislead yourselves into thinking I'm unaware that I'm taking an unpopular position and it could cost me traffic, and readers, and therefore salary.

100-1 against. I know this. I know this is a Schiavo-level split, the same sort of split that caused readers to abandon some blogs.

So I do know that I could actually gain traffic and readers by rah-rahing the KILL THE BILL position.

But I can't. Because I honestly think most conservatives are very wrong on this.

And not only are they very wrong, they're very wrong with possibly dire consequences. And not only that, there's the possibility that all faith in capitalism will crater and we'll have three generations of real socialism.

I have to be honest. I cannot be 100% sure, but I'm sure enough that I'll risk losing a lot of readers: We are in trouble. There is a chance that a crisis will not lead to a vicious-circle deleveraging and halt to a lot of economic activity, but the odds that it will seem much greater.

So I'm not taking this position to annoy people. Or because I have money in stocks. I don't own a single stock. And my credit's bad, so, honestly, this kind of doesn't really affect me. I've been on a pure cash personal economy for years.

I'm taking this position because I think it's right.

H/t to Kensington for the quote.

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posted by Ace at 05:35 PM

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