Reply #52: Lol, uncertainty from DeLong is worrying, I agree

[charlie]

That's a guy who's never been afraid to make unqualified assertions. Bushco made him a scrapper.

I get my doses of reassurance from Dean Baker. He's still angry as a hornet, so he's perfectly willing to bawl YOU MORONS ARE DOING IT ALL WRONG when the Fed/Treasury makes a move. But he doesn't waste a lot of time flailing, either. Of course he's not ebullient, but he takes the time occasionally to remind us that there ARE differences that can make a difference in our situation. Money (credit) can be mobilized, moved, and disbursed in an instant, an advantage that can ameliorate problems before they become crises, which is something we couldn't do before. Our manufacturing infrastructure is huge (far larger than anyone else's, despite off-shoring and the popular perception that it's been entirely gutted) and won't have diminished a whit if Wall Street crashes through the floor. We can still avail ourselves of this manufacturing strength if we stay mindful of the importance of protecting it and make credit lines staying open to this sector a matter of primary importance. We're hooked up like never before, with millions of expert minds and eyes watching and able to respond in real time to developments. Of course, all this makes little difference when there are deranged idiots gumming up the works, but these tools will still be there in a month and a half.