If you read my previous post, I think I expressed my frustration well, but did not attempt to write critically or objectively about what has happened in Washington yesterday with the defeat of the Bailout Bill in the House of Representatives.

David Brooks, NY Times columnist, however, wrote that critical and objective essay, in this morning’s Times.  Here is the link: http://www.nytimes.com/2008/09/30/opinion/30brooks.html?hp.  This is his most insightful and cogent remark:  I’ve spoken with several House Republicans over the past few days and most admirably believe in free-market principles. What’s sad is that they still think it’s 1984. They still think the biggest threat comes from socialism and Walter Mondale liberalism. They seem not to have noticed how global capital flows have transformed our political economy.

Not only do the “free-markets or death” politicians think it’s 1984, I fear that most economists and their theoretical models, think it’s 1954.  We cannot solve the 21st Century’s economic needs with Post-WWII economic models.

Read Brooks’ column.  It won’t necessarily make you feel better, but you’ll know that at least somebody gets it and maybe the light switch will turn on in enough minds in the House of Representatives to provide genuine leadership!