Au contraire, Mr. Pearlstein of the Washington Post, we on Main Street (not to mention those of us who live on side streets and back alleys), do get it. It is the Washington and Wall Street elites that don’t get it. They are like the French aristocracy in 1789, or the Russian aristocracy in 1917 — utterly clueless about what is going on with ordinary people, and totally unwilling to admit their responsibility for the problems they have created with their greed and corruption.
If the government and Wall Street wanted us to trust them at this late date regarding the bail out, then they should have been more trustworthy to start with. And they should have had a better plan.
I know its hard for people inside the beltway to understand this, but people’s willingness to buy “Big Lies” from government and Wall Street is limited. Wall Street’s sense of entitlement to everlasting profits, and socializing all losses, is economic infantilism, and calling upon Big Mommie government will only make the inevitable crash even worse.
Let them eat hamburger on Wall Street and inside the DC beltway for a change. It might do them some good.