Government Response To The Bond Market Bubble Popping

So now that Bernanke has driven the markets into a total tailspin by suggesting that he might not go on printing unbacked trillions of dollars forever, you can bet that the DC political consultants brilliant people in the Senate are planing a rescue of something or other. After all, these guys and their staffs are all members of David Brooks' meritocracy. They got the test scores and grades and we didn't.

Having fixed health care, won the war on poverty, saved the American farmer, liberated undocumented workers and firmly disciplined Wall Street and the banks, it's a sure thing that the likes of John McCain, Lindsay Graham, Chuck Shumer and Harry Reid will rally their squads platoons brigades of Ivy League meritocrats and rescue us all with another bill.

This time there will be no half-measures. Expect a 24,000 page bill, at least.