BAILOUT: Equivalent to a 2nd American Revolution?

Stocks are up...great news, right? Everything's going to be OK....Right? Optimism is a lovely thing. but Realism is better. Few on the boob tube are capable of being realistic about the real state of the credit system and thus the economic system and thus society. Here's the reality: Wall Street created exponentially more paper assets than there are hands to hold them and it can't sell off all these assets at the same time without causing mind-boggling deflation. (Imagine an auction where only one person shows up and there is no minimum price.) Lower prices are not a bad thing, but lower prices with a massive overhang of super-inflated debts that have to be paid back is. A very bad thing. Two serious economists who warned about the current calamity well in advance and who don't have a dog in the fight (i.e. over-priced assets they hope to sell to optimists) explain the potential scale of the consequences facing the world . 10/21/08: PBS NEWS HOUR Interview with Nassim Nicholas Taleb, famous economist and author of "The Black Swan" and Dr. Mandelbrot, professor of Mathematics. Both say that the present economy more serious than the Great Depression, and the economy during the American Revolution. Source: http://www.brasschecktv.com/page/542.html