1. We're in a planned economy right now. The fight over bailouts is a fight over what the economy looks like on the other side when we come out.
2. At this point we are simply making social choices about which enterprises we find valuable and which ones we don't. The entire travel industry, aerospace industry, retail is up first. But advertising will collapse, which means the civic infrastructure of media/Yelp/etc. And...
3. ... much of the energy sector, airlines, hotels, services, real estate, commodities, etc... all of it is just going to zero for a time, as well as the banks financing it. That means we choose through our government what to preserve and expand, and what to kill.
4. It also means that we'll need to radically shrink private unregulated capital like hedge funds and private equity. The government runs a planned economy by taking over the financial sector. This happens through lender of last facilities, bailouts, etc.
