Of course not. Unfortunately this was (obviously) written before the current "rescue" had been solidified, so it's not as topical as one might have hoped. Oh well, the current bailout is a bad idea too.
"All of this means that while the government has been artificially propping up the economy and 'stimulating' it through artificial means, peoples’ perceptions of economic life have been transformed into that which was intended by the central planners: the economic crush is over, our government cured all the problems, things are great again, go back to your old ways. Rinse and repeat."