Event Horizon
If you missed it, be sure to read Allan Meltzer in yesterday's WSJ.
posted by The Cunning Realist at Saturday, October 24, 2009
AN OASIS IN A WORLD OF HACKS, HUSTLERS, AND HIRED SPIN
posted by The Cunning Realist at Saturday, October 24, 2009
14 Comments:
No comments, I see. With links like this, CR is driving away the formely spitting angrt, currently self-satisfied lefties that thought he was a fellow traveler.
In our current bizzare hyperpartisan climate, articles like this that rightly say both parties are to blame for our fiscal crises have a very limited audience.
The idiot talking heads of the left and right and their rabid followers remind me of football hooligans ready to rumble to support their team
Yes... That is correct. Obama has been a disaster. I knew he was going to be nothing but a smoother GWB. He is serving wall street and military interests far more ruthlessly and effectively than McCain could have ever dreamed of. Our "betters" must be pleased with themselves.
It wasn't McCain that the voters rallied against, it was his choice of running mates.
Blame Obama all you want, but he didn't create this mess, and the sane among us know this. FOX news own recent polls show that the public blames the Bush admin, and rightly so, for this boondoggle. Hell, it goes back to Reaganomics for that matter.
I'm willing to give Obama more time. I am neither for the left or the right. What I am is a very concerned American with 2 children in college, wondering what is going to be left of our job market by the time they graduate.
I imagine they will be living and working overseas, as that is where the jobs are.
Isn't it about time that people stopped with the "left" and "right" meme and started thinking as American again?
Actually I'm a flaming leftie and I liked the WSJ article. I didn't comment up to this date because I thought the article basically re-iterated numerous points that TCR has made in the past. The Right wants to label all Lefties as people who enjoy spending infinite amounts of government money, but that's not our philosophy, nor our strategy, nor the way we think of ourselves. Fiscal stupidity is fiscal stupidity in any Administration.
I voted for Obama, not exactly with high hopes, I had a lot of trepiation that I documented elsewhere. But I was hoping for competence and some degree of prudence. Instead what I've seen from Obama is basically a continuation of Bush policies -- as Goldhorder notes -- two wars, secret prisons, and of course a seamless continuation of financial policy -- only with better grammar.
A lot of the Lefties I know are extremely disillusioned with his Administration. Six months ago, there were still a lot of people who worshiped him with a "cult of personality" rather similar to the cult of those 30%-ers who told us for the past 8 years that Dubya is a Man of God who Can Do No Wrong. (I still know several of those; as I've said here several times, they're among my relatives. Some of them are big Palin fans now.) But there are many on the Left now who, contrary to the first Anonymous, are quite willing to criticize him... mainly because his policies are so much like Bush's. I mean, compare what Matt Taibbi wrote about Barack before the election versus anything he's written in the past 6 months. Not exactly what the first Anonymous has in mind, I'll wager. This stuff about Obama being Socialist when he continues trillion-dollar bailouts of gambling banks, and cuts deals to protect Big private Pharma and Big private Insurance... this jabbering on the right is simply delusional, it's divorced from reality, there's no other word for it.
But as Anonymous above me implies, really at this point this is not a left/right issue anymore. It's the total capture of government by big-money interests. Your value to the nation right now is directly proportional to the size of the company you own. That's not socialism, that's not communism, and it's certainly not democracy. In a scholarly poly-sci sense, I could use the "f-" word, but I don't want to give the Teabaggers any common ground here. When they use that word, they have no idea what they're talking about.
Anonymous 1 here, again. Mr. Dalton, you make some fine points.
I see sort of a collusion of government and big money organized interests - largely corporate (particularly finance) but also labor (teachers unions no help in fixing education)and others. Defense industry big-time.
They control the law-makers in seeking rent. Bones are thrown to voters. The 65th to 99th income brackets pay for most of it. Or it is borrowed from China, Saudi, etc.
I'm not seeing a solution
I don't see a solution
They control the politicia
Thank you, Anon-1. If more people on the Right _and_ Left saw it as clearly as you do, and were willing to drop the demonization for a little while, there might be a solution. Unfortunately, right now, there isn't. I think we're all just going to blunder along until we re-learn the lesson of hubris...
American exceptionalism will come to an end. Anon2 might think I'm insane but remember... I'm the insane person that has been posting about buying gold since 2001. Obama is GWB on steroids. He is America's worst nightmare. Not because he is persuing worse policies than Bush. But because he can persue Bush's policies more ruthlessly and deadly (for middle eastern people) than GWB ever could. Americans like Anon2 are "the good Germans" supporting their country no matter what monsterously evil acts they commit. As HRC told the Pakistanis... Drone killing is no big deal it is "not terrorism". We are bombing them for their own good. If we kill 10s of thousands and displace millions in the process it is just a pinch of collateral damage. A small price to pay for the glorious benefits of us military occupation. Lol. If you have children and r not teaching them mandarin then you are a fool
Ohhh... As far as teachers unions. They are why we have no hope. Our 1 room school houses (which were increbidly effective) were replaced by the prussian model of education slowly over the years... Starting 90 years ago. John taylor gotto.. The underground history of american education... Read it. It is why we have no hope until we are a dying starving country... People will have to think different at that point. Hunger has a way of doing that. Lol
Anon2 here, Mr. Daulton;
I always enjoy reading your comments, and quite agree with your post above. I have no idea what it will take for all of us to realize that we need to effect change, not the Obama change, but real change in this country. As long as the pols can keep screaming divide, divide, they will continue to drive the narrative. I have no idea how to start a revolution, but that is certainly what this country needs right now.
As for Goldhorder, you know nothing about me, and to state that I am a "good German" with what little insight you garnered from my one post, is patently ridiculous.
I am angry, disillusioned, and befuddled, and not just by the current economic mess we are in, but by the political climate, as well as the mindset, of so many who think just because they have theirs that they will be just fine. What is going to be left to be had in the end? There are no pockets in your pine box. Hoard your gold if you must, but please understand that there are those of us who do detest what is going on (the drones, the illegal wars, the war profiteering, the hatred of the brown people, the list is endless) but we still must make a life for ourselves as well as take care of our children and ailing, Alzheimer ridden in-laws. There is no leaving for China, Mexico, or anywhere else.
Anon2... I just can't stand Obama worship. Your endorsement of him is why we have no hope. Me... Have passport will travel. Many ways a roll of gold coins can be snuck out of the country.
ALOHA !!
From Meltzer ... "While Chinese government purchases of our debt may delay a dollar and debt crisis, they also delay any effective program to reduce the size of that crisis. It is far better to begin containing the problem before we blow a hole in the dollar and start another downturn."
Nobody will call a spade a spade! It is quite obvious that a US Dollar is backed by DEBT, so therefore a US Dollar is a "debt derivative", so when you see the phrase "debt crisis" you must always replace it in your mind with the more accurate phrase "monetary crisis". There must be a law in America's financial reporting media that the phrase "monetary crisis" is verbotten!
What Meltzer and many other fail to point out is that America has been in a "monetary crisis" for 96 years now, right under our noses, ever since the US FED was created in 1913. Otherwise prices on a 1960 Denny's menu would be nearly the same today!
You do not need a Harvard MBA to figure that out ... or do you?
In case you have never seen a 1960 menu here is one.
LINK: http://www.nowandfutures.com/d2/1960_WoolworthMenu.pdf
Who are these Obama-worshippers? I have never met one. They seem to be a hallucination brought on by watching to much manufactured television "news."
I voted for him but I'm no worshiper. I don't understand how anyone on either side can expect him to have everything fixed by now. We had years and years of policies designed to kill off our economy, starting with Reagan and running through all the successive administrations. It all can't be fixed overnight, or possibly not at all.
ALOHA !!
No one man can fix this. Look at California ... even the Terminator cannot fix California! You and me, WE THE PEOPLE, have to get rid of the US FED to fix it and adopt a more sound monetary system based on something other than DEBT! So far Obama is increasing the DEBT SERVICE and putting Goldman Sachs in charge of everything financial, including the SEC, which sounds a lot like what the prior Goldman Sachs hooker did in the Oval Office.
Obama and Congress have traded the representation of 300 million Americans for the favor and financial rewards of one private cartel of private banks ... the US FED.
WHAT CHANGE? All we ever do is vote more and more debt which brings unending crisis!
We as voters have to abandon the 100 year old TWO PARTY POLITICAL MONOPOLY which is supported by the MONEY MONOPOLY.
CRISIS-R-US ...
Yeah I don't a real comment but I saw it and was very very interesting in always, except the part of the joke, teh abd joke.
Thanks.
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