http://www.cnbc.com//id/27641538
See how some heads explode....
A pleasure I therefore claim to show, not how men think in myths, but how myths operate in men's minds without their being aware of the fact. Levi-Strauss, Claude
And now everyone will blame Obama for the crap he'll have to do to rebuild the bank balance. Course he could shut down a wastefully large part of the military, but I cannot imagine that being considered acceptable to the Imperialists. keep to the Fen Causeway
"Hello, my name is Uncle Sam, and I am addicted to debt...." You can't be me, I'm taken
Even the progressive factions of the public may be in for much more "change" than they bargained for. The global economy as we knew it is finished (despite British PM Gordon Brown's fatuous suggestion that we are ready to formalize it). The world is about to lose its "flatness" (sorry Tom Friedman) and get much rounder. For one thing, the racket of American "consumers" gobbling up the output of Asian factories in exchange for paper promises is over. For the moment, the Chinese are struggling with epic factory closures with the sudden prospect of a restive lumpenproletariet. The situation there is bound to get worse. Before long, these broke-and-hungry masses may actually challenge the present government. In the meantime, there's no telling what the (unelected) Chinese government might do either to keep itself in power, or genuinely defend its country's perceived economic interests. One thing is self-evident: we are not returning to the old racket of toys-for-treasury-bills.
lead toys and melamine petfood for toxic paper, whatta deal!
castles built on sand... The person who says it cannot be done should not interrupt the person doing it. Chinese Proverb.
the only question is how abrupt or tender the transition will be... but there is no doom scenario I can foresee... I think even a great depression is almost impossible, given the money that can be invested in energy and new car productions....
but it can be a bumpy road ,lasting even a decade in the worst case cenario...a dt he capitalsim at the end of te road will be very different...
Oh.. well this is soemthing Krugman already says.. and I guess eh gets fees... I just ened a noble prize.. I will keep on working on it..
heads explode...:)
What's new is that they mention cuts in the military budget, but the same call comes - really - from the Pentagon...
Pentagon board says cuts essential - Tells Obama to slash large weapons programs November 10, 2008 WASHINGTON - A senior Pentagon advisory group, in a series of bluntly worded briefings, is warning President-elect Barack Obama that the Defense Department's current budget is "not sustainable," and he must scale back or eliminate some of the military's most prized weapons programs.
WASHINGTON - A senior Pentagon advisory group, in a series of bluntly worded briefings, is warning President-elect Barack Obama that the Defense Department's current budget is "not sustainable," and he must scale back or eliminate some of the military's most prized weapons programs.
really it is a first in MSM american media.
Hopeful signs on health care This is very big news. One of the key questions about the new Democratic majority was whether Congress would try to play it safe, backing down on big ideas about reform, especially on health care. You can view the whole chorus about how we're still a "center-right nation" as an attempt by the usual suspects to scare Democrats into scaling back their ambitions. But now Max Baucus -- Max Baucus! -- is leading the charge on a health care plan that, at least at first read, is more like Hillary Clinton's than Barack Obama's; that is, it looks like an attempt at full universality. (The word I hear, by the way, is that Obama's opposition to mandates was tactical politics, not conviction -- so he may well be prepared to do the right thing now that the election is won.) So this looks very good for the reformers. There's now a reasonable chance that universal health care will be enacted next year!
This is very big news. One of the key questions about the new Democratic majority was whether Congress would try to play it safe, backing down on big ideas about reform, especially on health care. You can view the whole chorus about how we're still a "center-right nation" as an attempt by the usual suspects to scare Democrats into scaling back their ambitions.
But now Max Baucus -- Max Baucus! -- is leading the charge on a health care plan that, at least at first read, is more like Hillary Clinton's than Barack Obama's; that is, it looks like an attempt at full universality. (The word I hear, by the way, is that Obama's opposition to mandates was tactical politics, not conviction -- so he may well be prepared to do the right thing now that the election is won.)
So this looks very good for the reformers. There's now a reasonable chance that universal health care will be enacted next year!
Presumably Baucus has been in touch with Kennedy about health care proposals. If we can get guys like Baucus on board so easily, this is looking very, very good. WHEEEEEEEEEEEEEEEEEEEEE!
