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In other news from New York | 74 comments (74 topical, editorial, 0 hidden)
Re: In other news from New York (4.00 / 9)
What I find strange about this crisis is the seeming disconnect with what passes for political debate in the US Presidential election.  Have McCain, Obama, Clinton et al given the slightest indication that they understand the magnitude of what is going on?  Does winning the Presidency depend on reflecting the voters apparent denial/ignorance of what is going on?  It seems that the reality of the financial meltdown and the failure of the "reform" ideology is so far out of sync with the comfortable cliches of politics-as-you-were that we are in danger of providing a democratic mandate to Neroism - a collective fiddling while Rome burns.

"It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue Mar 11th, 2008 at 10:43:52 AM EST
Re: In other news from New York (4.00 / 6)
I was wondering the same thing. Except for Edwards, none of the current canditates seems to be aware of what is going on. Strange as one would think this would be the number one slogan to get elected - it's the economy, stupid!
by Fran on Tue Mar 11th, 2008 at 11:02:04 AM EST
[ Parent ]
Re: In other news from New York (4.00 / 3)
I've asked this question for at least 30 years. Here's a couple thoughts, suspicions.

1) It's possible that they don't know--not because the evidence  or information is unavailable to them, but because they are "Double Highs"-- authoritarian personalities who also very much want social dominance.
To question such a fundamental part of their reality structure is alien to the authoritarian mindset, and in fact seemingly unrelated to (or even damaging to) their central task-- to gain control.

2) They know- but the conclusions and policy options that emerge from that knowledge are so heretical, so fundamentally scary that they continue to opt for the band-aid box. These candidates have given their lives to playing a game.  Play long enough, and you come to believe. Now, that game is rapidly emerging as just another fantasy- a narrative- that has an inexorable life of it's own, and a lousy ending.

Will they opt for real change?
Can it be done? FDR swam upstream like a champ. Maybe Obama can too.

But--- What was it that Krugman said?
"Hope is not a plan".

The Geeze says:
"Hope, like life, is better than the alternative."  

Capitalism searches out the darkest corners of human potential, and mainlines them.

by geezer in Paris (risico at wanadoo(flypoop)fr) on Wed Mar 12th, 2008 at 07:04:49 AM EST
[ Parent ]
Re: In other news from New York (none / 0)
It seems to be OK on US politics to say "Washington is broken", but not "Wall Street is broken".  I tend to see Politics and economics as two almost entirely separate games.  The US Presidential election is about winning he political one.  Then you have to say "all bets are off" on the economics game and start an entirely new game.  Do any of the candidates have the alacrity and ability to do this?

"It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Wed Mar 12th, 2008 at 07:22:52 AM EST
[ Parent ]
Re: In other news from New York (none / 0)
"I tend to see Politics and economics as two almost entirely separate games."

Boy, Frank-- I disagree.

Economics as a "discipline" is (and should be) a servant of politics--yes--since economists in general make lousy policy- too narrow a point of view, too lost in pandering.
But from the perspective of the voter (who, after all, is the central figure here), economics and it's real-life consequences are fundamental, and merge with--are the life blood of-- politics.
Most Americans have no dough in shares, view Wall Street as fundamentally "broken" anyhow, and would happily attend a CEO roast, if the main dish was one of those guys who make 2,000 times what a line worker makes, and just ran the cfompany intocv the ground---or moved it to Singapore.

It's only the Media who dare not speak ill of Wall Street.

Capitalism searches out the darkest corners of human potential, and mainlines them.

by geezer in Paris (risico at wanadoo(flypoop)fr) on Wed Mar 12th, 2008 at 08:11:40 AM EST
[ Parent ]
Re: In other news from New York (none / 0)
God, I hate this keyboard.


Capitalism searches out the darkest corners of human potential, and mainlines them.
by geezer in Paris (risico at wanadoo(flypoop)fr) on Wed Mar 12th, 2008 at 08:15:27 AM EST
[ Parent ]
Re: In other news from New York (none / 1)
My formulation was unclear. - I see them as being played as if they were entirely different games, with an international economic elite with almost no loyalty to its current host nation, and a political elite with harps excessively on patriotism but which has almost no power over the economic elite.  Of course the two are intimately connected, but you would hardly think so given how the games are being played at the moment.  Yes, there are arguments about NAFTA which are chiefly about foreigners when the real aliens are running the show back home.  International monopoly capitalism has few national ties except when it wants national institutions to pick up the tab when things go horribly wrong.

"It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Wed Mar 12th, 2008 at 09:39:46 AM EST
[ Parent ]
Re: In other news from New York (4.00 / 4)
Don't forget we are what I would call a well-informed, concerned minority. We are still at the twilight stage where public perception of this slow-motion crisis can be summed up by the title of this article:

CNN: Recession? What recession?

But, but...

Have you lost your job, your business or your home? Are you raiding retirement accounts to pay the bills? We want to hear from you. Tell us how you're being affected by the weakening economy and you could be profiled in an upcoming story. Send emails to realstories@cnnmoney.com

When more and more people will answer yes, and yes, then it will be plain that we are several months into a recession.

You're clearly a dangerous pinko commie pragmatist.

by Vagulus on Tue Mar 11th, 2008 at 12:20:51 PM EST
[ Parent ]

In other news from New York | 74 comments (74 topical, 0 editorial, 0 hidden)
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