The Race to Captain a Sinking Ship

[marmar]

from Truthdig:



The Race to Captain a Sinking Ship

Posted on Mar 18, 2008
By Eugene Robinson

WASHINGTON—The Democratic presidential candidates squabble over real or imagined racial sensitivities, the Republican presidential candidate stages photo opportunities with the troops in Iraq, and meanwhile the financial system is coming apart at the seams.

Would someone please tell Barack Obama, Hillary Clinton and John McCain that here in the real world, we have what looks like a real problem. It would be nice if they’d pay attention and maybe, you know, come up with some ideas for getting out of this mess.

You’d think that when former Federal Reserve Chairman Alan Greenspan predicts that the deepening financial crisis will be “judged in retrospect as the most wrenching since the end of the Second World War,” the candidates might take note—if only in self-interest. How are Obama and Clinton going to pay for universal health insurance if billions of dollars keep evaporating in this overheated “crisis of confidence”? How does McCain intend to fund his Hundred Years’ War in the Middle East if Wall Street is in ruins and the economy is slogging through a deep recession?

To be fair, the presidential contenders haven’t been entirely silent. Clinton, for example, did speak on the financial crisis Monday, criticizing George W. Bush for not being presidential enough in his leadership and saying she would have begun more intensive oversight of Wall Street a year ago. But that’s not the same as charting a path out of this mess.

Bush, at least, is finally engaged in the crisis. Sort of. “We’ve taken strong and decisive action,” he said Monday. “We obviously will continue to monitor the situation. ... In the long run our economy is going to be fine. Right now we’re dealing with a difficult situation.”

“Difficult situation” is an incredible understatement, given that the Fed is employing gambits it hasn’t used since the Great Depression to prevent a domino-effect collapse of big Wall Street firms. ........(more)

The complete piece is at: http://www.truthdig.com/report/item/20080318_the_race_to_captain_a_sinking_ship/

[Demeter]

1. Try and Get a Candidate's Attention!

On war, on economy, on anything--wave large checks.

[SujiwanKenobee]

2. Too true.

Unless the next Prez is an effing miracle worker, it's likely to be a one term stint. The population is going to turn on anyone who can't provide a sense of relief. Unfortunately, I think it's going to come down to a new paradigm of what pursuing the American Dream means. With this financial mess,the looming environmental disaster and more people/fewer career prospects--it sure isn't going to be like anything we have known.

[bpeale]

6. i agree. when the candidate/president can't turn it around, the populace will turn on them

one term it is. i think even john edwards could see this & maybe that is why he withdrew.

[Yael]

3. John Edwards is the only one I trust on this topic

Hopefully, someone will dust off his domestic economic policy (that Krugman even claimed was best of the slate) and give it another read...

[bemildred]

4. Come come, this sort of Gloomy Gus talk just does not get you elected pResident.

The people are far too immature and narcissistic to deal with the truth.
:sarcasm:

[bpeale]

5. actually, you don't know how true a statement that is

[bemildred]

7. But it's really the only hope we have.

The truth sets you free. Bullshit keeps you in chains. Any reversal of current trends requires that we all pull together, that the public good be put ahead of private interest, especially well-heeled private interest. That will not happen by means of more and better bullshit.

[bpeale]

8. good analogy! i like that. may i quote you?

[bemildred]

9. By all means. Take credit for it. Spread it far and wide.

You have my permission.

[bpeale]

10. i don't want to plagarize. just want to quote you & give you credit for your own words & thoughts.

but thanks anyway!

[bemildred]

11. You don't have to, I mean what I said, I don't care a fig about "credit".

If you don't either, then we are on the same page. I consider everything I post on the web to be "public domain". If I wanted to be anal about it, I would not post it here, or I would mark it.