I've been trying to wrap my brain around this impending economic doom business; not being a banker, it's taken me quite awhile (and still is, I don't claim to fully understand it). Also there was the first pres debate; all fertile blogging ground which I have largely missed. Oh well.
Starting with the presidential debate last week. I don't know who won. I was so disturbed by the opening round in which both the candidates displayed zero leadership and zero grasp of the situation that I almost turned the dang tube off. A true conservative would have used the opening of the debate to defend free markets and capitalism and acurately describe this crisis as the product of social engineering and political correctness run amok. Instead we got regurgited populism from McCain, and apocalyptic incoherence from Obama.
At least I have the dim satisfaction of knowing I voted for the wacky Mormon in the primaries.
Briefly, on impending economic doom 2008 / New Great Depression, I am starting to wonder if this isn't a crisis a whole lot like global warming, as in -- one more excuse for a big socialist power grab. Weren't we all supposed to be roasting alive, choking on carbon dioxide, and drowning in the boiling ocean by now, anyway? Actually, you would think Democrats would be cheering this development. If the world economy grinds to a sceeching halt, they'll get their cuts in global greenhouse gas emissions, no messy cap and trade scemes needed, and we will all be saved. Hooray.
Backing up my suspicions over this whole crisis is this quote from French president Sarkozy:
The idea of an all-powerful market without any rules and any political intervention is mad. Self-regulation is finished. Laissez faire is finished. The all-powerful market that is always right is finished.As a general rule of thumb, I think it's usually a good idea to do the opposite of whatever the French are advocating. Is the government really the all knowing, all powerful wise and benevolent force that is going to save us all? Call me skeptical.
Anyhoo... here is a music video: