March 31, 2008
Perspective on Real Estate
Wall Street is the epitome of American capitalism and its contemporary condition. Now, it is caught in between a fear of a massive failure that could endanger capitalism itself, as well as its enduring suspicion of anything that could interrupt the laissez-faire freedoms, with which modern capitalism seeks and by which it is blessed.
This administration has spent its seven years gorging itself on these freedoms, as it has expanded its executive powers, This has resulted a much bigger government, huge indebtedness and an arrogance that would have done Andrew Jackson proud!
Now, the Secty of the Treasury, a classic Wall Streeter, is poised on the horns of a dilemma that does not wish legislation that might punish the greed of the Street, for the better of the country’s homeowners. The administration will not countenance any action that would remove an ounce of the unlimited freedom the Street enjoys; yet action is recognized as necessary to bring equilibrium back to the financial sector.
I am afraid that actions proposed are nowhere near what protection the American consumer requires in order for safety to return. Risk requires the clear comprehension of where it lies, how much is risky and what protections there are against possible larceny or worse!
The Republicans are mostly dead set against protecting the consumer, even if they are punished in the coming election!
IT IS ONE THING TO REJECT GRAVITY, AS SOME CANNOT IMAGINE THAT WE ARE WALKING head over heels. But it is a fact, whether we reject the notion or not. It’s like some could not understand that germs make us ill, just because we could not see them before the microscope made the germs visible. We are either stupidly blind, or we can be educated to comprehend reality. Politics has created more mental blindness than any desease!
NY Times Editorial Comment! “My Way or the Highway." Mr. Bush has a combination of two characteristics that detract or add to popularity. The American electorate can be as stubborn as he is, if that is possible. We are charmed by him, even when he isn’t telling the truth. We are repulsed by him when his stubbornness taxes our understanding of why he refuses to change his mind on anything!
His appointments are terrible for the most part. Especially trying is his justice department that is anything but. Justice is one value that we cannot compromise as we all depend on its pursuit for protection. During war we seem to be willing to sacrifice that pursuit through the appliance of fear. Fear is the one ingredient that Mr. Bush and cronies utilize that gets injustice promoted, and that is very bad as it erodes what we think we are fighting for or against.
The Economist cover story (March 29-Apr. 4), A 14 page report on the future of US Foreign Policy. The surge will be updated, by our leading general next week, as there is no chance that the administration will reduce troops, and McCain will become known as Bush the third, because he will simply continue George’s strategies. The insurgencies seem as powerful as ever, learning American fighting strategies, and growing in numbers.
America never had the required troop and equipment strength, plus the war wore out our armed forces to weaken any future response we may yet need in other zones. This is why there is growing belligerence in Latin America, toward the US, while Iran seems to be growing bolder. China remains always a mystery, backing several terrible regimes. If it acts this way now—before the Olympics—how will they be afterward?
To me, it is difficult to believe that McCain can win by simply turning into another Bush. He has more intelligence and would easily be a better commander-in-chief. We’ll have to see what steps the GOP will pull (Rove, et al) to keep itself in power. Voters have to prove that they are intelligent enough to comprehend how weakned we are, because of Iraq and the administration’s massive blunders and stubbornness that approaches blindness!
srg
