The Bishop and the Butterfly: Murder, Politics, and the End of the Jazz Age

    We get so soon old and so late smart

    By Flavius on Wed, 10/20/2010 - 12:43pm |

    Martin Wolf in today's FT

     

    Who can now confidently state that reliance on a policy which worked by financing overpriced housing was better than using surplus savings for higher public investment? Similarly, who can confidently  state that it must be be better to rely on relaunching a private credit boom than on higher public investment.

     

    Translation: Government's not the problem . It's part of the solution. Or could be if it finally starts recreating a modern infrastructure

    Comments

    Amen!!!


    by trkingmomoe on Thu, 10/21/2010 - 1:33am

    I second that amen.

     


    by LisB on Thu, 10/21/2010 - 1:44am

    Fourth word=confidently, I assume.  Glad Martin Wolf wrote that. Good on him.


    by AmericanDreamer on Thu, 10/21/2010 - 1:55am

    Yup. Confidently. Thanks.


    by Flavius on Thu, 10/21/2010 - 8:29am

    In other words. Government is ONLY the problem when it prevents you from behaving like a greedy, selfish, self centered, arrogant, mean spirited slime ball.


    by cmaukonen on Thu, 10/21/2010 - 9:48am

    yup


    by Flavius on Thu, 10/21/2010 - 10:53am

    Yes, because as Ayn Rand and her disciples would have it, those are actually virtues, malevolently disguised as vices by government bureaucrats and other wannabe totalitarians-in-waiting.


    by AmericanDreamer on Fri, 10/22/2010 - 3:00pm

    "Government should be small enough to drown in a bathtub, but big enough to force every raped woman to carry to term".


    by NCD on Thu, 10/21/2010 - 11:38am

    Bitter but ,sadly, true.


    by Flavius on Thu, 10/21/2010 - 12:29pm

    I think that the Chamber of Commerce and corporate money interests which are spinning the tea rabble into Congress know full well that infrastructure spending is necessary to keep our economy from tanking again. (I don't like this greedy bunch but it's hard to believe they are stupid enough not to see the benefits of more stimulus) But first, they had to get the rabble into Congress so that they could throw monkey wrenchs into the wheels of regulatory reform. Aside from stalling reform the tea rabble are probably a complete distraction to corporate America. Actually the only ray of hope I see in what appears will be a hijacked election putting Republicans in conrol of the House is that in order to get any rational movement forward on restructuring our economy, the Republicans will have to go around the tea rabble. Believe me, I am not capitulating to the charlatans of corporate america so please don't excoriate me. It's just that in order to keep my head from exploding I have to imagine a possible way forward through the disaster which I perceive is about to take place in our government. O.K, wishful thinking.


    by Oxy Mora on Thu, 10/21/2010 - 2:02pm

    It's just that in order to keep my head from exploding I have to imagine a possible way forward through the disaster which I perceive is about to take place in our government. 

    Mine so far is this: after the elections, Obama makes a public statement that the voters have spoken and that it is apparent they believe he and the Democratic Congress have not been nearly aggressive enough dealing with Wall Street and on the jobs issue.  Some among the early Tea Party supporters who really were motivated by financial reform will be pleasantly surprised about the financial reform part of it--"maybe Obama is educable, after all..."  The Democratic party's base will be encouraged that, finally, we may see an aggressive push on green infrastructure public jobs.

    There are Republicans alert enough to try to steal (what should be) Democratic issues.  And there are Democrats who will (hopefully!) be looking for ways to exploit some of the many, many divisions among and within Tea Party folks and the GOP, to regain command of the narrative (establish something that looks like a narrative).


    by AmericanDreamer on Thu, 10/21/2010 - 3:14pm

    We were commenting about the "narrative" a while back and I was corrected not to project a narrative that might result from an election that hasn't happened yet. Fair. But I've exceeded my budget for contributions, feel like we're in a lull and that makes me nervous. So I speculate. Its free. If Obama will use the bully pulpit and not be so agreeable I think he will be able to gain the upper hand on what looks to be a rascally Congress.


    by Oxy Mora on Thu, 10/21/2010 - 4:20pm

    Well I might end up getting tossed into lockup with you.  Like you I am doing and will be doing everything I can to avert the outcome I just let myself speculate about.


    by AmericanDreamer on Thu, 10/21/2010 - 4:25pm