I realize most Americans simply believe the pollaganda shoveled through their TV on a daily basis. It serves to protect them from the painful job of thinking. Most probably missed Tony Blankley’s recent article where he…. well, I quote:
“The presidential campaign currently underway has missed the historically rare opportunity to engage the candidates for president in a serious discussion about how they would respond to a very likely impending recession brought on by twin banking and currency crises... After all, in 10 months, one of them—either McCain, Obama or Clinton—will be president and quite likely will be facing one of the worst financial and economic conditions of recent decades. Instead, we get yet more discussion on who is for hope, who has experience, and who is better able to answer the phone at 3 a.m. Why not have a novel three-way debate on one of the networks for two hours and see what the three great minds who would be president have to say about what they would do if the likely turns out to happen?... I have the first question for them. Since World War I, economic historians divide the world’s financial history into three parts: interwar (1919-1939); the Bretton Woods period (1945-1971); and the present period. In reaction to the Great Depression of the interwar period, Bretton Woods provided strict regulations of financial institutions. As a result, there were few financial crises. Then we liberalized and deregulated during the present period and have had several deep crises. Questions for the candidates: In 2009, should we re-regulate or not? And should we try to ease the pain of the crisis if it comes or let natural economic forces clear out the dry rot and find the natural bottom? No points for slogans. Extra credit for honest, thoughtful responses. Or we continue with Obama’s people suggesting Hillary is a monster and her people suggesting Obama is a Muslim (and McCain off in the margin somewhere).â€