The “Super Committee” has now failed and the stock market dropped. We’re in a tizzy over imaginary actions that never happened, caused by something that wasn’t.
The Dayton Daily News proclaims housing is rebounding in Dayton [1] today. Really?
How do we come up with these superlatives without any real justification? I was having a short discussion with a good friend yesterday- a veteran police officer, talking about the plight of a friend in the courts- he says “the truth is malleable” – so true.
It’s why the entire industry of “Public Relations” exists. It’s why politicians hire “campaign strategists” and “consultants” to help put lipstick on their piggish campaigns.
What happened to actual action?
The stock market has taken wild swings- sometimes because the programs that now run trading encountered a programming hickup- or because we don’t look at facts anymore- especially when company financials have as much credibility as a slot machine. Every time you spin it- you get a different answer. Where are core fundamental answers in today’s world? We’ve got presidential candidates talking about evolution and others not knowing what happened in… what was the name of that country again? Can I buy a vowel?
I have an 8 year old who now thinks it’s fun to poke fun at me for “using big words” and “trying to show everyone how smart you are”- have we really started to worship stupid people?
Apparently well reasoned debate of the issues must be done in soundbites, because, well, we’re starting to have the attention span of a goldfish (which is supposedly, according to scientists about 3 seconds). The Occupy Protests can’t be serious because they can’t condenses their mission statement into 50 words?
What happened to intellectualism?
The problems we’re facing today aren’t going to be solved with slogans, flag waving or better PR. Things don’t change just because the media says they have- or because we have a new way of measuring “progress.” Things change because we actually make changes: real, substantive, fundamental changes.
It’s not saying “Hope” or “Change” it’s doing it.
I watched the movie “Too big to fail” [2] on the way to Europe, which apparently is in the process of failing. (Highly recommended movie btw). It seems the guiding argument for creating the “super committee” was that Congress was too big. Now, even 12 people have failed us as well. The handing over of this work to a committee of an even number could only bring failure- it was a recipe for disaster. What we need is a leader to actually step up and lead. The president has failed us, the free markets have failed us, our laws are failing us (when we have a CEO steal millions and get 7 days [3]).
You have to wonder when the New York Times has an Op-Ed piece called “How China can defeat America” [4] and they seem to have a better understanding of what made our country great than we do right now.
For all the talk, all the positioning, I’ve yet to hear a single substantive plan, a “New Deal” put forward to re-make America and solve our problems of widening economic inequality and the destruction of the middle class- and the imploding of our government’s financial standing at all levels. The bad news is we need at least two plans- to really have a debate.
To quote the most famous philosopher known to Americans, Mr. Miyagi, “Either you karate do ‘yes’ or karate do ‘no.’ You karate do ‘guess so,’ ” We’ve been trying to do karate by consensus and guessing so.
If we don’t make real changes soon, there will be a fight, just as we’ve seen other governments toppled or reconstituted (don’t even ask for a count on how many have changed in the last few weeks- Greece, Italy, Spain… without including the continuation of the “Arab Spring” which is outliving its media given name).
To quote a friend, Sally Hogshead: “Break out the nun-chucks and let the street fighting begin.” [5] because if we don’t start talking seriously about making systemic change- it will be made for us the old fashioned way: I’ll quote a famous Chinese philosopher: Mao Zedong: “Political power grows out of the barrel of a gun.”
We have more guns in America than we seem to have leaders.
That’s the very real reason that I know eventually we’ll come to our senses, or not.
That’s the inevitable if we don’t change soon.
What gets me thinking huh, is the US’s national debt is 15 trillion, and this committee was only in charge of curtailing it by a few trillion, even the default plan will only trim off a couple trillion including cuts to WPAFB.
Maybe our budget deficit needs a committee to fix it first; too many rich folks just want to either get richer or not lose a penny of what they have already earned- seemingly. You say you want a revolution …
“May you live in interesting times.”
What a curse. I have cohorts that taunt me for using “big words” and “boring smart talk”. Honestly, these are intelligent, college educated professionals, Dave. Things seem hopeless right now given our nuevo-“national malaise”.
Sad state of affairs in these interesting times.
“What gets me thinking huh, is the US’s national debt is 15 trillion, and this committee was only in charge of curtailing it by a few trillion, even the default plan will only trim off a couple trillion including cuts to WPAFB” – Gary
No. The committee was in charge of reducing the DEFECIT. They were not even attempting to cut the DEBT.
Because of baseline budgeting , even if the automatic cuts that are supposed to go into effect happen the Federal Government will still spend more money than it did the previous fiscal year.
“What happened to intellectualism?” DE
It was stamped out by busy-bodies and big government collectivism.
Perhaps somebody could explain to me why we don’t just roll back fiscal policy to the last time we had (even if only on paper) a budget surplus in Federal Government? Then maybe this time we could use the surplus to reduce debt first, and only afterward think about tax reductions (sustainable ones!) and similar give-aways.
The president has failed us, the free market has failed us, our laws have failed us…(David Esrati)
…well, dear David, two out of three right ain’t bad. Free markets, which reflect the wishes of the buying public, is the most democratic system ever devised, and the least popular when it comes to American power elites. If you think our over-regulated economy is free, dear David, may the Old Bandito introduce you to the Community Reinvestment Act, the Federal Reserve and the Orwellian named Internal Revenue Service, which confuses service with servitude and imprisonment. No, dear David, free markets are not the problem, they are the solution…
How to resolve our deficiet problem? answer, “do nothing”; something I quite certain Congress can “do”. From EJ Dionne:
Here is a surefire way to cut $7.1 trillion from the deficit over the next decade. Do nothing.
That’s right. If Congress simply fails to act between now and Jan. 1, 2013, the tax cuts passed under President George W. Bush expire, $1.2 trillion in additional budget cuts go through under the terms of last summer’s debt-ceiling deal, and a variety of other tax cuts also go away.
Knowing this, are you still sure that a “failure” by the congressional supercommittee to reach a deal would be such a disaster?
Ice Bandit,
Thank you for responding to the free market failing. I agree with you. You saved me some time as I could not possibly let that go without retort.
The president has failed us, the free market has failed us, our laws have failed us…(David Esrati)
I Agree with Ice Bandit, and Robert’s retort? The free market is not Free…with all the artificial crutches; the bailouts – and too big to fail policies in tow.
Bush did the initial bailout true – and OBAMA has continued the failed props:
…proving his failure in the leadership factor.
…Fannie Mac and Mae…
…the Federal Reserve system…
…the forged government loans to the Green movement in the name of Solyndra to name but one FU.
…the colossal failure of his Super Committee
…the continued thinly disguised Jobs Program.
NO.
It is not the Free Market that has failed us – rather it is 1. Government, 2. This Congress and the 3. Executive office. IMO
We have to fail sometimes to be successful … I predict a very good next four years whomever is in charge!