The New World

The Country has now elected a President, and statistically, it probably worked out for the Best; Obama expressing a Conduct of deliberate, carefully-planned directional movement, while there was a definite erratic pattern to the McCain decision-making process. There is also a Sea Change from concentration on Business performance to Human Care. A decade of Business promotion almost killed the Goose which laid the Eggs, while the Business class proved as fallible as Anyone; and with too great a tendency to throw massive amounts of Money at any Problem. The real trouble entered in that they threw the Money the wrong way! This becomes an important factor with recent data being as bad as it is.

Paul Krugman sets a tone in the victory which Obama must avoid. The thirst for Sound bites by the media has functionally destroyed American civility. There may be monsters out there, and they might have been educated by the Corporate Board system; still, such rhetoric by a Reporter with such a responsible position destroys the capacity to join efforts into a unified policy to restore the American economy. Obama will be the President of all Americans, even the monsters, and will do well if he does not artificially incite them with an attitude which will anger.

I agree with this Post by Arnold Kling, though the Timing may be regrettable. The Troubled Asset Relief program was and is an abomination, and hopefully no federal negotiation team previously coming from the industry itself, will be allowed to conduct secret negotiations with that industry enjoying the power to commit the American people to vast Expenditures. Troubled Assets have not been bought, but vast sums have been granted to the industry; who have paid Dividends to Stockholders, and Bonuses to themselves, while holding the remainder of the Cash for Reserves granted only to secure Investments. The Troubled Assets are still out there, the financial crisis still exists because of those Troubled Assets, and the management team (both Public and Private) who set the policy which caused the destitution were paid for the total volume of the losses. Only in America, Land of Opportunity! lgl