The Old World and the New now have one thing in common---a fetid financial failure.
And as we try to construct a life boat, a vessel that will keep us afloat until we come up with a solution, the people who most need to cooperate if they are to survive, are putting perceived self interest before the common good. That is a guarantee that we will all sink.
The international banking system is no longer made up of individual nation central banks.
Ours is a global, interwoven and interdependent system. Failure in one country triggers decline and possible collapse in others. The capital structure of a single nation’s banks now includes stockholders and investments from many other nations.
The United States is coming out of an era of unilateralism, based on hubris that our economic power compels other nations to dance to our tune. The change in our fortunes
has given the others the confidence that they can play their own music, and they are!
So we can’t expect them to follow our prescription for the malady that affects us all.
Which means the cure must begin here. Teamwork, for the good of all, is now more important than pushing parochial interests for the good of a political party.
What can we make of the Republican party determined to say no to everything Obama is trying to do? Are TEA PARTY protests against taxes a substitute for policy? Will the economy recover if more jobs are lost, unemployment checks stop coming, food stamps are cancelled, more homes are foreclosed? If we abolish ALL taxes on people earning more that $250,000 per year will their savings trickle down to create more jobs, rescue failing companies, keep people in their homes, and restore health to sick banks?
To the party that prides itself as the party of Lincoln I say Come On, get off your
sore loser backside and come up with positive ideas to help the nation recover. Compete on the field of ideas, not fear and rancor. The country needs you as partners in progress.
GET WITH IT.
Sunday, April 19, 2009
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