Open Left

Yes (0.00 / 0)

1) Martin Wolf was a formidable opponent when he was a cheerleader for unfettered (neo-liberal) globalization, but his columns now are a joy to read both for his changing viewpoint, as well as his lucid, tightly constructed thinking. Last week, EuroTribune was trying to get him to go the last mile by calling for high taxes on the wealthy (to stave off speculatory bubbles).

2) This is why I shy away from the "triumphalism" that seems to permeate progressive blogs as well as the Democratic party in general. We've clearly been through a watershed moment...but what exactly will the new tide bring? As you pointed out yesterday, past re-alignments were not always in total (as 1932 was), and as people like Krugman point out, one can make a very plausible economic case that the new era will not resemble the one we are told is on the way.

And that's just another reason why I believe it is important to push hard for policy change NOW, because we don't really know what is around the corner. I will not listen to the siren calls of those who say we are in a long trend of progressive dominance, and so we should be patient and accepting of slow incrementalism (Crowley in the Guardian is only the latest offender in this regard). A casual observation: most people who say this have been "in the biz" for 20 or 30 years, and as a result probably have low expectations/demands for change.

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by: glacierpeaks @ Sun Jun 28, 2009 at 15:26:24 PM CDT

The Democratic party could end up like Labour (4.00 / 2)

Labour was voted in 1929 after the market crashed. Despite inheriting the mess,Labour were still blamed for the economic crisis because they came into power at the beginning of it. The British people didn't care that they inherited the problem. In 1932, Labour was out of power. They were in the wilderness for 14 years. I think if the Democrats don't do anything then they may end up like the Labour party. People make the mistake to compare Obama's situation to FDR but he at least came into power 3 years after the Depression where it clearly shows that he inherited the mess. This is not really true with Obama.

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by: Micheline @ Sun Jun 28, 2009 at 15:48:01 PM CDT

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That is a great point (0.00 / 0)

You had the national governments of Stanley and Baldwin, followed by Chamberlain, who I've heard actually set the foundation for the welfare state that Attlee then built upon.

Thanks...that's a great point.

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by: glacierpeaks @ Sun Jun 28, 2009 at 15:54:32 PM CDT

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Sorry, Ramsay McDonald (4.00 / 1)

and Stanley Baldwin, not "Stanley & Baldwin". I had to go back and look that one up...it's been awhile, LOL.

So I personally am not forecasting gloom and doom for the world, and neither is Wolf or Krugman or Buiter for that matter. But I think some of these top minds are saying "Hold on, we could very well be in for a bumpy ride for years to come."

And it certainly would seem that way.

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by: glacierpeaks @ Sun Jun 28, 2009 at 16:29:15 PM CDT

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What! We're Supposed To Learn From Furriners! (0.00 / 0)

I don't care if they are Brits, what with the special relationship and all that.

Did GW listen to Tony Blair?

Of course not!

"Senate passes expanded GI bill despite Bush, McCain opposition"

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by: Paul Rosenberg @ Sun Jun 28, 2009 at 16:32:23 PM CDT

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Absolutely Agree! (4.00 / 2)

The Repubs are COUNTING on continued economic disasters, and a failure by the Dems to pass key legislation to fix this mess.  They are going to actively work to make this situation worse.  Over the next two and four year election cycles, it will be much easier for the Repubs to blame the Dems for this mess, or lack of any recovery.  This is their whole game plan in a nutshell.

I'm not blaming Obama for this mess, I know it's not his fault, but he needs to start handing out these trillion dollar bailouts to the people that count:  the voters.  So far, we've watched him spend multi-trillions of dollars on the finance system that created the mess, and pass stimulus legislation that gives bucks to large companies.  Not much has translated into help at the voter level.

Universal single payer health care is the next item that looks like it will become a insurance company boondoggle rather than real reform.  We're experiencing a jobless recovery that going to leave tens of million of ex-middle class voters out of work, out of their home, without healthcare, and madder than hell.  It will be easy to convince them to blame the Dems.

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by: glenjo @ Sun Jun 28, 2009 at 17:51:28 PM CDT

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You Just Smacked The Nail Upside The Head, Pardner (0.00 / 0)

The Repubs are COUNTING on continued economic disasters, and a failure by the Dems to pass key legislation to fix this mess.  They are going to actively work to make this situation worse.  Over the next two and four year election cycles, it will be much easier for the Repubs to blame the Dems for this mess, or lack of any recovery.  This is their whole game plan in a nutshell.

Now if only you could get someone to pay you $50,000K a speech, they actually might even listen to you for a while before soberly deciding ignoring you.

But, since you're saying it for free....

Well, not so much.  They'll just go straight to the ignoring you part.

"Senate passes expanded GI bill despite Bush, McCain opposition"

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by: Paul Rosenberg @ Sun Jun 28, 2009 at 18:07:27 PM CDT

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