Topic: Politics
The Die Is Cast A peek at the next four yearsby Ben Samuel
(centrist)
Thursday, September 4, 2008
With the conclusion of the Republican Convention, John McCain virtually ceded the oncoming campaign to his opponent Barack Obama. Simply, you cannot expect to be elected by alienating fully one third of your probable constituency. With his apparent insults to the sitting president and current party leader, he has simply told them to stay home.
The election in the swing states will be carried by a message of hope and change in the direction of the American economy. Restating the policies of the past eight years will not get it done for him there. They are already at the point of desperation.
So, what are we to expect? We will experience a shift to one party rule by the democrats, at the worst possible time for them. The American economy is only at the beginning of its unwinding. The real decompression will begin about midterm of the next administration. Even now, as the pace of job reduction quickens in the private sector, the public sector is only now beginning to face prospects of reducing its workforce. The past seven years, public sector jobs have increased as losses in the private sector mounted.
Before the current administration leaves office, we will experience a final burst of activity to bail out various industries in America, and a monetarist binge that will make all those that preceded it seem tame. As job losses mount in both public and private sectors, the value of the dollar will decline and inflation will grow well into double digits.
Foreign investors will go on a buying spree for American businesses, taking many public corporations private. America will become a battleground for the competing cultures of foreign businesses from many different lands. Like the Republicans before them, self -preservation and interest will become the sole concern of the Democrats in government. Regional interests will emerge, and the first real cracks in a unitary America will emerge.
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article are those of Ben Samuel only and do not represent
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Posted By: Walt Thiessen
Date: 2008-09-05 05:00:47
You wrote that we should expect "a monetarist binge that will make all those that preceded it seem tame."
Interesting claim. What makes you think it will increase beyond the record amounts of binging already perpetrated? Let's face it, the economy is awash with a hugely inflated supply of dollars. The quantity is so high and so difficult to count that most government experts have given up that task. Indeed, they stopped tracking M3, the most important measure of that quantity, two-and-a-half years ago.
The only way I can see to go on a monetarist binge that will make the binges of the recent past look small by comparison would be if the current gigantic supply were to be increased geometrically. If that happens, get out your wheelbarrow!
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