Far East Cynic

Morning quote….

For a guy who had a lot to drink last night-I feel remarkably good this morning.

Speaking of last night, here it is summed up nicely:

“What this election suggests to me is that the United States may have finally lost its ability to adapt politically to the systemic crises that it has periodically faced. The U.S emerged from the Civil War, the depression of the 1890s, World War I, and the Great Depression and World War II stronger than ever — with a more buoyant economy and greater international standing. A large part of the reason was the political system’s ability to provide the leadership the country needed. But what this election suggests to me is that this may no longer be the case.” J.J. Gould

  2. I disagree that the country emerged from the Civil War “stronger than ever” – between a bad President (Johnson), rampant corruption and the systematic dismantling of civil rights for African Americans, it was really pretty grim. The time leading up to WWII was not our finest hour either – it took Pearl Harbor to wake up the country that time. We got through those low points – we’ll get through this one, too.

  3. Lets see..
    JFK. MLK,RFK. LBJ. Vietnam, Kent State, riots, Weatherman, SLA, Selma,. 68 Chicago riots…..yeah these are bad times …… oh wait….

  4. Here is your answer to that:

    This economic downturn structurally resembles the depressions of the 1890s and the 1930s rather than the cyclical recessions that have recurred since World War II. The American people, mired in debt, with one in six lacking full-time employment, are not spending; and businesses, uncertain of demand for their products, are not investing no matter how low interest rates fall. With the Fed virtually powerless, the only way to stimulate private demand and investment is through public spending. Obama tried to do this with his initial stimulus program, but it was watered down by tax cuts, and undermined by decreases in state spending. By this summer, its effect had dissipated.

    The Republicans may not have a mandate to repeal health care, but they do have one to cut spending. Many voters have concluded that Obama’s stimulus program actually contributed to the rise in unemployment and that cutting public spending will speed a recovery. It’s complete nonsense, as the experience of the United States in 1937 or of Japan in the 1990s demonstrated, but it will guide Republican thinking in Congress, and prevent Obama and the Democrats from passing a new stimulus program. Republicans will accede to tax cuts, especially if they are skewed toward the wealthy, but tax cuts can be saved rather than spent. They won’t halt the slowdown. Which leads me to expect that the slowdown will continue—with disastrous results for the country.

  5. You sound like my brother. He’s a believer too.

    I’ll make it simple for you. Stop spending my 7 year old daughter’s money right now. Only a complete fucking tool would steal her money and buy shit today which she is forced to pay for tomorrow.

    How simple is that?

  6. As simple as letting her father not have any money or resources right now-as the economy goes flying over a cliff.

    The rich company that employs her father does OK. Her father on the other hand, just gets poorer.

    Daughter ends up worse off than ever before. But father feels good about his so called “principles”. End of fairy tale.

    You don’t get it-this is not your typical recession-especially since corporations have learned that they don’t have to bring any jobs back. And what manufacturing capability we had is going away.

  10. So typical. refuse to read anything that may, if read and considered, fray ones carefully constructed bastion of illusion.

    Further proof of Hegl’s observation the govenments never learn from history.

  12. didn’t expect the specter to poke his snoggle out of the ooze.

    seriously, reading krugman is a waste of lifetime.

  13. gave whossname a peace prize for what exactly? aimed at the specter.

    It lost whatever weight it ever had after the last couple……….Yes, gore, that was it’s name. Ya gotta move on dudettes. it’s a totally meaningless dildo handed out to to galactic virgins.

    and that you don’t see that speaks volumes about you.