Greetings from
The Publisher . . .
While Things may not be Clear, They do Appear Transparent
What can we say when no one can really explain what is wrong with the economy in a way that people can understand? Yet at the same time think they know exactly how to fix it, i.e., the address where to send the money—oops, our money.
It looks like we may be learning and becoming clearer about the economy. We are getting a clearer glimpse of the “Invisible Hand” that adjusts our economy and makes everything function efficiently—and we're seeing this in our lifetime!
Just thinking of that Hand sweeping in to fix all our problems is quite miraculous isn't it? All we need for it to happen is to have faith that being selfish and working solely in our own interest and not considering others will solve everything. Really. That all it takes.
That is, of course, if the second tenet is also religiously followed: noninterference. The belief is that the way to have everything under control is not to control anything. Any interference with this principle and the Hand won't come.
It's similar to how Santa Claus works.
I didn't realize that living in interesting times would blend in with fairly tales. You have to admit don't you, that this Administration has been closest thing we've seen to a real live Fairy Tale. We've seen the king has clothes scenario for years now; and yes, the repeats are getting tiring. Giving credit where it's due, however, who would have thought of making a fairly tale into a reality show?
But the Hand, I mean that's different and something everybody knows works. Maybe it just fell asleep for a moment.
Just the other day I listened to Sen. John Cornyn of Texas explain that the problem was that in 2003 the Republicans proposed fixing the Freddie Mac and Fannie May problems. And the Democrats said it was okay like it was and stopped them from doing it.
That's probably what we need. More partisanship.
Cornyn said that they weren't allowed to fix it, and then totally confused me when he declared his unfailing belief in the Hand and said that interference with the Hand and nonbelievers were causing our problems today. So which is it? Isn't fixing it interference? A lot of people today on Wall Street, Congress and in the country have to take a look at that. Do they want to invite that interference?
Or will enough money sufficiently dissolve that principle/truth?
Writing in USA Today about the economic crisis, John Diamond wrote about this irony that I think of as the believers in the Invisible Hand with their hands visibly out—seems sacrilegious. Diamond said the “buzzwords” or chants to keep control away have always been to label any attempt at control as “redistribution of wealth” or “government interference in industry.”
Rather than an investment by the government to fix the problem, he considers it “a magical transfer of losses away from those who are responsible to those who aren't.”
That's another piece that's becoming clearer these days isn't it? People saying one thing and doing another. They believe in the Hand and also want the fix. And with this Administration the fix is there enough it's an addiction.
Many politicians these days seem to operate as if what they say at the Elks Club on Tuesday in Dallas will never be heard by anyone else; and they can say the opposite to another group another night.
I hate to single out Sen. John McCain, since I've recently seen Sen. Barack Obama advertisements that I don't like, but for sheer volume of the issues you've danced on both sides with, you have to take McCain. Isn't it time for him to notice that people notice? Or time for all politicians to make what they say consistent with what they do?
We've all heard that McCain has trouble with modern technology, and it may be cute to some, but somebody needs to explain to him how these cameras and tape recorders work.
A Nightline program, The Economist , Salon and numerous others have focused on how he is not the same McCain these days. A couple have even noted the timing of his most recent shifts was right after Gov. Sarah Palin was chosen. Who says Republicans won't follow powerful women. Ever since Palin was chosen his positions have simply reversed.
One fact I would have liked to have seen become clearer is that before Palin was chosen, she was being pushed by Rush Limbaugh. “We got the babe,” he said when she was chosen. Talk show host Sean Hannity said she was the choice of Karl Rove. Are Limbaugh and Rove outsiders? Palin clearly represents a well-defined demographic and ever since she was picked, McCain is supporting the issues of that same demographic. Johnny and Barbie Maverick they are not. They are far too predictable.
You have to give her credit for her “confidence” though, thinking she can do the job. After having lived Alaska's second largest city, Fairbanks, I've seen some of the challenges she's had to handle. You have to have been there to know how easy it is to accidentally run into a moose or caribou. They do get in traffic. The bears are always getting into the trash. Times have changed and I know Fairbanks has swelled to over 30,000 people now. But if you include the trees and animals and all that open space there's most likely just as many skills required to manage at that level. Having so many inhabitants who can't speak would be one, getting them to behave, etc. Alaska has about half the people San Diego County has and we all know it's tough managing San Diego.
A natural conservationist, when she asked Hilary supporters to turn in their anti-war posters for membership cards in the National Rifle Association it was really a move to save paper. I just think she's misunderstood and people want to know more, but she's not talking much.
It's getting clearer that hearing McCain and Palin saying they want an open and transparent government is not how they are acting when it comes to interviews and press conferences. To be fair, some are criticizing Sen. Bidden for not holding press conferences too, but it's also not clear that anyone has asked him.
I wrote this right before The Friday, the day a new economic solutions and the first Presidential debate? I wonder if McCain will stay in DC fixing the problem; and if Obama will go on the air by himself and discuss the issues? Which approach do Americans appreciate?
Are we ready for a time of discussion of options and exploration of the issues? Or are we waiting to see the smoke rise, like from the Vatican, that signals that they figured it out for us and will soon let us know how. McCain's plan to stay and “solve” things in DC may send the wrong message—to some of us/US anyway. We'll see.
We called on Richard Martin this issue to give us his take. Some people don't respond well to his forecasts, but at the same time I received several calls this month thanking me for running his articles. He saved some people some money after he wrote about money market funds in April 2008 and I received some thanks for that. Thank you Richard.
I don't think anyone can accurately predict the future in too much detail, but he's been doing pretty well. At the least it serves us all to be prepared for earthquakes, fires, and restrictive economic conditions. There may be an adjustment no matter whom or how we “solve” this current situation. Certainly it never hurts to prepare and either be as independent as much as we can, or find ways to cooperate with others.
Meanwhile this “fix” has all the secrecy of WMDs and the elements needed to make a sale—especially a condition of urgency. They don't know exactly how this car runs; but they know it needs to be fixed immediately and what to do.
I'd like to apply the getting clearer tag to one more area. Can there be such a thing as winning in Iraq based on the surge? There are steps and stages to this, right? There was the planning and strategy, (uh huh) the logistics and getting the troops there, the fighting, removing the evil wizard, and then maintaining control and keeping the peace, and rebuilding the infrastructure that we dismantled, and getting out and seeing if what we did holds up. Looking at one stage of it, like the surge, and calling it a victory is like what Bush did on the aircraft carrier. It won't be over until we get out and see if what we planted survives or there is chaos. If it doesn't work is it their fault? You can already hear that drum beat. There are more reasons, but not now. But just looking at one part of this and saying the whole thing worked certainly doesn't work.
It would be nice to hear them talk about health care and other topics, but there are other issues: character, honesty, predictability, openness and believability. And can we at least begin to wonder about the Invisible Hand?
Given his reputation as being a maverick, it's disappointing to see McCain become so predictable in his move for the White House.
We're having interesting months, have a great one.
Steve
If you are interested in reading more about us/US, let me know. I will be writing more often than I can in The Light Connection . Let me know at stephenj2@cox.net and I'll email it to you.
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