Mixing the Unmixable
I don’t have an MBA and I’m not very smart about the U.S. and global economic crises, but it seems to me that the Wall Street “fluid” and bank fluidity are two different liquids. Wall Street liquid is “oil”, and bank liquid is water — and the two don’t mix.
Banks trade on trust, clear water honesty: Wall Street trades on distrust, “oily” business. When banks get in the "business" of mixing oil with water, they become murky and are rightly distrusted.
The responsibility of Congress is to keep oil and water flowing in different pipes. Congress has been complicit in mixing oil and water, and in the process has made the economic system something that is not to be trusted.
The infrastructure problem of the National Government is a “plumbing problem” — keeping water and oil flowing in different pipes — what the economic “fluidity” problem is all about. This is the challenge facing the next President, facing the U.S. Congress.
During my growing years in
During my growing years in the 1930s and ‘40s we had a “great uncle” who often came to our house after Sunday morning Mass to have dinner with us. We called him “Our Sunday Visitor” because he sometimes brought with him a Catholic periodical of that name.
As kids we were in awe of him because the only thing we knew was that he had invested in the Stock Market. We never knew if he was a loner because of his losses in the Stock Market or if he was just an eccentric rich man. He wasn’t like the hobos who stopped regularly rather he was always neat and clean shaven.
We were always fascinated to listen to him talk with dad. I remember a couple phrases he used to repeat: “you can’t make a silk purse from a hog’s ear”; and “speculation based on rumor is crazy”. Recent events prove the point again.
There was an article on MSN
There was an article on MSN News today:
http://worldblog.msnbc.msn.com/archive/2008/10/17/1548054.aspx
INDIA ASKS WHAT ELECTION MEANS FOR ‘WORLD’S BACK OFFICE’
India is worried that if Obama is elected, their economy will suffer as jobs migrate back to the US. On the other hand, if McCain wins, they are gearing up for more work to be outsourced to them.
This is what our Magisterial Leadership is trying to force us into. When do we say enough is enough?