Candidates can’t even be serious about financial crisis
Articles — By forcechange on October 7, 2008 9:28 amDavid Brooks analyzes the global financial crisis, identifying some of the preconditions as: the rise of China, the vast wealth of petro-states, and easy monetary policy, all of which created “an ocean of excess savings that had no place to go.” This ocean of excess was then managed by a few thousand traders who, while staring at their computer screens and models, were “three or four psychological levels removed from normal economic activity.” This, along with good old fashioned human fallibility, contributed to the current global crisis we face.
Brooks concludes by noting that in this time of ultimate financial crisis, when what we really need is a leader that understands the problems and can provide leadership, our two presidential candidates are stuck talking about Bill Ayers and Charles Keating.
If our candidates can’t even be serious about a clear and present crisis like the global economic situation, how will they ever address long-term issues like energy policy and climate change?
Facebook Comments
0 Comments
You can be the first one to leave a comment.