Wolcott's latest is a good examination of how our debt and arrogance will be our undoing.
I don't think all of this is bad: Dobbs' program is one of the few on cable that addresses the plight of workers (as opposed to maximizing investment gains and extending corporate power--the mandate of Larry Kudlow's CNBC show), the negative impact of globalization, and the frustration over the influx of illegal immigrants. (You don't have to agree with Dobbs' tone or solutions to recognize the frustration in the Western states particularly has been bubbling hot, and has been too long ignored by the media-political elite.) But Dobbs also runs a regular segment on China called "Red Storm" that's like a blast from the Cold War past, and intended to raise alarm. It's like something out of the National Review circa 1958. One of the great paradoxes of our age is how the US can be so dimly complacent and so sharply fearful in the same breath. We're in a constant state of sluggish agitation, worked up into a righteous state of indifference.
<snip>
"Where's the fun in being the World's Sole Remaining Superpower if you can't bust your buttons and zippers with an inflated sense of entitlement, and order everyone around with a Sinatra snap of the fingers? Problem is, the US is so dependent on the kindness of foreign bankers and businesses that it can't lean on other countries with its former authority, especially with the war in Iraq demonstrating for all to see the full scope of American foolhardiness, waste, ineptitude, and crony corruption.
When our creditors get tired of being lectured, threatened, and strong-armed, they may decide to let the US sink into the morass of its own myopia and indebtedness."
I agree with Wolcott about Dobbs, I love the fact that Lou is always for the worker. I enjoy his slams on this administration. Some of the things he says make me, as a liberal, a little nervous - but not as nervous as the Fluff-pushing that goes on throughout other news shows. The middle class is fast becoming the lower class -
this election might very well be a referendum on how pissed they are vs. how scared they are. Wolcott's blog links to
this Morgan Stanley article that should really be read in its entirety to fully scare the crap out of you (as it should) but I will post the summary for those who haven't had their coffee yet:
"From Beijing to Dubai, there is a growing undercurrent of economic anti-Americanism. The irony of it all is truly extraordinary: The US has the greatest external deficit in the history of the world, and is now sending increasingly negative signals to two of its most generous providers of foreign capital -- China and the Middle East. The United States has been extraordinarily lucky to finance its massive current account deficit on extremely attractive terms. If its lenders now start to push back, those terms could change quickly -- with adverse consequences for the dollar, real long-term US interest rates, and overly indebted American consumers. The slope is getting slipperier, and Washington could care less."
The one positive note, to me, is that the economy is quickly becoming a national security issue. A very serious one. And the Democrats can, with a good first push, make this THEIR issue.
This post of mine delves into how Republicans have already gone on record with their stance. As have the Democrats.
And We win. Now, the question remains, will the Democrats embrace this long look on strengthening National Security? Can they explain succinctly to middle America how the Right is gleefully selling us out on the FUTURE of our international standing to look good in the short-term?
We need to make things again, not just buy things. Is it possible for us to understand that we will have to pay more at the register for goods, and make do with less for the good of our nation?
Sit back and ponder
this quote Says Steve Dobbins, president of thread maker Carolina Mills:
"We want clean air, clear water, good living conditions, the best health care in the world - yet we aren't willing to pay for anything manufactured under those restrictions."
If Democrats can find a way to make Americans embrace this, this country can re-open shuttered factories and get back to the economic powerhouse we once were. If our parents and grandparents were willing to conserve, make do without, hold drives and buy bonds, why can't we? With a strong, independent infrastructure comes the power to do what is
right. You can't be a human rights champion when the world's most oppressive regimes hold all of your debt.
Will we all remember to
"look for the Union label" and not just at the price tag?
Can we do it? Are
you willing to do it?
Who do you think will win the "Lou Dobbs" election.