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The New Deal

Eyewear, last Sunday, predicted this week might look like the 30s. Well, at week's end, in some ways, it does: the current projected US Government intervention in the economy is historic, and reminiscent of the sort of measures that FDR had to undertake, during The Great Depression. This time, the aim is to head things off at the pass; currently, there is a market rally. We must see. How will this play out with Obama vs. McCain? These are thrilling, frightening, new times for capitalism, which is evolving into a new form, one highly-regulated, and underwritten by government. So - is America, (again) to be a mixed economy? Is this the end of old-school capitalism?
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Janet Vickers said…
From the point of view of someone in London it may look as though North America will have to grow up - from here it feels like a calm before another storm of witch hunts and diversionary scapegoating.
Sat Sept 20, 06:12:00 pm 2008
brian (baj) salchert said…
I wouldn't count on it, nor would I count on it being the end of money changer shenanigans. Due to such practices as the use and abuse of credit default swaps, no one knows how deep the debt hole is, and therefore whether or not AIG can be made solvent again. If it can't, and if certain others can't, all that Bernanke and Paulson wish to see accomplished
will only make it more difficult than it already is for the majority of Americans to get by.
The United States could well be on its way to third world status.
Sun Sept 21, 04:04:00 am 2008
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