Past

Several days ago I posted RIP, Sidekick, which lamented the passing of our favorite section of the Boston Globe. As part of the Globe’s redesign, it got rid of Sidekick and added a new section — a tabloid insert like Sidekick had been — called “G”.

As I had recalled, Sidekick was localized. After reading Ron Newman’s comment to that post, which asked gently “Are you sure…?” I have to say that I’m not. I just checked with my wife, who said that the things she liked best about the Sidekick were its features and format; and that it was not localized, but addressed all of Boston.

Yet I still recall some localization. But again, I don’t know.

A search of Globe archives for “Sidekick” yields results that suggest it was. The first result is titled “News in brief: Brookline, Cambridge, and Somerville news in brief“. Most of the stuff that follows, however, is Boston regional, rather than addressed to those of us north of the Charles. Several of the pieces are by Meredith Goldstein, who is still writing for the paper.

So I’m sending her an email to ask the same question I’ll put to the rest of ya’ll who live around Boston and pay attention to these things: What went away with Sidekick? Or did nothing go away, and can the pieces still be found in G or elsewhere in the paper? Also, What has the Globe done to increase or decrease local coverage? By local I mean regions within the paper’s coverage area. As Ron points out, there is still a “Northwest” section that runs twice per week. I don’t believe that’s changed, but I also don’t know.

And, as I re-discover (while wiping egg off my face), knowing beats believing: Journalism 101.

FORWARD WITH FIBER: An Infrastructure Investment Plan for the New Administration is my second essay at the Publius Project. The first was FRAMING THE NET.

This one is a bold proposal: putting $300 billion into bringing fiber to every possible premise in America. Unlike other proposals of this sort, this one goes out of its way to embrace rather than to exclude the phone and cable companies. It challenges them to look past “triple play”, toward supporting an infinitude of businesses and opportunities that will open up when we all break free of telecom’s regulatory boat-anchors and conceptual blinders, and start thinking about wide open connectivity and capacity as a new frontier: the 21st Century equivalent of the Louisiana Purchase. And about as cheap.

Against all the ways it might not work — expectations of government incompetence and industry provincialism correctly run high — the idea is easy to dismiss as naive. But I still think it’s worth considering.

The problem isn’t what’s wrong with the current system. It’s what’s not right with it yet. That’s where we need to start looking for solutions. And that’s the direction I’m pointing here.

Interesting to read the “18 conservatives, libertarians, and independent thinkers” gathered bu The American Conservative. The current cover, The Right Choice, begins,

This election offers particularly dismal prospects for conservatives: the Senate’s most liberal member versus a Republican who combines the worst policies of George W. Bush with an erratic temper and a thinly veiled contempt for the Right. No third-party candidate has been able to break past the margins to mount an insurgent campaign.
Given these impoverished alternatives, no easy consensus emerges…

Then, the roster, how they will vote, and some excerpts –

Peter Brimelow, Nobody:
I would write in Baldwin, except that most states make that almost as difficult as getting on the ballot and don’t always count write-in votes anyway.
Oh, and Obama and Whatshisname? I’m indifferent. I don’t think President Obama will dare push an amnesty through because the Republicans would oppose it, whereas enough stupid Republicans will fall in line behind a McCain amnesty to give the Democrats bipartisan cover. But at least a McCain presidency would make it clear even to Republican loyalists what Pat Buchanan concluded in 2000: there is no solution for America but a new party.
Reid Buckley, McCain:
Loyalty, I suppose…
I am plenty mad at the Republican Party and would enjoy watching the entire double-talking leadership and its unctuous apparatus throughout the states fried in oil. I still disagree with maverick McCain plenty on the issues, and every time he says “my friends,” I wince almost as wretchedly as when George W. Bush ends his sentences with that awful moue of his upper lip, producing a smirk which in turn suggests a revolting fullness of self-satisfaction…
Barack Obama, on the other hand, for all his muddy shifting with the political winds, has made his vision clear, and it is doctrinaire Democratic left-wing socialism and therefore too depressing for words. I hew to the belief that he is also a decent man and probably politically more savvy than John McCain. He may learn. He may be knocked off his horse on the way to Damascus. But I can’t vote for the prospect of Obama’s education. So I vote McCain. Unlike the Beltway snobs (an insular pathology that now defines the East Coast from Bangor, Maine to Key West), I place my trust in Sarah Palin. Dadgummit, by golly, she speaks the American language of the plains and the frontier. I trust it, and her.
John Patrick Diggins, Obama:
Republicans have no trouble losing a war and calling it a victory, and some of them are voting for McCain for that reason. Obama, in contrast, is stuck with a war he opposed, and politics may force him to stay the course. Still, I prefer the professor to the warrior. McCain claims he is thinking only about the good of the country, then chooses as his running mate a gun-happy huntress who supported the Alaskan independence movement, which advocates secession from the United States. No wonder she is idolized by those who disdain the very federal government that built the Alaskan Highway. As Orwell observed, those receiving benefits always hate the benefactor.
Rod Dreher, Nobody:
As both a conservative and a Republican, I confess that we deserve to lose this year. We have governed badly and have earned the wrath of voters, who will learn in due course how inadequate the nostrums of liberal Democrats are to the crisis of our times. If I cannot in good faith cast a vote against the Bush years by voting for Obama, I can at least do so by withholding my vote from McCain.
Francis Fukayama, Obama:
I’m voting for Barack Obama this November for a very simple reason. It is hard to imagine a more disastrous presidency than that of George W. Bush. It was bad enough that he launched an unnecessary war and undermined the standing of the United States throughout the world in his first term. But in the waning days of his administration, he is presiding over a collapse of the American financial system and broader economy that will have consequences for years to come. As a general rule, democracies don’t work well if voters do not hold political parties accountable for failure. While John McCain is trying desperately to pretend that he never had anything to do with the Republican Party, I think it would a travesty to reward the Republicans for failure on such a grand scale.
Kara Hopkins, McCain:
When John McCain appears on screen, all vacant grin and Eeyore cadence, I reach for the mute button. I hate his wars. I don’t trust his maverick pose. When he says “my friends,” he doesn’t mean me. But I am voting for him.
Call it damage control.
Elizabeth Lasch-Quinn, Obama:
Without doubt, my decision to vote for Barack Obama for president began when I watched his televised speech to the Democratic Convention in 2004. Today on the cold page of the computer printout, it loses something. Outside of the electrifying moment of his delivery, the speech contains less than I remembered. But what is there explains the reverberations in so many parts of my inherited mental and moral universe.
Leonard Liggio, Barr:
In the presidential contest, the Libertarian Party is the clear choice for opponents of the Paulson plan and the government policies that precipitated the crash.
Daniel McCarthy, Paul:
I’m writing in Ron Paul for president and Barry Goldwater Jr. for vice president. Why agonize over whether Barr or Baldwin is the better constitutionalist, when you can cast your ballot for the very best? A vote for Paul is an endorsement of all he has accomplished (and might yet achieve) and a rejection of the often honorable but never effective course of the third parties.
Scott McConnell, Obama:
I’m voting for Obama. While he doesn’t inspire me, he does impress. His two-year campaign has been disciplined and intelligent. He has surrounded himself with the mainstream liberal types who staffed the Clinton administration. Like countless social democratic leaders before him, he probably was more left-wing when he was younger. Circumstance and ambition have pushed him to the center. If elected, he will inherit an office burdened with massive financial and foreign-policy problems. Unlike John McCain, he won’t try to bomb his way out of the mess.
Declan McCullagh, Nobody:
I am not voting for president in 2008.
This was not an easy decision, but all the candidates are flawed, at least if you believe in limited government, civil liberties, free markets, and a foreign policy far less bellicose than what we have today.
Robert A. Pape, Obama:
I strongly support Barack Obama for president. In the past, I have supported both Republicans and Democrats, choosing the candidate with the leadership qualities and foreign-policy principles most likely to advance the national security of the United States. Of course, we have no crystal balls, but leaders with sound judgment on core policies and courage to look beyond political winds of the moment greatly improve the odds of long-term success. Obama scores uncommonly high on the “judgment-courage” index, qualities that will be needed as our next president seeks to repair the damage from the triple train wreck of our overstretched military, underperforming economy, and floundering international reputation that is now undermining our national security.
Llewellyn H. Rockwell Jr., Nobody:
Nonparticipation sends a message that we no longer believe in the racket they have cooked up for us, and we want no part of it.
You might say that this is ineffective. But what effect does voting have? It gives them what they need most: a mandate. Nonparticipation helps deny that to them. It makes them, just on the margin, a bit more fearful that they are ruling us without our consent. This is all to the good. The government should fear the people. Not voting is a good beginning toward instilling that fear.
This year especially there is no lesser of two evils. There is socialism or fascism. The true American spirit should guide every voter to have no part of either.
Gerald J. Russello, Nobody:
In this election, we face choosing between a “maverick” with a penchant for militarism who has been part of the Washington power structure for over two decades, and an inexperienced figure who wants to save us from ourselves, or, as my friend Gene Healy puts it, “the Messiah vs. the prophet of doom.” The only thing they agree on is that Washington is where the power is. Add to that a supine Congress busy giving away its war-making power to the executive, what’s left of the economy to the Treasury secretary, and the decision over any controversial issue to the courts. It is hard to see why voting for one rather than the other would make any discernible difference.
Steve Sailer, Connerly:
Thus, I intend to do in 2008 what I did during the Bush-Kerry whoop-tee-doo: write in the name of a public figure who is actually trying to solve a major, long-term problem, my friend Ward Connerly. Just as Social Security can’t afford too many retirees per worker, America won’t be able to afford its affirmative-action system when the racial ratio of minority beneficiaries per white benefactor reaches excessive levels. As America becomes majority minority (by 2042, by latest Census projection), the cost of affirmative action will become crippling. By helping get government racial preferences banned by voter initiative in California, Washington, and Michigan, Ward has made the future a little less grim.

Total: Obama, 5; Nobody, 4; McCain, 2; Barr, 1; Paul, 1; Baldwin,1; Connerly, 1.

Bonus quote, from Andrew Sullivan: “If the GOP decides that Palin is the future of their party, the GOP won’t have a future.”

Last may I wrote Reunion.com spam alert, which ended this way:

  I am among the least litigious people on Earth. But I can’t help but wonder … Could I (or we) sue these bastards for false representation? Invasion of privacy?

I’m still getting comments there, I guess because (I just discovered), my post is the lucky top result in searches for reunion.com spam. The total number of results is 374,000.

It’s obvious from recent comments that Reunion.com is still behaving badly. At this point, however, I have no interest in suing or otherwise going after the company.

For those interested, I suggest reading the Wikipedia article on Reunion.com, especially the sections Privacy, E-mail Spoofing and Better Business Bureau. The Los Angeles branch of the latter gives Reunion.com a “D.” I’d vote for an “F,” but any bad grade is better than none.

New Hampshire has a Brookline, too. It’s just north of the Massachusetts border, and it’s this pretty little New England town, complete with a covered bridge and a lighthouse.

The former was born in 2001 and carries foot and bike traffic, and the latter has less modern provenance, judging from its look. And it is obviously ornamental, sitting at the corner Potanipo Pond, at what I gather is the source of the Nissitissit River.

Interesting to compare two photo sets, taken one day away from exactly one year apart. Here’s my series of the site from 2007, and here’s the one from 2008. Except for the footbridge the subjects were a bit different, but one thing stands out: the colors were better this year.

It’s hard to feel shitty when the Steve Miller Band is playing Jet Airliner in the middle of your head. Or smart, either — at least in my case.

Jeebus, all these decades I’ve been thinking the chorus was

  Big old jet had a light on
Don’t carry me too far away
Oh oh oh big old jet had a light on
‘Cuz it’s here that I’ve got to stay.

Turns out “had a light on” is “airliner”. Well, duh. Of course. That’s the freaking title. But phonetically, Steve is singing “biggo jed adda line oh”. I say this with confidence because I just replayed it about ten times to make sure. That’s the audible, as they say in football.

Who knows what the hell Steve’s saying, anyway? Well, some of us do, and to explain, we have the Internet. For example, The Joker begins,

  Some people call me the space cowboy, yeah
Some call me the gangster of love
Some people call me maurice
Cause I speak of the pompitous of love

Or is that pomitus? Hell, The Pompatus of Love is a whole movie devoted to the question. The Straight Dope sez that “pompatus” (that’s how it sounds) actually goes way back:

  Speculation about “pompatus” was a recurring motif in the script for The Pompatus of Love. While the movie was in postproduction Cryer heard about “The Letter.” During a TV interview he said that the song had been written and sung by a member of the Medallions named Vernon Green. Green, still very much alive, was dozing in front of the tube when the mention of his name caught his attention. He immediately contacted Cryer.

  Green had never heard “The Joker.” Cryer says that when he played it for Green “he laughed his ass off.” Green’s story:

  “You have to remember, I was a very lonely guy at the time. I was only 14 years old, I had just run away from home, and I walked with crutches,” Green told Cryer. He scraped by singing songs on the streets of Watts.

  One song was “The Letter,” Green’s attempt to conjure up his dream woman. The mystery words, J.K. ascertained after talking with Green, were “puppetutes” and “pizmotality.” (Green wasn’t much for writing things down, so the spellings are approximate.)

  “Pizmotality described words of such secrecy that they could only be spoken to the one you loved,” Green told Cryer. And puppetutes? “A term I coined to mean a secret paper-doll fantasy figure [thus puppet], who would be my everything and bear my children.” Not real PC, but look, it was 1954.

Anyway, I’ve had a bad cold the last few days, and right now I’m sitting on the couch with a fever, trying to think and write while a vacuum cleaner roars in the next room. But now I’ve also got these Etymotic ER6i earphones jacked deep into my head, muting the noise and substituting ol’ Steve, singing about getting on “that 707″ — a plane nobody outside of Iran still flies. And it’s getting me high, just from the driving energy of the song.

Beats thinking about death, which comes easy when you’re 61 with a fever, a gut, and a history of exercise that consists mostly of getting dressed. But music helps. Music is the best evidence of immortality that we have.

Music is life. And vice versa. Listening to three-decade old Steve Miller on good earphones is life transfusion.

So is listening to an even older song: The Doors’ When the Music’s Over, from Strange Days, a brilliant, beautiful piece of work. To me Strange Days ranks among a handful of perfect albums, first song to last.

Which is When the Music’s Over, of course.

  When the music is your special friend,
dance on fire as it intends.
Music is your only friend,
until the end.

Strange Days came out in late ‘67. I bought it in the summer of ‘68 after Ken Rathyen, a guy on my ice cream route (he was a lifeguard at PV Beach in Pompton Plains, NJ) told me to get it. “Every song is a gem,” he said. He was right. (Kenny, if you’re out there, Yo!)

That fall I shared an apartment in an old house on Spring Garden Street in Greensboro, near Tate Street. Next door was a big Victorian, already boarded up. On Halloween night, a bunch of turned off all the lights and listened to Strange Days. After When the Music’s Over was over, we were deep in a creepy Halloween mood, and decided it would be fun to break into the “haunted house” next door. So we got a flashlight out, sneaked over, and found a way in.

There was no furniture, just empty rooms, with a coating of dust on everything… except for the footprints on the stairs. They were barefoot and small for an adult. We followed them up to the second floor, where they stopped. No other footprints went down.

Feeling creeped out, we pressed on, exploring this big old house. Still, other than the footprints, there was nothing.

Then we found the door to the attic. It was narrow, and opened to a narrow staircase. At the top was a camped room where there were a few items of furniture and some boxes. In one box was a diary by a girl who had lived there. She reported daily on what she saw out the window at the front of the attic, looking down on Spring Garden Street. She also gave weekly summaries of her favorite TV show, Whirlybirds, which last ran in 1960.

One name that appeared often in the diary was Jan Speas, who lived next door. I wondered if this was the same Jan Speas who taught creative writing at Guilford College, where I was a Senior at the time. (Jan, whose maiden name was Jan Cox and wrote as Jan Cox Speas, was best known as a writer of historical romances. More here.)

So we took the diary with us, and I brought it to Jan. Yes, Jan said, she remembered the girl well. They were good friends, and the diary was touching because the girl had later died.

Three years later Jan died too, of an unexpected heart attack. She was 46.

In August, 2004, ’s Piedmont Bloggers Conference was held in the same exact spot as the condemned houses: the one I lived in, the haunted Victorian next door, and Jan Speas’ house on the other side of that one. I wrote about it here, and told the same creepy story here (but it doesn’t come up now, which is why I’m repeating myself).

But I’m still here. Dancing on fire. And getting back to real work, now that the vacuum cleaner is off.

I’ve been reading John McPhee’s Giving Good Weight, the title essay of his book by the same name. That last link (to McPhee’s own site) calls it “a story of farmers selling their produce in the Greenmarkets of New York City as told by a journalist who went to work for an upstate farmer, and — in Harlem, in Brooklyn — turned into a salesman of peppers. greenmarketplace in New York.” It was written in the mid-seventies, now more than thirty years ago, but half a dozen years after I worked for a fresh and frozen produce wholesaler at Hunts Point Market in the Bronx, and more still since I drove an ice cream truck in the summers out to the anomalous and amazing Pine Island, out beyond the New York exurbs. Two generations later, McPhee’s prose is still so strong I can smell the setting as if I were there this afternoon:

West of the suburbs, thirty and more miles from Manhattan, the New Jersey-New York border terrain is precipitous and glaciated and — across a considerable area — innocent of high-speed roads. Minor roads run north and south, flanking the walls of hogback ridges — Pochuck Mountain, Bearfort Mountain, Wawahanda Mountain — but the only route that travels westward with any suggestion of efficiency is the Appalachian Trail. The landscape is remarkably similar to Vermont’s: small clearings, striated outcropings, bouldery fields; rail fences under hard maples; angular roads, not well marked, with wooden signs; wild junipers signaling, as they do, penurious soil; unfenced cemeteries on treeless hillsides; conflagrationary colors in the autumn woods. Moving along such scenes, climbing, descending, losing the way and turning back — remarking how similar to rural New England all this is — one sooner or later tops a rise where the comparison in an instant blinks out. Some distance below, and reaching as far as the eye can conveniently see, is a surface perfectly flat, and not merely flat but also level, and not only level but black as carbon. There are half a dozen such phenomena in this region, each as startling to come upon as the last. Across their smooth expanses, distant hills look like shorelines, the edges of obsidian lakes. The black surfaces were, indeed, once fluid and blue –lakes that stood for many centuries where north-flowing streams were blocked by this or that digital terminus of the retreating Laurentide glacier. Streamborne silt and black organic muck gradually replaced the water… The surface of the mucklands (as they are called) is not altogether firm. It will support a five-inch globe onion. For that matter, it will support a tractor — but it is not nearly dense enough to hold up a house. There are only a few sheds on the wide flats. People live on “islands,” once and present islands, knobs that break through the black surface just as they did when it was blue. Pine island, New York, is a town in a black-dirt sea — the largest and most productive muckland of them all. Maple Island, Merritts Island, Big Island, Black Walnut Island are spaced across it as well, and their clustered houses resemble small European farming communities. The fields surrounding them seem European too, for the acreages of black dirt are ruled off in small, familial segments, like vineyards in Valencia or the Cote d’Or. NO fences, no hedgerows interrupt the vista or separate one farmer form another. Plots abut. The vegetables that come out of this rich organic soil are in their way as special as wines: tall celeries, moist beets, iceberg lettuce as crip as new money, soft Boston salad lettuce, broccoli, cauliflower, carrots — and, above all, onions. What the beluga is to caviar the muckland is to onions.”

Such sweet insult to both my own style — all short paragraphs, like advertising copy — and worthies such as Kurt Vonegut, whose central piece of writing advice was to avoid semicolons.

Anyway, I got to McPhee after reading Transportation, SUV’s, Jingoism … and Chickens, Stephen Lewis‘ latest. Steve, a native of the Lower East Side and more recently of the People’s Republic of Brooklyn, is my New Yawk docent, both on site and on blog.

So, sez Steve, “I came across this article which links the rise and fall of America’s petrol-guzzling, pollution-spewing “Sport Utility Vehicles” not to fluctuations in the prices of motor fuel but to Detroit auto makers’ decades-long successful but ultimately backfiring exploitation of a US backlash against European tariffs on … American chickens!”

Sez the article,

It started in 1961 with chicken. Trying to stop a surge of chicken imports into Germany, the European Common Market bowed to the European poultry lobby and almost tripled the tariff on frozen chicken from the United States. Washington, of course, struck back. In 1963, it raised tariffs on a range of European products: brandy to hit the French; dextrine, a food and glue component, to hit the Dutch.
To target Germany, the Johnson administration imposed a 25 percent tariff on light-truck imports, a barrier that fell on Volkswagen, which exported vans to the United States. “Why should we be the scapegoats in the chicken war?” lamented Heinz Nordoff, Volkswagen’s chief executive at the time.
The chicken war ended, but the tariff survived. It explains a lot about why Detroit chose to stake its future on S.U.V.’s...
Years of cheap gas (unleaded didn’t breach $2 a gallon until 2004) helped a lot — as did government tax breaks and looser rules on fuel efficiency and tailpipe emissions. Perhaps most important, Washington used the chicken tariff to wall off the light-truck market, giving American automakers a protected and profitable niche to exploit...
The downside of this is evident today. Light trucks account for 57 percent of sales at General Motors; 62 percent of Ford’s; 72 percent of Chrysler’s. It’s not a good place to be with gas at $3.50 a gallon.

Reminds me of the textile industry a couple decades ago, when import quotas were imposed on other countries to protect businesses at home that were long gone. The other countries’ governments then sold those quotas to highest bidders, with these artificial costs passed on by foreign manufactuers to American intermediaries and customers. Maybe that’s still going on. Probably is. Dunno.

Maybe one or more of the rest of ya’ll can tell me.

Of course we’ll see more unintended consequences of forgotten policies in the next administration as well. Stay tuned for those.

Great remembrance of Paul Newman by Manohla Dargis in the NY Times. (I’d like to beg forgiveness for the annoying login required by the Times, but I won’t. It’s just plain wrong for the Times to retain that friction after it’s bothered to open its content anyway.)

My own favorite Newman moves are later ones: The Verdict, Nobody’s Fool, Empire Falls. As a journalist, I have a special appreciation for Absence of Malice, where the best performance actually belonged to Wilford Brimley, playing himself, essentially. In it Newman is by turns both passionate and, as Dargis puts it, cooler than dry ice.

He was, finally and enduringly, a good man. You knew that. It came across in his acting and his life. He’s a guy I wish I had known. Sad to see him go.

In his comment here, Mike Warot encourages me — and the rest of us — to watch this video by Karl Denninger, whose blog is here.

I did. It’s good. But I’m not sure Denninger is right. Or all-right, let’s say. Just somewhat.

Here’s the problem as I currently see it. (And I’m no economist. This is just me, one citizen trying to make sense of something that I’ve hardly paid attention to in the past. So take this with an acre of salt if you like.)

Yes, the system is rigged and corrupt. Yes, the Fed and Treasury have been messing up for decades. (As Kevin Phillips will tell you.) Yes, federal power has gone over the top here. Whoever heard of the Office of Thrift Supervision before it swooped in and sold WaMu to JP Morgan Chase? At least there’s some common sense involved with banking, and “trift” (a term that now feels euphemistic in a statist way, like “corrections”). Banking got sucked into runaway shell games, in which empty vessels multiplied and divided, as whole institutions with MBA-packed buildings grew to manage and manipulate them. Solidity and liquidity were both replaced by gasseosity — but in sectors of Xtreme Arcana that nobody outside fully understood. Thus we’ve had inflation for years, and have put off facing it, because it was hidden and the System seemed to be working.

Meanwhile the whole country became infected with the sickness of making money only for its own sake, backed by little resembling work or manufacture — a trend we’ve been seeing since the Carter administration.

The “free market” in finance has always been rigged by its Alpha beasts, its lobbied legislators and its regulators, to favor growth. But lost in this long round has been elementary horse sense about what’s actually valuable, what actually produces goods and services, what’s free and what’s not. Growth in this long round has had many costs, and we’re not even close to visiting all of them.

Perhaps it’s in our nature, with economic evidence going back to tulip bulbs. But I think it goes deeper than that. Our species pestilential and rapacious on a scale the planet has never seen before. It can rationalize chewing irreplaceable valuables out of the ground and seas, using them up and spreading its wastes everywhere. This cost-blind nature — is made manifest in a financial system that best rewards games built on games that are almost nothing but rationalizations — worse, of a sort that only its rationalizers can understand. The financial sector has become a casino in which the highest rollers have bought the house and rigged every game to pay off by splitting winnings to bet on other rigged games, while the rest of us say “Great!”, because we’re in there playing too: betting on worthless stocks, buying overpriced houses on easy credit with negative equities, running up credit card bills while thinking nothing of paying monthly interest rates north of 20%.

This “free market” was a free-for-all in which even its hands-off regulators participated. All while the country went from being the world’s leading manufacturer and creditor to the world’s leading out-sourcer and debtor — with the load now running into the dozens of trillions of dollars. Remember that we voted for the people who presided over that.

It’s tempting to blame and punish, but that isn’t what we need now. What we need is for credit to keep moving while the financial sector gradually shrinks to sane dimensions, with value that rises from 1/1 relationships between reality and perception — or at least a fair chance that good ideas will turn into good business. (I don’t want to throw smart investor babies out with the dumb investor bathwater.)

I don’t know if this $.7 trillion bill will do that. I do have a strong hunch about what will happen if it doesn’t. Or if we do nothing and let nature take its course. The entire financial sector will collapse, and the government won’t be able to print enough money to pay off its own and everybody else’s creditors, starting with China. Businesses of all kinds will close, and all but a few public utilities will cease to run smoothly. With weak manufacturing, absent small farming and other graces of traditional functioning societies, we’ll fall into a depression as bad or worse than the Great one. Cities will fail and crime will go rampant. And we’ll bore our grandchildren with stories of what it was like to hike ten miles through the snow to work at the only shit jobs that were left.

I believe this is what Warren Buffett also sees when he compares the current crisis to Pearl Harbor. I believe Buffett because he got wealthy by being sensible and prudent, and very much not of a type with those that have made a mess of the financial system.

Or so it seems to me on a Sunday morning just short of the precipice.

Oh, and I don’t hear either candidate talking about what’s really going on here. Nor do I expect them to.

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