As I wrote back in 2008 (I could start so many posts like that but my head has to fit through the odd narrow door) Barack Obama ought to be a one-term president. Unlike many, I didn't think that such a status would have much to do with the administration per se, but with the clash of the programme upon which Mr Obama was elected and reality. The truth is that the USA is a deeply divided society, whose banks are in essence criminal enterprises, facing a long term loss of economic capacity, markets, dollar reserve status, and fiscal continence. It was fairly obvious in 2008, after TARP, that money would be diverted to banks and monetary gods rather than infrastructure and jobs, and also that the combination of corporate socialism for business and the exhasution of overindebted muncipalities and states (especially after AIG) would bring things to grief. No increase in demand--that is, a concerted attempt to lower unemployment--would be permitted and no tax cut for small business w...
This is a collection of personal and largely unedited observations covering the years from 2006 to now; I assert my copyright but am fine with links and footnotes. Some posts are obviously much more researched than others, and any errors are wholly mine except where I have innocently disseminated or linked to other bloggers or commentators.