I would guess that what WILL be the hottest issues are (further) socializing of health care, (further) redistribution of wealth, and (further) bailouts of failing companies. What SHOULD be the hottest issue is how we get rid of our fundamentally unsound monetary system.
In this WSJ piece
today, economist Gerald O’Driscoll argues in favor of restraining the Fed.
He writes, “The subprime saga follows a familiar pattern. Easy credit begets a boom and then inevitable tightening of credit bursts the bubble. What is not familiar is the scale of the devastation wrought in this boom-bust cycle.”
Is it possible that Obama could be persuaded that his “Nixon goes to China” event should be the dismantling of one of our worst national blunders, namely the creation of an unsound monetary system under the control of an unaccountable oligarchy?
Probably not, but it’s worth a shot. We got into this quicksand just about a century ago, following the Panic of 1907, when a group of diabolical politicians and bankers took advantage of the panic and confusion to push their central banking utopia on the country. It’s time to start getting out of the quicksand.
