Sunday, August 28, 2011

Doom loop blues

It's damn depressing to see partisans on both sides use Bernanke's Jackson Hole speech to point fingers (sample right here. sample left here.) What does it say about the content of the "debate" that they both can interpret the same words to mean that the other side is in the wrong? 

Let's face it, both liberals and conservatives could benefit from some soul searching about how the events of the last couple of decades have exposed serious flaws in their ideologies. Or, as Bo Diddley put it, before you accuse me, take a look at yourself.  Until that happens, all this sound and fury is serving no purpose but to accelerate the doom loop.

Liberals: the post-WWII conditions on which much of your ideology is based are not likely to be repeated in the future.   Conservatives: the 30-year experiment in economic elitism has failed.  Talk among yourselves.

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