Thursday, January 22, 2009

In defense of Senator McCain

This morning I heard an interview with an economist on the World Service of the BBC. He told us that no one knows the extent of the liabilities that the banks have and no one really has a clear solution to the economic problems. Asked if President Obama has the right strategies for solving the economic problems, he replied that “he has the right strategists”,

And then this jibe…

“Unlike Senator McCain who did not even know that there are economic strategists” or words to that effect.

Well, are there any?

If there are, are they anything but strategists in name?

They do not know the liabilities, they did not foresee the extent of the economic disaster, and they do not have the solutions.

So, is Senator McCain not right when he professes not to know that there are any economic strategists?

Given the mess that these so-called economic strategists have got us into, the wonder is that anyone believes that there are economic strategists.

There may be many criticisms that could be leveled against Senator McCain.

This is not one of them.


Leon Basin said...

Wonderful blog.

Halewyn said...

If economy is to be seen as a game, then the team of strategists are those who play with a defensive attitude.. taking no risks whatsoever, while just trying to fill in the cracks that appear, acting as an old spring that makes an automatic force in the opposite direction to the economic present events, leaving the future to college professors, while just looking to go back to a ficticious equilibrium.

Of course, the words "banks" and "liability" are in fact incompatible due to what I mentioned about the strategists, because the historical economic failures of communist ideologies have helped the people (in response) to forgot about the importance of the concept "Institution" (in the broadest meaning), and with it, the need for a public system to find economic equilibrium at its roots, away from particular interests.

Paradoxically, in ancient times, the power of the money (and its associated welfare structure) brought some peace or equilibrium to the "law of the strongest" (physically speaking).

¿Why not believe now in news ideas in order to find an equilibrium or peace for the present law, that of the richest?

Perhaps we should look first at which means "Strategy" and how we can redefine its meaning.....