Reassuring, since someday soon Mr. Obama will indeed take ownership of the GOP's economic sewer. But that day, obviously, is not yet upon him; it looks as though the multitudes may grant him 180 days or so before they reckon he's had plentiful time to stop and reverse three decades of criminal incompetence and carefree madness.
[...] The price of bank nationalization might be Obama's super-ambitious plans in other realms [my emphasis].
Which, of course, no one among the left wishes to see sacrificed -- including Paul Krugman.
It was a simple trade-off. You pick, which do you want? An immense and politically bankrupting disruption in the already neurotic financial markets just to achieve an oligarchic dismantling that can at any rate be accomplished in two, four, or six years hence? Or, however disagreeable the terms, economic stabilization now, accompanied by -- or so the strategy goes -- vast sociopolitical advances in health care, education and renewable energy?
We can't have both, not immediately. We could in the best of both worlds, perhaps, but we dwell in only one -- and its atmospherics are far less academic than Prof. Krugman's. Politics is a street fight, not a seminar.
President Obama is laying the groundwork for changes that should have been made thirty years ago, but we got Reagan instead. Nothing's immediate, but we have to start somewhere. And give it our best. 'Peachy' is young and fulla piss an' vinegar, in the nice way, maybe too nice, but he can do it if anyone can. If anyone can.
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