Sarkozy (the president of France, would I add for the cognitively challenged) declared yesterday that, as far as he was concerned, as long as unemployment was going up, the crisis was still worsening.
The real crisis was well started under Clinton: an increasingly unbalanced, unsustainable economy, with rising unemployment in real jobs (I know that Reagan said that being a shoe shiner was as honorable, as real a job as being a rocket scientist, but that is only illustrative of Reagan’s lack of grasp of what constitutes an economy).
That Americans are getting enraged maybe a good, necessary, although counterintuitive first step. Americans are reduced to rage because rage lessens pain (a scientific study just came out showing that cursing measurably reduced pain). It is the first step towards revolt: cursing helps.
The French have long learned to express their own rage creatively. It is not so dumb; since, in France, the higher ups can be seized at any moment by the vengeful People, they think more carefully at the broad scheme of things. Hence Sarkozy’s many correct insights. The French government made a deal with the French population that it would confront Obama with an ultimatum about banksters’ bonuses.
Of course, many American bankers will scoff: what can France do? Well, France will introduce a carbon tax in 2010. That sounds i nnocent enough. But then the European Union will have to follow. And then of course it could be applied to imports. China is probably guessing this, and making a massive move towards renewables, using the might of her communist command and control of her capitalist free economy.
Applying the carbon tax to imports will be a powerful blow against the international plutocracy that seems to animate the USA as a living skeleton inside. Indeed the delocalized American industry in nice locales such as China will be struck by ruinous taxes (as deserved). It will of course help the European industrial base (still mostly in Europe, thanks to vociferous European protesters).
At this point the USA could be put on the ropes: its plutocracy would be collapsing, its industrial base will have long disappeared, and the worldwide carbon tax will strike hard all heavy users of carbon, including air travel. Only the Hamish will look smart. OK, it’s 10 years down the road to hell, but the situation is clear: since the USA did not want to clean its act, it will be cleaned whether it cooperates, or not.
Patrice Ayme
http://patriceayme.wordpress.com/
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