The Value of Street Cred: The current scrambling in the Nation’s capital to figure out a way to fix permanently (hahahahaha) the debacle that is Wall Street demonstrates rather forcefully why consistent lying by a President is not a great idea. It works sometimes for some things (such as a presidential campaign) but it can’t and doesn’t work all the time for all things. George and his gang are practiced liars as we all know. Some people care about that sort of thing and some, I guess, don’t. I think it’s a bad idea generally, but also, it’s counterproductive when something like the Great Crash of 2008 comes along.
George kind of slid the Iraq invasion passed us, based on a rather extensive set of lies. Now, five years later, most of us don’t trust him to tell us the truth about much of anything. His chickens, so to speak, have come home to roost. Even if his minions are now telling us the truth about the status of our economy, we don’t trust him to devise a productive solution. And, he needs our trust. When his guys tell us they want almost a trillion dollars (pretty soon they’ll be talking about real money) and that we should trust them to spend it wisely and in our best interests, he needs us to trust his sheep herders. Instead, his sheep herders are now faced with the prospect of herding cats, all howling and whining about CEO compensation.
It’s probably the cases that, since George and his merry band are on the way out the door, they matter rather less than they used to. Still, whoever marches in the revolving door, as George skips out, will now face the prospect of a seriously damaged nation and government. Whatever they wanted to do, they will be less able to do after this mess is tidied up. It’s by no means clear that Congress can devise anything that will fix the economy in any strategic way, at least not in a week. The rush to fix seems necessary because the vultures hovering above Wall Street and the nation are watching and waiting. Globalism that seemed so wonderful last week, is now facing us big time, waiting for us to make a move . . . or a mistake. So, we dare not get it wrong.
But what’s right? Aye, there’s the rub.