Neither candidate seemed to have a good grasp of the economy. Obama is a skilled at attacking Bush and attacking the US economy. That is political strategy not economic expertise.
The partisan view is that all bad is the result of the opposition and all good the result of partisan loyalty.
It appears true that there has been regulatory capture in the mortgage and stock markets by the likes of George Soros and worse. This capture was made possible by the excessive centralization of the US economy.
The best path forward is to break the centralized regulatory regime and seek to re-established distibuted markets thoughout the US.
Neither candidate shows that they have what it takes to break the centralized regulatory regime. Obama wants to increase the centralization of the economy, McCain is good at building consensus, but seems to have no clear direction on where he would take the consensus.
America is suffering under the yoke of centralized planning. Through re-insurance, Freddie and Fannie centralized the mortgage market.
Unfortunately, the independent exchanges disappeared some years ago and the Stock market is run by a division of the mafia called the DTCC that allows organized crime in the form of hedge funds and foreign governments artificially inflate the stock on the market through failures to deliver (naked shorting).
Centralized economies are prone to catastrophic failure regardless of which band of crooks own the central regulatory regime (private crooks, or government crooks). The answer is decentralization.
The market did not decentralize under Bush's deregulation. Possibly the answer we need at this point of time in government aid in decentralization.
To get out of our mess, we need decentralization, and we need to replace the securities on the market which are too far removed from real equity with securities that better reflect actual equity, as mentioned in the last post (divorced from reality).
Post a Comment