The Man Who Wasn't There

Interesting developments in the race to be Emporer Of The World, with new data in the US showing the country is pretty much in recession. Which, of course, is no news to working stiffs in the States, as they've been pushing shit uphill with a toothpick since the big NAFTA job losses started to bite, and modern management practices meant growth went north while wages went south. In short Yanks are working harder for less. This successful business model has been having the sort of effect on the US middle class that Vikings had on monasteries in Britain in the ninth century - it's a litany of pillage and plunder from corporate America. Democrat presidential candidate John Edwards, of course, cottoned on to this sentiment writ large amongst American proles being squeezed by unsustainable credit and declining incomes. His anti-corporate position was viewed with concern, not just by Wall Street, but by hard heads in the Democratic National Committee, who have long plumped for the corporate friendly Clinton II. But this piece in The Nation by William Greider illuminates how Hillary and the ubiquitous Barak are now jumping on Edwards' Keynesian bandwagon. They're not alone, over to you Bill:

Bill Gross, the insightful managing director of PIMCO, the major bond-investment house, has called for virtually doubling the federal deficit in order pump hundreds of billions into new economic activity. When bond holders are more alarmed about the economy than political leaders, you know something is backwards in American politics.

This is gonna be one hell of a ride kids. There may just be enough fuel in the tank for this election to turn into an "I'm more left wing than you" slanging match. Bring it on I say; after all, these people are shallow enough and hopeless enough to get led around by pundits and pollsters then this is the sort of lunatic groupthink it leads to. In the meantime the architect of returning to the sanity of a pump priming economy after three decades of supply side economic madness, John Edwards, has been run over in the stampede by Obama and Clinton to seize the populist high ground. Strange days indeed. As the good Doctor would say, Mahalo