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Pastimes : G&K Investing for Curmudgeons

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To: Uncle Frank who started this subject12/15/2000 7:44:55 PM
From: FaultLine  Read Replies (1) of 22706
 
Medal of Honor
By THOMAS L. FRIEDMAN
nytimes.com

EXCERPT:
It was the equivalent of taking a bullet for the country, because the rule of law is most reinforced when ... the recipient of the judgment accepts it, and the system behind it, as final and legitimate. Only in that way — only when we reaffirm our fidelity to the legal system, even though it rules against us — can the system endure, improve and learn from its mistakes. And that was exactly what Mr. Gore understood, bowing out with grace because, as he put it, "This is America, and we put country before party."

If Chinese or Russian spies are looking for the most valuable secret they can steal in Washington, here's a free tip: Steal Al Gore's speech. For in a few brief pages it contains the real secret to America's sauce. That secret is not Wall Street and it's not Silicon Valley, it's not the Air Force and it's not the Navy, it's not the free press and it's not the free market — it is the enduring rule of law and institutions that underlie them all, and that allows each to flourish no matter who is in power.

One can only hope that Mr. Bush also understands that the ultimate strength of America and the impact it has on the world does not come from all the military systems he plans to expand (though they too are important), or from Intel's latest microchip. It comes from this remarkable system of laws and institutions we have inherited — a system, they say, that was designed by geniuses so it could be run by idiots. [cfl: very mudgeon-esk]

Mr. Bush will soon discover that preserving this system is critical not only for America, it is critical for the world. America today is the Michael Jordan of geopolitics. Many envy the institutions and economy that ensure our dominance; others deeply resent us for the same. But all are watching our example — and all understand, at some level, that the stability of the world today rests on the ability of our system and economy to endure.
Al Gore reinforced that system by his graceful concession; Mr. Bush will have to reinforce it by his presidency. Now that the campaign is over, and the system has determined the winner, no one should root for his failure. Because, as Al Gore would say, "This is America," and it's the only one we've got.

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-cfl
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