Rich, I am very pleased every time I get a serious response from you. It makes me feel that we can make at least a little progress in understanding on these threads.
I know that you would like Bush to talk things up, but he has to be careful to have his comments fit with the actual economic news. What is important is that he reaffirm the essential health of the economy. One of the things I don't think some of you are grasping is that if people are jittery, you have to give them more than happy talk to pin their hopes on. Lay aside policy disagreement on the tax cut: even if it were a placebo, it is the one that Bush has faith in, and can sell. Thus, he is saying that he has a way of addressing the problem, and that everyone can calm down. I read, today, two things of interest: one, most people support the tax cut. Two, there has been no further drop in consumer confidence, whatever the stock market is dong.
So, my answer is that Bush is addressing the economy with his proposals, and that they will have a salutary effect even if only for psychological reasons ( I think there is more to it, of course).
It is not yet sufficiently clear that there is an emergency, or there would be more consultation on policy among the industrialized nations. Besides,let's fact it, the integration of Europe is not exactly galloping along; various nationalities, especially the British and French, are resisting the Euro; there is still nervousness about German dominance in Central Europe; Belgium is talking about splitting; there are autonomy or independence movements in Spain, Italy, the UK, and various other countries. During the Kosovo crisis, our allies practically begged us to take the lead. How much cooperation can we expect, when all politics is local, and governments must answer to their electorates?
Anyway, thanks for giving me something worth responding too! |
