Holly,
Is history repeating itself?
I hope so. But it probably won't. The population is not in the mood for anything which would rock the boat and lower the unrealized paper profits they think they have in their mutual funds. (Hey, Joe, you gotta sell 'em before you can spend it!)
I am no Nixon fan, less so now then I was then, as his character and misdeeds come out. But the man was poorly handled by the press. He suffered from the lack of a pretty face, which protects our current smiling lip-biter from being thought of as inherently evil. Nixon, with his perennial five-o'clock shadow, just looked "mean" to boobus americanus. There was one political ad which showed a scowling Nixon's photo with the caption: "Would you buy a used car from this man?"
Life ain't fair, is it? So much of political reality and history is accidental, being in the right place at the right time and with the right face. It would take some economic catastrophe, not a failure of moral leadership, to turn our happy populace into a snarling mob ready to depose our leader. The Barron's interview with Albert Edwards was very interesting. Seems Greenspan and everybody else is scared spitless at the prospect of angering the retail investor, described by Edwards as "the biggest potential lynch mob in history."
I am hopeful but doubtful that Starr's efforts will succeed, other than some perfunctory censure, as our legislators did in condemning his sellout to China. I'm sure those Chinese and Mr. Clinton cried all night.
Jack
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