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By Richard Fernandez

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A Martingale Sang in Maiden Lane

October 27, 2010 - 3:13 pm - by Richard Fernandez
truepeers
2010-10-27 23:18:57

Well, the wisdom of doubling down really depends if there is a fallback position, if one can accept ones losses and move on. Is there a center that the left can retreat to and negotiate with some of the right? I’m not an American, but it seems to me that’s no longer the case in the US. Things have become too polarized and once the center ground is gone, it’s a case of one or the other side winning and destroying the other in its present institutional forms. Seems to me the left is in a bind because there just isn’t any more money or credit to keep building government (and if that’s right the left must wither) and there probably isn’t availabe to them the coercive power to confiscate more if much more could reasonably be taken, or to shut up the opposition. HOw many in uniform would do that job? In this situation there is only one course, find out if this really is the situation, and double down. Rational options aren’t always available. Trainwrecks are sometimes inevitable because there is no way to radically rework the system until it crashes. If it is fated to crash, find out. But once it does all kinds of new possibilities will emerge and people should start thinking about those instead of getting stuck in visions of the end.