Belmont Club

By Richard Fernandez

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“Never let a serious crisis go to waste …”

January 27, 2009 - 9:51 pm - by Richard Fernandez
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2009-01-28 00:53:26

Its an opportunity for the Republicans, but based on past experience, its unlikely they will take advantage. This will pass, but it should be with no Republican votes and after every parlimentary obstruction possible.

I’d like to see this held up to public ridicule, but I don’t see many in public life who are up to the job and not part of the problem.

The real elephant in the room is entitlements, particuarly Medicare, which dwarf even this (by about 40X). To this we can expect to add universal FedCare (poor care for all except the political elite) in a couple of years.

This is not likely to end well. I rather expect Eurozone results – high structural unemployment, low growth, low freedom – and increasing inflation.