Friday, May 08, 2009

Hooverization Continued

Willliam Greider offers a nice example of why people need to push in a much more organized way against the oblivion to which Washington's fixes are resigning the rest of the country. I've written about the California example, and Greider discusses the thousand-plus local banks that are measurably sliding down the quality slope with no assistance coming from the rest of the government. The stress-tests were for 19 of the biggest banks. There's no similar reporting from Washington on all the other banks, although this is where you can measure the financial health of the rest of the country.

I've often wondered whether the US is too big to live. One reason why it would be is that its leaders think all the action is at the top. Most people in the US who want to be leaders imitate this behavior. Anyone who does'nt is classed as a community organizer, i.e. someone who does good on the ground but has no future in politics. Obama was a community organizer, but there are signs that his rise to the top has been accompanied by taking his eye off the ball - Main Street. If this keeps up, we're looking at a long slow slide and not the bounce.

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