Yesterday I argued that it is wrong to label auto execs as stupid. The argument is basically that these are intelligent people with the resources to get a good picture of what is coming down the pipes. As little as we may like their moves, they are in fact acting in their and their company’s best interests.
A deeper critique is that demonizing, or stereotyping those executives blinds us to actual facts and trends and so renders our analysis useless.
Now we get to politicians. The current crop of politicians is mostly about feathering its own nests. The US house of representatives and senate have been corrupted and are now seen as a quick road to wealth and power. Since you can’t get elected without a massive war chest billionaires buy politicians by the simple expedient of funding the morally pliable.
The stupidity comes in when you look at the policies: compare and contrast to lead up to the Great Depression! That is one of the classic definitions of stupid, doing the same thing over again and expecting different results.
Are the results this time going to be the same? No. Why not? because the Great Depression happened in a bipolar world the US versus Europe. Today we have a multipolar world, with the US, EU, China, Russia being the major poles.
Only the US and EU are going down the rabbit hole this time, and the EU still has time to avoid falling in.
The rest of the world will have a moderately bad recession and the US economy will crash. The EU as stated can go either way.
Yesterday I argued that it is wrong to label auto execs as stupid. The argument is basically that these are intelligent people with the resources to get a good picture of what is coming down the pipes. As little as we may like their moves, they are in fact acting in their and their company’s best interests.
A deeper critique is that demonizing, or stereotyping those executives blinds us to actual facts and trends and so renders our analysis useless.
Now we get to politicians. The current crop of politicians is mostly about feathering its own nests. The US house of representatives and senate have been corrupted and are now seen as a quick road to wealth and power. Since you can’t get elected without a massive war chest billionaires buy politicians by the simple expedient of funding the morally pliable.
The stupidity comes in when you look at the policies: compare and contrast to lead up to the Great Depression! That is one of the classic definitions of stupid, doing the same thing over again and expecting different results.
Are the results this time going to be the same? No. Why not? because the Great Depression happened in a bipolar world the US versus Europe. Today we have a multipolar world, with the US, EU, China, Russia being the major poles.
Only the US and EU are going down the rabbit hole this time, and the EU still has time to avoid falling in.
The rest of the world will have a moderately bad recession and the US economy will crash. The EU as stated can go either way.