ext_32648 ([identity profile] goldsquare.livejournal.com) wrote in [personal profile] jducoeur 2008-03-19 08:04 pm (UTC)

There is a nice article on this in the New York Times.

In the end, the issue here will not be what the prime cause is (which is certainly NOT the war per se), but how the dollar and the debt of the US have limited the scope of action of the US and its responses to the ballooning of both bad debt, and its lack of isolation in the economy.

One might also wonder about the ordinary business cycle. It booms and busts, and will never do another - but the Bush Boom was particularly weak, while the bust is fixing to be righteously bad. One can certainly argue that these facts are part of both the Iraq War and the tax strategies of the Bush Administration, both of which McCain supported.

I think one could argue, at some stretch, that the strain on the US middle class has lead to a transfer of reliance upon home ownership as an investment, and how the US economy's fundamental weaknesses in the consumer sector were transferred to housing and equity, and that the reliance upon this faux prosperity of concretely spending otherwise unrealized gains was part of the Bush Economy that McCain supports - but somehow that's both weaker, and more subjective.

And no longer much of a political rallying cry.

But, in the main, [livejournal.com profile] jducoeur is substantially correct in how the US voter is both confused, and easily lead to conflate these things - which will be ashes in the mouth of McCain.

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