The American Crises

Nightbyrd nightbyrd@sbcglobal.net
Sun, 29 Dec 2002 22:39:00 -0600


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    =20
                  Amigos,

                  I am not up on who  is on what list. So if this is a =
duplication excuse me.

                  I took this from the financial Times in England.  =
www.ft.com.

                  The media is barely covering the fall of the Dollar =
against the Euro. The dollar was at 1.13 Euros not long ago. Today it's =
at .96. The world is voting on American policy and buying Euros.=20

                  America finances it's debt by selling bonds. We are in =
fact running the economy like Argentina. The difference is that the =
world wanted dollars in the metaphorical mattress. There was no other =
currency - the Yen.Pound or Mark - that had sufficient worldwide =
liquidity to offer an alternative.=20

                  The Euro is that alternative currency.=20

                  Soon the Bush administration will have to raise the =
interest rates on Bonds to find buyers. That means inflation. Which =
means cheaper dollars. This phenomenon accelerates the process of =
capital seeking an alternative currency.

                  If you are wealthy in Indonesia for instance you don't =
want to hold dollars if the value is dropping you look for an =
alternative investment. Europe has built an alternative investment =
vehicle - the Euro.=20

                  With Bush's war like foreign  policy and our =
incredible dependence on cheap oil (which is headed higher) the dollar =
is no longer a safe heaven.

                  This is over stated of course. The phenomenon is just =
beginning. But as the commentator below writes the scary thing is there =
is not articulate alternative to the Bush Conservative doctrine.

                  Jeff Nightbyrd



                  Home US Print article | Email =20
                =20
                =20
                =20
          =20
          =20
            Liberals look to recapture White House=20
            By Michael Lind=20
            Published: December 26 2002 19:34 | Last Updated: December =
26 2002 19:34=20
          =20
                =20
            In the aftermath of Al Gore's (pictured) decision not to run =
again for president in 2004, many liberals hope that a better =
standard-bearer can lead the Democratic party to recapture the White =
House and perhaps Congress as well. But a different face at the top of =
the ticket, by itself, cannot compensate for the advantages American =
conservatism has over American liberalism in the areas of party, =
movement, media and message.

                =20
            The Republican party today, having purged most of its =
liberal and moderate members, is a streamlined, authoritarian =
organisation dominated by its right wing. The decision of the =
conservative Republican Senate majority to dump one of their own, Trent =
Lott, as their leader, following the furore over his recent praise of =
the segregationist presidential candidacy of Strom Thurmond in 1948, =
provides further proof of the party's discipline and sense of long-term =
strategy.

            The Republican party is backed by a nationwide, grass-roots =
conservative movement of which the southern Protestant religious right =
is the most important constituency but not the only one. In addition to =
having a constellation of partisan magazines and quarterlies, the =
conservative movement has its own daily newspapers - The Wall Street =
Journal and The Washington Times - and its own media organisation in the =
form of Rupert Murdoch's Fox News.

            The message of the mainstream right is consistent and =
coherent: the so-called "fusionist" synthesis of free-market economics, =
social conservatism and support for US military action abroad. There are =
tensions, to be sure. Many working-class fundamentalists distrust big =
business, while many members of the Republican business elite are =
liberal in their attitudes towards sex and abortion. But Republican =
strategists manage these tensions so that they do not disrupt the party.

            If American conservatism is a battering-ram, American =
liberalism is the Tower of Babel. There is nothing to the left of centre =
in American politics that can parallel the co-ordination of party, =
movement, media and message on the American right.

            Unlike its Republican rival, the Democratic party is =
fragmented among factions with incompatible philosophies and goals: =
protectionist, pro- labour "Old Democrats"; business-friendly, =
Clinton-style "New Democrats"; anti-war isolationists; and bellicose =
"humanitarian hawks". Instead of a coherent American liberal movement =
corresponding to the American conservative movement, there are only a =
number of distinct single-issue movements - feminism, environmentalism, =
multiculturalism - combined with special-interest economic groups such =
as teachers' unions and plaintiffs' lawyers.

            Nor, in spite of conservative complaints, is there an =
organised "liberal media elite", disseminating a party line in the =
manner of the rightwing media complex. While most editors, producers and =
journalists at serious newspapers and the big networks are liberal =
Democrats, they feel obliged to demonstrate their neutrality by giving =
equal time to conservative opinions - even though liberal points of view =
are seldom if ever aired in the conservative media. The radical =
multiculturalists, feminists, Greens and diehard socialists who make up =
the tiny but vocal counter- cultural left spend as much of their time =
denouncing centrist liberals as they do combating conservatives.

            Where its message is concerned, American liberalism is at an =
even greater disadvantage. During the New Deal era of the 1930s to the =
1960s, liberals had a coherent view of national identity, the economy =
and foreign policy. The US was a melting-pot nation with a =
welfare-capitalist economy opposed to the expansion of the axis powers =
and the communist bloc. This New Deal consensus unravelled in the 1960s =
as a result of controversies over racial integration and the Vietnam =
war. For more than three decades, no new "grand narrative" has been able =
to unite the centre-left in the US.

            In the realm of national identity, most influential black =
and Latino activists reject the ideal of a colour-blind American =
melting-pot, preferring instead a vision of the US as a Yugoslav-style =
federation of several "nationalities", with compensatory privileges for =
non-whites. Libertarians on the left condemn even reasonable =
anti-terrorist measures and after September 11 2001 liberal =
intellectuals in the US debated whether public displays of patriotism =
were fascistic.

            In addition to ceding American patriotism to the right, =
liberals have been unable to agree on an economic philosophy. The robust =
state capitalism of the 1930s - symbolised by hydroelectric power plants =
and interstate highways - gave way between the 1940s and the 1970s to a =
technocratic Keynesianism that identified liberalism with macroeconomic =
management and social welfare programmes.

            This Keynesian orthodoxy broke down in the 1970s. Since =
then, liberal economic thought has been divided among neo-Keynesians, =
industrial- policy advocates and neoliberals, who are almost =
indistinguishable from free-market conservatives. The fact that these =
bickering factions tend to agree only on preserving welfare-state =
programmes is another godsend to the right, which can claim that =
liberals focus on the redistribution of income and wealth while =
conservatives have a plan for economic growth in the form of tax cuts.

            In foreign policy, the centre-left shows similar fissures. A =
small but vocal minority of Democratic policymakers supports the =
militant unilateralism of the Bush administration. But the majority of =
American liberals is divided between traditional liberal =
internationalism and a powerful strain of anti-military isolationism =
that is particularly strong among black people and in parts of New =
England and the Midwest.

            All this disunity means that the return of the Democrats to =
power would not necessarily mean a liberal renaissance. A cohesive =
conservative minority could enter into opportunistic alliances with =
different Democratic factions on different issues, in order to create a =
de facto "conservative coalition" such as the alliance of Republicans =
and conservative Democrats that dominated Congress in the 1950s.

            It took decades for American liberalism to dig itself into =
this hole. It will take a long time to climb out - no matter which party =
wins the White House and Congress in 2004.

            The writer is a senior fellow at the New America Foundation =
and the author of Made in Texas: George W. Bush and the Southern =
Takeover of American Politics
          =20
          =20
    =20


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                  <DIV>&nbsp;</DIV>
                  <DIV><FONT size=3D2>Amigos,</FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>I am not up on who&nbsp; is on =
what list. So=20
                  if this is a duplication excuse me.</FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>I took this from the financial =
Times in=20
                  England.&nbsp; <A=20
                  =
href=3D"http://www.ft.com">www.ft.com</A>.</FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>The media is barely covering the =
fall of the=20
                  Dollar against the Euro. The dollar was at 1.13 Euros =
not long=20
                  ago. Today it's at .96. The world is voting on =
American policy=20
                  and buying Euros. </FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>America finances it's debt by =
selling bonds.=20
                  We are in fact running the economy like Argentina. The =

                  difference is that the world wanted dollars in the=20
                  metaphorical mattress. There was no other currency - =
the=20
                  Yen.Pound or Mark - that had sufficient worldwide =
liquidity to=20
                  offer an alternative. </FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>The Euro is that alternative =
currency.=20
                  </FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>Soon the Bush administration will =
have to=20
                  raise the interest rates on Bonds to find buyers. That =
means=20
                  inflation. Which means cheaper dollars. This =
phenomenon=20
                  accelerates the process of capital seeking an =
alternative=20
                  currency.</FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>If you are wealthy in Indonesia =
for instance=20
                  you don't want to hold dollars if the value is =
dropping you=20
                  look for an alternative investment. Europe has built =
an=20
                  alternative investment vehicle - the Euro. =
</FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>With Bush's =
war&nbsp;like</FONT><FONT=20
                  size=3D2>&nbsp;foreign&nbsp; policy and our incredible =

                  dependence on cheap oil (which is headed higher) the =
dollar is=20
                  no longer a safe heaven.</FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>This is over stated of course. The =

                  phenomenon is just beginning. But as the commentator =
below=20
                  writes the scary thing is there is not articulate =
alternative=20
                  to the Bush Conservative doctrine.</FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2>Jeff Nightbyrd</FONT></DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
                  <DIV><FONT size=3D2></FONT>&nbsp;</DIV>
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          <TD class=3DbigHeadline>Liberals look to recapture White =
House</TD></TR>
        <TR>
          <TD class=3Dall>By Michael Lind</TD></TR>
        <TR>
          <TD class=3Dall>Published: December 26 2002 19:34 | Last =
Updated:=20
            December 26 2002 19:34</TD></TR>
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            <P>In the aftermath of Al Gore's (pictured)&nbsp;decision =
not to run=20
            again for president in 2004, many liberals hope that a =
better=20
            standard-bearer can lead the Democratic party to recapture =
the White=20
            House and perhaps Congress as well. But a different face at =
the top=20
            of the ticket, by itself, cannot compensate for the =
advantages=20
            American conservatism has over American liberalism in the =
areas of=20
            party, movement, media and =
message.</P><STARTCLICKPRINTEXCLUDE>
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            <P>The Republican party today, having purged most of its =
liberal and=20
            moderate members, is a streamlined, authoritarian =
organisation=20
            dominated by its right wing. The decision of the =
conservative=20
            Republican Senate majority to dump one of their own, Trent =
Lott, as=20
            their leader, following the furore over his recent praise of =
the=20
            segregationist presidential candidacy of Strom Thurmond in =
1948,=20
            provides further proof of the party's discipline and sense =
of=20
            long-term strategy.</P>
            <P>The Republican party is backed by a nationwide, =
grass-roots=20
            conservative movement of which the southern Protestant =
religious=20
            right is the most important constituency but not the only =
one. In=20
            addition to having a constellation of partisan magazines and =

            quarterlies, the conservative movement has its own daily =
newspapers=20
            - The Wall Street Journal and The Washington Times - and its =
own=20
            media organisation in the form of Rupert Murdoch's Fox =
News.</P>
            <P>The message of the mainstream right is consistent and =
coherent:=20
            the so-called "fusionist" synthesis of free-market =
economics, social=20
            conservatism and support for US military action abroad. =
There are=20
            tensions, to be sure. Many working-class fundamentalists =
distrust=20
            big business, while many members of the Republican business =
elite=20
            are liberal in their attitudes towards sex and abortion. But =

            Republican strategists manage these tensions so that they do =
not=20
            disrupt the party.</P>
            <P>If American conservatism is a battering-ram, American =
liberalism=20
            is the Tower of Babel. There is nothing to the left of =
centre in=20
            American politics that can parallel the co-ordination of =
party,=20
            movement, media and message on the American right.</P>
            <P>Unlike its Republican rival, the Democratic party is =
fragmented=20
            among factions with incompatible philosophies and goals:=20
            protectionist, pro- labour "Old Democrats"; =
business-friendly,=20
            Clinton-style "New Democrats"; anti-war isolationists; and =
bellicose=20
            "humanitarian hawks". Instead of a coherent American liberal =

            movement corresponding to the American conservative =
movement, there=20
            are only a number of distinct single-issue movements - =
feminism,=20
            environmentalism, multiculturalism - combined with =
special-interest=20
            economic groups such as teachers' unions and plaintiffs'=20
lawyers.</P>
            <P>Nor, in spite of conservative complaints, is there an =
organised=20
            "liberal media elite", disseminating a party line in the =
manner of=20
            the rightwing media complex. While most editors, producers =
and=20
            journalists at serious newspapers and the big networks are =
liberal=20
            Democrats, they feel obliged to demonstrate their neutrality =
by=20
            giving equal time to conservative opinions - even though =
liberal=20
            points of view are seldom if ever aired in the conservative =
media.=20
            The radical multiculturalists, feminists, Greens and diehard =

            socialists who make up the tiny but vocal counter- cultural =
left=20
            spend as much of their time denouncing centrist liberals as =
they do=20
            combating conservatives.</P>
            <P>Where its message is concerned, American liberalism is at =
an even=20
            greater disadvantage. During the New Deal era of the 1930s =
to the=20
            1960s, liberals had a coherent view of national identity, =
the=20
            economy and foreign policy. The US was a melting-pot nation =
with a=20
            welfare-capitalist economy opposed to the expansion of the =
axis=20
            powers and the communist bloc. This New Deal consensus =
unravelled in=20
            the 1960s as a result of controversies over racial =
integration and=20
            the Vietnam war. For more than three decades, no new "grand=20
            narrative" has been able to unite the centre-left in the =
US.</P>
            <P>In the realm of national identity, most influential black =
and=20
            Latino activists reject the ideal of a colour-blind American =

            melting-pot, preferring instead a vision of the US as a=20
            Yugoslav-style federation of several "nationalities", with=20
            compensatory privileges for non-whites. Libertarians on the =
left=20
            condemn even reasonable anti-terrorist measures and after =
September=20
            11 2001 liberal intellectuals in the US debated whether =
public=20
            displays of patriotism were fascistic.</P>
            <P>In addition to ceding American patriotism to the right, =
liberals=20
            have been unable to agree on an economic philosophy. The =
robust=20
            state capitalism of the 1930s - symbolised by hydroelectric =
power=20
            plants and interstate highways - gave way between the 1940s =
and the=20
            1970s to a technocratic Keynesianism that identified =
liberalism with=20
            macroeconomic management and social welfare programmes.</P>
            <P>This Keynesian orthodoxy broke down in the 1970s. Since =
then,=20
            liberal economic thought has been divided among =
neo-Keynesians,=20
            industrial- policy advocates and neoliberals, who are almost =

            indistinguishable from free-market conservatives. The fact =
that=20
            these bickering factions tend to agree only on preserving=20
            welfare-state programmes is another godsend to the right, =
which can=20
            claim that liberals focus on the redistribution of income =
and wealth=20
            while conservatives have a plan for economic growth in the =
form of=20
            tax cuts.</P>
            <P>In foreign policy, the centre-left shows similar =
fissures. A=20
            small but vocal minority of Democratic policymakers supports =
the=20
            militant unilateralism of the Bush administration. But the =
majority=20
            of American liberals is divided between traditional liberal=20
            internationalism and a powerful strain of anti-military =
isolationism=20
            that is particularly strong among black people and in parts =
of New=20
            England and the Midwest.</P>
            <P>All this disunity means that the return of the Democrats =
to power=20
            would not necessarily mean a liberal renaissance. A cohesive =

            conservative minority could enter into opportunistic =
alliances with=20
            different Democratic factions on different issues, in order =
to=20
            create a <I>de facto</I> "conservative coalition" such as =
the=20
            alliance of Republicans and conservative Democrats that =
dominated=20
            Congress in the 1950s.</P>
            <P>It took decades for American liberalism to dig itself =
into this=20
            hole. It will take a long time to climb out - no matter =
which party=20
            wins the White House and Congress in 2004.</P>
            <P><I>The writer is a senior fellow at the New America =
Foundation=20
            and the author of Made in Texas: George W. Bush and the =
Southern=20
            Takeover of American Politics</I></P></TD></TR>
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