by Emmett R Smith
If in this year of 2008 these would-be presidential candidates we now have on our hands still don’t somehow “get it,” then Americans indeed will have to wait “four more years” for any meaningful, that is to say major, turnaround in American fiscal policy.
Years of dull misery passed between the 1929 market collapse (because of overextended credit) at the end of President H C Hoover’s first year in office, and the election for good or ill of la Roosevelt in 1932. And, history also shows, F D Roosevelt arguably had to depend on the outbreak of war in 1941 fully to recreate the american economy. What Roosevelt in the interval did do was to try to inject new ideas into legislation and government.
To win his chance at this the close student will see that the ex-Governor of New York in fact appealed to that same sense of optimistic american “exceptionalism” that so many other less-gifted men have so often since waved around like a dead cat….
For good or ill, Roosevelt rode the then-ascending latemodern tide of nationalism. The image of the can-do-it-all nation-state was then the living breathing metaphor in the popular mind for good governance, and Roosevelt knew this because he had an innate, an intuitive, grasp of the political meaning of his time. Meanwhile, in 2008 both the Democrat Senator from Illinois and the Republican one from Arizona now lunge at tomorrow, men in a coma and men certainly who give us no sign of any substantial awareness of what is actually going on in the world:
There is in fact now in existence a transcendant multinational or “global” economic state without borders.
It is not a constitutional state as yet. It has but scant selfawareness thus far and, certainly, no grasp of the need to provide adequately even for its own longterm continuance. But, it flails on its way with great vitality, and it processes raw materials at a furious rate, it thrashes about in the world and distributes its product. All of that gets done institutionally speaking as a wadded-together immediate set of adventitious effects — but still with no organization beyond mechanisms for the transfer of electrons symbolizing capital. These accounts-in-flux are in fact the whole extent of the global market-state’s institutional “memory.”
So far messrs McCain and Obama have said nothing about any of this, not really, Mrs Republican Governor of Alaska Todd Palin yet awaits word from Jesus in the matter (“Do NOT do that!”), J Biden is a gabby extravert and so, as matters stand now, Americans may be on the verge of postmodernity’s first rip-roaring great depression as Mr Judson Andersen of Hammerhead Town in Squawbunion County in southern Minnesota says, “Without a single idea in their God-damn empty heads about what in the Hell is REALLY happening!”
A new Roosevelt may well be needed by 2012, therefore, but the only analogy will be if the President elected then does the authentic new work of genius already needed so plainly to the students of the Sufis at least, to re-establish the authority of constitutional goverment and sovereign wealth, albeit be it in some altogether new stakeholder form.
[Emmett R Smith all rights reserved 27 September 2008]