PAST PERFORMANCE IS NECESSARILY INDICATIVE OF FUTURE RESULTS

S also stands for 'sinister,' 'scurrilous' and 'slippery'

It met rarely and whined often. It gave up before the actual deadline (Nov. 23). It sought to shear over a trillion off the national budget, but came up with peanuts. It inspired satire in the form of, among other things, superhero cartoons. It was the “supercommittee.” For these reasons and so many more, America’s elite political body truly lived up to its name in that was super-lame.

This again proves that when Congress gets together and can’t make a deal, guess what? Moving the date back and getting together again — on the taxpayers’ dime, replete with catered lunches – still doesn’t lead to a deal. Funny how that works.

Whenever confronted with the need to make an actual decision, Congress prefers instead to commence lengthy studies, probing inquiries and cerebral surveys — all of which require much munching and lunching and the drinking of fresh coffee and spring water — that rack up bills yet infrequently give rise to any answers…

I voted for Obama. I might have voted for McCain if he hadn’t picked Sarah Palin as his running mate. I never voted for Bush because my background is in the oil market and I knew a little too much about Dick Cheney. I am neither a Democrat, nor a Republican (although, before graduating university, I worked for House members on both sides of the aisle, just to see what it all looks like close up…It is not pretty).

I am an Independent. Next election, I see very little that captivates me.  I know I won’t be voting for the Bloviating Obama.

Unfortunately, there isn’t much left to choose from after you deduct the Limousine Liberals and the Remedial Republicans and apply some basic standards.

Yesterday, The Wall Street Journal published an editorial floating the idea of Obama stepping aside to allow Hillary Clinton to rule. The premise was that she would possibly ease the gridlock beleaguering Washington.

Given the extremity of the gridlock, I would say it’s very Pollyanna-ish at this point to believe that HRC can just sweep in and fix things up. Republicans who hate everything Obama stands for are not going to lie down for her, either.

Harvard University convened luminaries of the right and the left at a conference this fall to discuss how to address what appears to be a long-term problem developing in our increasingly fragile American democracy — and how to solve it.

Luckily, it turns out the wise Framers of the U.S. Constitution anticipated that America might eventually become a big, finger-pointing mess and built in a nuclear option.

It’s called Article V.

Harvard’s fiery oratory focused on Article V’s potential as an escape hatch for what ails us. The way, warned famous academics, would be long and hard.

But perhaps worthwhile.

Even so, does our nation have what it takes to head down the perilous path of the Constitutional Convention?

Comments

  1. OK —reality check here. Today 11/23/11, Eastern Europe is joing the periphery in deteriorating. it was so bad before that it depended on bank loans rather than bond issues. So despite the pitiful state of US economy [irrespective of govt-stats] ———-a debt/GDP which could rival Greece if contingincies added in——the US is awash in demand for its debt—–and Fed Reserve plus Treasury helping provide it—somehow it seems likely that the streets of Europe may revert to use of dollars vs Euros—based on the insightful contribution of the author vis Soviet breakdown.

    So Congress can afford to punt to Fed—-print money instead of altering budget. The bill will not come due for several years—as the inflation kicks in more widely. So the trick is to analyze as all political analyses do–who wins and who loses?
    From inflation. Its pretty easy actually–yesterday I asked a student OWL type –in from the cold–”is inflation good or bad?” –well of course “It is Bad “she answered prompted by years of talking heads. “Why” I asked–and of course she was not quite sure.

    I suggested an example for her to put things in perspective: “If I have a box of donuts right now—-and you must clean the dishes tonite to buy one donut, and we have 100% inflation overnight—is inflation good or bad?” She quickly grasped the ever-elusive bottom line. Those who own lots of hard assets –or even patents—-LOVE inflation. Those who have fixed wages–with little upward pressure due to globalism impact on wages–those people must work twice as long for my donut.

    I would suggest that the international investors who are paying excess prices for US bonds of questionable long-term value instead buy US farmland where they grow the stuff to make donuts–the ultimate hedge?

  2. Bruce Tanis says:

    A constitutional convention could be just what the doctor ordered, so long as it does away with lobbying, insider trading by Congressmen, Senators and House Speakers (see Pelosi and Visa), and caps all campaign spending at $150,000.00 per candidate. At the same time, perhaps the convention could reduce the Federal government back to its roots of defending our country and arbitrating disputes among citizens, rather than sticking its Federal nose and sticky Federal fingers into health, education and welfare, which, if they require any government involvement, should receive state involvement only. The vote-buying and pandering to special interest groups has to stop on both sides of the aisle.

  3. garrymoore says:

    hi to all leahmcgrathgoodman.comers this is my frst post and thought i would say hi –
    thanks speak soon
    garry

  4. Well news for the markets from maybe IMF via Italian market makers–errrr–i mean news folks. IMF mysteriously came up with 400 or is it 600 Euros —or 800 BILLION dollars this weekend to bail out italy for the next 12-18 mos. That would be about 25% of the outstanding debt without regard to maturity. I guess that would mean you hope your paper is maturing fast. Next up would be Spain—-errrr I mean Greece which has gone from haircuts of 20% to 50% to now 75%? That woould be another 200 billion somethings—–then Ireland waking up and noting if your crowds turn out–you get a LOT BETTER DEAL. well —-I think this is a wonderful XMAS present to the ultra-wealthy of Greece from the US via IMF. So now we can understand why the Grinch stole XMAS in Ohio ——to move the average length of one of the world’s 40% of yachts moored in Italy up another 20-40 feet. Geez if the saudis can use 747′s like Cessnas—-why not every billionaire have his own QEII—that should re-energize the Italian economy—scraping the hulls of yachts, job creation at its best.
    and for the US booming economy—-the real job opportunity is in foreclosure management–or mismanagement or is that re-mismanagement. I guess it doesnt matter–just get into the street ASAP so your preserver can recycle all your copper pipe and wire–and dont forget the kitchen sink–they wont. Its bonus time on Wall Street and every little bit helps.

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  6. well that is some nuts stuff

  7. Ok update at 12/16/11—–all those things fell apart. Nobody will admit how much has been pumped into ECB from Fed now—ECB has put up hundreds of billions of $$$ while its under pressure from Germany to refrain from running its printing presses. All EU countries under pressure as monies shift to and fro——and MF Global’s Don CorzinnI continues to assert he never told them to break the glass in case of emergency to ship re-monetized collateral to City of London Dark Pools cess-pools or whatever they deserve to be called.

    So we slide ever closer to global funds freeze up as we slide into trade freeze up and economic cliffs. This is the fruit of the deliberate overleveraging of sucker states’ like Greece and Italy—and PRU continues to fall.

    Oil Gold Silver and stocks fall while people apparently pay a holders fee to banks to hold $$$ bonds. Does any of this bear any relationship to a free market? Zero interest loans? Fear is the common denominator because it appears that the entire financial world–at least NYC and London— has as its sole aim the stripping of assets from citizens.

    It should be chilling to a few historians–or maybe just “i wondered how long it would take” that the Northern [Italy] coalition has openly suggested secession from Italy in favor of fiscal unity with Germany? Sort of like Austria in 1838? What price East Prussia? Hungary?

    Is there anything inherently wrong with a stong european core? Albeit English opposition to such constructs has been negative back to about 1066.

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