Sometimes one begins to feel like the Ghost of Christmas Future in Charles Dickens "A Christmas Carol." Pointing the bony finger at what will transpire in the future. May one suggest Alice Rivlan former CBO Director under Clinton as a guest. She might be able to address the peril that the American republic is facing.
In Europe, both Greece and Italy have had interim or technocratic governments appointed. .Since these new governments were not elected this amounts to a coup that the financial markets have dictated in order to maintain economic and even civil stability. Call it what you want but this is totalitarianism. Like the Roman republic once that bridge is crossed, when if ever is the republic restored? As the European Sovereign Debt crisis further spreads across Europe how many more interim governments will be established?
As for the US the following was posted to your Comment Board.on 11/15/11
" It was on this very Charlie Rose program some years back that Gore Vidal said, "That the United States became a National Security State in 1948." With the advent of nuclear weapons and the dreadful consequences of nuclear war, national security trumped all. Throw in the reality that the US was the richest and most powerful nation the world had ever seen and the stage was set for the corruption of the system. With all the varied interests, all jockeying for position and power the game of politics has become all consuming. As for the epiphany, it is when the game of politics becomes more important than governing itself that the system begins to fail. Unfortunately in ones opinion it is only when all the money and power disappears that the game stops as everybody will be too busy trying to survive." TABS
Alice Rivlan said this morning (11/16) on CNBC that a broken Congress appointed a Super Committee to remedy the problem of budget cuts to decease spending. If the Super Committee proves to be broken as well, then she fears for the Republic. Thus the question is when will the FINANCIAL MARKETS dictate that an interim government be appointed in the US to maintain economic and even civil order?
It is quite ironic Mr Rose that several weeks ago one had come to the conclusion that the entity known as the Global Financial Market wants the problem of European and eventually US sovereign debt solved and it doesn't care how it gets done. What the financial markets care about is stability and order. One thing is certain and that is that Progressive era is coming to a close, sunk under a Titanic mountain of debt.