Is there something to envy Europe for?
Mar. 27th, 2011 01:09 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
In the financial sector I mean.
I think the one thing to be jealous about is the fact that after the crisis, Europe actually started to address the issues of:
1. Market deregulation, particularly risky finances, and the troubles that come with it.
2. Transparency and accountability in the financial sector.
3. Protection mechanisms against balloons and busts.
4. Ridiculous bonuses for bankers who've run whole economies into the gutter.
For a time it looked like Obama would keep his promise to address these issues. But that was only until the, maybe 10th day of his presidency. Then we saw who were the guys he chose to surround himself with. And all hope was lost for a change.
And change didn't come.
The US economy may still be more versatile but the lack of political will to address its flaws means that the framework is now tilted in favor of other regions, and the US financial dominance may be pushed away sooner than most of us are expecting.
As for Europe, it may still have to heal itself from the ditch it was put into (yes, including wounds like Greece, Ireland and Portugal), granted. But there are some good signs there that I'm not seeing at the other side of the pond.
I think the one thing to be jealous about is the fact that after the crisis, Europe actually started to address the issues of:
1. Market deregulation, particularly risky finances, and the troubles that come with it.
2. Transparency and accountability in the financial sector.
3. Protection mechanisms against balloons and busts.
4. Ridiculous bonuses for bankers who've run whole economies into the gutter.
For a time it looked like Obama would keep his promise to address these issues. But that was only until the, maybe 10th day of his presidency. Then we saw who were the guys he chose to surround himself with. And all hope was lost for a change.
And change didn't come.
The US economy may still be more versatile but the lack of political will to address its flaws means that the framework is now tilted in favor of other regions, and the US financial dominance may be pushed away sooner than most of us are expecting.
As for Europe, it may still have to heal itself from the ditch it was put into (yes, including wounds like Greece, Ireland and Portugal), granted. But there are some good signs there that I'm not seeing at the other side of the pond.
(no subject)
Date: 2011-03-27 02:21 am (UTC)C'mon dude, did you really think Obama was going to be less corrupt than the guys who prceded him even if only for a second? The only prayer us Americans have to end Wall Street corruption is to stop voting Democrat and Republican. Doing the same thing over and over and expecting to eventually get a better outcome...you know what that's called, right?
(no subject)
Date: 2011-03-27 10:59 am (UTC)Stopping voting for A or B (which is again A) might sound like a nice idea, and even if you elect (or bring by force) C, which initially might look different from A and B, eventually C will get corrupted by power and become like them. Unfortunately I don't see hope for you guys. :-P
(no subject)
Date: 2011-03-27 06:53 pm (UTC)Thing is C, D, and E can't even get elected because most of us americans are a bunch of dumb conformist sheep. The one thing that makes these alt parties look good is also their greatest weakness: They have no financial backing from the fat cats.
But yeah, there isn't much hope for us. We've become a nation filled mainly with weak-minded pussies who won't stand up for themselves or even admit who the real culprit is.
(no subject)
Date: 2011-03-27 07:16 pm (UTC)(no subject)
Date: 2011-03-28 01:52 am (UTC)That's the rub. They might. I'm not ruling it out.
The only way to make sure c, D, or E introduces reforms is for us Americans to not get cocky. We'd need to keep on their asses. Eternal vigilance, you know.
But that's the other rub I pointed out: Most Americans are stupid weak little sheep without the backbone to do this.
Seriously, Egypt is more deserving of a democratic republic than we are. Oligarchy happened because we collectively let it happen.
(no subject)
Date: 2011-03-28 09:55 am (UTC)(no subject)
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Date: 2011-03-28 01:53 am (UTC)