Sunday, 13 May 2012


There has been an awful back-draft lashing European politics and markets, sparked by the exercise of public prerogatives that seemingly did not follow the right plan.

All this angst and run-away conclusions are more than a little bit off-putting, since by demonstrating and maintaining a plurality within the framework of one currency, no borders—and even the framework itself might not be the essential part, worth preserving at the expense of its constituents—people, the public, politicians and the press (as opposed to dogmatists, demagogues and the media who are practiced dramaturges, re-characterizing the whole affair and dictating how people ought to think, wither and tremble) are talking above the general din about policy compatibilities and tenable directions. I think the counter argument that the pot has no right to criticize the kettle until it solves its own issues can be abused and is a childish way for preempting a discussion: the EU did not appreciate the irony of America’s economic chiding, coming in a variety of forms.
Nothing was ventured, as a result, about the structural differences, maintaining a plurality in both super-states but one noticeably without mechanisms for intervention. The US Federal government is not telling the States, like Texas, that do not levy an individual income tax on its residents to do so or accuse some localities of providing too many incentives. Maybe, however, it will come to that and we still maybe unwilling to learn from one another, since economic problems can always be masked behind a glossier faรงade of potential for profit and assigning blame is easier than accepting change. A crisis is always driven by under-estimates (willful or unintentional) that cannot hope to keep enthusiasm in check.