Monday, July 07, 2008
Nirvana Out of Reach
His concluding thoughts:
"In its presidential season, the US, far more than Australia, is caught with a political system unable to respond to challenges. The Obama-McCain contest is a cosmetic that conceals the nature of the US's difficulty. The downturn reflects problems in the financial system and the real economy.
"For the US there is no easy solution to the structural forces driving oil, energy and financial markets. Yet much of the political debate remains in denial of these forces.
"The task for the next president is to reform US economic and energy policy - to strengthen the US at home - and to conduct a foreign policy that recognises a more diverse world defined by interdependence."