I write this post from London, where the newspapers are, unsurprisingly, awash with concerns over the enormous federal government bailout of financial institutions in the US. Fingers pointing everywhere, of course, but the overwhelming consensus is that this has been caused by a massive failure of oversight by the Republican administration and its neocon acolytes. John McCain seems to have gone completely off the deep end, flailing about for a position that conveys some plausibility/credibility/feasibility, while trying desperately to conceal his long record as a de-regulator (Keating Five ring any bells here?). His behavior seems quite unstable, and worrisome.
The meltdown of the US financial sector seems only another sorry chapter in the decline of America’s position in the world over the past 8 years, a decline that is not celebrated on this side of the pond. Only a complete repudiation of the Republican/conservative mindset on the economy, foreign policy, etc., can get us back on track.