3 posts tagged “jon taplin”

Jon Taplin pointed his readers to Bill Gross's June 2008 Investment Outlook. This quote calls out the American people and our presidential contenders for fooling ourselves.

What this country needs is either a good 5¢ cigar or the reincarnation of an Illinois “rail-splitter” willing to tell the American people “what up” – “what really up.” We have for so long now been willing to be entertained rather than informed, that we more or less accept majority opinion, perpetually shaped by ratings obsessed media, at face value. After 12 months of an endless primary campaign barrage, for instance, most of us believe that a candidate’s preacher – Democrat orRepublican – should be a significant factor in how we vote. We care more about who’s going to be eliminated from this week’s American Idol than the deteriorating quality of our healthcare system. Alternative energy discussion takes a bleacher’s seat to the latest foibles of Lindsay Lohan or Britney Spears and then we wonder why gas is four bucks a gallon. We care as much as we always have – we just care about the wrong things: entertainment, as opposed to informed choices; trivia vs. hardcore ideological debate.

It’s Sunday afternoon at the Coliseum folks, and all good fun, but the hordes are crossing the Alps and headed for modern day Rome – better educated, harder working, and willing to sacrifice today for a better tomorrow. Can it be any wonder that an estimated 1% of America’s wealth migrates into foreign hands every year? We, as a people, are overweight, poorly educated, overindulged, and imbued with such a sense of self importance on a geopolitical scale, that our allies are dropping like flies. “Yes we can?” Well, if so, then the “we” is the critical element, not the leader that will be chosen in November. Let’s get off the couch and shape up – physically, intellectually, and institutionally – and begin to make some informed choices about our future. Lincoln didn’t say it, but might have agreed, that the worst part about being fooled is fooling yourself, and as a nation, we’ve been doing a pretty good job of that for a long time now.

Looking forward, Barack can win both Wyoming and Mississippi this week. Then he has a four week battle to take it to Clinton, Inc. in Pennsylvania. He has to prove to his supporters that he can throw a punch just as much as he can take Hillary’s below the belt hits. We’re not voting for Gandhi here.--Jon Taplin, March 3, 2008.

More smart analysis from Jon Tapin's blog.

An honest politician would tell the country the truth. The era of cheap oil, easy credit and spending more than you earn is over. America cannot exist with 70% of its economy based on consumers spending at the mall. We will actually have to rebuild our manufacturing base and that means we will have to rebuild our infrastructure. We can no longer be 16th in the world in Broadband Diffusion, 26th in the world in 12th grade science scores and pay our teachers like they were flipping hamburgers. This transition is going to be painful as people pay off their credit cards, reduce their silly spending for things they don’t need and become more resistant to the 5000 commercial messages a day they are bombarded with. I am reminded of John Kenneth Galbraith’s book, The Affluent Society. Galbraith’s assertion that the perfection of modern advertising in creating desire for products we didn’t know we needed puts the modern American member of the middle class in the position of the gerbil on the tread wheel: running faster and faster, but making no progress in relation to his neighbors.

I'm glad I'm debt free with savings in the bank, but I wish I could convince more friends and family to do the same. The problems we're facing aren't going away. The stimulus package being batted around on The Hill is a stop-gap measure at best. This is the new America, folks.