Now that many seem to be predicting Obama's win, the new trend is to look ahead to if/when he wins and what will happen. One interesting take on this is historical- comparing the transition that the administration will undergo from Bush to Obama (or, to be fair, McCain).
Robert Rudney of CommonDreams has taken this historical outlook to another time of economic crisis when Hoover left FDR in charge and how the transition went then:
"The 1932-1933 crisis saw the rise of both right-wing and left-wing movements – and demagogues, as well as farmer demonstrations to stop foreclosures, extensive labor unrest, and the growth of Hoovervilles. If, today, unemployment levels mushroom and home foreclosures continue to increase, we may see parallels: movement to both right and left of the political spectrum, anti-foreclosure demonstrations, labor turbulence, and a dramatic growth in homelessness."
"By narrowing the choices, the lame-duck Bush Administration has already forced both candidates to accept its prescription of a financial bailout. During the transition period, Bush and his advisers may attempt to further restrict what policy options remain open to a possible Obama Administration."
While it seems a stretch to compare the economic situation we find ourselves in today with the Depression of Hoover's era, it seems logical at this point to look to the future and to the "lame duck" period and beyond.
Wednesday, October 29, 2008
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