Third World
Discuss Rosa Brooks' Sept. 18 Op-Ed column.
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From the Los Angeles Times
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Typical Lib Dribble... cheering on the demise of her own team.
Darren Terry @ 9:44 AM PDT, Sep 19, 2008
This column takes a very serious issue and trivializes it. The core problem is that the U.S. has been living beyond its means for decades due to easy credit that became stupid credit. Everyone from Wall Street to Main Street has been a willing participant in this. Now the bills have come due and it's time to live within our means. The government's efforts are really focused on trying to ensure the bad debt unwinds in some rational way (vs. the panic occurring now) to avoid serious damage to the economy. New regulation is desperately needed - "Trust, but Verify".
Lance @ 9:34 AM PDT, Sep 19, 2008
Having moved to LA from Australia 12 months ago, I was quite shocked at the struggle most people seem to be having with health insurance, unemployment benefits and other seeming privledges we take for granted in Oz. That coupled with the state of some of the roads, pavements and neighborhoods. The running joke "we foreigners" have is that the US is the most advanced third world country we have been to....kinda scary and sad as it is such an amazing country. So Rosa, you aren't the only one who thinks that way, albeit tongue in cheek.
Anth @ 9:34 AM PDT, Sep 19, 2008
As someone who spent many years abroad, with friends and acquaintances consulting for the IMF and Asia Development Bank, I greatly enjoyed your incisive column. We (the USA) have been bashing heads and mucking with other countries' governments for years because we "know best". I imagine your irony was largely missed by LA Times readers, who, as Americans, are likely not aware of our countries record pulling the strings of the IMF. Thank you for writing this apropos and biting column. You've really scored a bull's eye!
Mark in Altadena @ 9:34 AM PDT, Sep 19, 2008
Don't forget crumbling infrastructure, tens of thousands of homeless on the streets of LA and other cities, woefully inadequate healthcare and education systems (except for the wealthy), inability to respond to natural disasters. Heckuva job...
ML in LA @ 9:24 AM PDT, Sep 19, 2008
If they will take these risks for profits, who's to say they aren't taking similar risks with off-shoring jobs for profits. What happens when that house of cards collapses? Will they be able to pump 5,000,000 jobs back into the economy overnight?
Tim @ 9:13 AM PDT, Sep 19, 2008
The bottom line: Because of globalization, it no longer matters to Wall Street whether Americans are educated, healthy, or employable. Wall Street is never constrained to act in our interest. On the other hand, because of the Fed the public is recruited to act in Wall Street's interest, whether we want to or not. So the bulk of the country progressively slides into Third-World status while Wall Street either thrives or gets bailed out.
Siegfried Othmer @ 9:04 AM PDT, Sep 19, 2008
The essential problem is that Wall Street now dominates Washington behind the scenes. Wall Street is joined at the hip with the Fed, whereas the Fed was wisely "insulated" from political control at the outset. Hence there is no impediment to its being controlled by Wall Street. This control is not overt. Rather, it is understood that the welfare of Wall Street underpins the welfare of the country. Unfortunately, Wall Street is now globalized in its vision. Its welfare, in turn, is only loosely coupled to the welfare of the country.
Siegfried Othmer @ 8:49 AM PDT, Sep 19, 2008
This article was quite amusing with the sarcasm used to lighten the load of the problem looking us straight in the eyes. I don't know who to "blame" or how to "fix" it. I do know that I can't pay for necessities--food, shelter, utilities. I see close friends without electricity or running water, still, after June's flooding here in Iowa. I saw their son/brother come "home", from serving his country, to conditions worse than over in Iraq. It seems to me, despite the satire used, that Ms. Brooks has hit the nail directly on its head here. If we aren't nearing 3rd World status, why the struggle for bare necessities every single day?
nikee319 @ 8:47 AM PDT, Sep 19, 2008
Gee, how convenient you forgot to mention Obamas two top economic advisors, Raines and Johnson served as CEO of Fannie Mac, and one took about $80 million when he left and was in place during the many fines they incurred. Gee, imagine that, the Times and you forgetting to mention that about this vastly experienced Obama who not only passed on 18 million votes, but didnt even ask her if she was interested. Youre pathetic and a disgrace to womanhood. Dick in Palm Desert
Dick in Palm Desert @ 8:39 AM PDT, Sep 19, 2008
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