Wednesday, October 08, 2008

A Return to the 1930s?
I was at the Tenant In Common Association's annual conference in Las Vegas on Monday. I will post more about it over the next few days, but one episode has stayed with me. One of the keynote speakers was an economist named Todd Buchholz, a smart guy and an entertaining speaker (despite his persistent book pimping). The question and answer session was more illuminating than the speech. The first questioner, an obvious oil and gas sponsor, ripped into Buchholz for not knowing the exact figures for oil and gas demand v. production, and vehemently objected to Buchholz's assertion that the price per barrel of oil was going to drop to $60. The second questioner - more like commentator - wanted confirmation for his opinion that an Obama presidency and Democratic Congress would usher in the return of powerful labor unions, and the disastrous impact this would have on the economy. Buchholz did not feel his concerns were warranted. The final questioner/commentator wanted to know why the United States isn't breaking all trade agreements.

Talk of another depression, nationalistic tendencies and fear of all-powerful labor unions bring to mind the 1930s. This Credit Crisis has turned the world upside down. I am waiting for calls to bring back the gold standard. I think I just saw in what direction the far Right's talking points are headed. I am scared to think of the far Left's talking points.

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