Sunday, December 28, 2008

There is something touching when I read plans for the stimulus package:

a) improve the transportation infrastructure
b) improve the educational system
c) build a solid export driven economy
d) develop new technologies
e) reform the financial system

It is a one-size fits all wish list -- every place on earth would be delighted to receive it for Christmas, so I have to wonder why the Chinese would lend us the money for a systematic transformation of our society rather than, say, spending it to systematically transform their own? Or Indonesia, for that matter?

And how do Romanians feel when they read about these wish-lists? Why doesn't the world economy lend them a trillion dollars? The stock answer is that America is more trustworthy and has a mature financial system, but reforming our financial system will surely be more expensive than building one from scratch.

Maybe the stock market is being supported by the idea that Obama is a magic negro? It is easy to see Barack as the deus ex machina who will liberate us from economics, politics and history -- because the writers weren't paying attention and now there is no other way to provide a happy ending.

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