The Bankwatch

Tracking the consumer evolution of financial services

Quick thoughts on the State of the Union address tonight

When I listen to the disappointment about Obama’s speech tonight there is a thread that fits with The New Capitalist Manifesto

When I say Obama’s crisis is one of management, here’s what I mean.

Poor Obama. He actually looks confused and scared at the end of the speech. Sad. His crisis is one of management.

What Obama’s proposing isn’t even a fraction of what’s necessary to reboot the American economy. "Within 25 years?" Visit China sometime.

Obama’s story: internetz, tech change, wrecked the american economy. 100% Wrong. Broken institutions did. Diagnosing the wrong disease.

umairh 1 hour

The thread is that there is a fundamental disconnect between old world and new world.  That thread equally applies to the old GOP and Obama. 

The State of the Union is a magnificent occasion.  Yet tonight was not just a yawn.  It was not just a GOP vs Dem ‘who is right’ kind of thing.  It was about the reality that behind the political bickering, no-one is willing to address the debt problem that America faces, and that implies all American banks.

Written by Colin Henderson

January 26, 2011 at 00:00

Posted in Uncategorized

%d bloggers like this: