From Gustave Gilbert’s book, Nuremberg Diary:
GILBERT: We got around to the subject of war again and I said that, contrary to his attitude, I did not think that the common people are very thankful for leaders who bring them war and destruction.
GÖRING: “Why, of course, the people don’t want war,” Göring shrugged. “Why would some poor slob on a farm want to risk his life in a war when the best that he can get out of it is to come back to his farm in one piece. Naturally, the common people don’t want war; neither in Russia nor in England nor in America, nor for that matter in Germany. That is understood. But, after all, it is the leaders of the country who determine the policy and it is always a simple matter to drag the people along, whether it is a democracy or a fascist dictatorship or a Parliament or a Communist dictatorship.”
GILBERT: “There is one difference, in a democracy the people have some say in the matter through their elected representatives, and in the United States only Congress can declare wars.”
GÖRING: “Oh, that is all well and good, but, voice or no voice, the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same way in any country.”
The New York Times and other large media outlets are finally giving more attention to one of the key problems with the Bush economy. Click here for my May 22 posting on Bushenomics. Chart one in that posting shows corporate profits peaking as a percent of GDP. This, the deflating housing bubble and Bush’s policies mean corporate profit growth and consumer spending have almost certainly peaked for this economic cycle, which should go down in history as Alan’s Bubble, after our friend, Sir Alan Greenspan. Here’s my August 26, 2005 (yes, last year) post on Alan’s foreshadowing the popping of the asset and credit bubbles he inflated. And below is today’s NYT article. Cheers!
Junior Needs a Spanking
By MAUREEN DOWD
KENNEBUNKPORT, Me. The Old King put the Boy King over his knee yesterday and gave him a good thwack with a lobster-shaped paddle.
O.K., that didn’t happen, but don’t you wish it had?
Junior certainly deserves it, with recent attempts to blame his dad for policies that led to 9/11 and the rise of Osama and Middle East terrorism.
As with so many things about this byzantine, Shakespearean relationship between father and son, reunited here at last for a wedding, a christening and a funeral this weekend, it’s an ironic turn of events.
MONDAY, AUGUST 21, 2006
The No-Money-Down Disaster
By LON WITTER
A HOUSING CRISIS APPROACHES: According to the Commerce Department’s estimates, the national median price of new homes has dropped almost 3% since January. New-home inventories hit a record in April and are only slightly off those all-time highs. Existing-home inventories are 39% higher than they were just one year ago. Meanwhile, sales are down more than 10%.
Time to get married!
Crocs, Inc. (NASDAQ: CROX): 9:07 AM NYC time, August 2nd: Tomorrow CROX earnings report (its second ever as a public company) is expected to be a blowout. That’s good news / bad news. Why do I say that?
Eleanor Holmes Norton is the Congressional “Representative” for Washington, DC… but she can’t vote since DC is not considered a state. Here’s the interview.