The Greek referendum in a Post-TARP World

There may come a point when historians talk about times before and after TARP. That policy by Bush and co. was the equivalent of ancient Rome's Sulla, who upset the longstanding balance between the society's estates or classes with in-your-face policies that promoted one group over another. Recall that bailout did not make it past the House of Representatives when it was first voted upon, sending Wall Street into a tizzy.

Now the Greek PM has set the stage for round two of this great drama. Wall Street tumbled again today at the prospect that 'the people' (of Greece) will vote down the latest TARP plan (for Europe this time). They are right to fear for the European voters have always voted against Europe, the EU, and its plans.

A referendum is worrisome to world elites for it leaves no room for maneuver. The banking crisis of Europe cannot be dragged out as it has been this far. It is a showdown at the OK corral, which is a relatively unfamiliar scene today.

Obama ends Iraq war

The last time Obama ended the Iraq war he said that all 'combat troops' would return home. That was a signal to observers that the Yanks were in to stay, 50000 strong, as 'trainers' or what not.

Today was a different story. Most of the information I have heard lately is that Iraq is to be cut loose. Effective  sovereignty for Iraq: defined in political science as the monopoly over the use of violence. US troops will remain nearby but in Kuwait.

And so now begins a new cold war as Saudis and Iranians support proxies inside Iraq. They will stalemate, for now. But civilians there will continue to die suddenly

A world without Gadhafi

World leaders today are a boring bunch...technocrats often, or worse, ideologues. Gadhafi cannot be classified as either a technocrat or as an ideologue (that is for sure).

Gadhafi was the first postmodern leader. He altered his look and temper often, no doubt purposely, as part of his ruling style. These changes prevented enemies from grabbing hold of his image, fixing it as evil, mad, brilliant, stupid, or anything else in particular, thereby making it more difficult to target him. That's what will be missed...the lengths he went through to play with power and to dominate it (watch Berlusconi for some of the same moves).

What arises as a  serious question today is whether his pomo style was necessary to govern a place like Libya in modern times, whether it was a function of his own personality, or both? This is an important question because it is the question that Libya faces now.  

Occupy Wall Street: Fair play

What's it mean? I have not met them and cannot speak for them. But my take is that they saw Wall Street get a bailout and so, quite rightfully, they want a bailout too. They are 99% after all.

Wall Street banks not only got TARP from Congress/Presidents but the Fed Reserve secretly coughed up $3 Trillion for them. Don't believe me? Just check out the recent audit that Ron Paul forced from Bernanke and the Fed.

It's that simple.

So, since Wall Street has been such a great location for handouts why not wait there too for a big handout?

What Palestine at the UN means.

Well it means a lot of course. How do we know? Because it is being taken so seriously. The powers that be say that it will change nothing. But then why worry about it so much? It is because the Palestinians are about to win a great victory. It will not happen in the space of the real. That misery will continue unfortunately.

But the Palestinians have taken charge of the space of the symbolic. They own it and can do as they like. Israel and the US cannot do so...no one believes their gestures anymore. They can only fight and win (maybe) in the space of the real (which is why they say/hope that a new inttifadah will soon follow; that is the space of the real. They understand that and can work it. But the Palestinians have learned). But the other, symbolic space is out of their reach now, even for Obama, who is solid student of symbols.

The best play that the Palestinians can make now would be a purely symbolic one: go only to the UNSC and dare a veto. It is a game that they can win. (What effect that will have on the space of the real is another question but it may be substantial; what happens in the symbolic is more flexible than what can happen in the fixed space of the real. Think Virilio here: speedy politics wins).

There is no European crisis!

In keeping with the political axiom that nothing happens for long without someone making it or letting it happen, what is to be made of Europe today? For years Brussels has frankly been out of touch with the population. Now the EU leaders will use this (quite manageable) crisis to centralize their power further. The question is whether the people of Europe will take their politicians even less seriously than they already do, letting them spin off into orbit. That would be a wise citizenry indeed. Italy is the best example where the antics of the political class are pure theater for the Italian citizenry.

(Increasing power through crises is part of an obsolete trend discussed in political theory which centers on the outrageous work of Carl Schmitt and the state of exception).  

Obama's first campaign stump speech

The American Jobs Act proposed by Obama will not happen. It is DOA because the US House will never play along nor will McConnell unless it gets so watered down with Republican amendments as to be unrecognizable.

Obama knows this. Too wily not to. He has delivered a speech that has just enough meat in it for progressives and with enough pragmatics for independents. Welcome everyone to Campaign 2012.