I think we need to listen VERY CAREFULLY to what Bush has to say tonight.

[Pale Blue Dot]

So here's what's happened today:

1. McCain announces that he wants to postpone the debate and suspend his campaign to focus on the economic crisis:

Republican John McCain said Wednesday he is directing his staff to work with Democrat Barack Obama's campaign and the presidential debate commission to delay Friday's debate because of the economic crisis.

In a statement, McCain said he will stop campaigning after addressing former President Clinton's Global Initiative session on Thursday and return to Washington to focus on the nation's financial problems.
http://www.msnbc.msn.com/id/26872907

2. McCain's running mate releases a statement saying that a Great Depression is possible:

NEW YORK (AP) — Republican vice presidential nominee Sarah Palin says the United States could be headed for another Great Depression if Congress doesn't act on the financial crisis.

Palin's comments came in an interview Wednesday with "CBS Evening News" anchor Katie Couric.

Asked whether there's a risk of another Great Depression if Congress doesn't approve a $700 billion bailout package, Palin said: "Unfortunately, that is the road that America may find itself on."
http://ap.google.com/article/ALeqM5h21ZbzgPbTVRftcJPT5vkHkonY5QD93D7TBO0

3. Bush announces that he's making an address to the nation about the economy:

WASHINGTON - The White House bowed on a crucial change in the $700 billion financial bailout plan Wednesday, and President Bush readied a prime-time speech to the nation as the administration scrambled to pull loudly resistant lawmakers onboard and stave off a deepening economic crisis.

Republican officials said Treasury Secretary Henry Paulson had agreed to demands from critics in both parties to limit the pay packages of executives whose companies would benefit from the proposed bailout. That has been an emotional sticking point in the struggle to win congressional approval of the historic rescue of the financial industry, though the “golden parachute” money involved would be relatively insignificant compared with the huge sums being talked about.

Bush, who says the massive government intervention is needed to stave off economic catastrophe, planned to talk to the American people Wednesday night about how the crisis affects them, said White House press secretary Dana Perino.
http://www.msnbc.msn.com/id/26871338/

In Naomi Klein's The Shock Doctrine, she speculates that Bush could, based on powers Congress has given him, invoke martial law in response to a severe economic crisis. She bases this speculation on what has happened in other countries that have seen their economies collapse thanks to the neoliberal economic policies of Milton Friedman. I've seen some portray this as a tin-foil hat scenario; but while I think it's unlikely, Klein's scenario is based on evidence (I can't recommend the book strongly enough, BTW.)

So for the first time in my life, I am going to listen very closely to a George Bush speech. I'm going to parse his words and listen for signals. It scares me just a little that the major Republicans all seem to be on message today that the economy is on the verge of failure. I'm going to be listening for signs that my fears are either unfounded, or possibly justified.

[whistle]

1. You listem please, then fill us who are working late with a 12 word summary

[Mme. Defarge]

2. So McCain suggests suspending the campaigns ...

is this a forerunner to suspending the election?

[MadrasT]

3. I've been expecting this all week.

I hope I'm wrong.

[Jeanette in FL]

7. That was my first thought when I heard that he was suspending campaign

Why suspend your campaign?

[Taverner]

4. Did he in fact use the wording "suspend his campaign"

Or "suspend campaigning"?

[MadrasT]

11. "Suspend campaign"

"Tomorrow morning, I'll suspend my campaign and return to Washington..."

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/24/AR2008092402250.html

[Taverner]

13. Yikes

Wording is everything...

And keep in mind the military has been redeployed here to deal with "possible civil unrest"

[annabanana]

5. re #2 above... I saw a clip of the Couric "interview"

when she was using the "depression" word..

When we "came back" to whoever was hosting the segment she said "well, the word we've been using is 'recession', but..." and went back to whatever point she was making.

and looked very uncomfortable..

[htuttle]

6. Too soon -- wouldn't take hold effectively right now

I'm sure that if a person worked in the world of finance that they might be scared enough to swallow something like that now, but to most of us? Feh.

Sure, we're broke, but we've been broke for awhile. I don't feel that much broker this month than last. I don't see any life-condition-changing events in front of my eyes yet. I don't think people would stand for it at the moment.

Of course, Bush has made a career out of miscalculating, so maybe he'll jump the gun on this one...


:shrug:

[dkofos]

8. I can't aford to buy a new TV, and I know he will piss me off to the point

of throwing something (like an empty beer bottle) and ruining the set.
So I will not be watching.

[ColbertWatcher]

9. Should we play bingo?

http://www.wikiality.com/Bingo

[Blarch]

10. "(I can't recommend the book strongly enough, BTW.)"

Not even. This book is beyond 'must read.'

It's just stunning. I feel as though I can see into the future after reading that book.

[anigbrowl]

14. well, it has some flaws. Don't confuse persuasive writing with solid reasoning.

I don't want to derail the thread by turning it into a discussion on Naomi Klein. And I think her book is important and valuable. But I also think she's prone to some flights of fancy and self-deception from time to time.

Let me put it this way: the idea that change follows catastrophe is pretty obvious, and is not a capitalist invention. If were taking part in a debate with Ms Klein and was asked to present the opposing side, I'd probably reach for a historical example like the Black Death or something and show how it could be interpreted as an example of her shock doctrine...thereby invalidating it, since the Black Death preceded both capitalism and the germ theory.

It's a good intellectual tool, but don't make the mistake of treating a perspective on capitalism as a complete description. After all, the wide availability of the internet has had a lot of help from capitalism along the way, and has been extremely disruptive economically speaking, but mostly in a beneficial way.

[anigbrowl]

12. A little tinfoil hat, but you make some good points

I think the same applies to Naomi Klein (but please note that I had a copy of No Logo when it was still in hardback). My main problem with Naomi Klein is that she often talks as if capitalism was something only thought of in the last few decades and...well you get the basic idea. I think she undermines her case by overstating it, resulting in a boy-who-cried-wolf situation.

So I wouldn't stock up on tinned food yet. But given Bush's history and the parlous state of the union, I agree that it's worth paying close attention to what he has to say this evening for clues about what he is up to. At the very least, it's going to be a mind-control broadcast for the Bushbots, so forewarned is forearmed.