The latest round of investor worries have stirred the normal phrenetic reactions from the experts.  The politicians remain steadfast in their minimalist reactions to economic catastrophes and, as a result, volatility continues to plague the equity and bond markets as the European “crisis” evolves.  The  domestic economic malaise that threatens to engulf our own future is totally ignored because it has not yet reached crisis proportions.

What I am beginning to find amusing is the special interest wars.  By that I mean the division of opinions on subjects like climate change where the contrary positions of the large energy producers versus the property insurance industry are diametrically opposed.  We have reached a stage where capitalism and politics have become synonymous.  This does not bode well for a long term optimistic view.  If special interests can monopolize public opinion then we will only be successful if those interests happen to be aligned with the common good.  I cannot imagine non competitive social welfare programs being able to go toe to toe with the barons of industry.   You don’t have to carry that logic out too far before you start to realize that “Brave New World” is closer than we think.