Heads In The Sand

A New York Times story discussing the reality of deflation in Japan (as well as its spectre in the States), in speculating that the topic would not come up during the Bush/Koizumi wing-ding at Bush's ranch, argued that, "The specter of a wealth-destroying beast such as deflation is so frightening and the tools for fighting it so limited that both men are likely to feign confidence and talk of things they have more control over, such as their shared commitment to stopping North Korea from accumulating nuclear weapons."

While it would be interesting to hear an argument that the Bush Administration has control over anything, one can't help but wonder what the Administration expects voters to make of a President running so scared that he refuses even to acknowledge basic issues regarding the well-being American workers (who would, after all, be hit hardest by an implosion of the economy)?

Posted by Eddie Tews at May 25, 2003 01:29 PM