McCain and Kennedy are very old men to be emblematic of the world circa 2008 and their careers since 1981 could not be more ironic.
1981 was a banner year for reasons the “body politic” of today is entirely blind. No one today even remembers or knows how deeply America was mired in the quicksand’s of urban unemployment all throughout the rural to urban migrations that ran in earnest from the 1920s through the mid-1960s.
That is what makes 1981 a banner year. There was 16-year lag between 1981 and the mid-1960s but the end of 1981 finally adjusted things. It was a dividing line between societies in which jobs became chronically plentiful and one where jobs were chronically scarce.
But today this fact is entirely ignored. Lightweights such as McCain and Kennedy (and the Bushes) never could have persisted in their prominence were it not for a prosperity that they bear no responsibility for. Their reign is only fortuitous. They themselves are completely ignorant of what lightweights they really are.
Oddly, I don’t think the Clinton’s are ignorant of it. Maybe it is their Arkansas background.
But I think that the whole thing is changing again. 2008 will be a banner year like 1981. It is not that I think that we are headed back into the quicksands of high unemployment. It is almost more onerous.
State and local governments have nowhere to go for their financing except to higher taxes. They have played the booms for all they are worth, and now this is over. State and local governments are no different than private corporations. Their bond capacity is limited, unlike the Feds.
But all of America cannot sustain NYC or Nassau County tax levels. The white populations will rebel and this has already started. At heart, this is racial conflict because state and local taxes heavily grab white savings to redistribute to nonwhite populations in devious ways.
The state and local police and judges are not up to suppressing this rebellion. Without Federal backup, they will chicken out, if it starts in earnest. I predict Federal backup will not be forthcoming. This is not the 1960s.
Both Kennedy and McCain are in their dotage. They don’t have a clue, and they certainly are not up to navigating this. This is way too “South American” for them.