James Fallows notes that we are at an historic pass:
In the short term, a worldwide financial panic and crisis. Just beyond that, the real economic and social problems that come when large numbers of people lose their jobs, their businesses, their investments, their homes, and even larger numbers become fearful about what might happen to them. And then, when we get a minute to think, profound global energy and environmental challenges, security concerns that range from loose nukes to terrorist organizations, plus a couple of ongoing wars and ever-rising medical costs. Just as starters. The United States is still incredibly rich, powerful, and productive. But the current situation is no joke, for America or the world.
Fallows is critiquing John McCain’s choosing this moment to focus on Barack Obama’s past associations with William Ayers. And I have to say, for someone who sees himself as a man of history, it’s sad and ridiculous for McCain to ignore the world-changing events going on around us all in favor of these threadbare character attacks. It can be seen as a legacy of the Bush/Rove attempts to manipulate perceptions even as reality came crashing down around them. Except that McCain isn’t directly responsible for the banking crisis, his history of backing deregulation notwithstanding. He could have put some of the best minds together and come up with something, instead of just ceding the whole issue – and the election – to Obama. I guess he really isn’t a man of history after all. At least, not for this moment in history.
What this does mean, though, is that if he wins, Obama will have giant challenges ahead of him. And I think there will be an opportunity to recast the sluggish 20st century institutions that have gotten us into such trouble over the past eight years (partly through the mismatch of their capacities to emerging problems such as global finance or climate change, partly through misuse and abuse by the Bush White House). Government institutions need to be nimbler, more pro-active, and more transparent, so they can recognize potential catastrophes before things go downhill, effectively communicate the risks to the public, and act effectively without getting bogged down in special interest hell. Not easy. But we’re reaching a point where we really have no choice.
