Posted by: Ian Bruk | October 3, 2008

Economic Pearl Harbour

I heard that Warren Buffet is calling this an economic Pearl Harbour.

Someone pointed out that a lot of big iron went down – the banks – Lehman, Wachovia, WaMu etc.

I thought that he was referring to how quickly America decided to go to war following the event. And I think he was trying to give some hope to the American public – the guy is pretty “Apple Pie”.

Anyway I don’t give him much of a chance – he’s in his twilight years and as Felix Stalder explains:

the discourse of the public sphere, particularly around politics, seems increasingly artificial and insincere. This is partly because of the corrosive effects of television–driven media politics, partly it is also because politicians need to make difficult compromises to gain majorities and offer overall solutions that cannot accommodate the high degree of particularity of the “mix–and–match” lives of many individuals [30]. Politics, and the public sphere around it, appears as the domain of cynics. This only deepens the crisis of the public sphere, which has been analyzed for the last 40 years in terms of the commercial capture of the media and the manipulation of discourse through professional PR

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