The Bear Has the Bull By the Horns

The nearly 40 percent deflationary trend compares to the percentage decline of other bear markets, so the argument goes to offer some consolation.

Much more pernicious is that this decline in valuation represents a fundamental insufficiency, if not instability, of the practical model in operation.

The banking system, the means for funding economic activity is very clearly not doing it. It is not because some inexorable force has determined our fate. It is because it has been deliberately organized to produce a result that, if left in status quo, produces a progressive deprivation.

It is not a matter of casual misgivings over the unavoidable foibles of human nature, but the deliberate structuring of a system of finance that causes hardship for most Americans that just gets worse if not dealt with at the fundamental level.

This is not just a crisis of confidence. We can feel confident, and be summarily disappointed. Americans are looking for more than the mere trappings of instilling confidence. We are looking for fundamental solutions to real problems at the organized fundament of power.

It is a classic tension between the two fundamental organizational models: elitism and pluralism. The models are not necessarily exclusive. They can be combined in various measures, and have been, but to produce largely elitist results with what are argued to be pluralistic processes to legitimize the outcome.

When the arguments are not verified by the evidence, it is time to throw the model out and reorganize toward the desired result. Of course, that is what neo-conservatives are trying to prevent, but you can't verify the productive virtue of consolidated capital with clear and present deprivations. Who is being more unsophisticated here, the elite or the masses?

The bear has the bull by the horns, but we don't have to be locked in conflict. It is possible to reconcile the differences without it being a false legitimacy of pluralistic process and cyclical trends.

Application of the pluralistic model is not only possible, it is looking evermore probable.

Obama/Biden!