This is not a political blog. That’s not to say that I don’t have opinions on politics, but I try to keep them off my blog for the most part. But, as Bloomberg notes, why aren’t any of the major candidates talking about the credit crisis? There’s a simple answer: no one has a solution to an intractable problem, and so they say nothing.
Part of this is the Faustian bargain that politicians of both parties have regarding the economy. They like to provide the illusion that their policies produce prosperity, and take credit for it, while being quiet when the economy is poor, unless they can blame it on the other party.
Personally, if I were Obama or McCain, I would be concerned about what I would do about the problem if I were elected. Wait, I would tell people there’s not a lot that can be done aside from increasing immigration on a controlled basis. But that doesn’t get votes in the US, because we are biased toward action, even if it is useless or harmful.