Commenting on this post, a reader asks:
What does this do to Gordon Brown’s political future? He sure looks like a world leader as the rest of the world falls in behind his bailout plan. Neither McCain nor Obama seem to have a clue what to do for the financial crisis, so I’m wondering if I should write in Brown’s name for President in here in the U.S. Your opinion?
This is a good question, not least because it permits one to escape from economics. My answer hunch, I guess, is that this will improve Gordon’s position in the short-term but that he is still extremely vulnerable in the long-term. Yes, he’s showing action right now. Yes, there are plenty of people who will like this renewed stamp of leadership. And yes, some voters will believe – or believe right now – that this is a “global problem” sent our way by the Americans and that, consequently, none of it is Brown’s fault or responsibility.
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