This last week has been a watershed in the history of America. One that will continue to shape events for decades to come.
This was the week that the Right reversed itself on the War in Iraq. Right Wing wisdom now dictates that the war is won. While nothing has changed on the ground, the continuing violence and political strife is now to be regarded as domestic and not of "terrorist" origin. Regardless of how elections go in the fall, here or in Iraq, we are now backing out of the conflict. Whether we are leaving according to a liberal timetable or honorably standing down as the Iraqis stand up, is pure semantics. The end result will be the same.
Bush gave up his quest for a positive legacy and is scuttling, crablike and in disgrace, toward the exit of his term. World leaders in the Middle East and Europe scrambled over each other to embrace Barak Obama, whether or not he is elected, as the man they regard to be the symbol of American leadership. This was a knife in George's back, from which he cannot recover.
Bush has been forced to reject his conservative principles and endorse a socialist bailout bill, that will rescue an American banking system robbed into insolvency, by the same greedy, capitalist, corporate nabobs that he counted on to lead the country into a new golden age of laissez faire economic growth. There was a stock market rally this week, not because of any good news or potential for a return to profitability in the business sector but simply because the Bush administration indicated it realized that the economy was in deep trouble and signaled it would begin to address the problem, rather than simply continue to state that everything will soon return to normal. The costs are going to be enormous and the men who are responsible will likely walk away to off shore sanctuary with billions but the costs of addressing the problems now are less than continuing to ignore them.
I do not expect that things will get better any time soon but any time the militant ignorance and stupidity of the fundo fascist Right, suffers a significant defeat, it is a good thing and a victory for the American public.