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Posts Tagged “Madoff”

A completely subjective list, of course. But what the hell… aren’t they all?

Going in to 2008, one could hardly open a magazine or flip a channel without hitting a media comparison to 1968. It was 40 years ago (a nice, round number), and it was a paradigm-shifting political year that looked familiar, with an open competition for the presidential nomination in both parties, all while a war was on overseas.

As it turned out, 2008 was a momentous year in its own right, arguably the most significant year in decades, and without question one we will all remember vividly. But it was not assassinations and riots that made its mark in the history books, unlike in 1968; it brought distinctive events all its own.

There’s not really a lot of room for debate over the two most significant news events of the year, and the annual AP survey of news editors corresponds with what almost all of us would surely conclude on our own, a point-counterpoint of encouraging and discouraging developments:

1) The presidential election of Barack Obama

I’ve already written quite a bit about this one, of course… but suffice it to say that it’s historic for the fact that he’ll be the first African-American president; it’s historic for the fact that he won with a (generally) upbeat, honorable, serious campaign; and it’s historic in that it marks a realignment back toward progressive politics after a generation of destructive radical conservatism, and after eight years of arguably the single worst president in American history. How Obama really performs in office of course remains to be seen, but what he’s accomplished so far this year stands on its own.

2) The worst economic meltdown in our lifetimes

Written more than a little about this, too, of course. It seems almost quaint now to recall that when I started this blog, back in mid-September—although we now know that we were already nine months into a recession—it was still possible to ask “how bad is the economy?” and wonder if it would still get worse. Within days, everything started to go to hell in a handbasket… in a way that seems to have created a destructive feedback loop, where every new development just exacerbates what came before. Homes foreclosing, jobs disappearing, businesses (and entire industries) collapsing, credit freezing, investments evaporating… we’ll remember this for a long time, no matter how much we might prefer to forget it.

After that, the choices grow more arguable. My assessment:

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