Economy

Illustrious Damnation: I think I might have let us get off to more navel gazing than I intended last week, so now I’d like to talk about something a bit more concrete. I’d like to talk about the economy.

Superman: Ugh. You sure you don’t want to talk to Bruce?

ID: I know it’s not your usual forte, but it’s in crisis, and crises are your business. So from your unique perspective, what do you see? You don’t necessarily have to have a magic bullet, but what can you add to that conversation?

S: Mostly I don’t understand the economy. It’s like magic. Some people know how to make money from it, but personally- and I feel kind of silly about this, but Lois looks after my 401(k)- I couldn’t even tell you what’s in it, let alone how well- or likely poorly- it’s doing. The economy’s something I usually leave in the hands of people who know better than me. But rather than force you to ask prying follow-ups, let’s see if I can’t compare it to something I have put a bit more thought into.

I think you’re right. The economy is in crisis. I think there’s something to the people who say it’s mostly a crisis of faith, because the economy today is largely as healthy (or arguably as weak) as when stocks were high. But that’s a symptom, and one diagnosed through arm-chair psychology at that, so let’s see if we can’t get a little closer… hmm. Honestly, I see a parallel with Darfur.

ID: That’s got to be a first.

S: Not really, I don’t think. And maybe it’s just that I spend an inordinate amount of my time reading the paper, reading lots of papers, actually, at superspeeds, but I think the comparison is completely reasonable. I’m sure you’re aware that the ICC has charged Omar al Bashir with crimes against humanity. He’s basically an international fugitive at this point.

Well, there’s been a debate raging since the head prosecutor, Moreno-Ocampo, looked like he would file charges, about whether or not it was better for the conflict in Darfur for charges to be filed or not. The debate focused on whether or not the fledgling ceasefire would be destroyed by an attempt to arrest the sitting president. People who thought it would said the country needed “Peace before justice.”

While I’m not sure I’m convinced as it applies to the situation in Sudan, I think that refrain sort of works with the economy. Lots and lots of shady dealings have occurred. We should definitely look into how these things happened, and who’s responsible, but at the same time, our focus needs to be on fixing the problems that are crippling our economy, not pointing fingers.

And I don’t say that with any relish. Lex Luthor, and the deregulation he started and George Bush continued, are at the heart of a lot of these problems, and the overall atmosphere he fostered- all of it was toxic for the long-term economic health of this country. But for the moment we need to set that anger and frustration aside. Because right now there are millions of Americans left unemployed; we need answers and solutions now.

ID: You mentioned Bruce, and I know he’s emerged, from the crisis, as someone to watch. He used to make all of his deals in private, try to keep his secrets to himself, but since people started using the “R” word in public, he’s started doing his trading in public, too. I’ve heard that people have been crunching numbers recently, and they think he’s overtaken Warren Buffet.

S: Bruce actually doesn’t like to talk about his finances; I think I understand, because I don’t like to talk about my abilities, at least not when it comes to a conversation with others. I’m an alien, and I’ve made my peace about that, but I don’t like underscoring the things that make me different- I prefer to talk to people about the things we have in common. But if I had to guess, Bruce is richer than Buffet- I know he’s better at investing.

ID: Well here’s a question, since you’re friends or at least friendly with one of the wealthiest men in the country, why’s he been doing what he’s doing during a downturn?

S: I know Bruce has “lost” billions right now. And I also know Bruce is investing- the more money he loses on paper, the more money he invests. Now is the time, when stocks are on the floor, to buy. Nearly everything worth any money is undervalued, as far as stocks are concerned. Which isn’t to say that anyone should suddenly go on a stock shopping spree- for every diamond in the rough there’s at least one financially unstable company with a bleak, at least for the moment, future. Now is certainly the time to invest, but that doesn’t mean you shouldn’t be doing your homework and really being exceptionally cautious about where you put your money, like always, really.

But I think part of it is strategy, with Bruce, calculated. He knows that people watch him, have always watched him, ever since he managed to double his family’s fortune when he was in his twenties- and that’s just from investing, not counting the profits Wayne Enterprises made. But he knows the only way, really, to fix the current problems, is to inject capital into the system. By investing fearlessly into the market, he’s trying to lead by example, show people that he has faith in the market. He’s even been talking to Secretary Geithner about buying up some of those toxic assets- though like most folks he’s worried about banks trying to overvalue the assets, and the tailspin that could cause.

ID: Judging by this, it seems you talk a lot of shop with the Batman.

S: People assume the Justice League is all about punching the next “bad guy” in the face. Justice means a lot of things; at the end of the day, it’s about trying to keep the parts of the world that work from crumbling into chaos, and helping the parts of the world that don’t become better. That means we pay attention to everything; we discuss politics, economics- even the weather, when we think it’s going to have some impact.

Where possible, we try and make ourselves available, for everything from building shelters with programs like Habitat for Humanity, to clean water programs with the UNDP and disaster relief. I guess we’re victims of our own success in that regard, because we so often try and make those contributions quietly, and not trumpet the League’s humanitarian work, that the big shows of force get all the press.

Horribly Ill, hence the posting delay, so forgive any atrocious errors in the transcript. And we’ll be trying to bring you a new section of the interview every Monday. Some of the questions have already been prepared by the interviewer, but to ask Superman a question, leave a comment or send an email to DeathofSuperman@gmail.com.