EJ's latest here in the Washington Post is a classic of inanity. Here's a line I loved:
"But the success of the conservative narrative ought to trouble liberals and the Obama administration. The president has had to "own" the economic catastrophe much earlier than he should have. Most Americans understand that the mess we are in started before Obama got to the White House. Yet many, especially political independents, are upset that the government has had to spend so much and that things have not turned around as fast as they had hoped. "
Earlier than he should have? Just when should that have been, EJ? Someone PLEASE let me know when Barack Obama begins to be in charge. When does he own the economy? As for things not turning around as fast--could it be that the $800B stimulus bill was simply a bad bill that stimulated very little? Could there be ANY connection between disillusion with Obama and bad policy?
Is there even a possibility, E.J., that disillusion with Obama might have something to do with his decision to mess with 1/6 of the economy in a way that has left the middle class, the elderly, the young and small business owners wondering how badly they are going to fare?
No, of course not. This is all just ideology at work.
We've passed one of the markers, one year in office. Things are terrible and the blame Bush line is getting very old. Against all odds (and contrary to my previous statements) the Mass election might not go their way. The mid-terms are looking very very scary. I expect their rhetoric to become increasingly hostile and paranoid. That's the thing about leftists, they cannot believe the great unwashed aren't bowing at their feet with gratitude and humility at the extraordinary efforts made on their behalf. They live in a fantasy world and are genuinely shocked when others don't share their view.
ReplyDeleteCan you imagine if changes of command in the military worked this way?
ReplyDeleteAt the Article 32 hearing after running aground:
"My ship was pointed at shoal water under the previous Commanding Officer. A year later, due to the course I inherited, despite numerous speeches I've given and policies I've written to protect shoals, our course alteration has been slower than we wanted because the extent of the prior Commanding Officer's course was far more dangerous than anyone could have estimated a year ago. But, if I can have more time and more fuel, Sailors and money, I am confident that, together, we can fix this ship and put it back to sea on a good course and, once and for all, undo the unfortunate choices my predecessor made."
Another passage of note:
ReplyDelete"It's also striking that most conservatives, through a method that might be called the audacity of audacity, have acted as if absolutely nothing went wrong with their economic theories."
Essentially, nothing did go wrong with 'their' economic theory. For instance, why did subprime mortgages increase from 327,644 in 1997 to 783,921 in 2000? The answer, in short, is that the Community Reinvestment Act was perversed by Democrats in power in the mid nineties to a point that ultimately bankrupted the communities it was intended to help. This, and other anti-free market reforms (ex. minimum wage is above $7 now), in conjunction with big government policies of the Bush Era turned the market on its head.
How much longer will the talking heads get away with the idiotic quip; "Look at where Captialism has gotten us"?
Look at where the New Deal (pronounced: socialism lite) got us. It extended the Great Depression another 4 to 8 years!
Interestingly enough, this is the same tone Professor Krugman takes today...
ReplyDelete"Mr. Obama didn’t do what Ronald Reagan, who also faced a poor economy early in his administration, did — namely, shelter himself from criticism with a narrative that placed the blame on previous administrations."
Honest. I'm not making that up.
If Krugman didn't have his head so far up his own ass, I'd swear it was up Obama's.
ReplyDeleteAfter the '80 election I don't think I ever heard RR mention Jimmy Carter.
ReplyDeleteRecession of '82 in RR's second year, called the worst since the Great Depression: you never heard that blamed on Carter? I sure did, even though it occurred after a full year of supply side economics and after econ stimulus policies were in place.
ReplyDeleteBeirut, 83: US Embassy bombing and several months later, Marine HQ building bombing - 243 US marines dead. RR blamed long-ago Carter policy for anti-terrorism lapses.
So damn good to see you back, GHP!!!! Nothing like a little fear to get the old blood running, what?
ReplyDelete