Anyone who reads my blog or gets my emails knows how I think this man is one of the smartest and most aware men in our universe. And this is why.
Occupy Wall Street?
I’ve been following the Wall Street protests, in New York and elsewhere. I read as well as written liberal commentary, and the Democratic party’s sorta interest in turning the anger of a few into a leftwing Tea-Party-like movement of many.
Against that background, I’ve also been counting up both Barack Obama’s excuses (ATM machines are to blame, so are the tsunami, the EU, George W. Bush, the nine-month-old Republican House, the Arab Spring, the DC earthquake, and rising oil prices). He’s also growing his target list of various insults (everyone and everything from Clarence Thomas, Nancy Reagan and the Special Olympics to fat-cat bankers, corporate jet-owners, millionaires and billionaires, and “the teabag, anti-government people.”).
Out of all that chaos, I think there are two constants that explain the Obama frustration and the current outpouring of invective at Wall Street, “them”, the affluent, and our capitalist system in general.
So Sorry—It Doesn’t Work
On a wider political level, there is a growing realization that today’s brand of liberalism is really a form of slow societal suicide. We see red states recovering from recession; blue states are still broke. Greece is a mess; so is the entire anti-democratic, statist, and redistributive EU. Keynesian economics is about as dead as global warming/climate change/climate chaos in the age of Climategate, Al Gore, Inc., and a planet cooling over the last decade.
The old idea of open borders is also over. The notion is discredited that teaching new arrivals multiculturalism and ethnic chauvinism, providing them massive subsidies, and ignoring federal statutes were both more humane and more efficacious than the old melting pot of our youth. Solyndra was the epitaph of the lie of “millions of green jobs.” Obama will never utter that now bankrupt phrase again. “Green” means millions of dollars in printed federal money for each job produced, but even far more millions to crony capitalists who hid their malfeasance with hope and change sloganeering.
The End of the Dream
In sum, there is panic. Obamacare, near-zero interest rates, more environmental and fiscal regulations, government take-overs, bailouts, and stimulus, nearly $5 trillion in debt, $1.6 trillion in annual deficits, vast increases in food stamps and unemployment insurance, and hectoring the private sector—all that and more did not restore prosperity. More likely we ruined a natural recovery—if 9.1% unemployment, anemic GDP growth, ruinous debt, precipitous declines in the standard of living, and the return of the old record misery index are any indication. All Obama in 2012 is left with is the old trifecta of ‘Bush did it’, ‘they’ will cut your Social Security, and a subtle racism fuels all opposition.
There is a deer-in-the-headlights paralysis in all those who believed that you could get a government subsidized $100,000 loan, receive easy A’s in environmental studies or sociology, buy a prestigious BA certificate and then enter the lucrative world of the government bureaucracy—teaching, administering, suing, and regulating.
Not Enough Smelts or Pipelines to Go Around
But it did not work that way (there is not room enough for all of us to champion the delta smelt, find insidious racism in the Detroit schools, shut down an oil pipeline, or sue Arizona). Instead, we are left with an energy-poor country sitting on energy riches, a moribund economy with millions in the private sector piling up cash rather than investing or hiring, and cohorts of young, flat-broke, indebted, and politically prepped but poorly schooled students wondering where is the good life and why does a Wall Street fixer, or computer nerd, or company man civil engineer make so much more than they, the anointed, do?
So they rage on—and on and on…
There is much more at the site, read it all. I’ve left out a lot of the wisdom between the ellipsis.