As President Obama struggles, again, to gain control of the economic conversation and relaunch his administration’s economic policy (how many times has this administration announced its determination to focus on job creation?) the similarities between these two idealistic and patriotic men begin to emerge. In both cases we have a President who thought that his mission was to remake the world, but who gradually discovered that the tools in his toolkit were no match for the problems he faced. With great intelligence and serious goodwill, both men set about to address the most important issues facing the country and the world — only to find that their chosen remedies failed one by one.
I am not convinced that the President’s political goose is cooked — yet. For one thing, luck can never be discounted. Recessions don’t last forever, anymore than booms do, and American capitalism is strong enough to stage a recovery in the face of poor policy. But luck aside, the President can still avoid the great mistake that finally wrecked Hoover: the failure to learn.
President Hoover brought some convictions with him to office about how the economy worked, how government worked, and what his role as President should be. As the Depression deepened, he did the best he could within those limits, but nothing seems to have made him reconsider the mix of progressive ideas that he brought with him to the White House. As months of failure and disappointment grew into years, he doesn’t seem to have questioned those core ideas or to think about ways in which the economic emergency might require steps that in normal times would not be taken. He not only failed to end the Depression; he failed to give people a sense that he understood what was happening. Over-optimistic forecasts issued in part to build confidence came back to haunt him. To the public he seemed fuddled and doctrinaire, endlessly recycling stale platitudes in the face of radically new economic problems.
One of the myths of the rewritten history by the left is that Hoover was a conservative, with laissez-faire economic policies (and thus by implication a hero of modern Republicans, particularly Reagan Republicans), but he was an economically ignorant progressive of his time, albeit a good engineer and a good man. The comparison seems quite apt to me (except I’m sure that Hoover was nowhere near as arrogant, narcissistic and self absorbed as the president).
Is extreme bank regulation a key to the lousy economy? The fact that there’s a ton of uncertainty about Frank-Dodd doesn’t help, either. And of course, Sarbanes-Oxley has been a disaster for start ups.
The topic of space actually came up in the Republican debate this evening. Jeff Foust has the story. It just demonstrates how unimportant the subject is, that no one on the panel other than Newt really knew anything about it. And what little they do know is undoubtedly wrong, given the abysmal media coverage of the topic for the last year and a half (if not forever).
…according to Bjørn Lomborg, a voice of sanity against the Malthusian humanity-hating watermelons. I’m a little surprised, actually, to see such a politically incorrect piece in Newsweak.
It is wise to navigate through the news and elite wisdom through two landmarks: anything that Barack Obama says will be airbrushed, improved, or modified to fit facts post facto; anything Sarah Palin says or does will be contextualized in Neanderthal terms. Teams of Post and Times volunteers now sort through Sarah Palin’s email; not a reporter in the world is curious about what Barack Obama once said about Rashid Khalidi or the Columbia University GPA that won him entrance to Harvard Law School. Accept that asymmetry and almost everything not only makes sense about these two cultural guideposts, but can, by extension, explain the 1860-like division in American itself.
Go to Europe and see the left-wing desired future for America: dense urban apartment living by design rather than by necessity; one smart car; no backyard or third bedroom; dependence on mass transit; political graffiti everywhere demanding more union benefits or social entitlements; entourages of horn-blaring, police-escorted technocrats racing through the streets on the hour; gated inherited homes of an aristocratic technocracy on the Mediterranean coast, Rhine, Danube, etc., exempt from much socialist and environmental law; $10 a gallon gas; sky-high power bills; racial segregation coupled with elite praise of illegal immigration and diversity; and unexamined groupthink on green issues, entitlements, and the culpability of the U.S. Drink it all in and you have the liberal agenda for an America to be.
I think it’s time for Michigan Republicans to look for a new primary candidate to replace Fred Upton. Don’t let him play Lucy pulls away the football any more.
Thoughts on the useful idiots in the media and (more importantly and unfortunately) in the voting booths who really believed that electing a socialist law professor with zero business experience would actually result in an improved economy. He needs to get the return key repaired on his keyboard, though.
The Department of Education issues search warrants? Who knew? The Brokest Nation in History is the only country in the developed world whose education secretary has his own Delta Force. And, in a land with over a trillion dollars in college debt, I’ll bet it’s got no plans to downsize.
Nor has the TSA. A 24-year-old woman has been awarded compensation of $2,350 after TSA agents exposed her breasts to all and sundry at the Corpus Christi Airport security line and provided Weineresque play-by-play commentary. “We regret that the passenger had an unpleasant experience,” said a TSA spokesgroper, also very Weinerly. But hey, those are a couple of cute bumps on the road, lady!
The American Dream, 2011: You pay four bucks a gallon to commute between your McJob and your underwater housing to prop up a spendaholic, grabafeelic, paramilitarized bureaucracy-without-end bankrupting your future at the rate of a fifth of a billion dollars every hour.
In a sane world, Americans would be outraged at the government waste that confronts them everywhere you turn: The abolition of the federal Education Department and the TSA is the very least they should be demanding. Instead, our elites worry about sea levels.