…is an abject, miserable failure.
Category Archives: Economics
Ruh Roh
GM may yet have to go through a real bankruptcy:
Well, what do you know, the Obama Administration didn’t reveal all the details to the judge. Is anyone surprised that this gang of Chicago thugs decided that the judge didn’t need to know the sweetheart deal that would save their union buddies?
It sounds like Judge Gerber is ready to reopen the whole thing, essentially forcing GM into a real bankruptcy, including having to pay back the $27 billion to the Treasury… which, given that they only have about $30 billion on hand, could spell the end of GM.
Or at least the end of the sweetheart deal.
Because They’re Not Stupid
Voters think that Obama wants tax hikes to increase spending, not decrease the deficit. Ya think?
The Neo-Puritans
For the half hearted worldling like myself, who can never quite summon up all the moral fiber necessary for a grimly earnest New England crusade, all forms of Puritanism are suspect. But unlike the “Christianists under the bed” crowd over at the Daily Dish, I’m less worried about the puritanism of the right than the puritanism of the left these days. First, because American society is so firmly set against old fashioned right-wing prudishness, Romney’s “conservative” puritanism is probably a lesser threat to the freedoms of the people than the secular puritanism of the enlightened left. Public acceptance of homosexuality is likely to increase, for example, no matter who takes office next January; even after eight grim years of two Romney terms, you are still going to be able to see bare breasted women on “Boardwalk Empire” and “Game of Thrones.” Romney and the right are fighting the tide on many of these issues, so any efforts on their part to force more moral conformity on the population are unlikely to go all that far.
The other reason I worry less about the right’s tendency toward moralist dictatorship is federalism: the left likes its regulation at the national level and thinks the Federal government should set the tone for the whole country. The right on the other hand makes more room for the states. If we must be governed by meddling nanny state puritans, I would rather live in a country that had fifty petty moralistic dictatorships rather than one big one; I’d at least have a chance of finding a place where my favorite foods and amusements wouldn’t be banned by law. Surely there will be one state somewhere in this republic that will let me put some extra salt on my freedom fries.
Professor Mead doesn’t expand on the theme of this as being one of the folkways described in Fischer’s Albion’s Seed, but ever since reading that book it has always been clear that the “progressives” are the current incarnation of the Puritan tradition that came over from East Anglia in the seventeenth century. It was very clear that Hillary fell into that camp (whereas Bill was a redneck). But I had never thought before of the Mormons as being an offshoot of it. It makes sense. They’re not descended from Quakers, or the Cavaliers, and certainly not the Scots-Irish. So there are some similarities between Obama and Romney, but for the reasons that he mentions in the quote above, I’m much less concerned about Romney in that regard.
This discussion reminds me of my post from years ago about why we should worry much more about Leftist urges to control us than that of the social-issues right. Will Wilkinson disputed it at the time (though the specific example he used of Ashcroft’s fear of a marble tit turned out to be a Democrat urban myth). I wonder what he thinks now, given the economic disaster confronting us from the Democrat depradations of the last six years?
A Devastating Ad
This should run in every state in which Romney has a chance to win, or there’s a tight Senate race (i.e., most of them).
In terms of emotional power, it’s the modern-day equivalent of the LBJ daisy ad, except it’s not odious.
The Heinlein Quote, Visualized
Here’s the quote, for those unfamiliar: “Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty. This is known as “bad luck.”
Oh, and just to remind that not only do tax-rate cuts not cause financial crises and recessions, but the wars didn’t cause the deficit or debt increase.
It’s a shame that Kelly Ayotte didn’t have that chart handy yesterday when Governor O’Malley spewed his stupid ignorance. Or lie. Or whatever it was.
Tax Rate Cuts Caused The Financial Crisis
No, Mr. President.
I’m glad that finally someone in the MSM is calling him on this economically ignorant demagoguery. But I think it deserves the full whopper.
Wake Up America
I was at the rally at the federal building in Westwood today, where Bill Whittle gave a stemwinder of a rant against the administration, Democrats and collectivists in general. It will probably be up on Youtube tomorrow. Dennis Prager gave a very thoughtful address as well.
Economic Ignoramus?
…or liar?
Governor O’Malley on Fox News Sunday, in an attempt to defend the president, said that it “was not true” that he hadn’t cut the deficit in half as he promised. How? By confusing the deficit with the debt. He said that when the president came into office it was ten trillion, and it had only gone up six trillion since then, which was about “half.” Or something like that. It wasn’t clear what his point was, but it was clear that he either doesn’t know what the word deficit means, and the difference between it and the debt, or he thinks we’re stupid. Unfortunately, Senator Ayotte, while sticking to her guns, didn’t point out his ignorance in real time, nor did Chris Wallace.
Of course, being an economic ignoramus and a liar are not mutually exclusive by any means. Many Democrats seem to be both.
A Devastating Metaphor
Hey, Barack, “business has been terrible since you got here.”
It will be better with a replacement of the empty suit, and chair.