- Feb 12, 2007
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A guest post from Zerohedge which is a pretty good summation of how Big Government Cronyism is destroying America, and why Obama's support of it will cause him to lose in 2012 (we can only hope).
...This is mindless Keynesian policy on auto-pilot. As I have reported before, the Federal Government is borrowing and spending some $6 trillion in a mere four years, almost doubling the nation's debt, and all that's been accomplished is the Power Elites' share of the national income has risen and GDP has flatlined.
The structural dislocations and imbalances remain firmly in place; a financial sector dependent on fraud has been "saved," and an economy sick with an addiction to rampant financialization has been given plenty of smack to keep it from going through a desperately needed withdrawal.
The Keynesians have no answer as to when the economy will "recover" without the Central State borrowing 11% of GDP every year to prop up its various cartels and fiefdoms. They have no answer because they have no understanding of the imbalances, the fraud, the financialization or of the feudal partnership of the State and crony-capitalist cartels.
Obama has lost his "progressive" base, because he's done nothing remotely progressive. He has lost the middle because his Administration has overseen their gradual impoverishment at the hands of Financial Power Elites. He has offered them phony facsimiles of reform slicked down with the tiresome "soaring rhetoric" of a con artist so besotted with his own story that he actually believes the BS himself.
He can count on the public-union vote and a few of the State fiefdoms he's enriched and enlarged at the expense of the common good, but as the addict (the economy) goes downhill, slowly destroyed by the ever-larger doses of smack administered by the Fed and the Central State, then the consent of the governed will be irrevocably lost--not just by President Obama, but by the entire Status Quo.
The President is now a candidate hoping to scoop up a cool $1 billion to blow on another long, greasy media blitz, but I would be surprised if he rakes in much from the commoners and serfs straining to keep the wheels of their household finances turning. He will of course collect big bucks from various crony-cartels and contractors who have benefited from his bogus "reforms" and unstinting support of the banking sector, but his true-believer supporters will be thinned down to a few Elites, die-hard Democratic hacks and the delusional by mid-2012.
His opponents may fare little better unless they are willing to tackle the dominance of crony cartels, government fiefdoms and Financial Power Elites whose fat fingers remain firmly on the throat of the fast-expiring nation.
Guest Post: Obama Will Lose In 2012 | zero hedge
...This is mindless Keynesian policy on auto-pilot. As I have reported before, the Federal Government is borrowing and spending some $6 trillion in a mere four years, almost doubling the nation's debt, and all that's been accomplished is the Power Elites' share of the national income has risen and GDP has flatlined.
The structural dislocations and imbalances remain firmly in place; a financial sector dependent on fraud has been "saved," and an economy sick with an addiction to rampant financialization has been given plenty of smack to keep it from going through a desperately needed withdrawal.
The Keynesians have no answer as to when the economy will "recover" without the Central State borrowing 11% of GDP every year to prop up its various cartels and fiefdoms. They have no answer because they have no understanding of the imbalances, the fraud, the financialization or of the feudal partnership of the State and crony-capitalist cartels.
Obama has lost his "progressive" base, because he's done nothing remotely progressive. He has lost the middle because his Administration has overseen their gradual impoverishment at the hands of Financial Power Elites. He has offered them phony facsimiles of reform slicked down with the tiresome "soaring rhetoric" of a con artist so besotted with his own story that he actually believes the BS himself.
He can count on the public-union vote and a few of the State fiefdoms he's enriched and enlarged at the expense of the common good, but as the addict (the economy) goes downhill, slowly destroyed by the ever-larger doses of smack administered by the Fed and the Central State, then the consent of the governed will be irrevocably lost--not just by President Obama, but by the entire Status Quo.
The President is now a candidate hoping to scoop up a cool $1 billion to blow on another long, greasy media blitz, but I would be surprised if he rakes in much from the commoners and serfs straining to keep the wheels of their household finances turning. He will of course collect big bucks from various crony-cartels and contractors who have benefited from his bogus "reforms" and unstinting support of the banking sector, but his true-believer supporters will be thinned down to a few Elites, die-hard Democratic hacks and the delusional by mid-2012.
His opponents may fare little better unless they are willing to tackle the dominance of crony cartels, government fiefdoms and Financial Power Elites whose fat fingers remain firmly on the throat of the fast-expiring nation.
Guest Post: Obama Will Lose In 2012 | zero hedge
