Steve Chapman | October 16, 2008
DAVENPORT, IOWA—If the presidential campaign were the lead-up to a World Wrestling Entertainment smackdown, John McCain would be winning. A former high-school wrestler, he's been making the most of the chance to show his withering contempt for the other guy.
At a town hall meeting on Friday in Minnesota, McCain had taken a surprising tack. When a woman in the audience said that Barack Obama "is an Arab" (presumably meaning "Muslim"), McCain said it wasn't so. Responding to a questioner who was "scared" by Obama, McCain assured him, "Sen. Obama is a decent person and a person you don't have to be scared of as president of the United States"—a statement that sparked boos.
Today, McCain is intent on making sure any boos are directed at his opponent. He slams him for voting for pork barrel projects, planning to raise taxes, and "insider dealing."
That's just a warmup for his most contemptuous jibe. "He's even questioned my truthfulness," says McCain, his voice marinated in acid, "and let me reply in the plainest terms I know: I don't need lessons on telling the truth to the American people, and were I ever to need any improvement in that regard, I probably wouldn't seek it from a Chicago politician."
Of course many voters may think there is no important ethical difference between a Chicago politician and a Washington politician, which is what McCain has been for more than a quarter of a century. The accusations of dissembling have come not only from the Obama campaign, but from independent monitors that even McCain invokes when convenient.
And if the GOP campaign is trying to distance itself from those who harbor dark suspicions about Obama's religion, someone didn't get the memo. Before McCain's arrival at today's rally, a local clergyman delivered an invocation that instructed the Almighty on His handling of the coming election.
"There are millions of people around this world praying to their god—whether it's Hindu, Buddha, Allah—that his opponent wins, for a variety of reasons," said Rev. Arnold Conrad. "And Lord, I pray that you would guard your own reputation because they're going to think that their god is bigger than you if that happens."
No one seems to think it's strange or inappropriate to portray the election as a choice between Jehovah and Allah. Maybe the audience is too busy pondering some discomfiting questions: If McCain loses, is it because God wanted him to lose? Or is it because one of those other gods is running the show?
This hostile note is in keeping with the tone struck by the candidate. Several senators, including some in his own party, have complained of his explosive temper, and he has even acknowledged that his hothead reputation has some basis. But today, McCain is advertising it as an asset during a time of economic trouble. He sounds madder than John Edwards on a bad hair day.
"One thing I hear from Americans at every stop is that they're angry," he says. "They're angry. THEY'RE ANGRY." He then lists the things they are angry about, including the failures of Wall Street. "You're angry," he declares, "and I'm angry too." But he sounds more like someone hacked off about trailing in the polls rather than someone infuriated by what he calls "greed, corruption and incompetence."
Part of the problem is that Republicans can't really bring off denunciations of greed. Ordinarily, they treat it, with sound insight, not as a mortal sin but as a powerful natural drive that capitalism harnesses for the benefit of all.
They are more convincing when excoriating governmental failure. This time, that's also a problematic sell, since the failures of the past eight years are generally blamed, fairly or not, on a president who heads McCain's own party.
But the real question McCain's performance raises is this: Assuming Americans are mad, does that mean they are looking for a president who revels in his anger? Right now a lot of people are feeling scared, bewildered, and even lost. But rather than seek a leader who shares those feelings, they probably would like one who can alleviate them.
If voters want a president who is angry, McCain may win. If they prefer a president who will remove the causes of their anger, his exhibition of outrage will encourage them to look elsewhere.
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But rather than seek a leader who shares those feelings, they probably would like one who can alleviate them.
And that would be...?
"But if they prefer a president who will remove the causes of
their anger, his exhibition of outrage will encourage them to look
elsewhere."
Anyone stupid enough to believe that a president can "remove the
causes of their anger" is too stupid to be voting in the first
place.
Gil --
You certainly harbor many interesting opinions about the stupidity
of people not yourself.
The "incredible lightness of being" where we all circle and float off to the cloud of harmonic balance? Yes, remove the causes of anger and submit, dear ones, for THIS is the way.
Remove their causes of anger?
Sorry, I gotta laugh about that too. That's pretty new age and zen
yoga sounding.
Ohm, dude.
I definitely would prefer a President who was angry.
I just want someone angry about different things than McCain is
angry about.
The thing I don't trust about Obama the most is his lack of anger.
As soon as he is inaugurated, when he should be launching himself
immediately into the task of bringing about a reckoning of the many
crimes and deceptions of the Bush administration, I imagine he will
not be angry enough to do so, and will instead hand us some
high-sounding crap about healing and whatnot. That's the day I stop
bashing the GOP and start bashing Obama.
Everyone knows the best way out of an economic crisis is to
raise taxes and restrict free trade. That's why I'm voting for
Barack Obama.
No, really. ACORN has me registered in all 50 states!
Someone seriously need to tranquilize Guy. You know, take away
the causes of his anger, or barring that, his ability to feel any.
His whining is getting on my nerves.
The thing I don't trust about Obama the most is his lack of
anger. As soon as he is inaugurated, when he should be launching
himself immediately into the task of bringing about a reckoning of
the many crimes and deceptions of the Bush administration, I
imagine he will not be angry enough to do so, and will instead hand
us some high-sounding crap about healing and whatnot. That's the
day I stop bashing the GOP and start bashing Obama.
I think you mistake not being easily provoked as not being angry.
Maybe I'm missing my guess, but I'd guess that Obama is every bit
as pissed at Bush/Cheney/McCain/Palin as every other liberal
democrat in the universe. Unlike many others, though, he has a
spooky preternatural ability to conceal his anger and appear
placid.
The American people want a president who can alleviate the causes of their anger and open their chakras to awaken their positive psychospiritual energies. Pretty sure.
Right now a lot of people are feeling scared, bewildered,
and even lost. But rather than seek a leader who shares those
feelings, they probably would like one who can alleviate
them.
Winning strategy: Kick Sarah Palin off the ticket and nominate
Trigg's pacifier!
For all the goofing, I'd be willing to bet that most Americans
want a president who communes daily with the Space Jesus. So let's
not throw stones haphazardly.
And I can say honestly I still don't get "Trig". Did they name the
poor kid after a division of mathematics?
Elemenope,
Lay off Guy. I share his anger at the lack of hot female
welders.
Republicans can only hope that Obama plays to the looney left
and spends his political capital refighting battles from 2003.
Further, if he did and God forbid that there is another major
terrorist attack, the Republican slogan would be "if only Obama had
spent as much time defending the country as he did trying to
payback the Bush Administration, this wouldn't have
happened".
Since I don't think Obama is clinically insane or politically
suicidal, I seriously doubt he will spend one moment trying to
cause a reconing for the Bush administration. Further, if he does
win, he will be responsible for something and the thought of having
another 9-11 pinned on him will clarify his thoughts. He didn't
vote to reauthorize FISA for nothing. Obama will take and use every
power the Bush Administration has and maybe a few more since he
won't have to worry about the media or Congress hassling him about
it.
If you are looking for paybacks to Bush fluffy, you need to go back
on the Thorazine.
Abdul,
Damn you! I read your post and winced at remembering Pascal's
triangle.
Lmnop,
All kidding aside, the Palin's chose "Trig" because it is a
phonetic rendering of the Norse word for "strength."
"Right now a lot of people are feeling scared, bewildered, and
even lost. But rather than seek a leader who shares those feelings,
they probably would like one who can alleviate them."
What a bunch of elitist bullshit that is. Yes people are scared
bewildered, lost, they need big daddy government to come save them.
No one other than a few journalists are scared bewildered or lost.
It is a recession. We have had them before we will have them again.
The best thing any politician could say or do would be to tell dumb
asses in the media who say things like that to shut up.
John,
It's sort of a ritual among statists. They remember with nostaglia
FDR and his fireside chats not his utter incompetence with "fixing"
the economy.
The American people want a president who will pet them when they're fussy and turn the sink on every so often when they get thirsty.
That is true NAGA. One of the worst things about our government is the idea that a leader must do "something" and if he is not it is clearly due to incompetance. People and the media in particular refuse to understand that sometimes there is nothing to be done or that one option is the least bad of the all the options. There must always be a perfect painless sollution to any problem.
Right there with your pulse on the finger of America,
John.
I'm sure military lawyers aren't scared about their jobs.
It's always the media, isn't it? Do you ever do any research about
public opinion before spouting off?
Yes Joe, I have worked for the govenment so I must believe that the government is the sollution to all problems. No one who beleives in limited government can ever accept a government paycheck. Just like no one who is a statist can ever work in the private sector.
Another content free column from Chapman. And this one includes
yet another invocation of the patently false trope that Republicans
are pro capitalism and anti big-government. That twists my colon
every time. But it did contain this gem:
Before McCain's arrival at today's rally, a local clergyman
delivered an invocation that instructed the Almighty on His
handling of the coming election.
Anyone who's ever heard a Military Chaplin deliver an invocation
can relate. Is there any greater hubris than declaring one's self
to be without fault and commanding the almighty to do your
bidding?
All kidding aside, the Palin's chose "Trig" because it is a
phonetic rendering of the Norse word for "strength."
That was the missing piece. Thanks, Abdul.
Lay off Guy. I share his anger at the lack of hot female
welders.
I'll try to be nicer. Ooh, but he's just such a douche! It makes it
so hard. And besides, he blocked me a while ago so it's not like my
poisonous words ever reach his beady little eyes.
Hey, John, some information about public opinion that isn't
pulled from your navel.
http://www.latimes.com/media/acrobat/2008-10/42897536.pdf
But be warned: this polling was conducted by TEH MEDIA.
"Anyone who's ever heard a Military Chaplin deliver an
invocation can relate. Is there any greater hubris than declaring
one's self to be without fault and commanding the almighty to do
your bidding?"
I hate that to. The only thing worse is when people do it for
really unimportant stuff like sports. "I thank God for giving me
this victory." What does that make the other side? The unbelievers?
Just once I would like to hear someone go full monte on it and talk
about how God helped him defeat the heratic Red Sox. The only
person who ever got the subject right was Lincoln in the Second
Inagural Address.
If you will excuse me Joe, I have to go out and earn my government paycheck and see if I can help someone who is scared, bewildered and lost.
John, you dope, didn't I just say I didn't expect satisfaction
from an Obama administration, and was preparing to hate him for
it?
And by the way, once ensconced in the Oval Office there would be no
need to "fight political battles" or anything else to take the
appropriate steps to deal with the Bush administration. Just about
everything that needs doing on that score is well within the
discretionary powers of the President.
1. Announce that the Justice Department will no longer claim
national security exemptions to discovery for lawsuits filed over
events that took place during the Bush administration, except in
exceptional circumstances.
2. Turn over all Executive Branch material that has been the
subject of ignored subpoenas.
3. Respond to all FOIA requests that have been ignored or denied by
the Bush administration.
4. Refer instances of missing or deleted material, like emails, to
the Justice Department for prosecution.
5. Re-open the Abu Ghraib investigation and launch a simultaneous
investigation into the role of American intelligence and military
personnel in abuses at Afghan prisons.
6. Make public all Executive Branch material dealing with the
rendition program.
7. Make public all Executive Branch material dealing with the
Pentagon's military analyst program.
8. Make public all records dealing with possible violations of the
Hatch Act by Karl Rove and his aides.
9. Appoint an Attorney General with a great, big "Appoint Special
Prosecutor" stamp and lots of ink.
This would take me literally an afternoon if I was in his shoes,
and other than Senate approval for my AG pick I wouldn't have to
"fight" anyone to do any of it.
And spare me the "Oh, 2003 is so long ago," crap. If I hadn't filed
a tax return in 2003 the government would still take an interest in
my action. That means they can take an interest in the actions of
the Bush administration, too.
Maybe I'm missing my guess, but I'd guess that Obama is
every bit as pissed at Bush/Cheney/McCain/Palin as every other
liberal democrat in the universe. Unlike many others, though, he
has a spooky preternatural ability to conceal his anger and appear
placid.
I think you have way, way too much faith that Obama will go after a
guy who held the same job as him. Presidents do not like
to set precedents where they can get fucked by the guy who comes
after them.
Bush will get to go become proconsul like every other President.
Count on it. I just wonder which province he will be given to
abuse.
Anyone who's ever heard a Military Chaplin deliver an
invocation can relate. Is there any greater hubris than declaring
one's self to be without fault and commanding the almighty to do
your bidding?
The only greater hubris is then following your instructions to the
Almighty by interpreting *all future events* as if He has listened
and agreed.
I always thought at the very least someone should throw a "please"
somewhere in "God Bless America".
Yes Joe, I have worked for the govenment so I must believe
that the government is the sollution to all problems.
Whiff!
Let me put it more plainly: you have more job security during a bad
economy than most Americans, so your personal feelings aren't going
to be a good measure of public opinion.
Your personal experience is too far removed from regular people for
you to be able to relate to them.
Your personal experience is too far removed from regular
people for you to be able to relate to them.
Yeah I'm talking to you, stranger on the internet!
It's sort of a ritual among statists. They remember with
nostaglia FDR and his fireside chats not his utter incompetence
with "fixing" the economy.
It's much worse than that. I doubt any actually remember the
fireside chats. But the remember The New Deal and his "utter
incompetence with fixing the economy" has been, and continues to
be, enshrined as "Hoover's inaction gave us the Great Depression,
and FDR cleaned up the mess with his massive reorganization of
government that finally took care of the average Joe."
Oh, and I left one really easy thing out:
10. Invite everyone who resigned their commission or position
rather than participate in our activities at Guantanamo to the
White House for a barbecue, and say to them, "Tell me everything.
Oh, and by the way, you guys just became my advisory panel on
intelligence reform. Pick up your name tags on the way out."
Fluffy,
If he did all of that, then he couldn't do any of the stuff Bush
did. That is not going to happen. I don't say that as a slam on
Obama. In fact just the opposite. The guy is not crazy. He will be
just as concerned about there being a terror attack on his watch as
Bush is.
You are wrong about ABu Garib. The abuses happened in Bagram and
various other places around the world. Abu Garib really was a bunch
of morons on the night shift. More importantly, you are dreaming if
you don't think Obama will render people to other states, just like
Clinton and Bush have, or let the CIA do various deeds. The only
difference between the two will be that you won't hear as much
about what Obama does because the media won't have a political axe
to grind about it. If anything it might be a little worse because
there will be less danger of ever being held accountable for it.
What, are the Republicans going to come in 2012 and go after Obama
for doing what they did? I think not.
Guy blocked you? Word? If he did, he's a pussy.
Word. I couldn't believe it either.
I think you have way, way too much faith that Obama will go
after a guy who held the same job as him. Presidents do not like to
set precedents where they can get fucked by the guy who comes after
them.
Oh, I think the only war crimes/accountability moments for any of
these fuckers will occur in no location other than possibly the
movies. And I certainly don't think Obama is in a good position to
rain fiery retribution upon his erstwhile political enemies. That
never goes over well, even when they *do* deserve it.
My point was only that it is silly to think Obama is not deeply
angered by the goings on in the White House the past eight years.
He has just honed his public persona down to this slippery Zen
bastard who could smile his way through a concentration camp, and
that is throwing people a bit.
Actually I think sports is the only appropriate venue to invoke
the name of God or gods for victory. Invoking probably ficticious
dieties is a risky maneuver and should only be done when the
outcome really does not matter.
Applying God and faith into international politics, well, that gets
dicey very quickly.
Warren,
My apologies. They remember he gave fireside chats. Not their
substance. Better?
If you're scared, bewildered, and lost without the help of Big Brother you are a pathetic excuse for a human being. Americans need to start sacking the hell up.
phalkor,
Baal will be displeased by your comments. Make sacrifice to appease
him or face his wrath!
Naga Sadow,
Perhaps I can work near a port, where they keep most of the hot
female welders.
Oh, that "pussy" comment? How about delivering that one in
person.
But if they prefer a president who will remove the causes of
their anger, his exhibition of outrage will encourage them to look
elsewhere.
All joking of how New Agey this sounds aside, it's a good point.
For example, after 9-11, did people want a president that was
scared like them or did they want a president that would go out and
destroy the people that scared them here. Same goes for the current
economic crisis. People don't want a person that's mad like them,
they want someone that can fix. Granted, neither of these two can,
the president is relatively powerless in this case. However, only
one person is carrying themselves like they will. That person is
not Johnny Mac.
Actually I think sports is the only appropriate venue to
invoke the name of God or gods for victory.
"Dear Lord, thank you for giving this game your undivided
attention. We'll try to be brief so you can return your energies to
the movement of the stars and the condemnation of the Jews. Please
hand us an easy victory. I'm not saying that if we lose we'll turn
away. But do you really want to take that risk? And finally, just
as you cured the blind, thank you for curing this team of the
blind. Oh, and, uh, forgive me for that thing I did with the thing.
Amen."
Hogan,
I don't think joe and John can be described as strangers at this
point. They talk to each other more than they do their own
spouses.
Guy,
I stand by my comment . . . on the internet of course. I'm what I
like to call "bullshit" polite in real life. We are all trollish at
times but to block someone is positively pussyish(real word?).
"Oh, that "pussy" comment? How about delivering that one in
person."
It's on!!!!!
My point was only that it is silly to think Obama is not
deeply angered by the goings on in the White House the past eight
years. He has just honed his public persona down to this slippery
Zen bastard who could smile his way through a concentration camp,
and that is throwing people a bit.
Well, I don't really believe that Obama gives a shit about much
more than securing his own career and power. I am skeptical that
politicians actually get worked up over other politicians abusing
their power, seeing as that's why one becomes a politician in the
first place.
Naga,
This is a small matter, but that's no reason not to get all nit
picky. In this age of video I don't thing there's much nostalgia
for the fireside chats. You have a point that they enjoy a better
reputation than they deserve. FDR called them "fireside chats" but
when I actually listened to a couple they sounded more like
Orwellian propaganda.
What is still venerated, and I'd say 99 out of a hundred working
journalists subscribe to, is; The New Deal policies that put the
government in control of all industries, "got America working
again".
The idea that the New Deal extended and deepened the Depression is
something that's only whispered in back alleys and basements.
Oh, that "pussy" comment? How about delivering that one in
person.
Am I the only one who thought this was a come-on?
I agree with you Epi, it is all an act. Further, politicians understand the reality of power. Obama knows good and well that he would have done some of the same things Bush did had he been President. I have been around more than a few politicals in the last year and it is amazing how genial they are to each other in private. It really is all a game in public. That actually is a good thing. The last thing we would want is some angry KOS diarist or his rightwing equivelent in a position of responsibility. Rage is something reserved for people who are not responsible for anything.
My point was only that it is silly to think Obama is not
deeply angered by the goings on in the White House the past eight
years. He has just honed his public persona down to this slippery
Zen bastard who could smile his way through a concentration camp,
and that is throwing people a bit.
I think that maybe a black guy who grew up in Indonesia and Hawaii
learns pretty early how to keep his head while people throw things
at it.
NS,
I am sure you can manage to find where this has been talked about
before. Plenty of people utilize blocking, some just scroll past
the folks they find that rarely contribute anything they want to
bother with.
Gonna have a fit about my not owning any Chompsky or Lennin in my
home too?
Oh, if you are unwilling deliver a "pussy" comment like that in
person then you must be looking in a mirror.
"The idea that the New Deal extended and deepened the Depression
is something that's only whispered in back alleys and
basements."
No just history books that journalists don't read and economics
classes journalists didn't take in college.
Warren,
Hmmmmm . . . acknowledged. I'm pretty sure your knowledge of the
Great Depression is better than mine anyway. I'm good at
summarizing not getting into as you put it "nit picky" details.
Actually I think sports is the only appropriate venue to
invoke the name of God or gods for victory.
I think that shouting "Nike!" at a football game might send an
unintended message.
It's cold in here.
We may die.
But at least its puuuuuuuure.
*points at Guy*
CYBER BULLYING! CYBER BULLYING!
Relax. Take a breather. Have a cigarette.
"Gonna have a fit about my not owning any Chompsky or Lennin in
my home too?"
You talkin' Lenin or Lennon, Guy? Or both?
"No, really. ACORN has me registered in all 50 states!"
Not a problem unless you actually show up in all 50 states to
vote.
I wonder if it counts as lashon hara if the offended
party isn't technically present only because he is busy plugging up
his ears and screaming at the top of his lungs "I CAN'T HEAR
YOU!!!"
Where's a rabbi when you need one?
The idea that the New Deal extended and deepened the
Depression is something that's only whispered in back alleys and
basements.
Not true at all. It's something that's hotly debated. Also, it's
only certain aspect of the New Deal that made things worse. I'm
sure that few here would advocate repealing the FDIC (one of the
best things to come out of the New Deal as far as economic
stability goes). lumping it all together is as mindless as saying
"guns bad."
I have been around more than a few politicals in the last year
and it is amazing how genial they are to each other in private. It
really is all a game in public.
As Reagan said re: Tip O'Neill, "before 6 PM it's all politics,"
they were good friends "after 6 PM." Though I would say they're
probably less amicable than they used to be because they spend less
time in DC socializing, sending their kids to the same schools and
the like. At the end of the day, they're not opponents, but
coworkers trying to solve the same problems. Having them fight is
counterproductive.
Elemenope,
Well it is a thread on "anger" and its role on the candidate.
You talkin' Lenin or Lennon, Guy? Or both?
Either/both. However, I do have a favorite Marx.
Well it is a thread on "anger" and its role on the
candidate.
Then I think we *really* need a rabbi. And probably a Jesuit.
Also, it's only certain aspect of the New Deal that made
things worse.
It's hardly controversial that the price-fixing, central-planning
efforts of the early New Deal were ineffective or
counterproductive. FDR acknowledged that himself, and repealed
them.
Actually, it would be tough to think of a president before or since
who was so willing to repudiate policies he had put in place
himself.
Having them fight is counterproductive.
Unless they are collaborating to do something *really stupid*.
Which, frankly, happens more often than not.
Mo,
The Congressional staffers are the only exception to that. They are
real assholes on both sides. There are staffers that are almost
parodies of themselves.
FDR acknowledged that himself, and the Supreme Court
eviscerated repealed them.
You left out a part.
"I agree with you Epi, it is all an act. Further, politicians
understand the reality of power. Obama knows good and well that he
would have done some of the same things Bush did had he been
President. I have been around more than a few politicals in the
last year and it is amazing how genial they are to each other in
private. It really is all a game in public. That actually is a good
thing. The last thing we would want is some angry KOS diarist or
his rightwing equivelent in a position of responsibility. Rage is
something reserved for people who are not responsible for
anything."
Which is more logical: believing that what a candidate says he or
she is going to do and how he or she says it--or taking an
analytical and interpretive angle in which we hypothesize on what
they might really mean and how they really feel behind closed
doors? If you agree with the latter, please remember not to drink
your bong water.
As far as who any spiritual being supports and why one candidate
will win . . . I sacrificed a few live chickens in front of Joe Boo
months ago, and my evil plot will soon see fruition.
Which is more logical: believing that what a candidate says he
or she is going to do and how he or she says it--or taking an
analytical and interpretive angle in which we hypothesize on what
they might really mean and how they really feel behind closed
doors?:
Look at what they do not just what they say. Obama voted for FISA,
wants to bomb Pakistan, and is nothing if not a politician. Maybe
Obama is nuts and will ignore poltical reality. But I doubt it.
What is still venerated, and I'd say 99 out of a hundred
working journalists subscribe to, is; The New Deal policies that
put the government in control of all industries, "got America
working again".
Not exactly. It's deeper than "getting America working." My
Grandfather encouraged all kinds of dissent; even welcomed my
Objectivist cousin's opinions despite being more or less a
socialist himself. The only exception was FDR. His reasoning was
"when FDR got elected, we got to eat again." He was a hero to the
people who lived through the Depression.
Also, he screwed the country's economy up, but those social welfare
programs and economic controls he put in place did pacify an awful
lot of people who otherwise probably would have started demanding
much stronger measures. 25% unemployment is where Communist
Revolutions started becoming likely. The New Deal probably saved
Capitalism in the US.
Elemenope,
Some of them were struck down by the Supreme Court, but others were
dismantled by the Democrats themselves.
Oh, that "pussy" comment? How about delivering that one in
person.
get off it, susan sarandon. move to fucking italy already.
Shem,
Which was his stated intent from the beginning. That is, "saving
capitalism from itself", which should really be read "saving
capitalism from socialism". People are pacified by bread, and for
good reason. There is little incentive to upset the apple cart so
long as you get enough apples. Once people starve, there is much
less to lose from revolution.
Some of them were struck down by the Supreme Court, but others
were dismantled by the Democrats themselves.
True enough, but that was as much a political tack as it was honest
chagrin at previous error. They were getting *slapped around* by
SCOTUS, and wanted to avoid prolonging the confrontation while they
were destined to lose.
Winning strategy: Kick Sarah Palin off the ticket and
nominate Trigg's pacifier!
A binky? McBama's already offered the American people the real
thing -- a huge government teat.
"Gimme gimme gimme. Do for me, do for me." Americans have no
dignity anymore. It's embarrassing.
I'm sure that few here would advocate repealing the FDIC
(one of the best things to come out of the New Deal as far as
economic stability goes). lumping it all together is as mindless as
saying "guns bad."
Well, joe, the existence of the FDIC did mean that banks no longer
competed on the basis of actual perceived soundness or solvency.
[And they did compete on that basis at one time.]
If you aren't going to compete on soundness, you can only compete
on service and yield.
And I don't know about you, but "A banking system where depositors
perceive all banks to be equally sound, and where the banks compete
on who can take the most risks to improve yield without failing,"
sounds a wee bit familiar to me.
The FDIC has been pretty good at insulating us from bank failures,
to this point in time. So the risks and the moral hazard it
introduces into the system has been offset by the fact that it has
been able to buy out any failures. But that might not always be the
case - if the failures get big enough, the FDIC would be
overwhelmed.
True, Fluffy, but that would have to be one mighty
collapse.
Even in these straits, I'm gonna go with "not bloody likely".
Fluffy,
1. I didn't write that.
2. Given the complete absence of bank runs over the past seven
decades, and the catastrophic damage they used to do, I don't think
that losing "Fear that I might lose the money I put in a bank" has
been much of a problem overall.
And I don't know about you, but "A banking system where
depositors perceive all banks to be equally sound, and where the
banks compete on who can take the most risks to improve yield
without failing," sounds a wee bit familiar to me. You can
make a lot of things sound similar if you leave out the details
that make them different.
if the failures get big enough, the FDIC would be
overwhelmed. Hence, the capitalization requirements and other
regulations that have made the banking sector so much more stable
than the rest of the financial sector during this crisis.
They remember with nostaglia FDR and his fireside chats not
his utter incompetence with "fixing" the economy.
They were too busy celebrating how he lied us into an unnecessary
war that killed millions of people and invaded a country that had
not even attacked us.
It's funny how people who were actually there don't "remember" something as well as people born fifty years later.
They remember with nostaglia FDR and his fireside chats not
his utter incompetence with "fixing" the economy.
...
They were too busy celebrating how he lied us into an unnecessary
war that killed millions of people and invaded a country that had
not even attacked us.
If there were a competition for non sequitors, this would be the
winner, hands down.
It's funny how people who were actually there don't
"remember" something as well as people born fifty years
later.
I'm not up on all the libertarian arguments that FDR caused or
exacerbated the Depression, so I won't defend them specifically. I
will argue, however, that events are often understood much better
after a few years have passed than while they are occurring.
I will argue, however, that events are often understood much
better after a few years have passed than while they are
occurring.
And for economic ones, I'd say it takes a decade or so. The
disappointing thing about the Depression is that critical research
didn't begin appearing immediately afterward, and now we lack a
good deal of context. Really, pre-WW2 financial research is
generally very sparse, so I don't buy the idea that anyone grasps
the big picture of what happened several generations ago and never
happened again.
I have my own assumptions about the current government response,
that we'll eventually realize that the recent interventions were
largely ineffectual and, if anything, merely
helped introduce more volatility. After all, equity markets
have tended to rise on anticipation and fall after the numbers fail
to meet expectations, and there's been a lot of strategic behavior
in the markets.
Just a little humility, and a little less contempt for the people who were actually there, is all I'm looking for.
Just a little humility, and a little less contempt for the
people who were actually there, is all I'm looking for.
While we're looking for things that won't happen, I want to see an
understanding that the economic numbers aren't terribly useful in
explaining how people were viewing events. Which, given the fact
that it's people who drive the political process, not numbers, is
far more important than the economic specifics.
Just to bring this thread back on topic, I think the problem is
not John McCain's anger, it's that John McCain doesn't do anger
well. He doesn't have the voice for it. He sounds like the old
grump who sits on his porch in slippers just waiting for some kid
to step on his property so he can yell, "You punks stay off my
lawn!"
He needs to bring his voice down about an 1/2 an octave, look Obama
directly in the eyes and say, "The problem with your relationship
with William Ayers, Senator Obama, is simply that you were able to
spend long hours with him--in his home, even--without punching him
in the face!"
There have been quite a number of articles here trashing John
McCain.
Is this because the Reason staff want to deflect some votes from
McCain to whatever clown-shod no-hope loser is running on the
Libertarian ticket?
Joe, there has been just a bit of inflation over the past 7 decades. What cost $100 in 1937 would cost $1429.95 in 2007, and even more today. Also, today more than ever, the FDIC is looking like it, too, is headed for bailout-ville. I'm just glad so many resources were directed against 100% backed systems competing with the Federal Reserve while Wall Street leveraged. Yet-another example of Bush just going right along with those eeeeevil libertarian gold bug types.
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