Can Obama Take the Whole System Down?

Here's some lib warning his readers that Obama is in for a rough ride. There is a lot wrong in the article, but there is enough right to link to it.

The wrong:

Had FDR come in earlier, he would have saved the country from economic depression. Wrong. He, along with Hoover, caused the depression. The economy was worse after six years of FDR than it was when he started dicking with it.

The right:

Subsidizing failing banks and industries will only prolong the present economic malaise. Reagan whipped stagflation by forcing the economy to take a dose of monetary caster oil.

But most of all there is this:

The Establishment—the academic and policy elite, Wall Street, famous sexy people—are more invested in Obama than they’ve been in any president in decades. If Obama fails, a whole system will go down with him.


That is quite a statement, and one which I've been thinking about for a while. What in fact happens if we wake up in two years and newspapers are gone, Hollywood is weak (due to file sharing), and Wall Street and Dems are thought to have a corrupt contract (which they do).

My bet is that the average Joe will feel duped by all the hopey changy stuff and the election of Obama will seem like a irresponsible indulgence, akin to the country acting like a spoiled kid eating ice cream for the main course. About then, it will seem like a good time to bring back the adults.

But this guy may be right. There is more at risk here than just the presidency. The "establishment" is all in with this administration and they are simultaneously losing power on many fronts already. I agree that the whole house of cards could come tumbling down if The One pushes the economy into a long downturn.

Closing questions. Is there anyone waiting in the wings more adult-like than Mitt?

0 comments: