January 20, 2010


The year of inverted socialism: Obama was more than willing to oblige the predators in a letdown first year (Walter Kirn, 1/20/10, Salon)

From each according to his need, to each according to his greed. It pains me to say it, because I voted for him, manned phone banks for him, and gave to his campaign, but Obama (in truly flabbergasting cahoots with Goldman Sachs, the Citibank alumni club, and the jet-setting Ivy-League long-range-thinking all stars who love to convene at Aspen, Davos, Sun Valley and other ritzy spas and ski resorts to discuss, over cocktails, the global common good) has managed to perfect, in just one year, an ingenious socioeconomic system that might be called "inverted socialism" and which makes the free-market conservatism it succeeded seem, by comparison, principled and simple.

As though he believes that the best way to redress a ruinous, massive private-sector theft is to rehabilitate the thieves by putting them to work as Cabinet members and high-ranking public policy officials, Obama has licensed the bungling robber barons who managed to gamble away the loot amassed in their attempt to fleece the world to recoup their squandered booty by "borrowing" from the taxpayers and homeowners (lots of them former homeowners by now) the money that they failed to grab the first time -- and then lending, with interest, the borrowings back to them!

But that’s just abomination No. 1 from this year-long experiment in reverse-progressivism that no new belated "tax" on Wall Street fortunes can hope to render more acceptable. There’s also the nearly trillion-dollar jobs program that set a new record for high-speed wealth destruction through widespread cronyism, sham accounting and bureaucratic self-enrichment. The effort climaxed in a propaganda fest touting the countless positions that it created (but really, upon investigation, didn’t create; or certainly not in the numbers that were announced) while also taking credit for all the jobs that still existed but hypothetically wouldn't exist if the whole failed project hadn’t been tried.

When has unprincipled ever trumped principled?

Posted by Orrin Judd at January 20, 2010 5:36 PM
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