It's unfortunate for the Democrats that their God-and-Jerusalem convention blunder came on the same day as the hot excerpts from Bob Woodward's latest White House tell-all book. Bob suggests that there is nobody home at the White House. From Speaker Boehner about the debt-ceiling deal:
After Wednesday, September 5, 2012 you can see why things like governments, corporations, and campaigns need good management and organization. When you have a bunch of people gathered together in some cooperative endeavor it is really hard to make things happen, to make the trains run on time.
The real hit on the Obama administration is that it failed to adjust its agenda in January 2009 from rushing through the liberal agenda to fixing the economy. No surprise there. Liberal governance is built upon the idea that the economy can take care of itself. While the economy takes care of itself liberals will apply the patches and programs needed to make it just and fair.
That works most of the time, especially if like Kennedy, like Carter, like Clinton, you are coming into office about a year after the bottom of a recession. But the evil Bush cunningly delivered the economy to President Obama before it had really started to fire on all cylinders. And Obama just went ahead with business as usual, assuming that the hallowed Keynesian recession remedies would work.
Only they didn't.
In my view, the economy needs, above all, to fix the underwater mortgages. I don't know what the best way is. Inflation? Liquidation? Principal adjustment? Who knows. But until the credit system is working, with all normally "sound" borrowers back above water, you can forget a booming economy. Capitalism works on credit. Credit means faith, confidence, etc. When people don't have faith in the other guy then they start to put their money under the mattress, buy gold, and hunker down.
I read someone the other day who wrote that the Obama people don't understand money.
Somebody else wrote that the problem with financial crises is that the last big one usually happened before anyone now working in finance was old enough to go to work. So the people trying to solve the crisis are usually flying without a seasoned instructor in the cockpit who has seen it all before.
It would help to have someone in the cockpit that really understands finance. Let's see. Would that be a chap who spend a couple of decades dealing with failing companies?
Nah. Much better to go with a community organizer that can deliver a really good speech in a stadium.
Meanwhile, is anybody at home at the White House?
"The president was trying to get there. But there was nobody steering the ship underneath him," Boehner told Woodward. "They never had their act together. The president, I think, was ill-served by his team. Nobody in charge, no process. I just don't know how the place works. To this day, I can't tell you how the place works. There's no process for making a decision in this White House. There's nobody in charge."And then Bill Clinton reminded us that, all in all, it's just as well that presidents can't run for a third term. The dear old chap does run off into the weeds.
After Wednesday, September 5, 2012 you can see why things like governments, corporations, and campaigns need good management and organization. When you have a bunch of people gathered together in some cooperative endeavor it is really hard to make things happen, to make the trains run on time.
The real hit on the Obama administration is that it failed to adjust its agenda in January 2009 from rushing through the liberal agenda to fixing the economy. No surprise there. Liberal governance is built upon the idea that the economy can take care of itself. While the economy takes care of itself liberals will apply the patches and programs needed to make it just and fair.
That works most of the time, especially if like Kennedy, like Carter, like Clinton, you are coming into office about a year after the bottom of a recession. But the evil Bush cunningly delivered the economy to President Obama before it had really started to fire on all cylinders. And Obama just went ahead with business as usual, assuming that the hallowed Keynesian recession remedies would work.
Only they didn't.
In my view, the economy needs, above all, to fix the underwater mortgages. I don't know what the best way is. Inflation? Liquidation? Principal adjustment? Who knows. But until the credit system is working, with all normally "sound" borrowers back above water, you can forget a booming economy. Capitalism works on credit. Credit means faith, confidence, etc. When people don't have faith in the other guy then they start to put their money under the mattress, buy gold, and hunker down.
I read someone the other day who wrote that the Obama people don't understand money.
Somebody else wrote that the problem with financial crises is that the last big one usually happened before anyone now working in finance was old enough to go to work. So the people trying to solve the crisis are usually flying without a seasoned instructor in the cockpit who has seen it all before.
It would help to have someone in the cockpit that really understands finance. Let's see. Would that be a chap who spend a couple of decades dealing with failing companies?
Nah. Much better to go with a community organizer that can deliver a really good speech in a stadium.
Meanwhile, is anybody at home at the White House?
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