Obama's Hubris

It's becoming apparent that Obama doesn't have a positive understanding of the principles of limited government or the economic system of capitalism. Obama's negative understanding is simplistic and based on the new, progressive liberal idea that capitalism has failed modern society. Obama seems to have a patronizing attitude toward capitalism -- he sees it as a system in which people are blindly pushed and pulled by self-interest with no enlightened understanding of the greater good. It's an elitist attitude which assumes a position of superiority, but with compassion towards those who simply lack vision to see the bigger picture. There's a little cosmic humor in the picture of a handful of technnocrats who believe they can engineer society -- sort of like an image of The Three Stooges pulling giant universal levers which guide global activity.

The whole political scene is becoming surreal -- not that political scenes aren't usually surreal -- I remember Watergate like it was yesterday. Now, though, the media provides us with front row seats at the theater of the absurd 24 hours a day, 7 days a week. I don't know if Obama believes his image or whether he's using the image to get his agenda enacted before the image fades and people begin wondering whether he is Moe, Larry or Curly Joe.

Seriously, though, the narrative is seductive. A group of enlightened, compassionate Whiz Kids, led by a young, political visionary, outside the mainstream of old and conservative, make it to central control of the universal levers and they are committed to moving the vast machines of modern industry, foreign relations, technology and society in general into the 21st century. They are laying a New Foundation on which new energy sources will replace the chains and earth-pollution of foreign oil -- they are expanding healthcare to reach the most needy so that a healthy nation will rise to meet the challenges of a great transition -- they are chasing the money-lenders from the temple and laying the groundrules for equality and justice -- and they are building bridges for the working class who face the chasm between old industries and new.

They aren't doing this to destroy capitalism and free markets, but to create a New America committed to global co-operation as we enter a new era which demands less national arrogance and more universal humility -- a New America where wealth is shared rather than hoarded among a fortunate few. Okay, I'm making myself ill.

If they do believe the narrative then there's a huge disconnect between intention and practice, because in practice this all looks like cronyism. It's Obama who could use a dose of humility. Perhaps he's fallen victim to delusions of grandeur -- I can understand this, what with all the power a president has been given recently. However, to anyone not seduced by the narrative, what Obama and company are doing is incredibly arrogant -- and foolish. If the media was doing its job, there would be stories of this incredible attempt at social engineering showing how it can possibly ruin the nation. Obama and the Democrats are heaping burdens on businesses which they can't, and won't, sustain. Obama seems bent on running jobs out of this country. If businesses ship jobs overseas, and, in retaliation,  Obama places tariffs of foreign imports, it's, as Yogi Berra said, deja vu all over again -- does the word "depression" strike a familiar note?

Investors and businesspeople aren't going to stand still and allow Obama and the Democrats to confiscate all their wealth. GE and Goldman Sachs don't have anything to worry about -- they're connected -- but the companies which aren't in on the cronyism will not allow wealth to be transferred to the government's favored corporate partners. Obama is playing a dangerous game of paying off the special interest groups which make up his power base while at the same time enriching his corporate partners which make up his power source. If this sounds cynical and paranoid, I'm sorry, but the present gang in office is so blatantly and arrogantly laying it out, a conspiracy nut has very little hard investigative work to do. It's like they're all advertising what they're doing, then smiling and spouting a few platitudes -- they must think the American people are pretty stupid (oh, I hope they're wrong). With everything else going on, it's becoming obvious Ken Lewis is telling the truth.

And we still don't have the whole story on Gerald Walpin.