Steve Chapman writes about Obama's plan for expanding the role of government:
Obama thinks the scariest economic crisis since the Great Depression is
causeâor at least excuseâfor an aggressive expansion of government, a
la the New Deal. But it's a false parallel, economically and
politically.
causeâor at least excuseâfor an aggressive expansion of government, a
la the New Deal. But it's a false parallel, economically and
politically.
The severity of the Great Depression bred desperation, which made
the public receptive to radical changes. This contraction has been far
milder and less disruptive. In Franklin Roosevelt's day, Americans were open to transforming the economy. All they really want today is to revive it.
While they are willing to accept drastic measures to reverse the
recent slide, they are not likely to favor keeping them once the
emergency has passed. We all hope to see firefighters in the house if
the kitchen catches fire. Few of us would want them to move in after
the flames are out.
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{ 22 comments }
Russ wrote: "Few of us would want them [the firefighters] to move in after the flames are out."
The analogy should be extended if you want it to represent the Congress and Monetary authorities that got us into this.
I'd revise put it this way: None of us would want the people who started and FED (sorry about the pun) the fire in our kitchen to come to our home and dump gasoline on the blaze.
Russ:
Sorry I made the attribution to you when the above quote was one you posted from Steve Chapman. It is his analogy that I would rewrite as above.
Indiana Jim,
Very good!
People who sat on the sidelines, made their payments, and didn't get sucked into excessive HELOCs and cash out refis aren't having trouble today. In fact, lower housing prices are good for them. They mean housing is more affordable and property taxes are lower. It's not a crisis, but a budding opportunity.
The thing that really kills me about this is that the biggest foreclosure problem in SoCal is in Riverside County, which actually remained pretty affordable at the top of the bubble. Had I wanted to live in the Inland Empire, I could have sold my condo in The O.C., bought a detached home with a nice lot just over the mountain in Lake Elsinore, and reduced my long term debt. Or I could have bought a freakin' mansion in Henderson, NV. I'm not even terribly good with personal finance. There are lots of people who are just plain lousy with them.
I'll second dg lesvic, very well said, Jim.
Except in this analogy the firefighters, not wanting to go away when asked, will find a way to keep themselves around and needed; they'll start a fire somewhere in that house as they're leaving your home and feigning being excited about getting back to the department.
I think a recent event underscores Obama's intentions but few have talked about it much.
Back during the election a friend pointed out the Obamas' scant charitable donations, about 1% of their income. This changed when Obama became a contender and their donations went way up. My friend found it odd considering all their lip service about helping the poor. I told him it actually fits nicely with Obama's worldview, in which government should take over charities and play a greater role in every other area of our lives.
Now, Obama has gone and provided evidence which supports my view by trying to reduce and/or eliminate tax deductions for charitable donations.
What I really don't understand is why so many are just now figuring out how the guy thinks. All the evidence is in his own books; who he chose to associate with and why, how he thought about his father – a socialist planner in Kenya, etc. It should not be a surprise.
RickC,
Somehow, I just don't think anyone participating on this Cafe is surprised.
Only the truly stupid made any assumption that it would be, that it could be, different.
I think the theme of transforming the economy is not something to let go of lightly. You have to believe that the far left wingers are Marxist that want to exactly that.
RickC,
His father wasn't a socialist. He was a communist who wrote an entire paper making the case for stealing land and redistributing it.
Obama is a disgusting piece of work. My friend's brother-in-law is (was?) an old friend of Obama's from law school – before Obama was anything. They remained close friends over the years, attending each others' weddings, vacations, the whole nine yards. Obama asked my friend's brother-in-law (who is an incredibly sweet person whom people at the cafe would love to converse with, despite his left leaning beliefs) to work on his campaign. The guy went so far as to take sabbaticals from work to travel with Obama during the campaign.
As soon as Obama won, he dropped his old friend like a hot potato. No more calls, emails, nothing. Not even a "thank you". It's as if the guy never existed. For me, that pretty much says everything about this presidential douche. I also know what the pilot who flew Obama during the campaign had to say about his behaviour, but this story really takes the cake.
Obama and his dream team make the Keystone Cops look like a precision drill team.
I for one think that we have a lot to learn from people like raivo pommer on this particular issue. For me, he summed the issue up most succinctly. We could all stand to learn a lot from him.
Rick, everyone would have said a year ago, when they were still thinking clearly, that Obama would behave as he has proven to behave. But add up run to the center campaign, a financial crisis, and John McCain as an alternative, and a ton of voters suspended their disbelief and voted him to power in a really open-minded way, hopeful that their experience might prove wrong. The "surprise" is really just the sight of people losing the illusions they put on last fall and waking up from the dream.
It sounds like he's missing a wider point. Fires kill thousands of people, result in billions of dollars worth of property damage, and cause untold pollution and health problems every single year. Others escape unharmed altogether, an unacceptable injustice. People – unregulated fire does not work!
It's time for government to take control of fire altogether, for the good of the country, and appoint a fire czar. Remember also that a firefighter in every home will immediately create 100 million new jobs and save the economy.
It's clear that only the most callous individual could argue for control of fire to remain in private hands.
(Yes, I *am* being utterly facetious.)
Actually, Martin Price, that was nicely done. Good satire.
Indeed it was! Made even better because I parsed your name as "Vincent Price" at first, and was thus taking in the bit as narrarted by his excellent voice.
"In Franklin Roosevelt's day, Americans were open to transforming the economy. All they really want today is to revive it." – The saddest thing is: I don't think this is true.
Are these firefighters women?
Zac – it's a mistaken assumption to think the average Joe or Henrietta is thinking about the economy as a whole.
OMG Crusader is that dead on!
Does the ecnonmoy have a screw-on cap on it?
Crusader,
Henrietta? What happened to Jane?
vidyohs – I prefer Henrietta, gives a certain 19th century vibe to it.