I suppose there should be a category beyond pessimism , but I will stick with the word. Monty Pelerin is one of a number of analysts who feel this congress and this administration are toying with abject collapse and are tuning up for their turn as Nero in the While Rome Burns contest.
I have felt for quite some time that when Barack Obama took office he realized he was faced with a stark choice. He could “do the right thing” as the saying goes, and put the nation back on a sound economic footing. Or, he could listen to his base and follow his instincts, hoping for the best.
I think he clearly chose the latter option because confronting unions and entitlements, cutting the scope and size of government, breaking the chains that grip the economy and letting go of the “global warming” mantra was simply too much for him. The choice was actually very easy for him. He is a “progressive” at the very least, and anyone who disagrees with his views is lying. It couldn’t be simpler.
His “economic team” cobbled together a “progressive” economic plan to float our way out of this and return to prosperity via some not-very-easily explained mechanism. The mechanism had something to do with a touch of inflation, government spending and increased taxation acting as economic stimuli, regulation serving to make business efficient and environmental regulatory shackles actually opening the doors to the vault where the high-paying easy-to-support union jobs that can’t be offshored are. If that makes sense to you, then you are a “progressive.”
The fact is that President Obama is, at the very least, a “progressive” who has more Marxist and Maoist friends than capitalist ones. He is, however, a friend of money and money interests and often acts to further his friend’s interests. As far as I can tell he has less economic expertise than I do, and being a “progressive” he simply will not listen.
The fact is that “progressives”, like Marxists and communists, do not actually believe in the free exchange of ideas. Oh, you can talk – if they don’t have enough power to stop you – but they simply do not believe what you say.
Any economic statement they disagree with is a lie.
So, he “stimulated” us and passed a simply unbelievable budget because that is what “progressives” think will work.
Cue the flying pigs.