Pre-P. S.: Note please that as stated last year, I have been blogging at The Daily Capitalist. As that is a WordPress site and this site uses Blogger, there are interoperability problems with dual posting. I will continue posting here on various topics and in the future will place links here to those posts.
Now to today's effort. Barack Obama looks to me like a warlike Jimmy Carter, floundering at home and aborad.
Gone are the days when his critics called him 'Bambi'. Now he sends his Defense Secretary to posture, his strategy in Afghanistan having failed so far. Here is Robert Gates' latest:
KABUL, Afghanistan – In a last farewell to US and international forces in Afghanistan, Defense Secretary Robert Gates says they are on track to deliver a decisive blow against the Taliban.
Sorry, it was over a year ago that we heard that the victory in the non-city of Marjah was a prelude to a major, successful takeover of Kandahar city. What Gates and his boss should have done is what corporations learned to do years ago: underpromise and overdeliver. First rout them, then everyone will see the victory and you can be modest. Assuming the reporting is correct, Gates was engaging in puffery. Unattractive.
Not that I favor this effort at all. My sense is that 'Bambi' is in league with the neocons. I prefer the Reagan years. The only foreign military aggression I remember US troops performing was the minor thing in Grenada. Peace through strength. The last decade of all war, all the time with the latest, Libya, being an obvious war of choice.
Anyway . . . as with the ongoing military effort in Afghanistan, so with the economy. It's not yet falling off a cliff, and let's hope it does not, but as with Afghanistan, the administration has overpromised and underdelivered. And as the economic course was set in 2009 and 2010 with no Republican support, it was the Dems who were the lone wolf party and their president whose electoral fate is likely going to be decided next year based on the choices they unilaterally made one and two years ago.
It's time to let freedom (economic) ring. That's the solution. As we saw in 2009, the administration had no creative ideas for the economy, and so they ran up a multi-trillion dollar debt for little if any lasting benefit. At least FDR had the CCC and built some structures that are still in use today.
When the latest round of "Keynesianism" fails, which people will start to notice by this fall at the latest, there will be that many more adherents to the historical American position that that government is best that governs least.
BTW I put 'Keynesianism' in quotes because we are in a post gold-standard world with deficits so profound that it is impossible to know what John Maynard himself would be advocating were he around today. We have moved to an economic Extremistan that is sui generis in American history.
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