When ideology rules
Saving the banking system was pretty simple if you understood the situation and could think clearly. An article in Portfolio makes the case that the inept Tim Geithner (and other members of the Obama economic team) are bureaucrats who don’t understand the real world of banking all that well. Just what you’d expect from an administration of philosopher kings opposing corporate villains. Normally we’d say that the worst is past for the economy at this point, but these guys could still find ways to screw things up.
The Keystone Kops spectacle of the auto company negotiations, with the government now on every side of the talks seems to be another example of ideology making a simple matter complicated. The real world solution has been clear for months — Chapter 11, possibly a pre-pack.
This unnecessary complicating of the inherently simple is exactly what you’d expect from a college professor president — ideology and a kind of clueless arrogance trumping real world experience and common sense. Now, after the Napolitano fiasco, and the incoherent as well as unpopular CIA memo policy, we have the added insult that the administration is going to release photos of some interrogations. Heaven help us!
It is no surprise that many in the media continue to love Obama, unhealthy as that is for democracy. It has been almost two generations now since reporters and editors had any real world experience. Is it any wonder that the utopians love their favorite prof?
Question: what happens if reality intrudes in a really nasty way over the next few years? What does the US do, for example, if Iran gets its bomb, threatens its Sunni neighbors and others, attempts a blockade of the Strait of Hormuz, and the US is still 70% dependent on imported oil and has a tiny strategic petroleum reserve? Quick, what’s the next move?
April 24th, 2009 at 10:19 am
… What does the US do, for example, if Iran gets its bomb, threatens its Sunni neighbors and others, attempts a blockade of the Strait of Hormuz, and the US is still 70% dependent on imported oil and has a tiny strategic petroleum reserve? Quick, what’s the next move?
Judging by how Obama has been playing his hand (of late), he will call a “Time Out”. I think it would be expected that everyone would stop what they were doing (at least those who would listen to him) and wait for his decision.
I suspect we are now entering a time when “brinksmanship” will pay dividends. Nothing like taking a big lead off of 1st base to test the pitcher’s arm…
April 27th, 2009 at 1:53 am
Quick. What’s the next move? Go to the UN and have the Security Council issue a communique. Have HRC condemn the action and threaten soft-power consequences. Huddle with the Euroweenies. Meanwhile, fuel triples, dragging down the economy. 0-man considers rationing as Jimmah Carter did. Have I missed anything? I think that just about covers it.