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August 03, 2011

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Ranger

Instapundit linked to this:

'Civility': The Denouement

The liberal elite grows even angrier and more desperate.

A little taste:

The Obama presidency has reduced the liberal left to an apoplectic rage. His Ivy League credentials, superior attitude, pseudointellectual mien and facile adherence to lefty ideology make him the perfect personification of the liberal elite. Thus far at least, he has been an utter failure both at winning public support and at managing the affairs of the nation.

Obama's failure is the failure of the liberal elite, and that is why their ressentiment has reached such intensity.

I posted this in the other thread, but it seems appropriate here as well:

Barbarians at Washington’s gates

Ranger

BTW, the thought occured to me yesterday, that killing Obamacare would save over $1 trillion. It would be very easy to turn 2012 into a debate over which the country would rather have: Obamacare, or the Bush tax rates.

narciso

Naomi Klein, she's such a punchline, even Le Carre, used her as signifying shorthand for an anarchist activist, who turned out to be
an informant for the security services,

bunkerbuster

Identity conservatives love to boast about their preference for violence to resolve conflicts, but then they whine like babies when people connects the dots between their flamboyant displays of macho-insecurity and actual mayhem.

Ben Franklin

See. You just have to apply yourself....

BumperStickerist

What is best in life?

The lamentation of de wimmin.

All the better considering Markos's bit of understatedness back during the Ascent of Obama.

Markos - Break their back, Crush their spirits

-

Danube of Thought

Minus 19 at Raz today.

Ben Franklin

http://www.harpers.org/archive/2009/07/0082562

Barack Hoover Obama.....

Hoover’s every decision in fighting the Great Depression mirrored the sentiments of 1920s “business progressivism,” even as he understood intellectually that something more was required. Farsighted as he was compared with almost everyone else in public life, believing as much as he did in activist government, he still could not convince himself to take the next step and accept that the basic economic tenets he had believed in all his life were discredited; that something wholly new was required.

Such a transformation would have required a mental suppleness that was simply not in the makeup of this fabulously successful scientist and self-made businessman. And it was this inability to radically alter his thinking that, ultimately, distinguished Hoover from Franklin Roosevelt. FDR was by no means the rigorous thinker that Hoover was, and many observers then and since have accused him of having no fixed principles whatsoever. And yet it was Roosevelt, the Great Improviser, who was able to patch and borrow and fudge his way to solutions not only to the Depression but also to sustained prosperity and democracy…But right from the beginning, Roosevelt also endorsed reforms, from regulating Wall Street to saving the farmers to backing labor unions in their organizing wars, that required _conflict—_the only way in which a political and economic system can be fundamentally remade. When the NRA quickly proved to be a bust, FDR discarded it, and replaced his failure with the Second New Deal, in which business, labor, and government were situated as countervailing forces against one another—a fundamental power shift that enabled advances in both prosperity and democracy unmatched in human history…

Much like Herbert Hoover, Barack Obama is a man attempting to realize a stirring new vision of his society without cutting himself free from the dogmas of the past—without accepting the inevitable conflict. Like Hoover, he is bound to fail.

Captain Hate

BTW, the thought occured to me yesterday, that killing Obamacare would save over $1 trillion. It would be very easy to turn 2012 into a debate over which the country would rather have: Obamacare, or the Bush tax rates.

ObamaCare should be front and center every day. The Repubs have this firmly on their side yet somehow lose the ability to bring it up when El JEFe spouts his usual garbage about caring about employment. It should be automatic to respond: Want to help employment; repeal ObamaCare.

I thought bunkerbuster was that homeless person who scaled the White House fence ostensibly to get paid for his trolling activities; then I saw he was black so no way.

BumperStickerist

BB -

it's not so much a case of "identity conservatives" whining like babies, but rather they're expressing frustration that the people
"connecting the dots" are perpetual teenagers.

Their logic is implacable.

-

narciso

You know Captain, I knew there was a reason why they keep most of Harper's customary output, offline, it's the 'more selective'
strategy that the Times keeps forgetting,

Chubby

((White House Calls Use of the Word 'Terrorists' to Describe Tea Partyers 'Inappropriate' and 'the Product of An Emotional Discussion'))

I didn't think it would poll well.

Talking Tea Party is talking a vast swath of financially responsible middle Americans, and the swing voters who gave Obama a mandate of fiscal responibility, at which he has dismally failed, know it

Melinda Romanoff

There may be other economic interpretations of that period, quite overlooked, until recently.

BumperStickerist

the funniest phrase from "The Atlantic" - which I doubt BF read - is "mental suppleness."

What on Earth makes anyone think that "mental suppleness" is characteristic of Obama?

-

FDR - the great improviser - was an Assistant Secretary to the Navy and Governor of a major state prior to becoming President.

Of such experiences is mental suppleness born.

Ranger

Via Hot Air Headlines:

The eternal pivot

February 2009: In a speech to Congress, Obama says his economic plan will be focused on jobs.

November 2009, during the lull in health care debate: “This is my administration's overriding focus.”

January 2010: “What they can expect from this administration, and I know what they can expect from you, is that we are going to have a sustained and relentless focus over the next several months on accelerating the pace of job creation, because that's priority number one.”

April 2010: Post health-care, Obama goes on a bunch of “Main Street” tour stops to talk about jobs in April and May.

June 2010: The beginning of recovery summer.

December 2010: “And I think we are past the crisis point in the economy, but we now have to pivot and focus on jobs and growth.”

January 2011: Obama’s State of the Union focuses on jobs and afterward he makes a big jobs push (even though Egypt is taking up his, and the world's attention), launches “Startup America” initiative.

This is getting as bad as Jimmy Carter's grand announcments of a sweeping new economic policy every 6 months.

Ben Franklin

The 'suppleness' to which you refer did not belong to Hoover, but FDR. Hoover and Obama lack suppleness. If you had actually read, you wouldn't need me to explain it, bump.

Belarus Bytes

It doesn't matter how much we "stimulate" the economy as long as the uncertainty surrounding Obamacare, EPA regulations, and energy availability persist, businesses will not invest in new employees or any other type of expansion. I should say that big business will expand, but only outside of the U.S.

Restraining spending is certainly necessary for our long-term survival, but I think we would get a bigger bang for the buck (so to speak) in the short-term if we concentrated on eliminating this uncertainty.

Captain Hate

More selective strategy, narc? Does Pinch still employ anybody that performs an "editor" function? Or were they all let go in one of the frequent blood lettings?

Janet

More nude photos of democrats. What a loser party.

narciso

Didn't Lippman call him 'a second rate mind' though, and isn't the proof in the pudding,
didn't demagogic turns like in the '36 campaign, against 'the malefactors of wealth'
the Court packing blackmail scheme, that ultimately did work, the civil service campaigning that prompted the Hatch Act and the '38 turn against a liberal majority,

Threadkiller

--"Identity conservatives love to boast about their preference for violence to resolve conflicts"--

How is Libya working out for you?

Rick Ballard

Perhaps a better historical analogy might be that the President represents a bookend to the 100 years of progressive failure which began with the inauguration of the racist eugenicist, Woodrow Wilson, in 1913 and will end with the racist eugenicist Barack Obama's departure in 2013. Perhaps the slaughter of black babies for sport and political profit will diminish with Obama's exit?

BumperStickerist,

If you think "snake" when you read "supple" it fits pretty well.

BumperStickerist

Yeah, Rick - "snake" fits.

Conservatives recognized early on who and what Obama was. To me, he has an almost mechanical reaction to events. But my leftie friends insist that he's doing that 11 dimensional chess thing. To the left - Obama's suppleness was an article of faith.

One of the enjoyable prospects for the Post-Obama period will be watching Obama and Bill Clinton duke it out for speaking engagements and ceremonial gigs.

My money is on Bill.

Danube of Thought

"Identity conservatives love to boast about their preference for violence to resolve conflicts"

They do? News to me...

narciso

''We really dodged a bullet,' with Sancho Panza, sigh:


When I went up, she said, ‘Joe,” Biden recalled of his meeting with Giffords. “I said, ‘Now we’re both members of the Cracked Head Club.’ You know, I had two craniotomies. For real. They literally took the top of my head off. Twice. Now, the wags in Delaware, when the second operation occurred, wrote and said, ‘Well, it’s because they couldn’t find a brain the first time!’”

Ben Franklin

" To me, he has an almost mechanical reaction to events. "

I feel certain you read that somewhere on the innertubes.....

glasater

And yet it was Roosevelt, the Great Improviser, who was able to patch and borrow and fudge his way to solutions not only to the Depression but also to sustained prosperity and democracy…

BOzo has yet to display that ability.

Ben Franklin

yes, that is the point, glas.....very good.

glasater

And what is your point?

Captain Hate

One of the enjoyable prospects for the Post-Obama period will be watching Obama and Bill Clinton duke it out for speaking engagements and ceremonial gigs.

My money is on Bill.

Slick has always been good at separating fools from their money or virginity. When he was regaling a bunch of Canadian Jews shortly after the merciful end of his time in office with a whopper about how he would grab a rifle and defend Israel if it was threatened I was stuck wondering if he barely edged out Suha Arafat as a headliner.

Belarus Bytes

And yet it was Roosevelt, the Great Improviser, who was able to patch and borrow and fudge his way to solutions not only to the Depression but also to sustained prosperity and democracy…

Where is the evidence that Roosevelt's policies brought "sustained prosperity and democracy". He had almost 10 years to work on the problem prior to WW II but with very limited, if any, success. My understanding has always been that it was the war that finally put the labor force and manufacturing back on a solid footing.

Extraneus

I think people are talking at cross-purposes.

When it comes to the economy or any aspect of liberty, Obama is a clay-footed clod and a dunce.

When it comes to taking the country down a peg, redistributing income, advancing "social justice"/socialism or any other cause of statism, he's a chess master.

DerHahn

Analysis ruined by the usual historical FDR hagiography.

FDR ran to Hoover's right in 1932, criticizing his policies as too radical.

He trimmed his sails because the Dems got their butts kicked in 1938 (The GOP gained 80 seats in the HofR, shades of 2010).

His policies objectively prolonged the Depression.

FDR = Hoover = Obama.

Ben Franklin

"And what is your point?"

Holy Moly.

YOU REPEATED MY POINT . shall I write it down for you again?

Rick Ballard

It's possible that Hoover was a bigger progressive non-thinker than even Roosevelt. A glance at the unemployment rates during the Depression suggests that bombing the factories of Europe and Asia to rubble had a greater impact upon "sustained prosperity" than any of the rainbow and unicorn fart prog policies instituted by President for Life Roosevelt.

BumperStickerist

To me, he has an almost mechanical reaction to events. "

I feel certain you read that somewhere on the innertubes.....

Posted by: Ben Franklin | August 03, 2011 at 10:35 AM

You would be ... wrong.

I formed an observation based on my first-hand experience and expressed an original - if not unique - thought.

You might try it sometime.

... or not.

Ignatz

--The 'suppleness' to which you refer did not belong to Hoover, but FDR.--

Suppleness; otherwise known as dishonesty when practiced by a non lefty.
Virtually everything in your C&P was wrong. Hoover made every possible 'progressive' mistake he could have, including massive government spending and tax increases, topped off by protecting American jobs with more tax increases called Smoot Hawley.
FDR meanwhile campaigned against him as a tax and spending cutting juggernaut, which he promptly and supplely abandoned by Hooverizing his administration almost instantly.
Had he had the sense to follow his campaign promises the Great Depression almost certainly would not have been very "great" at all and would be as obscure as Harding's rescue of the economy ten years earlier by employing precisely those campaign promises FDR hadn't the brains or integrity to follow.

Danube of Thought

Obama may or may not recognize that he could substantially boost employment by (a) lifting all drilling moratoria, (b) suing to halt the NLRB action against Boeing, (c) introducing legislation to overrule almost every ruling made by the EPA since Lisa Jackson became Administrator, (d) introducing legislation to repeal Obamacare, and (e) introducing legislation to repeal Dodd-Frank.

He may or my not know that, but it doesn't matter. Even if he knows it, it does not dovetail with his desire to convert the US into a European-style regulatory and entitlement state. He will gladly endure continued high unemployment to advance that program.

Captain Hate

O/T Listening to a clip of Matt Damon pontificating on teachers and tenure was so mind-numbingly poorly reasoned that he might even be dumber than I previously believed.

Jane

Is that even possible Capn?

glasater

In an interview with Greta last evening Mitch Mcconnell said he had gone over the points Dot makes in his 11:12 comment with Obama--both publicly and privately.

Appalled

Bunkerbuster

Ok. I just want to know. What's the difference between an "Identity Conservative" and regular, plain old, Conservative kind of Conservative?

Please keep this short....

Ben Franklin

http://www.reuters.com/article/2011/08/03/us-usa-economy-idUSTRE7662I420110803?feedType=RSS&feedName=topNews

ADP growth projections.

ADP is one of the biggest payroll 3rd parties in the US. I might add, from personal experience, they are buffoons of incompetence and scions of customer service.

Plus, they are wrong about 100 percent of the time........

Jane

Gateway Pundit is saying that both parties asked Obama to leave the room during the debt ceiling negotiations.

Amazing.

Captain Hate

Is that even possible Capn?

You know how you see graphs of functions where things get increasingly closer to zero even by microscopic increments?

narciso

a fan of Howard Zinn, what could possibly go wrong

Jim Rhoads a/k/a vnjagvet

It would be interesting to compare Obama's programs to those espoused by avowed socialists Clement Attlee, Norman Thomas and Upton Sinclair. My bet is ElJefe's programs are to the left of those of any of them.

Melinda Romanoff

ADP revised down the week before.

Aka "wash trade".

narciso

'Imitation is the sincerest form of flattery, right

President Barack Obama plans a bus tour of the Midwest the week of Aug. 15 with a focus on jobs, a White House official said.

Jennifer Psaki, the White House deputy communications director, confirmed a report in today’s New York Times but didn’t offer any additional details. The president, after signing deficit-reduction legislation yesterday, said he would be turning his attention to “new jobs, higher wages and faster economic growth.”

Read more: http://www.bloomberg.com/news/2011-08-03/obama-plans-mid-august-bus-tour-of-midwest-to-focus-on-jobs.html#ixzz1TyjmS4OU

bgates

solutions not only to the Depression but also to sustained prosperity and democracy

He didn't find a "solution" to prosperity, at least not a permanent (or Final) one; it returned shortly after his death.

As to the notion that he "solved" the Depression, that ended shortly after his death too.

Ben Franklin

"wash trade"

For themselves, or clients? That would be, both, right?

Ranger

President Barack Obama plans a bus tour of the Midwest the week of Aug. 15

The internal polls on PA, OH, IN, MI, and WI must be looking really ugly.

Jeff

ben f ... spare us your cut and paste Harpers fairy tale ... FDR did nothing to help the prosperity of the country ... nothing that worked at least ...

Melinda Romanoff

You really, really don't understand what a "client" is for them. Do you?

BumperStickerist

a bus tour.

of the midwest?

... Were I a Tea Partier I'd hold up signs that said:

President Obama
[b]
The Flood Waters Were
---> This <---
High in the Spring [/b]
WHERE WERE YOU THEN?

-----------------------------

but that's racist.
no doubt.

BumperStickerist

Midwest Bus Sign:
-----------------------------
President Obama
The Flood Waters Were
---> This <---
High in the Spring

WHERE WERE YOU THEN?

-----------------------------

but that's racist.
no doubt.

Jeff

wow Ben F, you talked to an ADP customer service rep once and they messed so ADP is wrong 100% of the time ...

your links and/or cut and pastes do nothing to prove your point ... they just serve to lecture us ...

Ben Franklin

"FDR did nothing to help the prosperity of the country .}

There is nothing more enjoyable than a well-documented entry which is fat with thoughtful reflection..........nice work, jeff..

Ranger

Well, it looks like the polls are stabalizing at the lows for Obama (via RCP):

President Obama Job Approval


Rasmussen Reports

Approve 44

Disapprove 54

Disapprove +10.0


Gallup

Approve 43

Disapprove 48

Disapprove +5.0


National President

Rasmussen Reports

Republican (R) 47

Obama (D) 42

Republican (R) +5.0

Ben Franklin

Mel;

I suppose not. I won't wait for you to fill me in.........

Ben Franklin

Oh, and Mel....'nice work' to you, too,,,,,,,

Danube of Thought

Go here for a discussion of how FDR's depression-era policies were counterproductive.

Danube of Thought

"How FDR's New Deal Harmed Millions of Poor People"

Mounting evidence, however, makes clear that poor people were principal victims of the New Deal. The evidence has been developed by dozens of economists -- including two Nobel Prize winners -- at Brown, Columbia, Princeton, Johns Hopkins, the University of California (Berkeley) and University of Chicago, among other universities.
Melinda Romanoff

No breakfast in bed for you!

Ben Franklin

Such anxiety about saving SS and Medicare is encouraging.....I say give Congresscritters a voucher for $7000 each year to cover their Medical expenses. That'll fix Medicare, quick....

http://www.newsmeat.com/news/meat.php?articleId=107291552&channelId=2951&buyerId=newsmeatcom&buid=3281

"Aug 03, 2011 12:10 EDT

WASHINGTON (Reuters) - With Medicare at the top of lawmakers' fall agenda, Tea Party movement leaders hope to ignite support for Republican plans to transform the popular federal healthcare program for the elderly.


Thousands of Tea Party movement activists are expected to descend this month on town hall meetings across key battleground states as part of an intensifying campaign ahead of the 2012 presidential and congressional elections.

Their priority is a plan to slash Medicare costs proposed by House of Representatives Budget Committee Chairman Paul Ryan, which could gain momentum now that a debt-limit deal between President Barack Obama and Congress has made potential Medicare cuts a centerpiece of the deficit debate.

A new congressional committee charged with finding $1.5 trillion in spending cuts by November 23 is expected to focus on Medicare, and the program would see automatic cuts if the committee failed to reach agreement, or if Congress did not approve its recommendations by December 23. Market values of companies that depend on Medicare spending fell more than 10 percent in a sell-off on Wall Street after the agreement.

"The August town halls are going to be, potentially, a referendum on Democrats who don't care and Republicans who've dared to offer real policy solutions, particularly on things like entitlements," said Matt Kibbe, president of FreedomWorks, the small-government advocacy group organizing the initiative.

"The Ryan plan is the only one out there so far, and what we need is an adult conversation with all politicians talking about the real issues."

Decried by retirees, labor unions and Democrats as a voucher system that would end Medicare, the Ryan plan appeared near death after opposition to it helped Democrats capture a congressional seat in a Republican stronghold in upstate New York in May.

But FreedomWorks, which helped found and shape the Tea Party movement, sees its campaign as the opening salvo in a long battle to secure a place for the Ryan plan in the 2012 debate and the legislative session that will begin in January 2013".

MayBee

Is there a new meme developing on the left?

There is someone on Political Punch arguing that the Irish Potato Famine is an example of a free market economy, and thus we can't trust free markets.

Is it just her,or is someone out there trying to sell that storyline?

Ben Franklin

holy moly what an idjit..

Neo

Later that day, the four leaders [Boehner, McConnell, Pelosi, Reid] met with Obama at the White House. At one point, GOP officials said, the Democratic and Republican leaders asked Obama and his aides to leave the room to let them negotiate.

A tentative deal was subsequently struck, but Obama privately threatened to veto it, the sources said.

Oh poor Barry. Left out of the negotiations.

Appalled

Ben:

No discussion on the budget is complete without dealing with entitlements in some fashion. It's a take-away, so such a discussion is going to be fraught with drama. But, while the Republicans have at least addressed some of the downside to their plans in their budgets, the Democrats play hide the ball. Obama promises he is not going to raise taxes on folks making less than $250,000. He does not get revenue to support entitlements even if he raises taxes on the rich by substantial amounts.

Ranger

Via Instapundit:

Morning Examiner: The Obamacare Straightjacket

The key 'graph:

Obamacare has completely trapped the Democrats on fiscal policy. In order to pay for Obamacare’s trillions of dollars in new spending, they had to raise taxes by $500 and raid Medicare by another $500 billion. As a result, all the low-hanging revenue and spending fruit are already gone. As even The Washington Post's Ezra Klein admits, the Democrats must now argue for higher taxes, and not just on the wealthy. In order to pay for all their entitlement programs, the middle class is going to have to pay more, too. But Ezra can admit this because he doesn’t have to win elections; Democrats in public offices do. That is the reason you haven’t seen a Democratic budget since Obamacare became law and it is the reason you will not see another one till at least 2013.

Ben Franklin

"your links and/or cut and pastes do nothing to prove your point ... they just serve to lecture us ... "

Jeff, if you and the rest of the posters here weren't so benightedly stupid then I wouldn't have to keep trying to teach you the basics.

When you show some signs of intelligence (by adopting my point of view), I'll stop lecturing you people. But until then you'll just have to put up with my wikipedian expertise. If you shut up and pay attention, you might learn something.

Ben Franklin

Is there a question in there, Appalled?

daddy

Currently drunk.

Situation normal, full speed ahead.

Current co-pilot is a distant but direct descendent of the great great uncle who had George Washington Carver's mom as a slave/housekeeper in days of yore. Very fascinating cat and very fascinating conversation.

Question evolved to: what should be done with the heirlooms he's eager to unload? George Washington Carver artifacts: (quilts, letters, utensils etc.)
Sent to Tuskeegee, or offered first to the Anchorage Museum?

Anybody have any opinions?


lyle

Leave it to Taranto to lead me to a new word, ressentiment. Top note perfect. Will have to work it into the lexicon of lyle.

Extraneus

That's a pretty sad excuse for a meme. The Irish Potato Famine was caused by a Europe-wide potato disease called potato blight, which affected Ireland most because they were most dependent on potatoes. As a result, 20-25% of their population fled Ireland, and many if not most of those immigrated to the freest market economy of the time.

link

Ben Franklin

Appalled; You might want to tell the lurkers that it is impolite to purloin a pseudonym then posting bogus comments under that name.

It could create an unsavory precedent, which titillates the morons, but disturbs the honest brokers who visit with regularity.

Bill in AZ sez it's time for Zero to resign

Rick: "Perhaps the slaughter of black babies for sport and political profit will diminish with Obama's exit?"

Every wannabe commie dictator leaves a trail of dead bodies behind, the more "successful" ones in the millions - just collateral damage on the way to a unicorns and rainbows utopia. Wonder if anyone is keeping score for the jugeared commie yet. Thousands of insignificant little brown people in Mexico, directly attributable to JEC and his thinktank of F'Ugly commies (Hillary, Soros, Ayers, Jarrett, et al) who came up with the brilliant GunWalker scheme to clamp down on our guns ("Things we're working on under the radar").

The idea that JEC and the American Commie Cabal could cynically allow thousands of Mexicans be killed to forward their commie agenda makes me sick. If Calderone wasn't such a limp dick, bowing and scraping before the American commie cabal, he would be just as sick and demand the entire administration be brought up on charges, or declare that a state of war exists.

Ignatz

--holy moly what an idjit.--

In reference to......?

Danube of Thought

He does not get revenue to support entitlements even if he raises taxes on the rich by substantial amounts.

And it's not even close.

There are two separate paths to preserving Medicare: structural changes such as increasing the eligibility age, and redistributive changes such as means testing and higher co-pays for the "rich."

That's the battleground. And it will be similar for SS.

Ben Franklin

dot; How about that voucher for Congress?

Captain Hate

President Barack Obama plans a bus tour of the Midwest the week of Aug. 15

Maybe he should drive it up to Wisconsin and get some ideas from Walker and then urge that they be adopted in the more recalcitrant states; like that's gonna happen::rolleyes:: At least that would keep him out of Ohio.

Danube of Thought

"Admirers of FDR credit his New Deal with restoring the American economy after the disastrous contraction of 1929—33. Truth to tell–as Powell [in "FDR's Folly"] demonstrates without a shadow of a doubt–the New Deal hampered recovery from the contraction, prolonged and added to unemployment, and set the stage for ever more intrusive and costly government."

–Milton Friedman, Nobel Laureate, Hoover Institution

Danube of Thought

More:

Two UCLA economists say they have figured out why the Great Depression dragged on for almost 15 years, and they blame a suspect previously thought to be beyond reproach: President Franklin D. Roosevelt.

After scrutinizing Roosevelt's record for four years, Harold L. Cole and Lee E. Ohanian conclude in a new study that New Deal policies signed into law 71 years ago thwarted economic recovery for seven long years.

"Why the Great Depression lasted so long has always been a great mystery, and because we never really knew the reason, we have always worried whether we would have another 10- to 15-year economic slump," said Ohanian, vice chair of UCLA's Department of Economics. "We found that a relapse isn't likely unless lawmakers gum up a recovery with ill-conceived stimulus policies."

In an article in the August issue of the Journal of Political Economy, Ohanian and Cole blame specific anti-competition and pro-labor measures that Roosevelt promoted and signed into law June 16, 1933.

"President Roosevelt believed that excessive competition was responsible for the Depression by reducing prices and wages, and by extension reducing employment and demand for goods and services," said Cole, also a UCLA professor of economics. "So he came up with a recovery package that would be unimaginable today, allowing businesses in every industry to collude without the threat of antitrust prosecution and workers to demand salaries about 25 percent above where they ought to have been, given market forces. The economy was poised for a beautiful recovery, but that recovery was stalled by these misguided policies."

Ben Franklin

Appalled;

Do you think the voucher for members of Congress might give them some credibility on 'shared sacrifice'?

Neo

"We have negotiated with terrorists," an angry Doyle said, according to sources in the room. "This small group of terrorists have made it impossible to spend any money."

Nobody expects the Potomac Inquisition !!

"Amongst our weaponry are such diverse elements as fear, surprise, ruthless efficiency, an almost fanatical devotion to the Pope Tea Party, and nice red uniforms—oh damn!"

Danube of Thought

How about that voucher for Congress?

A $7,000 voucher with which to purchase the type of medical insurance that each of them desires would be infinitely preferable.

Ben Franklin

–"the New Deal hampered recovery from the contraction,"

That is pretty mundane historical fact. The down-side is that many average folks had their landing softened, due to the many 'helps' programs contained in his New Deal.

The 'Hobbesian' approach is far superior..........

Ben Franklin

"A $7,000 voucher with which to purchase the type of medical insurance that each of them desires would be infinitely preferable."

Glad you like it.

Melinda Romanoff

DoT-

Hence, The Forgotten Man was written by Ms. Schlaes.

narciso

So, in other brilliant strategery news, the third or fourth front of the war, supporting
the Salafi, began this way:

But now, according to a report in the Saturday edition of Il Corriere della Sera, Prime Minister Silvio Berlusconi has confided to colleagues not only that he was opposed to the NATO intervention in Libya, but that he was pressured into making available Italian military capabilities by precisely the United States. According to the report, Berlusconi recalled that “at the time I had warned our international partners, and also at home I had explained that the operation would not be easy . . .” “But,” Berlusconi is reported to have continued, “in the face of the pressures exerted by the United States, the position of [Italian president Giorgio] Napolitano, and the vote [in favor of the intervention] by our parliament, what cou

Ben Franklin

Problem is, dot, the voucher proposed for Medicare is not insurance.

It is a direct-pay program which means Seniors can shop for their own insurance, but co-pays, deductibles, drugs, over the limit of their insurance will be paid by the patient, which averages over $10,000 per year.

A young Congresscritter probably could get a good insurance plan without those caveats, but it's a start on 'shared sacrifice"

Carol Herman

One thing about printing presses ...

You put ink in a container ... and you roll paper around a drum. Right there is a technique that requires headlines.

It doesn't work in reverse!

To sell the papers ... you needed to create headlines.

It's a business model that is failing because of the Internet. Where words drop into comments ... "from out'da space."

bgates

have made it impossible to spend any money

If that were true, I note that if we assume (per the CBO's famous static analysis) that federal revenue remained unchanged at approximately $2,173,700,000,000 and every penny went to retiring debt, we'd have the whole thing eliminated in seven years or so.

Ignatz

--The down-side is that many average folks had their landing softened, due to the many 'helps' programs contained in his New Deal.--

It wasn't softened in that they spent 7 or 8 extra years on the dole rather than employed, because the free market's relatively efficient clearing process was subverted and distorted by the Feds.
Just as important, it was up to the states not the Feds to decide what the dole was, which the SCOTUS originally understood, but it was soon brought to heel.

squaredance


Hoover’s every decision in fighting the Great Depression mirrored the sentiments of 1920s “business progressivism,” even as he understood intellectually that something more was required. Farsighted as he was compared with almost everyone else in public life, believing as much as he did in activist government, he still could not convince himself to take the next step and accept that the basic economic tenets he had believed in all his life were discredited; that something wholly new was required.

This "article" is utter hogwash--pure projection and propaganda. It is based on unfounded assumptions and substitutes psycho-babble for rational argumentation. One does not even have to know the actual historical facts of the matter to understand this. The first paragraph, which set up the whole basis of the writer's "augment", is chock full of fallacies, misdirectiona, unwarranted assumptions and outright lies.

One can say that is is merely Harpers but the fact is that we have put up with this sort of nonsense for far too long. It is because we have allowed just this vile sort of propaganda to settle so deep into our culture--and therefore our minds--that we now find ourselves in our current pickle. Here is the point: things have degenerated to the point where the WH, the Democrats, their Nomenklatura and their propaganda organs and political fronts open openly articulating in the mainstream the sort of Soviet Agitprop we heard in the 1920's and 1930's. This article is a case in point, even if it s just Harpers. They have managed to move the goalpost that far, and with hardly a peep out of most Americans. That this program has reached its peak at a time of our greatest power is no accident. This is radical stuff. It is the frontal assault of a long and considered battle plan.

Just let your mind wander back even a decade ago. Remember that extremely off-pitch electioneering rhetoric of Edwards? How bizarre his talk of the "two Americas" sounded? Well that sounds tame by today's rhetoric. Did you listen to Obama's last speech? It is just surreal hearing a POTUS talk like that. Yet he has a lot of takers. It is yet a matter of debate as to whether or not we are seeing the high tide of Communism in the USA at this point. We may well be seeing its ascent. The propaganda campaigns and the Direct political action campaigns will now wildly commence. We are in for quite a battle. The sort of blatant demonization of the Tea Party is the sort of thing that one saw in Nazi Germany or the USSR. Have we ever really seen something like this before? Soon your jaws will drop.

These people would destroy everything before they relinquish power.

As to Obama: he is trying to destroy America. He is not trying to "save" it, or rather, the people behind him are out to destroy it, and I think it is high time we realize that some of these people are foreign powers. We really must stop talking about "how inept" Obama is. Let us be clear about what is going on.

Here are some things to consider. !) We cannot now send men into space, 2) We are shutting down the Tevatron just as CERN is taking the lead in particle psychics (and this, in terms of the national budget is just a tiny cost, 3) The WOT has not only been entirely undone--and after all the sacrifice--but conditions have been radically worsened, and worsened to the degree that we may see some sort of patched together "Caliphate" arise in the ME in the next decade, 4) we can no longer manufacture incandescent light bulbs, and 5) it s now broadly considered a moral triumph that sodomites can "marry" and carry on openly in the USMC.

And just to make things clearer, here and here are some new "regulations" in the pipeline. This is just war against flyover country.

These people are monsters and they are out to destroy us--to not only impoverish us and enslave us, but to make sure that we never can find our way out of the humiliation, demoralization, desolation, destruction and ruin they force on us. They have a well planned agenda and are executing it well, and no, they are not being "stopped" by the GOP in the Hill.

Americans seem to be on the whole oblivious to what is really going on. Talk of how "inept" Obama is does not help matter much.

We appear to be so decadent that we runnig pell mell toward a collapse of not merely our nation but of our entire Civilization. Existential dangers of the most extreme sort will soon follow.

Yet Obama's "ratings" are still in the 40's. They should be an order of magnitude lower if the American people where actually competent and paying attention.

Ben Franklin

Appalled; You might want to tell the lurkers that it is impolite to purloin a pseudonym then posting bogus comments under that name.

Atheists like myself demand that people follow the rules.

Breaking the rules is what got my imaginary son killed in Iraq.

And then again in Afghanistan.

cathyf

We were actually heading towards a fairly reasonable voucher-ish Medicare with the medicare HMOs. They built off of the already-existing "medigap" insurance market, which had a pretty robust competitive marketplace going. It would have just naturally evolved into a systems where everybody had a real insurance policy, from a real insurance company, and there would be a means-tested premium subsidy. Those insurance companies would have to compete on price and quality to attract those customers who would be paying their own way, and the government's subsidy of Other People's Money would naturally be limited by the publicly-available prices negotiated by people spending their own money. (Kind of like how buyers and sellers of commodities piggy-back off of the commodities markets to know what prices to pay and charge.)

I have always maintained that the core social compact of social welfare programs is that people don't want others to suffer desperate poverty; a key tenet of that compact is that the welfare subsidies be limited to the poor.

Danube of Thought

I don't quite understand, BF--you say it's not for insurance, and in the next sentence you say it's for the purchase of insurance.

Medicare itself only pays 80%; the rest is up to the patient to pay (unless he has a supplemental insurance plan; mine costs about $2,000 per year). My Medicare premium $2,600 per year) is deducted from my Social Security; part of that is means-tested, i.e. it is based upon my income.

I do not know at present how much I payed into the system during my working life, but I had a number of years as a very high owner, so it was quite large.

Ben Franklin

All this BEFORE FDR................


1928

The construction boom is over.
Farmers' share of the national income has dropped from 15 to 9 percent since 1920.
Between May 1928 and September 1929, the average prices of stocks will rise 40 percent. Trading will mushroom from 2-3 million shares per day to over 5 million. The boom is largely artificial.

1929

Herbert Hoover becomes President. Hoover is a staunch individualist but not as committed to laissez-faire ideology as Coolidge.
More than half of all Americans are living below a minimum subsistence level.
Annual per-capita income is $750; for farm people, it is only $273.
Backlog of business inventories grows three times larger than the year before. Public consumption markedly down.
Freight carloads and manufacturing fall.
Automobile sales decline by a third in the nine months before the crash.
Construction down $2 billion since 1926.
Recession begins in August, two months before the stock market crash. During this two month period, production will decline at an annual rate of 20 percent, wholesale prices at 7.5 percent, and personal income at 5 percent.
Stock market crash begins October 24. Investors call October 29 "Black Tuesday." Losses for the month will total $16 billion, an astronomical sum in those days.
Congress passes Agricultural Marketing Act to support farmers until they can get back on their feet.

1930
By February, the Federal Reserve has cut the prime interest rate from 6 to 4 percent. Expands the money supply with a major purchase of U.S. securities. However, for the next year and a half, the Fed will add very little money to the shrinking economy. (At no time will it actually pull money out of the system.) Treasury Secretary Andrew Mellon announces that the Fed will stand by as the market works itself out: "Liquidate labor, liquidate stocks, liquidate real estate… values will be adjusted, and enterprising people will pick up the wreck from less-competent people." (More)
The Smoot-Hawley Tariff passes on June 17. With imports forming only 6 percent of the GNP, the 40 percent tariffs work out to an effective tax of only 2.4 percent per citizen. Even this is compensated for by the fact that American businesses are no longer investing in Europe, but keeping their money stateside. The consensus of modern economists is that the tariff made only a minor contribution to the Great Depression in the U.S., but a major one in Europe. (More)
The first bank panic occurs later this year; a public run on banks results in a wave of bankruptcies. Bank failures and deposit losses are responsible for the contracting money supply.
Supreme Court rules that the monopoly U.S. Steel does not violate anti-trust laws as long as competition exists, no matter how negligible.
Democrats gain in Congressional elections, but still do not have a majority.
The GNP falls 9.4 percent from the year before. The unemployment rate climbs from 3.2 to 8.7 percent.

1931
No major legislation is passed addressing the Depression.
A second banking panic occurs in the spring.
The GNP falls another 8.5 percent; unemployment rises to 15.9 percent
.
1932
This and the next year are the worst years of the Great Depression. For 1932, GNP falls a record 13.4 percent; unemployment rises to 23.6 percent.
Industrial stocks have lost 80 percent of their value since 1930.
10,000 banks have failed since 1929, or 40 percent of the 1929 total.
About $2 billion in deposits have been lost since 1929.
Money supply has contracted 31 percent since 1929.
GNP has also fallen 31 percent since 1929.
Over 13 million Americans have lost their jobs since 1929.
Capital growth investments have dropped from $16.2 billion to 1/3 of one billion since 1929.
Farm prices have fallen 53 percent since 1929.
International trade has fallen by two-thirds since 1929.
The Fed makes its first major expansion of the money supply since February 1930.
Congress creates the Reconstruction Finance Corporation. (More)
Congress passes the Federal Home Loan Bank Act and the Glass-Steagall Act of 1932. (More)
Top tax rate is raised from 25 to 63 percent.
Popular opinion considers Hoover's measures too little too late. Franklin Roosevelt easily defeats Hoover in the fall election. Democrats win control of Congress.

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