I recently paid a long-deferred visit to the Obanomics page at this world-historical man's site.
The preamble, as noted elsewhere, has its charm. If you happen to find yourself running a Cantonese takeout somewhere in the bowels of middle America, passing out bags of deep-fried death on the installment plan, it might read like notes from the sunny side of Dream Street.
“I believe that America's free market has been the engine of America's great progress. It's created a prosperity that is the envy of the world. It's led to a standard of living unmatched in history. And it has provided great rewards to the innovators and risk-takers who have made America a beacon for science, and technology, and discovery…We are all in this together. From CEOs to shareholders, from financiers to factory workers, we all have a stake in each other's success because the more Americans prosper, the more America prospers.”Then there's "Barack Obama's Plan to Jumpstart the Economy," which comes in four bullet points. Though it's aimed at the right sorta folks, and weighs in at $50 billion, its about twenty times too small to amount to a hope-tribe fulfillment:
- Provide Additional Tax Rebates to American Workers:. Stimulus: $20 billion.
- Establish a $10 billion Foreclosure Prevention Fund: Stimulus: $10 billion.
- Relief for State and Local Governments Hardest-Hit by the Housing Crisis: Stimulus: $10 billion.
- Extend and Expand Unemployment Insurance:. Stimulus: $10 billion.
"Obama believes that trade with foreign nations should strengthen the American economy and create more American jobs"How? Not by busting the oiler/Asian forex cartel, that's for sure. Instead, "He will stand firm against agreements that undermine our economic security.... use trade agreements to spread good labor and environmental standards around the world..." Since he knows that's a paper-tiger move, he'll also "update the existing system of Trade Adjustment Assistance." Bigger, better collision mats.
Oh, he's gonna create 5 million new clean and green jobs in "manufacturing" -- where we need prolly 15 million just as a starter.
Crumbling infrastructure? He's going to out-Hoover Herbert himself. He'll "create a national infrastructure reinvestment bank" -- that is, he'll add another potential crumbling financial institution -- another Freddie or Fannie -- to infuse funds into our great national transportation rebuild. At what rate, you ask? $6 billion a year. That won't even pay for the orange cones on the interstate.
Oh it goes on. Jobs get created, like gamma babies in Huxley world. It's gonna rain jobs, folks, rain 'em -- good ones, high-pay secure ones, fulfilling ones!
Speaking of incubators: how's this sound, Mr and Ms Startup: "a National Network of Public-Private Business Incubators". Okay, not for take-out joints but -- you got a breakthrough product up your sleeve?
Labor?
"Obama will strengthen the ability of workers to organize unions. He will fight for passage of the Employee Free Choice Act. Obama will ensure that his labor appointees support workers' rights and will work to ban the permanent replacement of striking workers. Obama will also increase the minimum wage and index it to inflation to ensure it rises every year."
Good luck, Babar.
The hits just keep on coming:
- "Obama will crack down on fraudulent brokers and lenders"
- "Address Predatory Credit Card Practices"
- "establish a five-star rating system"
- "Reform Bankruptcy Laws" (A final right cross to the chin of Mr Potters everywhere?)
- "Consolidate... the American family"
- "High-Quality Afterschool Opportunities -- "
Comments (8)
Am I misconstruing you, op, in thinking your primary objection to most of these Obama policies are insufficient rather than necessarily the wrong thing? I just don't understand anything about economics.
We are all in this together. From CEOs to shareholders, from financiers to factory workers, we all have a stake in each other's success because the more Americans prosper, the more America prospers.
Does this mean that a rising tide lifts all boats?
Posted by StO | August 4, 2008 8:04 PM
Posted on August 4, 2008 20:04
We're all in this together means war crimes and crimes against humanity aided and abetted by his donors will not be prosecuted.
Posted by Jay Taber | August 4, 2008 8:52 PM
Posted on August 4, 2008 20:52
sto:
"Am I misconstruing you, op, in thinking your primary objection to most of these Obama policies are insufficient rather than necessarily the wrong thing?"
i'd settle for his fiscal moves...
if their dollar amounts
were
multiplied by 10
but on trade policy
he shows me no
clear attack on our industry killing
exchange rate dollar peg partners
in asia and the persian gulf
okay so he ought not name names
after all its rude
but i'd like at least to see
something buzzy and vague like
" a full employment balanced trade dollar "
and
".. put an end to unbalancing and unfair
currency mnipulation "
Posted by op | August 4, 2008 9:44 PM
Posted on August 4, 2008 21:44
a rising tide lifts all ...gun boats
Posted by op | August 4, 2008 9:45 PM
Posted on August 4, 2008 21:45
"From CEOs to shareholders" -- now there's a capacious view of "our" democracy for you!
Jesus H. Crackers, this is a great find OP. Is this really what this Neo-Gipper is saying? Shit on a shingle!
And did y'all notice that the next line of econo-citizens includes "financiers"?
So 3/4 of the man's categorical concerns are for CEOs, shareholders, and financiers...
Nuff said... x 10 ....
Posted by Michael Dawson | August 5, 2008 2:22 AM
Posted on August 5, 2008 02:22
"He'll "create a national infrastructure reinvestment bank" -- that is, he'll add another potential crumbling financial institution -- another Freddie or Fannie -- to infuse funds into our great national transportation rebuild. At what rate, you ask? $6 billion a year. "
I just watched episode four of Australias The Hollowmen. The plot is the government has a surplus and doesn't know what to do with it. First they come up with "whistle factor" numbers, when a number gets high enough people whistle. Then they need to create a vague enough term to sit as a centerpiece of the budget announcement. It turns out to be "future proofing". They futureproof by creating a fund to reinvest in Australia.
The Hollowmen is possibly the best example of how government really works.
Take the time and download, cough, cough, bittorrent, all four episodes.
Very insightful.
Posted by Mike Hunt | August 5, 2008 6:43 AM
Posted on August 5, 2008 06:43
"-- that is, he'll add another potential crumbling financial institution -- another Freddie or Fannie ---"
i should have avoided that phoney parallel
between pub sec physical infrastructure
and pub sec credit infrastructure
just like the absolutuely mindless use of crumbling every time there's a reference to our bridges and tunnels like old with fogey
actually our public credit system
---including GSEs like f and f ---
could be "repaired"
--in fact super charged ---
for almost nothing
f and f are "strong like bull "
even if the ferdinand act
created by and for their thin veneer
of private equity suggests otherwise...
oh well ...
ahhh yes
note the notion
of an equity hair cut
not quite enough hazard prevention in that by my lights
for these leveraged limited liability
looters of renown
i suggest we burn the equity off these GSEs
and while we're at it burn off the equity
in the hedge funds too and the investment bankers and the ....
there is no infrastructure of credit
only a bunch of ass hole innocent debters
and a few bully creditors
torch the bastards
declare a mortgage payment holiday
let the social security system
take em all over ...yup in toto
set up personal accounts for everyone
you know ... "future proof " our retirement systm
our social CAPITAL our ....ehhhhm
Posted by op | August 5, 2008 7:35 AM
Posted on August 5, 2008 07:35
You want economic stimulus, depression, key word. We can only go up from there. Little Shays rebels like in Charles Bronsons 'Death Wish III. He took the meanest ghetto in the US and had them all working as firefighters and laborers cleaning up his mess hailing him at the end. Vote for Booomer I say. Shitty underfunded plans that are as hopless as the employees at Taco Bell. Thats how my home land RI always works. The state promises jobs, buy personnal franchises and train them on the sour cream guns. And it keeps the FBI busy too. In short, Gotham City and a middle eastern black batman snacking on gorditas in the same car Isacc Hays had in Escape from NY.
Posted by Son of Uncle Sam | August 6, 2008 12:37 PM
Posted on August 6, 2008 12:37