Diary

The Ownership Society Becomes Obama's Collective Society

Jenn Rubin brings to my attention a curious comment by Barack Obama.

What I’m looking at is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing. And, you know, the stock market is sort of like a tracking poll in politics. You know, it bobs up and down day to day. And if you spend all your time worrying about that, then you’re probably going to get the long-term strategy wrong.

The problem, of course, is that Barack Obama is right. The Dow Jones is kind of like a tracking poll. And the trend downward is a vote of no confidence in Barack Obama’s economic proposals.

So many in the media are still harping on the “hoping Obama will fail” remark that they totally miss the point.

Yes, Barack Obama says his economic stimulus plan will stimulate the economy.

No, Barack Obama’s economic stimulus will not actually help the situation, but will make it worse. Even the Congressional Budget Office agrees.

So we must root for Obama to fail at implementing his agenda. Because if he is successful, the economic situation will only grow worse.

We have plenty of history to prove the point.

In the process, though, Obama is happy to enact policies that spook investors and crush the stock market because as he enacts policies to wipe out American wealth, the baby boomers just getting to retirement age will become more and more dependent on Barack Obama. That will cascade through the system until we’re all, by hook, crook, or necessity, on the government teet.

We must work to undermine Barack Obama’s efforts and his callous indifference to American investors, who are all of us in one way or another.