Monday, November 8, 2010

President Obama's Humiliating Defeat

Robert Freeman says "he has to face two years of humiliation knowing that he betrayed the people and the country he claimed to champion - and knowing that everyone else knows it as well - but also knowing that he's gotten what's coming to him" — Obama Was Used, And Is Now Used Up. Mr. Freeman says that the "deal to get the job in the first place... was that he would carry on with Bush's bailout of the banks, with Bush's two wars, with Bush's suppression of civil liberties, that he wouldn't prosecute or even investigate any of the enormous fraud that had brought down the country, or the lies that had railroaded it into war."

Singling out the fact that "the Federal Reserve has taken control of the nation's economic policy," Mr. Freeman continues, "Its new policy of 'quantitative easing' (printing money) is not only despicable in its own right, the recourse of scoundrels and national failures (think Weimar Germany in the 1920s), it is completely undemocratic, carried out in secret by the most notoriously elitist, private institution in America. It is a capitulation to a self-anointed feudal-like autocracy without modern equal, an undisguised admission that it is the banks and their owners that run the country. And it is the inescapable result of Obama's policies."

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Blogger Mark in Spokane said...

Very interesting. One of the remarkable aspects of the Obama administration is how strongly it stands in continuity with many of the Bush administration's policies. Particularly in regard to foreign policy as far as the wars go, but also in regard to the bailout economic program that has characterized the last few years of American economic life.

Of course, some type of central bank is necessary in a modern economy. The problem with the Fed is that, unlike the wise policies of Alexander Hamilton and Henry Clay regarding a national bank, the Fed stands outside of the normal mechanisms of governmental responsibility. Hamilton and Clay wanted the national bank to be under federal control precisely so Congress and the executive would be able to hold it accountable. Under our current system, the Fed is really accountable to no one...

2:51 AM  
Blogger The Western Confucian said...

All politics these days is indentity politics. Obama supporters like their man because they see themselves as hip and urbane as he, just as Bush supporters liked their man because they saw themselves equally down-home and all-American. So, people vote not on issues, but rather on whether they drink canned beer or white wine, or are entertained by NASCAR or Coen Brothers' movies.

The real powers-that-be couldn't care less about abortion, sodomy, religion, or any other issues that supposedly divide the blue states from the red states. Whoever wins, they still make their money. They are more than happy to have us fighting over what are ultimately non-issues, while on the real issues, finance and empire, there is broad bipartisan consensus.

The Left is right to speak about the "diversionary tactics" of the powers-that-be.

10:26 PM  

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