Your Lying Eyes

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12 September 2012

When You Can't Say "I told you so"

With the recent chaos in Egypt and Libya, I imagine Mitt Romney would love to get up on a podium and proclaim "I told you this would happen. I warned America that the Obama administration's interventionist policies in the Mid East would only lead to disaster..." But of course he can't because he did no such thing - in fact, he has only criticized Obama for not being interventionist enough, for being too timid about overthrowing our friends and ushering in "democracy." So what's he supposed to do now - how can he attempt to take advantage of this obvious opening? He can't, really, except to sputter about whether or not Obama apologized.

And is Romney still actually running for president? It's hard to tell - he seems unable to come up with a single argument to actually convince anyone why he'd be a better president than Obama, other than his own mega-competence, which seems to get undermined at every turn in this campaign. I think, in his own mind, he's pretty much done with the campaign, and is now just hoping that various financial, diplomatic, or domestic meltdowns pave his way into the Rose Garden. Because right now, he's making Bob Dole look like Harry Truman.

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2 Comments:

Blogger Tertius Lydgate said...

If you examine it closely, Tax payer/Federal government profit is an even more confusing concept, perhaps an oxymoron.

The more government spends - taxes collected, the greater the financial savings of the private sector is, so you could just as easily name it "private sector loss" driven by government revenu increasing. After all, I doubt anyone will see a tax decrease in response to this news.

In a broader sense, you have to look at the real vs., nominal consequences. The money spent on bailing out AIG et. al. was, of course, all nominal -- numbers marked up in a spreadsheet.

To access the real profit or loss effects of the government action, you have to compare the potential real consequences of complete economic disintegration faced in 2008 -- as AIG threatened to bring down numerous (a majority?) of US financial institutions -- with the real costs we face now: those same institutions that dramatically failed the free-market test are still consuming real resources, likely still inefficiently, with no threat of market failure due to a government backstop.

In contrast to the financial sector, many in the bubble driven real estate sector have been forced to find new jobs.

September 19, 2012 9:12 PM  
Blogger ziel said...

Oops - looks like you commented on the wrong post. No matter. I'll copy it to the other one.

September 19, 2012 9:40 PM  

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