Party Like It’s 1979
What Ronald Reagan gave us in economic opportunity has now been beaten to a pulp by a slow and relentless assault from the Democratic Party. I’ll leave conspiracy theories to others, but, at every opportunity, what Reagan gave us by low taxes and regulation has been eaten away by new spending, higher taxes and more regulation. It has been a program to eliminate the prosperity of the private sector in order to force more and more people to depend on the government for their material well-being. Dostoevsky said that money is coined liberty; this concept the Democrats well appreciate and despise.
The first big issue was energy. In fact this issue was dragging on the economy even before the sub-prime mortgage crisis really hit. There has been a systematic policy to prevent bringing new domestic energy sources on line for the last 30 years. It just isn’t oil exploration. It’s nuclear power as well. And, while the GOP has pandered to the NIMBY’s and otherwise tried to pose as “green,” much of the high prices for energy are based on demand far outstripping supply. That, in turn, was due to stopping the development of oil shale, off-shore drilling, ANWR, and nuclear power by the Democrats and their fellow travelers in the environmental movement.
Then we layer on the interlocking corruption of the Democrats, the Community Reinvestment Act, ACORN, Freddie and Fannie. The free market fundamentals were just fine. It was the enormous intrusion of governmental corruption that is tanking the economy.
Finally, we have the same corrupt players from the Democratic party now set to greatly expand their power by taking the White House and expanding their power on Capitol Hill. Such a power grab only points to a high tax, high spending and high regulation environment that the markets are now violently discounting.
These asinine economic and energy policies are layering on in ever quickening succession and have managed to destroy the last 30 years of economic growth in the last three weeks.
We haven’t even started on a foreign policy that may very well give us a nuclear Iran and a nuclear arms race in the Persian Gulf. There to will be imposed a stiff price; this in treasure and in blood.
Welcome to 1979. Welcome to double digit inflation and unemployment. Welcome to stagflation. Say hello to bracket creep. The “hollow” military is just around the corner. I can only shake my head at the brave servicemen who will die in another Desert One debacle. I would hazard to guess that most people under the age of 50 probably would give you a blank stare at any of these terms.
So, since 1980, America has been trending from red to blue. The trend happened for a reason. Life got too good and too soft. A whole generation of Americans have literally grown up without knowing what war really is; like 22,000 soldiers dead in a single day at Anteitam. A whole generation has grown up knowing nothing but economic prosperity. So, prosperous if fact, we thought we could give away free houses courtesy Fannie Mae and Freddie Mac.
This bill for this corruption will have to be paid. All the bailout package did was start to give us a rough idea as to the true cost of this corruption. Obama, as the first UN Secretary General to occupy the Oval Office will have some choices. If he chooses to run this recession/depression as a Chicago-style patronage fiefdom, his legacy as the second black president (Clinton was first) will change to that of Barak Hoover.
If he’s as smart as he’s cracked up to be, Obama will realize that the only way out of this mess is to promote economic and fiscal policies that promote growth. That means he’s going to have to throw Reid, Pelosi, Ayers, Wright and Rezko out the door, dust off his ouija board and start channeling Ronald Reagan.