Posted on 09/17/2011 11:09:31 PM PDT by Clairity
The bankruptcy of solar-panel maker Solyndra neatly encapsulates the economic, political and intellectual bankruptcy of Barack Obama's Big Idea. It was the president's intention back in 2009 to begin centrally reorganizing the U.S. economy around the supposed climate-change crisis.
To what end? Well, Obama claimed his election would mark "the moment when the rise of the oceans began to slow and our planet began to heal." But that was just the cover story. At its core, Obamanomics is about the top-down redistribution of wealth and income. Government spending on various "green" subsidies and programs, along with a cap-and-trade system to limit carbon emissions, would enrich key Democrat constituencies: lawyers, public sector unions, academia and non-profits.
And Obama almost pulled it off. The Great Recession conveniently allowed the president to start the spendathon under the guise of economic stimulus. ("You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before." - White House Chief of Staff Rahm Emanuel, 2009).
(Excerpt) Read more at blogs.reuters.com ...
Obamanomics = another failed investment.
A good article worth the click. That said, the much tossed about phrase “crony capitalism” making the rounds is nothing more than good old fashioned fascism, once you strip away the fluff.
A great replay on C-Span tonight with Amy Harder of National Journal. Very pointed questions and somewhat honest answers concerning the upcoming hearings. She got cut off at the end-just when the meat of the subject became really raw.
I like Jimmy P. Listen to him frequently on Larry Kudlow on Saturdays.
Brilliant article.
later
Any point contemplating the illogical endpoint...
Thank you, I've been posting the same point for a couple of years and it's nice to see others understanding the underlying political ideology.
Obama, like Mussolini, may once have been a Socialist. But, if you compare ideologies side-by-side and list his unconventional tactical moves (those that he can get away with) by category, I think you'll find they fall in the "fascism" column.
Don't let it cloud your ideological analysis, but if you also want to consider Obama's arrogant, chin in the air poses, they certainly qualify for the "fascism" column.
...More than two years after President Obama took office vowing to banish “special interests” from his administration, nearly 200 of his biggest donors have landed plum government jobs and advisory posts, won federal contracts worth millions of dollars for their business interests or attended numerous elite White House meetings and social events, an investigation by iWatch New found
Good analysis.
Big centralized governments, by any name, by necessity must become repressive in order to survive.
I’m not used to seeing this sort of thing from Reuters. I guess their blogs aren’t as controlled as their “news” service.
You have a point, but fascism is one type of crony capitalism, which is a much broader term that merely refers to a capitalist system in which some individuals or firms are given an advantage over others due to their relationship with the rulers, the fact their business model is seen as being “green”, etc.
Since a 100% free market has never existed and will never exist, all actually existing market economies have existed somewhere on the crony capitalist scale.
A smart economist ought to be able to come up with a quantitative rating system whereby an economy can be rated from 0 to 100 on the Crony scale. This would be quite useful, as one could quickly demonstrate the inverse relationship between increasing Crony rating and economic performance.
I don’t understand why anybody is surprised when government “investments” fail. Venture capitalists, working with their own money and on purely economic principles, bat well under 500. When politicians make similar investments, most of their criteria for choosing a firm are political and have absolutely nothing to do with whether it is a good financial prospect or not. So they will obviously have a much higher failure rate. Luckily for them, they aren’t using their own money.
I have relatives who lived under communist rule in Hungary. Their experiences should clarify.
First, you are only a manager or executive level if you are a “party” member....which is a lot more than being a registered Democrat.....you have to pledge your life and family to the communist party.
Second, the wealthy party members can only start businesses if they have permission from the party. The party will back them and even force people to buy their products (sounds familiar?)
If you have the money to start a business that is not in accordance with party rules (try to be a capitalist that undermines state-run enterprises) then you will be found in the woods dead from suicide and multiple stab wounds in your back (sounds familiar?).
Fascism extends beyond the business world and so does Obama’s dream. He wants to control the news, your money and every aspect of your life.....just like the good old days under communism.
100% agree.
The word fascism has been tossed around too lightly for too long(same with the word socialism). People have heard it being used by one side against another in the world of political discourse.
But now, crony capitalism, corporatism, whatever now has a face. It's face is the bailouts, GE, Solyndra, ect ect.
The hurdle, which can be overcome, is to help average folks understand the difference between crony capitalism and free market capitalism
Politically-connected LightSquared pushes wireless Internet plan despite GPS concerns
... Obama supporters have held investments in the company and its affiliates during its tangled decade of existence. They include Obama’s good friend and political donor Donald Gips, his former White House personnel chief, who now serves as U.S. ambassador to South Africa. Records show that Gips maintained an interest, worth as much as $500,000, as the FCC was weighing LightSquared’s request.
For future use.
Thanks OP
Until now!
Hard to say
Obamanomics & logic do not belong in the same sentence.
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