Politics

Reports of the economy’s demise are premature, but not by much.

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UPDATE: The publication of this column by Amity Schlaes adds a bit of prophecy to my concerns expressed here.

Will 2013 be 1937? This is the question many analysts are posing as the stock market has dropped after the U.S. election. On Nov. 16, they noted that industrial production, a crucial figure, dropped as well.

In this case, “1937” means a market drop similar to the one after the re-election of another Democratic president, Franklin D. Roosevelt, in 1936.

If I could be more worried about the future, this column might do it. Read it.

Russ Douthat’s column in the NY Times today points out a few problems with the left’s gloating about winning the election. I apologize for my pessimism but I can’t help looking at the facts beneath the surface.

The first comment beneath this article confirms my belief that the left ignores economics and is solely concerned about social issues and “stuff.”

The ideas that Republicans championed in the last election could have easily been heard at a segregated lunch counter in the ’50s. Suspicion about immigrants, fears about socialism, the subservience of women, back-of-the-bus-style racism, and disgust at the very thought of homosexuals were cornerstones of the Republican ethos. If there was an underlying wholesomeness in their belief in God, family, and tradition, I couldn’t detect it over the din of hateful, destructive rhetoric aimed at the majority of ordinary Americans.

The re-election of Barack Obama has ended the possibility of a serious effort to deal with out of control spending and debt in this country. The “fiscal cliff” is coming soon and there is speculation that one side or the other will “cave” in negotiations. It doesn’t really matter as no serious proposal is under consideration. The tax rates on the top 2% of incomes don’t matter. It’s not worth the trouble for Republicans to defend these tax rates for a group that may not even vote for them.

The whole world cartel of spending is coming to an end and it may not just involve national bankruptcy. It may be the end of an era, maybe of democracy which seems to be incapable of managing debt. An article in Der Spiegel sounds to me like a prediction of the future.

In the midst of this confusing crisis, which has already lasted more than five years, former German Chancellor Helmut Schmidt addressed the question of who had “gotten almost the entire world into so much trouble.” The longer the search for answers lasted, the more disconcerting the questions arising from the answers became. Is it possible that we are not experiencing a crisis, but rather a transformation of our economic system that feels like an unending crisis, and that waiting for it to end is hopeless? Is it possible that we are waiting for the world to conform to our worldview once again, but that it would be smarter to adjust our worldview to conform to the world? Is it possible that financial markets will never become servants of the markets for goods again? Is it possible that Western countries can no longer get rid of their debt, because democracies can’t manage money? And is it possible that even Helmut Schmidt ought to be saying to himself: I too am responsible for getting the world into a fix?

The answer will not be pleasant to consider. We may have run the course on modern national financial competence. Japan, twenty years ago, was a warning we did not heed. Stimulus, as in spending billions on infrastructure, did not work. Japan had a real estate bubble and the response was to try to reflate the bubble. It failed.

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Do the rich vote Republican ?

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The question about who the rich vote for is a serious one as we head for the “fiscal cliff” next year. The Republican Party has been defending the “top 2% of income groups” that Obama wants to exclude from the extension of current income tax rates. The argument is that this group, with incomes above $200,000 for individuals and above $250,000 per year for couples, includes small business owners who create most of the jobs in this country. This is probably true and the small business owners are a reliably Republican group of voters. What about the really rich ? The group whose taxes Obama wants to raise is really mostly the upper middle class. The inflation of the 1970s, and the coming inflation which will be the only result of Obama’s “budgets,” changes the income levels that determine the middle class.

Recently, there has been some discussion of the voting patterns of the “rich” and whether the Republicans are really defending Republican voters and what are the voting patterns of the rich. Bill Kristol recently wrote that the Republicans may be courting disaster by risking a trip over the fiscal cliff defending people who are not Republican voters. Data on this last election is still thin but there are a few bits of information available.

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Why did Romney lose ?

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I swear this will end my ruminations about the election.

Accounts from the Romney camp have described him as “shellshocked” by his loss. The enthusiasm and huge turnout for rallies must have given him a sense of victory but it was snatched away by Obama’s professional organization. The Huffington Post is not exactly a source of wisdom on this topic but it is useful to see what the left believes. There is, of course, a lot of nasty comments following that article but I don’t believe they have seen the truth.

Peggy Noonan seems to think she knows the answer and maybe she has a piece of it.

Mitt Romney’s assumed base did not fully emerge, or rather emerged as smaller than it used to be. He appears to have received fewer votes than John McCain. The last rallies of his campaign neither signaled nor reflected a Republican resurgence. Mr Romney’s air of peaceful dynamism was the product of a false optimism that, in the closing days, buoyed some conservatives and swept some Republicans. While GOP voters were proud to assert their support with lawn signs, Democratic professionals were quietly organizing, data mining and turning out the vote. Their effort was a bit of a masterpiece; it will likely change national politics forever. Mr. Obama was perhaps not joyless but dogged, determined, and tired.

OK but why ?

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Waiting for tonight

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My typing may be a bit off today as my dog bit me last night. It was partially my fault because he snapped at me as I was taking off his leash and I smacked him in the nose. He was faster than I was and bit my hand. Bassett hounds are supposed to be mellow but I got the one exception.

I voted a week ago by absentee so that is done. California has a bunch of state propositions and I voted no on all of them except 32, which would constrain union fund raising, but it will probably lose. I was disappointed to see NRO come out against it because of some footling concern about something. I have been disappointed by NRO several times this year, first when they fired John Derbyshire. His writing is funny and wise at the same time. You probably all know the story of the dispute, in which I believe that Derb was completely correct.

We also have this small matter of a presidential election today.

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The Benghazi mess and its consequences

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UPDATE: There is now a report that General Ham is stating that they had forces ready but were never ordered to go to the assistance of the besieged US officers in Benghazi

UPDATE #2- From Captain’s Journal, another blog, comes this:

First of all, recall that General Rodriguez is the one whom I called out almost five years ago for spewing the silly propaganda that the Taliban were too weakened to launch a spring offensive, and also the one who wanted to micromanage a Marine Air Ground Task Force in the Helmand Province of Afghanistan. Less than six hours before Marines commenced a major helicopter-borne assault in the town of Marjah, Rodriguez’s headquarters issued an order requiring that his operations center clear any airstrike that was on a housing compound in the area but not sought in self-defense. This is rules of engagement of the flavor Rodriguez.

If General Rodriguez is in fact taking over the Africa command, I’m not impressed with Panetta’s decision. Then again, I think Panetta is a weasel and his excuse-making cowardly, so I’m not surprised by the decision.

I would advise anyone who is puzzled by the conflicting stories to read, Dakota Meyers book, “Into the Fire.”

General Ham appears to have broken with that story and is taking no responsibility for the decision not to bail out the consulate and the Navy SEALS. There have been rumors that General Ham has been fired or forced out. There is no way to confirm them at this point until they come from more reliable sources.

There are now strong indications he was fired. The deputy who “apprehended ” him is his successor. This suggests the path to command in Obama’s army.

More on General Ham. This might suggest why he was unwilling to leave the US contractors to their fate.

During his time in Iraq General Ham suffered Posttraumatic stress disorder, caused from attending the aftermath of a suicide bombing. He didn’t want another such scene on his conscience.

UPDATE #3-An explanation for the failure of more disclosure in the Benghazi scandal was presented today (10/29) in an article in the Washington Times.
Bloomberg News reported on October 17 that Attorney General Eric Holder “prosecuted more government officials for alleged leaks under the World War I-era Espionage Act than all his predecessors combined, including law-and-order Republicans John Mitchell, Edwin Meese and John Ashcroft.”

“There’s a problem with prosecutions that don’t distinguish between bad people — people who spy for other governments, people who sell secrets for money — and people who are accused of having conversations and discussions,” said Abbe Lowell, attorney for Stephen J. Kim, an intelligence analyst charged under the Act, to Bloomberg News.

The Espionage Act, bans unlawful disclosure of national security information to individuals not authorized to get it. The act was signed by President Woodrow Wilson in 1917 and has been used to prosecute double agents like Aldrich Ames and Robert Hanssen.

Bloomberg News cites the particular case of Stephen J. Kim, an intelligence analyst who was charged under the act. He worked as a contract analyst specializing in North Korea. Kim was questioned by law enforcement officials in September of 2009 after making contact with Fox News reporter Jim Rosen about North Korea’s nuclear weapon’s program. Eleven months later he was indicted by a grand jury for revealing classified information and making false statements

Obama is prosecuting intelligence people who leak to news organizations. Whistleblowers, in other words. Leftist outlets are already attacking Fox News as disclosing top secret information.

With all of this in mind, do not be surprised if a flood of individuals who have pertinent information begin to step up to the plate and talk about what happened on September 11, 2012 if Mitt Romney wins the presidency.

There is a growing body of information about what happened in Benghazi but it has not appeared in the major media thus far. The NY Times and Washington Post seem to be covering for Obama by completely ignoring this story. Most of those who follow current events on the internet rather than in big city newspapers or television “news” are aware of most of the details.

On September 11, 2012 the US consulate in Benghazi, Libya was attacked at approximately 9:40 PM local time by a large number of heavily armed terrorists. The US ambassador was present and had bid goodnight to the Turkish ambassador at about 8 PM local time. Washington DC is 6 hours west of Benghazi so the attack came at 3:40 PM Washington time.

Here is a timeline of the attack.

There was no demonstration in front of the consulate that night. In spite of this fact, quickly apparent to the State Department which was in contact with the personnel at the consulate and the CIA “annex” that night from the first shots fired, the Obama administration, including Hillary Clinton the Secretary of State, proposed a story about demonstrations in response to “an anti-Muslim video” that was in fact a You Tube video which was 14 minutes long. The creator of this video, an Egyptian Coptic Christian living in Los Angeles, was arrested on dubious grounds of a “probation violation” and the arrest was widely publicized by the administration. His initial court date is scheduled for AFTER the election.

On Sunday September 16, 5 days after the attack, UN Ambassador Susan Rice appeared on five Sunday news programs to repeat the administration’s story.

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