Fiddling with the economy while Rome burns
As Obama campaigns for his various economic recovery plans, he doesn’t seem to realize that people have smelled leadership failure already and voted with their money; they’re selling off everything related to the financial systems he’s trying to preserve in the hard-to-dispute belief that he’s going to bankrupt them in spite of anything else he might say or believe. It’s as if all the man knows how to do is campaign and he and his team are unable to shift into real “here’s the plan let’s make it work” leadership.
For all the leadership failures of the Bush team, the new order formed from the “anyone but Bush” camp seems unable to actually look forward and lead.
By focusing on keeping people with unsustainable credit problems in their mortgages, he’s effectively offering more painkillers to a patient that’s in cardiac arrest from overdosing on them in the first place.
Encouraging zombie home-ownership won’t give us non-zombie banks.
Is it any wonder entrepreneurs and investors are worried about an Atlas Shrugged scenario and holding off on action and investment while the rules keep changing? I defy anyone to find one truly stimulative action in his plan, one action that communicates to someone ready to put time and money at risk that in some measurable way incentivizes the kind of entrepreneurial risk taking that powered us through the 80s and 90s after the last economic disaster brought on by government fiddling in the 70s.
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