Friday, December 14, 2007

Here's What To Expect In 2008

The domestic economy is crumbling and blame will be allocated by the high priests of socialism.

Already, pundits have noticed that Big Media has forgotten about "Iraq". Whether that is because the "surge is working" or not is wholly unquantifiable and, also, quite beside the point.

Iraq has been brushed aside by better competition. A poor economy is THE socialist dream. High gas prices, foreclosures, inflation are all upon us...all they need now is a healthy dose of unemployment.

It hasn't taken hold yet (mostly because of their profound economic illiteracy) but it won't be long before the New York Times is painting the Bush Administration as "economic liars". They will deride the "Bush boom". All the increased tax revenues of the past few years will be chopped up to a "bubble", "predatory and fraudulent mortgages", and "lying government statistics" on inflation and GDP growth.

This post I did last month on the Lying CPI would, if his foes weren't so ignorant, be Bush-bashing gold. In that post, I detail how the government's underreporting of inflation is used to exaggerate headline GDP numbers. It won't really matter that the CPI is now computed by Bill Clinton's fungible formula. What matters are soundbites for the lumpen masses.

The prescribed solutions will, of course, be higher taxes and more regulation.

It will be interesting to see how the next cycle of agitprop plays out both politically and in the public dialogue. Though I believe it will have the fertile context of a recession and I consider the public profoundly econo-illiterate, I do think that Americans can at least sense a huckster. Again, these socialists are so stupid, and so inept, that they don't even propound their own best arguments.

Heck, they are so dumb, they turn the potent, combustible issue of high oil prices into calls for fighting "global warming".

I submit that while Joe Blow may not have a degree from Harvard, he's quite cynical about how politicizing the weather will lower pump prices.


Anonymous said...

Basic Economics: A Citizen's Guide to the Economy, by Thomas Sowell should be required reading for all

CaptiousNut said...

Yeah, I have only read a few articles by Mr. Sowell. But he's clearly one of the few out there that "get it".