Thursday, April 2, 2009

Dumbest Thing I Have Heard in My Life - We Are Doomed

I have not seen the exact quote in press yet but Obama in a Q&A session said he is "putting an end to the cyclical boom bust cycle of our economy with unprecedented regulatory reform." WHAT????? I am going to go off for a second. Our problem currently is that we have not let the destruction side of the coin in capitalism to work. Capitalism works based on production and destruction. You have to have destruction!!! Lehman Brothers should have been destroyed in 1998 with LTCM. You know how much better our world would be currently if that would have occurred? It would have killed the equity bubble, ushered in a normal recession, and killed what we are facing today. So basically what Obama is saying is no more capitalism for the United States. In comes socialism / communism until that system breaks down. Ask Russia how it worked. You can't eliminate cycles. It is impossible. At best you can push cycles off until it gets to big to push and then you implode. I thought one of Obama's strong points was his IQ. I was no fan of George Bush but at least I didn't ever him uttering something that stupid. As a nation we just must be cursed for horrific leadership. Actually it is our process of selecting leaders. A popularity contest which is why our nation was never meant to be a democracy but a republic. Ask France how there democratic history has treated them. Okay done with my soap box but still shaking my head in horror.


Justin said...

"I was no fan of George Bush but at least I didn't ever him uttering something that stupid."

Well actually I can direct you to scores of websites that list the endless number of stupid things Bush said in his time :-)

some of my favorites:

"Amigo! Amigo!" --George W. Bush, calling out to Italian Prime Minister Silvio Berlusconi in Spanish at the G-8 Summit, Rusutsu, Japan, July 10, 2008

"Rarely is the questioned asked: Is our children learning?" —Florence, S.C., Jan. 11, 2000

and the best:

"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again." —Nashville, Tenn., Sept. 17, 2002

Though, to be serious, it is a lame thing of Obama to say.

It's more of the waffle which passes for intellectual discourse these days. But in a world dominated by the 3-second soundbite it's about as deep a comment as you get in public from any politician.

I'm sure if you took Obama aside in private and aksed him to explain he would confess he just said it so that he had something to say. You can no more stop economic cycles than you can stop the tides.

Market Seer said...

Ha - well I recently saw the clip from Nashville Tenn. I about fell over laughing. At least he could have tried to be funny and say, well now the quote on foolishness just fooled my mind instead of acting all serious like he really got it right.

I hope your right. I hope it was just a "waffle passing for intellectual discourse." His actions recently make me question that assumption. I am not speaking for Obama but he would not be the first one who believed you can stop economic cycles. It is the heart of socialism and what was Russian communism. The heart of Karl Marx philosophy. That people should all have the same stuff, be on the same level, and the all knowing government will move resources (since the government is all knowing) around to prevent the boom and bust cycles (majorly simplyifing obviously). As I said in my post, the best you can do is put off the busts making the end bust that much more catastrophic and system ending.

I don't know what Obama really thinks. Over time he is writing his own story but he can't make to many statements like that without raising some serious eyebrows especially the leader of the must successful econonmy/country in history in front of a group of world leaders, many of whom actually do believe that without a doubt.