Posted by
rycK on Monday, January 25, 2010 10:58:04 AM
Frank
[the Crank] of the NYT Moans in Agony about the Massachusetts Massacre. The End
is in Sight.
Abstract: Frank Rich is nearly
hysterical as he gropes for reasons to show us that the loss of the revered
Kennedy seat is not Obama’s fault. The
Crank cranks out brats in all directions as he convinces himself that this
anti-liberal contagion will not spread beyond Massachusetts although he fails to
mention that this is strike three against the White House after Virginia and New Jersey. He sees Obama descending
into the political and economic maelstroms that consumed LBJ and Jimmy Carter.
Socialism is at stake here along with other phony debacles such as global
warming and ‘affordable housing.’ Rich grants and grabs all he can in an
episode of sound and fury signifying noting but terror for Democrats in
November. The economy sinks and Obama is stuck with the next economic dip and
the aftermath.
We are
always rewarded when we elect to study and digest the political facts as presented (and frequently
misrepresented) by Frank [the Crank] Rich of
the New York Times. Frank Rich is well known for his
unsurpassed facility to crank out sophomoric and keyhole dogmatic leftist brats
with sausage-machine precision even when they apply to nothing in particular, but
this one today is a big one for him and he shows off his skills. He is an
artist. Without exception, as always, we are compelled to read about how the
right wingers have bungled the job of government in the last few decades and
the valiant acts of self-denial and heroism by liberals have preserved our
freedoms. Something has changed here.
As we start
to peruse the instant egalitarian minutiae that define the latest political
proclamations from the New York Times—aka the Walter Duranty Papers,
we sometimes are treated to a tirade-based detonation of anger and fear,
probably rooted in self-loathing and now incorporating impending doom, and this
current episode is ignited from the recent desecration of the Sacred Kennedy
Seat in the US Senate. Teddy can no longer vote from the grave.
Propaganda
pieces usually initiate with some highlighted banner that signals the central message
and then begins to weave a web that is supposed to instill doubt in the reader
along with some sadness to jerk some tears from the toughest roughneck and then
to slip in some confounding information and opinions that are used to close up
the argument in the accustomed circular manner of the sophist. Not this time! Frank
uploads in the first line!
The
Crank unloads:
“It was not
a referendum on Barack Obama, who in every poll remains one of the most popular
politicians in America. It was not a rejection of universal
health care, which Massachusetts mandated (with Scott Brown’s
State Senate vote) in 2006. It was not a harbinger of a resurgent G.O.P., whose
numbers remain in the toilet. Brown had the good sense not to identify himself
as a Republican in either his campaign advertising or his victory speech.”—After
the Massachusetts
Massacre By Frank Rich Op-Ed Columnist Published: January 23, 2010 [Emphasis is mine in all
quotes.]
This is like some tent revival preacher launching off with
the bottom-line mandate that there are no sinners in the audience and then
explaining that forgiveness is a phantasm conjured up in Disneyland we
are will be fine. It is written in the rare form of a stumbling triple negative
narrative and is a masterpiece of denial.
Conditional prophecy
unfolds before our very eyes:
“And yet Tuesday’s
special election was a dire omen for this White House. If the administration sticks
to this trajectory, all bets are off for the political future of a
president who rode into office blessed with more high hopes, good will and
serious promise than any in modern memory. It’s time for him to stop deluding
himself.”—After the Massachusetts
Massacre
This is a stunning piece of psuedohyperbole. Obama is a disciple of Saul Alinsky. We now are
persuaded to understand all the input parameters that failed to tarnish our
wonderful president and will be given the names of the culprits in the next few
paragraphs. Obama’s glass slippers are in pieces all over the ballroom floor
and we are not permitted to surmise
that this event was a rejection of Obama’s primary campaign platform plank
healthcare. What else could it be?
Nobody is mad at
Obama?
“Obama’s plight has
been unchanged for months. Neither in action nor in message is he in front of
the anger roiling a country where high unemployment remains unchecked and
spiraling foreclosures are demolishing the bedrock American dream of home
ownership. The president is no longer seen as a savior but as a captive of the
interests who ginned up the mess and still profit, hugely, from it.”—After
the Massachusetts
Massacre
This fish is more difficult to unwrap. What ‘interests?’
The unions? ACORN? The polls say otherwise: Gallop reports that “The 65
percentage-point gap between Democrats' (88%) and Republicans' (23%) average
job approval ratings for Barack Obama is easily the largest for any president
in his first year in office, greatly exceeding the prior high of 52 points for
Bill Clinton.” Obama is seen to be slowing down things such as his State of
the Union Message. Obama has failed in
everything he has attempted except to infuriate the voters with his Marxian
cram-down politics as his lackeys squirrel away in dark corners and plot to
create sweeping laws that most of us do not want. He is a loser, but, lest we stray from the
central thrust of the NYT—the prime objective is to rescue
losers like this. So, we need to read
further before archiving this article in one of the lower layers of your parrot
cage and see if we can get a sense of the direction of the way for Democrats to
extricate themselves from this wreckage.
Frank then constructs an
imaginary cabal of angry voters who have a common cause: Dump on the banks!
“If the tea party
right and populist left agree on anything, it’s that big bailed-out banks have and will get
away with murder while we pay the bill on credit cards — with ever-rising fees.”—
After the Massachusetts
Massacre
We must assume that some common contempt for the banking
system exists among the restless masses and will lead to some joint bipartisan adventure
to micromanage the banks and thus satisfy and sooth the voters and thus excuse
Obama for his failures. This is laughable. I suggested we let the banks go down
like we did for Bear Stearns and Lehman. Why subsidize failure like we do
Amtrak and the post office? The Fed could have wired emergency reserve funds in
less than a minute so we didn’t need week of cronyizing and bumbling.
Old news
rehabilitated and dressed up as the new finding:
“Politically, no
other issue counts. In last weekend’s Washington Post/ABC News poll, 42 percent of
Americans chose the economy as the country’s most pressing
concern. Only 5 percent picked terrorism, and 2 percent Afghanistan.”—
After the Massachusetts
Massacre
This is a diversion. What could the banks have to do with
the economy if they are open for business and, incidentally, they pay high
wages and some very large bonuses? They don’t set interest and credit rates. Businesses
do not want to borrow and banks will not lend to deadbeats with lousy credit
ratings any more. The economic recovery depends on a good business climate and that
means that small businesses will have to be encouraged to borrow and hire new
employees. But, this pathway is scattered with numerous concerns such as
unknown tax levels, fees, punitive measures for doing certain kinds of business
or avoiding government mandates, the notion that we must go ‘green’ despite the
higher costs and energy inefficiencies of this direction. Small business, those who produce 65% of the
jobs have received no help whatsoever. Money was wasted in the GM and Chrysler
Circuses where unions were given power and bondholders told to take a haircut. This
is a good business climate? Apparently Obama thought so.
What is Cranking Up here is the urgent bleat for the
banks to further subsidize subprime mortgage wreckages that
were the heart of the far leftist nostrum of ‘affordable housing’ and most of
the reason the banks collapsed was due to toxic assets undermining their balance sheets. They
are greedy capitalists so they can just eat the losses. We are awash in debt so
deep that the average taxpayer who makes more than the median of $32,000
now has a tax liability of $192,000 and rising toward $220,000 if the debt limit is
raised. If you consider some test case like California you
find a bigger mess when you add in the massive state costs of the greens and
their phony global warming follies. This ‘affordable
housing’ was some obvious social mandate and Congress passed the
CRA [Community
Reinvestment Act] that
resulted in AAA
rated 2007 subprime mortgage bundles descending only 28 cents on the dollar.
Lower rated bundles are less than 5 cents on the
dollar. We want more of this? Yes, if you are a Marxist or a socialist. Those
levels are more than just ‘toxic.’ They signal a long-term bank crisis that may
be with us for a decade or two.
But, Frank needs to make his little
case:
“Does health care
matter? Not as much as
you’d think after this yearlong crusade. In the Post/ABC poll,
the issue was
second-tier — at 24 percent. Obama has blundered, not by positioning
himself too far to the left but by landing nowhere — frittering away his
political capital by being too vague, too slow and too deferential to Congress.
The smartest thing said as the Massachusetts returns came in Tuesday night was
by Howard Fineman on MSNBC: “Obama took all his winnings and turned them over
to Max Baucus.””— After the Massachusetts
Massacre
Apparently, we are to now to embrace the soggy belief that
Obama’s prime political theme was detected as having major holes in it so he
passed off the wreckage to some potentially expendable Senator and let him take
the heat. Obama did not, we are instructed, go too far to the left in terms of
socialized medicine with eternal government micromanaging hence bungling the
health and deaths or our citizens who are satisfied with their current system. Rich
fails to tell us that socialized medicine and public transportation are the
crown fungi in the rotting mass we call socialism. They are a must and the
people rejected this stuff and Frank must slither around these political rocks
and grope for some middle case where Obama is not directly blamed for this.
Obama is messageless? That IS
news.
“Worse, the master communicator in the White House has still
not
delivered a coherent message on his signature policy. He not only refused to signal his health care imperatives
early on but even now he, like Congressional Democrats, has failed to explain
clearly why and how reform relates to economic recovery — or, for that matter, what he wants the final bill to
contain. Sure, a president needs political wiggle room as legislative sausage
is made, but Scott Brown could and did drive his truck through the wide, wobbly
parameters set by Obama.”— After
the Massachusetts
Massacre
Here Rich zooms out into the vapors on gossamer
wings waving flags and spreading confetti and misstates history. Obama promised
and promised that his new HC scheme would save money and that it had to be
deficit neutral so they taxed the early years and then decided to let the full
weight of this gorilla come crashing down after 2014—a very convenient time
course in politics. He has jabbered
about little else. Given the history of government in construction of such metastatic diseases can we suggest, for discussion, an analysis of the infected string of social programs that failed like:
The Great Society, HUD, War on Poverty, Social Security, Medicare, WW1, WW2,
federal welfare and Amtrak to suggest a very few? What is the Social Security
liability now? Oh we must add an additional $141,000 to the almost $200,000
dollars the persons above the income median must now be liable for.
Is it time to mention that CA, NJ, MA, MD, MI and NY may default soon and add
some more debt to the pile?
“Ask yourself this: All these months later, do you yet know
what the health care plan means for your family’s bottom line, your taxes, your
insurance?”— After the Massachusetts
Massacre
No, Frank and neither do you.
“Obama needs more
independent economists like Paul Volcker, who was hastily retrieved from exile
last week after the Massachusetts massacre prompted the White House to tardily
embrace his strictures on big banks.”— After the Massachusetts
Massacre
Does The Crank tell us that Volcker was the guy who instituted
18% interest rates in the 70s and forced high unemployment to sweep up after
the Jimmy Carter mess? No. Volcker’s financial policies were ignored by people
who thought that we could spend our way back to prosperity such as Romer:
History flashback: The
Christine Romer Prophecy:
“…, even with the
large prototypical package, the unemployment rate in 2010Q4 is predicted to be
approximately 7.0%, which is well below the approximately 8.8% that would result
in the absence of a plan.”--CNSNews.com Monday,
July 06, 2009
The Christine Romer Un-Prophecy: Did Romer recant?
“Most
analysts predict that the fiscal stimulus will have its greatest impact on
growth in the second and third quarters of 2009,” Romer said. “By mid-2010, fiscal stimulus will likely be contributing little to
growth.”— Christine
Romer Oct. 22
The final Crankling:
“J.F.K. threatened
to sic his brother’s Justice Department on corporate records and then held firm
as his opponents likened his flex of muscle to the power grabs of Hitler and
Mussolini. (Sound familiar?) U.S. Steel capitulated in two days.
The Times soon reported on its front page that Kennedy was at “a high point in popular support.”
Can anyone picture
Obama exerting such take-no-prisoners leadership to challenge those who threaten
our own economic recovery and stability at a time of deep
recession and war? That we can’t is a powerful indicator of why what happened in Massachusetts will not stay in Massachusetts if this White House fails to reboot.”—
After the Massachusetts
Massacre
A clarion call for more government! How about a Marxist
Revolution so we can have Power to the People? Harry Truman tried this too and
was swatted down by the Supreme Court.
We expect such fluff and hokum from the NYT as
they grope for any solution to ‘save ‘ the presidency and keep the fires
burning on socialized medicine, EcoNazism and
other wasteful projects. The Crank’s plate is overloaded with maudlin
rescue notes and other scribblings as he recoils from the biggest act of desecration
of the Kennedy Image the world has ever seen.
The voters were very angry at Bush and now their anger is
redoubled at Obama so let Frank make all the excuses he can but November
2010 will probably be equivalent to the French Revolution in political terms. Weave
some fresh baskets.
rycK
Comments:
ryckki@gmail.com
Copulating with Coprolites: The
Unveiled Mechanism of Governance by Progressive Liberalism in California
The US national debts are massive and
Californians bears a massive load of debt of its own. Since there are only 65
million workers to handle 12 trillion dollars in National Debt and only half of
them pay taxes above the median of $32,000 then this works out to $192,000 each
for these workers. California has 36,756,666 million people while the US has 304,059,724 with about 65 million
total workers in above the median. Thus California has about 12.1% of those workers and
since about 21.1 % of the workforce on average across the country pays the
taxes we find that the 7,850,000 are liable for the total CA
tax burden and that works out to about $8,100 in state debt per worker in the
upper half of the income bracket. This puts the total tax burden at $200,000
each. For households with two workers and a total income of at least $62, 000
or twice the median this gives the household debt at $400,000 at this current
time. So, at a time of high debt we are generating more debt to fund projects
that will produce goods and services at a higher cost. This is the way the
thinking goes now in leftist circles. This is probably the new economics as
long as it lasts. The
Bursting of the GanGreen Bubble.
http://rycksrationalizations.blogtownhall.com/2010/01/18/the_bursting_of_the_gangreen_bubble.thtml
“Bear
Stearns made the first public securitization of Community
Reinvestment Act (CRA) loans started in
1997.[6] Editorialists in some American newspapers[7][8] and US Congressman Ron Paul[9] say the CRA loans were lent to otherwise
un-credit-worthy consumers in the name of ending discrimination, although an
analysis of actual lending patterns does not generally support this conclusion.[10][11][12]
On June 22, 2007,
Bear Stearns pledged a collateralized loan of up to $3.2 billion to "bail
out" one of its funds, the Bear Stearns High-Grade Structured Credit Fund,
while negotiating with other banks to loan money against collateral to another
fund, the Bear Stearns High-Grade Structured Credit Enhanced Leveraged Fund.[13] The funds were invested in thinly
traded collateralized
debt obligations (CDOs)
found to be worth less than their mark-to-market value. Merrill Lynch seized $850 million worth of the
underlying collateral but only was able to auction $100 million of them. The
incident sparked concern of contagion as Bear Stearns might be forced to
liquidate its CDOs, prompting a mark-down of similar assets in other
portfolios.[14][15] Richard
A. Marin, a senior executive at Bear Stearns Asset Management responsible
for the two hedge funds, was replaced on June 29 by Jeffrey
B. Lane, a former Vice Chairman of rival investment bank, Lehman Brothers.[16]
During the
week of July 16, 2007,
Bear Stearns disclosed that the two subprime hedge funds had lost nearly all of
their value amid a rapid decline in the market for subprime mortgages.