American Elephants

Whoah! The Hypocrisy is Getting Pretty Thick Here! by The Elephant's Child

Bwa-ha-ha-haha!  CNN headline:”Obama calls for greater transparency from Romney snort! giggle.  President Transparency, who won’t disclose his Harvard grades, or his grades from Columbia University, or his grades from Occidental, or Punahou grades, or even grade school or kindergarten. His life is an open book — the autobiography with all those invented characters and dubious stories.

President Transparency— who has two cabinet members under threat of contempt of Congress because they won’t reveal the papers that Congress has subpoenaed, and President Transparency has asserted “executive privilege” so they won’t have to.

Obama can’t talk about the economy because his record with the economy is truly horrible. All his claims of hope and change, promises of jobs, promises of a reviving economy are all for naught. The economy sinks deeper, the job situation gets worse, largely because of the policies that Obama has pursued.

Mr. Obama doesn’t understand how jobs are created. He doesn’t seem to understand that public sector jobs are paid for with money taken from taxpayers. Every time you add another high-paying administration job, and they are very high-paying, everybody’s taxes go up a little more. He announced today that he wants to tax the rich more because they paid higher taxes during the Clinton administration and the economy did fine.

So the economy and unemployment are off the table, that leaves only attacks on Romney. At Axlerod’s direction, armies of lefties are digging through Romney’s financial dealings trying desperately to find something, anything, crooked.  Romney is wealthy, that makes him a real target of the left. Former press secretary Robert Gibbs argued on Sunday that Romney’s financial picture is out of touch with that of most Americans.

“I pick a bank because there’s an ATM near my home,” he said on CNN’s State of the Union. “Romney had a bank account in Switzerland.”

OMG. Switzerland?

Romney had a stellar education, very bright, with a talent for numbers and data and business. Over the years that talent and his skill managed to turn many companies around, and some of them became spectacular successes. What people in private equity do is invest their own money, along with that of shareholders (including retirement funds and individuals) so they have a stake in how their efforts turn out, both on the upside and on the downside. The Obama campaign has already tried to portray Bain Capital as a “corporate raider” which is just silly, and demonstrates how very little these people understand about business.

When Obama was first inaugurated, Rham Emmanuel set up daily economic meetings, since the economy was in such dire shape. He was waiting for the multiplier effect to multiply, and he got bored and quit them.

Mr.Obama’s understanding remains at the same level as when he started. You jump-start an economy by creating demand; when there isn’t enough demand, you pump some money into the economy , which the people will spend, and the money will circulate through the economy creating a magical “multiplier effect,” creating more demand in every hand it touches. Trouble is, a number of our top economists have determined that the “multiplier effect” is approximately zero. And when people are frightened, they don’t spend the extra, they save it. He can’t even explain how his policies were supposed to work or why they haven’t, he can only make specious claims that it will all start to work pretty soon — one of these days.

People who regard the path to wealth as something obtained through crony capitalism, and government jobs as “public service” in which you buy votes and do favors are not going to understand American capitalism. From Elizabeth K. Spahn

Crony Capitalism.” Isn’t that what American capitalism is? We were into our third glass of very fine red wine at the banquet following the training session. He was absolutely sincere. I was horrified. . . .

Cronyism is not capitalism, I replied. Cronyism is the opposite of capitalism. American capitalism is about markets, competition. “Rational” markets in which sellers compete; purchasers decide based on price, quality, service, brand. Cronyism, nepotism, elites reserving the goods for themselves — This is the opposite, the antithesis of American capitalism. This is why we revolted in the first place.

He looked at me. I looked at him. Ah, he said.


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