It will come as no surprise to those who have read recent posts on this blog, that Silverwolf has taken the gravest exception to many of our new President’s policies, and has been highly critical of him in many areas, from economics to foreign affairs. But he thinks he should give his view of the President as a person apart from his actions as a political figure.
Basically, Silverwolf thinks the President is a nice guy, with a winning manner, but without any deeply thought out or deeply held convictions or principles. A compromiser and pragmatist at heart, loath, as was War Criminal Lyndon Johnson, to ever move against a majority. The many immoral actions the President has taken, in the sense of anti-Jeffersonian violations of the Bill of Rights, illustrate that the President lacks this deep commitment to Principle, and his economic program shows the frequent lack of economic understanding one can encounter even in the brightest lawyers. Quick-wittedness in the law does not necessarily mesh with quick-wittedness in business, or in seeing the tangential necessities of economic freedom and personal liberty. What is so exhilarating about the 17th and 18th century French “laissez-faire” economists, thinkers like Turgot and Cantillon, is their commitment to personal liberty, and their seeing the connexion betwixt that liberty and economic freedom. To laissez-faire, to “let to do” is not only the best thing for the individual, but also for the society at large. And government regulations on businesses of which the government bureaucrats know nothing, but the entrepreneurs know a great deal, only act as a tax which ends up costing the consumer in higher prices, impoverishing society as a whole, to benefit both some special interest group, and the bureaucrats who enact and enforce these regulations, in the form of their salaries and benefit “packages”. Rothbard taught us to always ask, Qui bono? when it comes to government regulation of an industry. Who benefits?
All these things are beyond the comprehension of our new President, whose choice of Geithner as Treasury Secretary shows that he is completely brainwashed in the Keynesian, government-must-always-intervene, mentality. It is in this sense that the President, quick-witted though he be, has never flashed on the moral implications of Liberty, as they were protected and promoted by the U.S. Constitution and the Bill of Rights, with the philosophical ideas that inspired these being propounded in the Declaration of Independence and the Preamble.
It is this personal charm, and the President’s public speaking prowess, combined with this complete lack of deep political and economic Principle, that are so dangerous in this President. With his vast majority in the Senate, the President can “fast-track”, i.e. ram through, any legislation, unConstitutional or not, through a complaisant Congress.
However, the President, and his equally unprincipled fellow Party members in the Legislative Branch, will soon see that their Keynesian mish-mash will presently turn the American economy to mush, and they will then try to get out of it by both raising taxes on the entrepreneurs, while inflating to rid themselves of the real value of the debt they have been running up for the last 76 years. As they kill the incentive to work with higher income taxes, their tax revenue base will shrink, while the inflation and higher taxes will drive more and more to seek the shelter and “security” of a government handout. This will, in turn, greatly increase the tax demands on government, while simultaneously shrinking the tax base. And both these processes will accelerate constantly at an ever-increasing velocity, until, in a very few years, the system grinds to a halt, and they issue a new currency, and will talk of a “fresh start”, meanwhile having completely destroyed the value of the money for anyone who saved the old currency, or didn’t spend it down to the last unit before it became worthless.
Karl Marx and the sadistic fox-hunter, Friedrich Engels, used to quack about how Capitalism would eventually collapse of its own accord, no matter what anyone did. But they had it completely turned around, for while Capitalism can pretty much go on indefinitely producing wealth, and new forms of wealth as technology advances, it is Socialism, as exemplified in Keynesian meddling in the private economy, that is doomed to fail from the moment it gets a foothold in government. This is one of the great insights of von Mises and Hayek. And it is this lesson that we are now witnessing in America and around the world — the great failure of Keynesian, Socialist, big government.
And this is the lesson that President Obama — a nice guy at heart— can never grasp or even comprehend. There is a difference between quick-wittedness and intelligence, cleverness and profundity. A difference of which the President is not even conscious.
Hooooooooooooooooooooooooowwwwwwwwww! — Silverwolf