No one has more brass than the President of the United States, though his brass may be more polished than that of the Occupy Wall Street mobs. When Barack Obama speaks loftily about "investing in the industries of the future," does anyone ask: What in the world would qualify him to know what are the industries of the future? Why would people who have spent their careers in politics know more about investing than people who have spent their careers as investors?Why indeed.
He goes on to point out the general wool pulling that politicians do as a matter of routine:
Politicians may be crooks but they are not fools. Easily observed direct subsidies can create a political problem. Far better to set up an arrangement that will allow government-sponsored enterprises — whether the Postal Service, Fannie Mae, Freddie Mac or the Tennessee Valley Authority — to operate in such a way that they can claim to be self-supporting and not costing the taxpayers anything, no matter how much indirect subsidy they get.No doubt about it, we have been failed by our politicians, who think nothing of lying to us and robbing the treasury.
As just one example, the Postal Service has a multi-billion dollar line of credit at the U.S. Department of the Treasury. Hey, we could all use a few billions, every now and then, to get us over the rough spots. But we are not the Postal Service. Theoretically, the Postal Service is going to pay it all back some day, and that theoretical possibility keeps it from being called a direct subsidy.
The upcoming elections are of truly historic import. We live our lives on the brink, with our children's posterity in the balance. I would that they would grow up free. If won, the electoral battles of the 2012 elections will not mean the country is saved, but failing to win them in all likelihood will mean the country is lost.