Great column by Heater Higgins of Townhall.com today. Everyone should read Obama Schadenfreude
The seeming indifference of this Administration to the steady and precipitous decline of the market since President Obama’s election should surprise no one. One has only to look at the President’s past to gauge the prism through which he sees the present… and the future.
Many on Wall Street and Main Street voted for Obama hoping that he would be bipartisan, above politics, and, for many, rein in spending and deficits. They thought his left-wing associations and votes were purely the artifact of necessity and political ambition. When the credit and liquidity crunch hit, they thought Obama would be smart enough to fix it (which presumes, of course, that it can be “fixed”).But this was a triumph of hope over observation. We have elected a president who has no real business or investment experience. His only notable for-profit venture was selling his book; as a law professor, community organizer, and legislator, he operated in redistributionist worlds where wealth, garnered from contributions or taxes, is received and redistributed. In those spheres there’s a seemingly bottomless well of funds, but unlike the for-profit world there can be a disjunction between your customers and your funding. At a non-profit, revenue comes from cajoling funders (who care about students or community residents, but who are not themselves the users of the non-profit’s services); in government, revenue is derived by forcing taxpayers – many of whom are not that legislator’s voters – to pay more.
One Response to “Obama’s Schadenfreude; Heather Higgins: Townhall.com Columnist”
George
2 months ago
It’s very funny that you use the german word “Schadenfreude”. I guess that is the same thing like “Kindergarten”, “Angst” and “Autobahn”. Germany also use many english and american words in their language but it sounds funnier, when you spell words like “Schadenfreude”
Thx a lot for this post 