Obama Lincoln

Obama's Big Sellout : Rolling Stone: "What's taken place in the year since Obama won the presidency has turned out to be one of the most dramatic political about-faces in our history. Elected in the midst of a crushing economic crisis brought on by a decade of orgiastic deregulation and unchecked greed, Obama had a clear mandate to rein in Wall Street and remake the entire structure of the American economy. What he did instead was ship even his most marginally progressive campaign advisers off to various bureaucratic Siberias, while packing the key economic positions in his White House with the very people who caused the crisis in the first place. This new team of bubble-fattened ex-bankers and laissez-faire intellectuals then proceeded to sell us all out, instituting a massive, trickle-up bailout and systematically gutting regulatory reform from the inside."

Obama says he admires Abraham Lincoln and that Team of Rivals was a huge influence.

I guess he paid particular attention to the part where Lincoln and his Secretary of the Treasury discovered a clever way to pay for the Civil War: print money.

I guess The Peace President needs to print a lot of money because we have a number of wars going: The War on Drugs; The War on Poverty; The War in Iraq; The War In Afghanistan; The War against THE CLIMATE; and I'm sure there are more.

Taken together, the rash of appointments with ties to Bob Rubin may well represent the most sweeping influence by a single Wall Street insider in the history of government. "Rather than having a team of rivals, they've got a team of Rubins," says Steven Clemons, director of the American Strategy Program at the New America Foundation. "You see that in policy choices that have resuscitated — but not reformed — Wall Street."

In fact, Obama is doing what Lincoln did - appointing insiders.  The so-called "Team of Rivals" was Lincoln's cabinet.  It's "ex post facto" storytelling by Doris Kearns Goodwin that Lincoln hired his team because he wanted alternative views.  In fact he wanted insiders to balance his own outsider status ... and if they had conflicts with each other then he resolved them - but Ms. Goodwin gets the cart before the horse.

It's the same for Obama.  He's the outsider but 100% of the people around him are Washington insiders.

Our presidential elections are a no-win situation.  The president is a figure head.  Washington is run by the insiders who have formed a bureaucratic cesspool of toxic insider deals.  I guess as figure-heads go Obama is doing a fine job - he just got the Nobel Peace Prize for not being George Bush.

Today, the great enabler, of course, is the Federal Reserve, working jointly with the banks and the politicians to ensure both groups have plenty of scratch.  Lincoln was on top of the situation in that regard as well, as he created a central bank that printed money to fund the war.  Luckily that bank eventually failed just as the Federal Reserve will.  All paper money eventually fails just as all Ponzi schemes eventually fail.  Figuring out the timing is pretty tricky but one day the people in Bernie Madoff's fund were millionaires and then five minutes later they were completely broke.  When it happens, it happens fast.  Anyone with something called a dollar is a participant in the Federal Reserve Ponzi scheme and when it collapses it will happen very quickly.

It's best to be prepared.  If you can figure out how, that is.  I leave that as an exercise for the reader.
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