Nihilism triumphant
"And for you Democrats looking for some silver lining…I got nothing" — Election-night tweet
Well, that was over in a flash. Our liberal, even socialist-curious, president. Our far-left Congress. And perhaps they reached too far, too fast. After all, President Obama chose as his top economic advisers Nobel laureates Joseph Stiglitz and Paul Krugman, as well as former Fed Chairman Paul Volcker. Inheriting the bank bailout from George W. Bush, he imposed a stringent windfall profits tax on Wall Street which he used to help foreclosed house-owners. Wall Street felt the iron hand of liberalism, with a new Glass-Steagall, big enough to even turn the shadow banking system from speculation into investing in job-creating productive industries. Mr. Obama's Attorney General perp walked dozens of leading banksters. And the stimulus: Instead of wasting it in tax cuts, as some advocated, it was more than $1 trillion aimed at cutting-edge infrastructure, including rebuilding our passenger train system and high-speed rail, not being thrown away on highways. Where did the money come from for this socialist reign of terror? Higher taxes on the richest, making corporations actually pay taxes, and winding down the vast national security/empire economy. We were well on our way to retrofitting suburbia for a high-cost energy future, addressing climate change, moving away from foreign oil. And in doing so, creating millions of high-paid jobs. And many union ones, for these ruthless bastards immediately pushed through the Employee Free Choice Act. No wonder, the forces of reaction reacted…
Of course none of that happened. The quick lessons of the election: 1) When an ignorant, afraid electorate, seeing its living standards fall, must choose between bought-off Republican-lite Dems and real bought-off Republicans, they will choose the latter. 2) Except for the bluest states and most farcical candidates, money buys elections and the liberals can't outspend what John Judis calls "the party of reactionary insurrection." 3) The quiet coup has been completed. 4) The Democratic Party may not be dead, but it should be. 5) Most voters have no memory of a government that works well and fights for average people, and that bodes ill for liberalism. 6) Did it matter that the president is black? To many Americans, it did, and negatively. 7) Arizona is toast.