Friday, October 30, 2009

A must read from Peggy Noonan
Tom Smith

I concede I have not always been kind to her in the past, but I think she is on to something here.  Maybe not that original, but I think it's significant that even she is talking this way now.  I think she's right.  For instance, I'm worried about the coming inflation.  The only to avoid it that I can see is to begin some serious fiscal discipline right now.  But we are so not going to do that.  In fact, we are poised on the biggest explosion of debt in US probably world history.  Yet our young President and his minions are just carrying right on, as if everything will be OK or it's not their problem whether it is or not.  Noonan's characterization of them as "callous children" is extremely, insightfully apt.  I guess if you try to be dazzlingly apt as often as she does, ever so often you are.

ALSO read this -- a cynical and probably accurate view of what Senator Reid of the Silver State is up to. In a way, the insurance companies deserve to rolled by the Democrats for being stupid enough not to realize they would be rolled by the Democrats.  But the rest of us will have to pay for it.

https://rightcoast.typepad.com/rightcoast/2009/10/a-must-read-from-peggy-noonan-tom-smith-.html

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Tom Smith
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Comments

Thank you - that's an interesting read. The first time I met a really despondent American was in 1988, by a pool in Queensland. He was on holiday from his diplomatic job in Tokyo. He was quite convinced that Japanese industrial prowess would sap the USA. I came over all contrarian, and gave him a sermon on why it need not be so. Short term I was right. Long term, if you add China and so on to Japan, perhaps he was right. Not that it needed to be so by logical necessity, just that given his knowledge of American society and government, he could see it would be so, though it took longer than he feared.

The first time I saw several Americans rattled was after 9/11. And now, she says, you are disheartened - which I'll interpret as both despondent and rattled. Oh dear. Mind you, things aren't rosey for us either, whether by "us" I mean the UK, or the British Isles (poor old Ireland too) or the EU. Still, Australia might well flourish - until it is invaded.

Posted by: dearieme | Oct 30, 2009 9:41:28 AM

The worst thing it is so unnecessary. It really is the apparent triumph of bad ideas. It could be we will snap out of it once we realize how bad things could get and how quickly. I think Noonan has a point that our leaders just don't realize how badly things could go off the rails. Whether this is because of their youth or their (lack of) education, I don't know. Someone like Reagan could turn things around in a few years, but I don't see anyone like Reagan around, and I doubt he would get elected if there were.

Posted by: Tom Smith | Oct 30, 2009 9:53:16 AM

I opined the same, nice to see you here fellow San Diegan, could you follow my site?

Posted by: left coast rebel | Oct 30, 2009 10:46:35 AM

That column shows Peggy Noonan at her best. I had despaired of seeing that Peggy Noonan again.

You are exactly right that we aren't going to begin exercising fiscal discipline. We'll keep spending like Bridezillas spending on wedding stuff(nothing is too extravagant because they're worth it!).

I wonder why there are so many very smart people who are well-educated in economics who think this spending orgy will not result in massive inflation.

Posted by: Larry | Oct 30, 2009 10:48:20 AM

I suspect the only "discipline" known to the current WH crew would also involve either bondage gear or Chicago style bare knuckles electoral politicing. Other than that ... nada.

Posted by: krome | Oct 30, 2009 3:00:37 PM