Victor Davis Hanson:
For those with a little capital there is only a sinking stock market. It seems to wipe out more of their 401(k)s each week, as if each month cancels out yet another year of prior thrift. Near zero interest means any money on deposit is only insurance, not any more a source of income. Millions are trapped in their unsold houses, either underwater or facing an end to any dreams of tapping equity by sale.
In response, the Obama administration — let me be candid here — seems clueless, overpopulated as it is by policy nerds, academic overachievers, and tenured functionaries (cf. Larry Summers’ “there is no adult in charge”). They tend to flash Ivy League certificates, but otherwise have little record of achievement in the private sector. Officials seem to think that long ago test scores, a now Neolithic nod from an Ivy League professor, or a past prize translates into knowing what makes America run in places like Idaho and southern Michigan.
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The domestic critique of the Bush-Cheney anti-terrorism protocols has been rendered mere partisanship by the Obama embrace or expansion of nearly every element that was once demonized between 2002-8.
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The spell has now passed; and we are stronger for its passing. There is going to be soon a sense of relief that we have not experienced in decades. In short, sadder but wiser Americans will soon be turned loose with a vigor unseen in decades.
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