Saturday, October 25, 2008

I'm Binah, and I approved this posting

It's a shame, but I have reached the point of no longer having the time to blog as I once did -- life has too many other demands at this point. So I'm quitting the blogging life, perhaps for good, perhaps just for a time.

I don't need to expand much on the depressing political developments probably coming our way -- a large step backwards to about 30 or 40 years ago -- in the form of Barack Obama, his movement, and the flunky journalist class that surrounds and protects him. Falsely sold as an agent of change, Obama in reality is the politics of Boomer nostalgia made flesh and dwelling among us, as well as a false messiah of the panicked establishment now filling his campaign coffers. It's older voters and older Boomers who are his core supporters. He's not the future, but very much the past, nicely scripted and teleprompted.

There will be no more seemingly limitless easy credit from our Asian lenders after the current financial crisis ends. Once discredited, nostalgia-filled "progressive" politics is likely to turn into nasty or even violent reaction. Constitutional and democratic government will be under exceptional stress, with suppression of dissent and free speech very likely. With its voter fraud schemes and bullying of local radio and television stations, the Obama campaign is a foretaste.

Somewhere between cult and hoax, an Obama presidency will probably be one term only. But don't get your hopes up too fast. An enfeebled GOP will take at least a decade to rebuilt an effective opposition, and we don't have a decade to respond to the crisis brought on by a vast credit bubble and a decade and a half of overborrowing. The coming breakdown of the welfare state will only add more woe. The problems created by too much debt cannot be solved by more borrowing. Politicians' new false promises can't undo the damage done by past false promises.

Political opposition is likely to take more bizarre forms. Backward steps in tax and other policies will undoubtedly make the US an even more hostile place than it already is for businesses that produce goods and services -- as opposed to financial institutions and politicians that encourage Americans to pile on more debt to buy from elsewhere. The dollar's long period as the world's main reserve currency enabled much of this excess. Expect the dollar to lose much or all of this status. The terms of borrowing from foreigners will become much tougher.

If we had a free press in America -- ah, but we don't. (See here and here, curiously, both by Democrats.) What we have instead is a class of would-be courtiers and lackeys, all primping themselves to serve as Obamamerica's unpaid Ministry of Popular Enlightenment. The conventional media is a junk-food banquet in which most of the dishes are poisoned. The best thing you can do is the simplest: turn it off. Conservatives, libertarians, and independents need to abandon the media-driven populist posturing that has displaced their older political wisdom in the last 15 years. The conservative movement so successful in the 1970s, 80s, and 90s was a movement of personal experience, thought, conversation, and books, not a movement of televised talking heads, Washington cocktail parties, and pandering.

This is Binah, signing off, till who knows when. To quote a journalist from a different era, when America actually had reporters, good night and good luck. Let's hope the night doesn't last longer than it needs to.

POSTSCRIPT: How could I forget "blogal warming"? :) Good news to report: more and more scientists are publicly rejecting the idea, as the negative evidence keeps piling up. Don't ignore your personal experience: the last two years really have been colder. The polar regions, especially the Antarctic, are cooling. The connection to the Sun's weakening magnetism can no longer be disputed, even if it is not yet understood.

It's refreshing to see scientists responding to evidence and ignoring mistaken computer models. If only Wall Street had taken this to heart earlier ....

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