Thursday, May 02, 2013

Great Minds Think Alike, David Harsanyi Edition

David Harsanyi is a libertarian columnist whose writings are showing up in more and more prominent places.  Here David takes note of a remarkable feat achieved by "progressive Democrats" which I have often, and varyingly, labelled "Pelosicrats" or "Obamacrats".
One of the most seductive parts of President Barack Obama's political message (and the message of progressive Democrats in general) is sympathy for the poor and a willingness to talk about the disparities of capitalism -- about the rich being too rich and the poor being screwed. In some ways, it's the predominant message of the Obama era.
Now, if you're heavily invested in the market, life is peachy. A confounding fact, no doubt, when one considers that nearly every economic indicator known to mankind has been pretty abysmal of late. We are experiencing high unemployment, a shrinking labor force, stagnant gross domestic product growth and rickety consumer confidence. A disconnected market, though, has been on a historic boom. So if we need any more proof that life really isn't fair, think about this: The rich have the Federal Reserve, and you have Harry Reid.
All of that is true and it sounds remarkably like this take, which all 15 readers of NBfPB will be quite familiar.
I have well-chronicled a phenomenon that you rarely read about - that the Democrats (the Pelosi, Reid and Obama gang) has created an economy that stinks for average people but that is not so bad for owners of things.
That's what Washington has created for us, a modest recovery that is accruing to capital and not to labor...Ergo the profits but not too much hiring. So that's how we got an economy that stinks for "workers" but is OK for "owners".
Read the full recipe for this outcome here. Unfortunately, it was all as predictable as the sun rising.


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