Sunday, August 29, 2010

Comment on James Taranto
Oikophobia - WSJ.com

Oikophobia - WSJ.com

James Taranto hits a home run, with generous quotes from Charles Krauthammer.

What the self appointed elites fail to recognize is that they must provide some value to those they presume to lead. By bludgeoning the populace with false accusations of bigotry and ignorance, and doing so for such essentially trivial purposes as advancing the career of Barack Obama they have debased the currency of their prestige. The Global Warming fraud and Cash for Clunkers revealed their pretensions of technical skill and academically certified expertise are empty. Prestige was essentially all that they had except for some accumulated wealth and the inertia or habit of obedience by those same people they denigrate. While the real impoverishment of the masses have made the elites relatively wealthier compared to the Commons even the elites are facing absolute decline as wealth is transferred to China and the Middle East. The problem is compounded by the gross incompetence of those who bitterly cling to socialist models that result in absolute impoverishment. China and the Middle East are themselves on the edge of an economic precipice since the productive American system was the wealth generating cow that they profited from.

All this destruction of wealth over the last two years was triggered by Clinton's Community Reinvestment Act and the Acorn lawsuit against Bank of America, that Obama participated in. That lead to Fannie Mae becoming the bloated piggy bank looted by Barney Frank's boyfriend, Herb Moses and the Friend of Hillary, Jamie Gorelick.

The Islamists are rentiers who extract wealth either from resource extraction or intimidation of productive societies. Putin is maneuvering Russia into a similar relation to Europe. While China could transform into a real wealth generating society the internal contradictions of the communist party oligarchy clinging to power and their contradictory drives to simultaneously trade with and import technology from while seeking to undermine the United States will likely result in a crisis. China may descend into another Civil War.

It is interesting but not amusing that for all their assuming the mantle of ecological conservation the Left are not only aligned with the legacy of the most environmentally destructive regimes, the Soviets and the Chinese and their clients, but also with those who accumulate and consume wealth obtained solely through unproductive extraction of natural and human resources.

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