It's no secret that Dick Morris is no fan of Barack Obama's domestic policies. In fact, Morris has coined the term, depressflation, to describe what he thinks will happen to our economy as a result. He believes we will have significant unemployment, on the level of a depression, at the same time we will have hyperinflation. (as such depressflation) Yet, now, Morris is just downright conspiratorial.
Morris believes that Geithner's plan to rid banks of toxic assets is doomed to fail. After all, the Obama administration has spent the better part of the last couple months demonizing entities like Hedge Funds. Yet, Geithner's plan relies on exactly those entities, like Hedge Funds, that the Obama administration has been demonizing all along. Morris wonders aloud just how the Obama administration expects to get these folks to now join the government in a partnership, the one proposed by Geithner.
In fact, Morris believes that this has all been orchestrated by Obama in order to make sure that Geithner's plan fails. Why? That's because this will leave Obama with no choice so to speak but to nationalize banks. In Morris' view, bank nationalization is Obama's plan all along.
Furthermore, bank nationalization is all part of an even bigger master plan to socialize the country.
Now, I won't speak on Obama's motivation. It's impossible to know what someone's intentions are unless you truly can read minds and I can't. I do know one other thing. President Obama won't get anymore chances if Geithner's plan fails. If President Obama thinks that he will try and do an end run toward nationalization, then he doesn't know as much about politics as he thinks he does. If Geithner's plan fails, then Obama's entire agenda is in jeopardy. If Geithner's plan fails, the credibility of the entire domestic agenda will be questioned.
At that point, the Republicans will be attacking Obama on just about everything. The mood of the public will be for change in philosophical direction. Rather than an appetite for more government control and power, the public will demand less of each. So, while I won't speak to Morris' thesis, I can say for sure that there's no way it will ever happen.
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4 comments:
I heard that Dick Morris stopped doing political consulting for Democrats after he got in a fist fight with Bill Clinton.
In any case, I don't particularly believe his thesis because, well, I just can't believe that anybody could get into a position of credibility and authority in this country and still be a genuine socialist. Heck, Wall Street gave more money to Obama than anybody else. And would a socialist surround himself with neoliberals like Larry Summers?
then you're both naive - either Obama's so dense that he doesn't know what he's doing, or he knows exactly what he's doing. You don't have to be a mind reader, you just have to deduce by eliminating the alternatives. Let's not forget, Obama's the smartest president we've ever had.
Do you have the IQ tests of all our presidents? Or are you saying that he's the smartest fecitiously? I don't know. Your comment is difficult to understand. Policy is extremely complex and sophisticated and figuring out motivations is never simple. Those that claim to know are almost always simply full of hubris.
Dick Morris is an entertainer, not an economist or a political consultant.
He spins right-wing looney gold for ignorant Obama hating 40+ white males.
His conspiracy assertion is laughable because Obama came out against nationalization against the likes of Linday Graham and Allen Greenspan for crying out loud!
Obama is as hot as he's ever going to be at the moment. If Geithner's TALF plan fails and the economy continues to sour isn't going to have the political capital to appoint a dog catcher let alone nationalize a major bank.
Ridiculous, one more reason to never watch FOX
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