Cyber Coolie

Insert statement about high-minded discourse

Archive for April, 2011

Of Trump and General Elections

Posted by chakrabarti on April 29, 2011

This New Republic editorial is correct that Trump’s recent rise among primary voters is due in large part to “an exaggerated sense of victimhood.” Trump has managed to combine the usual CEO-whining about Obama’s Marxist-Lenninist-Maoist economic policies (which include compromising on public-option health insurance, creating a watered-down, Wall Street-friendly version of financial regulation legislation, abandoning stimulus at the first hint of Congressional resistance and jumping on the deficit-reduction wagon, so on and so forth) and familiar cultural resentments hurled at liberal politicians since time immemorial (reaping benefits of affirmative action, accusations of foreignness embodied in the “Birther” insanity) that are an instant hit among Republican primary voters. Of course, having a popular reality-show on a major TV network also helps with visibility.

But what the editorial skips mentioning is that if economic conditions are bad enough in summer or fall 2012, Trump (or Palin, or Romney, or whoever captures the nomination) will end up in the White House. Never mind the vanishing stimulus, the mood of “austerity” currently sweeping the nation’s political system (curiously reflected in budgets cuts aimed at weaker sections of society and a continuation of low marginal tax rates for investors and the business class) is a disaster for economic recovery and job growth, anemic as it is right now. While Obama might be interested in reaching further agreement with House Republicans on additional budget cuts in order to gain press coverage that appeals to Independents, I hope his advisers realize that a double-dip recession isn’t really the best re-election strategy, especially once the GOP candidate has been selected by next spring and the polls inevitably tighten.

Clearly, the Federal Reserve needs to step up to the plate and continue its “quantitative easing” policies in bigger quantities, especially given current inflation rates of 0.5%. Oh, wait

Posted in Uncategorized | 2 Comments »