From David Broder’s latest column in the Washington Post:
Can Obama harness the forces that might spur new growth? This is the key question for the next two years.
What are those forces? Essentially, there are two. One is the power of the business cycle, the tidal force that throughout history has dictated when the economy expands and when it contracts.
Economists struggle to analyze this, but they almost inevitably conclude that it cannot be rushed and almost resists political command. As the saying goes, the market will go where it is going to go.
In this regard, Obama has no advantage over any other pol. Even in analyzing the tidal force correctly, he cannot control it.
What else might affect the economy? The answer is obvious, but its implications are frightening. War and peace influence the economy.
Look back at FDR and the Great Depression. What finally resolved that economic crisis? World War II.
Here is where Obama is likely to prevail. With strong Republican support in Congress for challenging
I am not suggesting, of course, that the president incite a war to get reelected. But the nation will rally around Obama because
Not that a guy like David Broder paid it much attention, but I find it absolutely hilarious that this column comes less than 48 hours after Jon Stewart’s and Stephen Colbert’s Rally to Restore Sanity and/or Fear. The thing is, Broder is not some rabid Hannity-esque warmonger. Rather, his is the pen of the beltway establishment and therefore conventional political wisdom. And here he is making the case for war with
According to Broder and his conventional wisdom, the Great Depression was resolved by the prosecution of World War II. It’s the standard canard about WWII economics that requires more explanation than Broder gives it. The assumption that war yields economic prosperity is a pernicious and often incorrect one. No one would say that the French or British economies were strengthened by World War II.
When hacks like Broder say WWII lifted the American economy out of the doldrums, what they are really saying is that massive amounts of spending and heavy state intervention in the market saved the
Whether his senile mind knows it or not, Broder is advocating military Keynesianism. Even though he assures us that he isn’t suggesting Obama start a war, the president “can spend much of 2011 and 2012 orchestrating a showdown with the mullahs. This will help him politically because the opposition party will be urging him on. And as tensions rise and we accelerate preparations for war, the economy will improve.”
First of all, from a moral standpoint, no person anywhere should ever be “orchestrating a showdown” with anyone—not at home or work, and certainly not in international relations. To purposely take measures that would escalate tensions and hostilities is downright psychopathic.
Second, from a pragmatic standpoint, Broder is stuck in 1940. He seems to be assuming that American preparations for war with
Another fundamental difference between WWII and the wars of today is that the government doesn’t ask American civilians to sacrifice anything. Indeed, the wars themselves are essentially unfunded, with the costs just piled onto the national debt. Aside from the hell we put our volunteer soldiers and their families through, Americans have carried on as usual during wartime. To their credit though, Americans do put “Support the Troops” stickers on their cars, which can look awfully ugly on the back of a Hummer.
Perhaps the most amusing part of Broder’s column is when after he’s laid out his piss-poor economic argument for war, he tosses in the obligatory, “
Thankfully, the current economic climate in the
- Max
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