Linda Volrath, At the Start, private collection

Not much blogging is happening today. Karen and I will be working at the 60th running of the Blue Ridge Hunt Spring Races. Karen is passing out the trophies, and I’m checking veterinary papers and issuing entry numbers.

The painting above depicts one of the races at Woodley.

Australia’s former prime minister Paul Keating, as the Sydney Morning Herald explains, does not think much of Barack Obama’s choice of Treasury Secretary.

When Barack Obama announced his champion to rescue the world from economic ruin, it was the first time most Americans had ever heard the name Tim Geithner.

The initial impression was good. The stockmarket surged and the pundits swooned. “Exactly a decade ago, he was Uncle Sam’s golden-boy emissary sent into the stormy centre of what was then the world’s worst financial crisis [the Asian crisis],” reported The New York Post.

The paper gushed: “Just 36 at the time, he’d been raised in Asia and knew the culture so intimately he scored successes and won confidences that other diplomats couldn’t match. Geithner earned widespread plaudits for pulling together quarrelling Asian finance ministers into a $US200 billion rescue of their economies.”

“A fantastic choice,” said a Bank of Tokyo-Mitsubishi analyst, Chris Rupkey, as the Dow rose by nearly 6 per cent. Even one of Obama’s political rivals, the hard-bitten Republican senator Richard Shelby, agreed Geithner was “up to the challenge”.

If anyone in the US media had thought to ask a former Australian prime minister for his assessment, they would have heard a different view. And they would not have been so surprised at Geithner’s performance since.

In a speech to a closed gathering at the Lowy Institute in Sydney on Thursday, Paul Keating gave a starkly different account of Geithner’s record in handling the Asian crisis: “Tim Geithner was the Treasury line officer who wrote the IMF [International Monetary Fund] program for Indonesia in 1997-98, which was to apply current account solutions to a capital account crisis.”

In other words, Geithner fundamentally misdiagnosed the problem. And his misdiagnosis led to a dreadfully wrong prescription.

Geithner thought Asia’s problem was the same as the ones that had shattered Latin America in the 1980s and Mexico in 1994, a classic current account crisis. In this kind of crisis, the central cause is that the government has run impossibly big debts.

The solution? The IMF, the Washington-based emergency lender of last resort, will make loans to keep the country solvent, but on condition the government hacks back its spending. The cure addresses the ailment.

But the Asian crisis was completely different. The Asian governments that went to the IMF for emergency loans – Thailand, South Korea and Indonesia – all had sound public finances.

The problem was not government debt. It was great tsunamis of hot money in the private capital markets. When the wave rushed out, it left a credit drought behind.

But Geithner, through his influence on the IMF, imposed the same cure the IMF had imposed on Latin America and Mexico. It was the wrong cure. Indeed, it only aggravated the problem.

Keating continued: “Soeharto’s government delivered 21 years of 7 per cent compound growth. It takes a gigantic fool to mess that up. But the IMF messed it up. The end result was the biggest fall in GDP in the 20th century. That dubious distinction went to Indonesia. And, of course, Soeharto lost power.”

Liberals are always telling us that Barack Obama deserved to be elected president, despite his skimpy public career and lack of any record of serious accomplishment, because he is so absolutely brilliant and intelligent as evidenced by his ability to produce the kind of eloquence that sends quivers of ecstacy running down pale, flabby liberal legs.

Or is he all that brilliant after all?

Carol E. Lee, at the Politico, describes how Barack Obama’s reliance on the teleprompter, and increasingly obvious incapacity to function at all ex tempore, is proving both a physical inconvenience and an embarrassment to his faithful followers in the press.

Obama’s reliance on the teleprompter is unusual — not only because he is famous for his oratory, but because no other president has used one so consistently and at so many events, large and small.

After the teleprompter malfunctioned a few times last summer and Obama delivered some less-than-soaring speeches, reports surfaced that he was training to wean himself off of the device while on vacation in Hawaii. But no such luck.

His use of the teleprompter makes work tricky for the television crews and photographers trying to capture an image of the president announcing a new Cabinet secretary or housing plan without a pane of glass blocking his face. And it is a startling sight to see such sleek, modern technology set against the mahogany doors and Bohemian crystal chandeliers in the East Room or the marble columns of the Grand Foyer.

“It’s just something presidents haven’t done,” said Martha Joynt Kumar, a presidential historian who has held court in the White House since December 1975. “It’s jarring to the eye. In a way, it stands in the middle between the audience and the president because his eye is on the teleprompter.”

Just how much of a crutch the teleprompter has become for Obama was on sharp display during his latest commerce secretary announcement. The president spoke from a teleprompter in the ornate Indian Treaty Room for a few minutes. Then Gov. Gary Locke stepped to the podium and pulled out a piece of paper for reference.

The president’s teleprompter also elicited some uncomfortable laughter after he announced Kansas Gov. Kathleen Sebelius as his choice for Health and Human Services secretary. “Kathy,” Obama said, turning the podium over to Sebelius, who waited at the microphone for an awkward few seconds while the teleprompters were lowered to the floor and the television cameras rolled.

Obama has relied on a teleprompter through even the shortest announcements and when repeating the same lines on his economic stimulus plan that he’s been saying for months — whereas past presidents have mostly worked off of notes on the podium except during major speeches, such as the State of the Union.

Read the whole thing.

It’s understandable, I suppose. We saw during the campaign what Obama was like without assistance.

Example 1

Example 2

Example 3

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Iowahawk has a few choice words for the great man from his own teleprompter.

4:04 video

Tigerhawk, the Princetonian blogger from Iowa, has been pulling a few all-nighters recently, but found time (at 3:00 AM on Sunday) to deliver on video a John Galt-style speech defending the hard work and personal sacrifices of the high achieving people like himself, currently being stigmatized and targeted for special tax treatment by Barack Obama.

I’ve heard more fully developed analyses and better eloquence, but not often by people speaking from the heart from notes written at three o’clock in the morning after a lengthy session of work.

9:50 video

Leftie blogs are full of Rand villains sneering in response. Dagny would shoot the lot of ’em.

The late “Macho B,” scientific research study subject

Remember the jaguar collared by the Arizona Game and Fish Department, a wildlife research coup trumpeted two weeks ago in news stories published around the country?

Well, as so often seems to happen when the experts go to work, the patient died.

Some news agency informed us yesterday that the collared male jaguar (now named Macho B by his former captors) was looking the worse for wear after his encounter with humanity. So they captured the poor jaguar all over again, concluded he was unwell, and after a thorough session of expert chin-stroking, euthanized him.

You or I would get in big trouble if we tried collecting a specimen of Pantera onca. Jaguar hunting is streng verboten because an unelected international committee of “experts” has placed every single representative of every jaguar population and subspecies on the sacred Endangered Species list, including the ones in the remote jungle wilderness that are not especially endangered at all.

There is no doubt that Arizona jaguars, though, are rare and in short supply, but, as this incident demonstrates, any numbskull with a degree from some state college extension and a badge can get permission from his federal chums for a little scientific research. All animals are equal, but some animals are more equal than others, as George Orwell observed.

The Arizona Game Department’s ill-advised self-promotion in connection with the initial capture has also had the untoward effect of unleashing the animal loving, enviro whackjobs, resulting in protests and (naturally) a memorial service for the dearly departed tigre.

Rahm Emanuel, so fierce a political operator that democrats nicknamed him “Rahmbo,” previously had a softer side. Rush mockingly posted the above photo (and I enlarged it).

Recently targeted by the White House in a series of political attacks, Rush Limbaugh retaliated by challenging the renownedly eloquent Barack Obama to a live political debate on the issues on which they so conspicuously differ.

The current administration has specifically identified Rush Limbaugh as the principal spokesman of the opposition. No one would be a more fitting debate opponent.

Personally, I’ll bet that Obama chickens out and refuses to debate, but the compensation is that Rush will have plenty of fun mocking him for it.

I have an idea. If these guys are so impressed with themselves, and if they are so sure of their correctness, why doesn’t President Obama come on my show? We will do a one-on-one debate of ideas and policies. …

Let’s talk about all of these things, Mr. President. Let’s go ahead and have a debate on this show. No limits. Now that your handlers are praising themselves for promoting me as the head of a political party — they think that’s a great thing — then it should be a no-brainer for you to further advance this strategy by debating me on the issues and on the merits, and wipe me out once and for all!

Just come on this program. Let’s have a little debate. You tell me how wrong I am and you can convince the rest of the Americans that don’t agree with you how wrong we all are. You’re a smart guy, Mr. President. You don’t need these hacks to front for you. You’ve debated the best! You’ve debated Hillary Clinton. You’ve debated John Edwards. You’ve debated Joe Biden. You’ve debated Dennis Kucinich. You’ve debated the best out there. You are one of the most gifted public speakers of our age. I would think, Mr. President, you would jump at this opportunity. Don’t send lightweights like Begala and Carville to do your bidding — and forget about the ballerina, Emanuel. He’s got things to do in his office. These people, compared to you, Mr. President, are rhetorical chum.

I would rather have an intelligent, open discussion with you where you lay out your philosophy and policies and I lay out mine — and we can question each other, in a real debate. Any time here at the EIB Network studios.

Hat tip to the Barrister.

A lot of Americans were delighted to hear that, once Barack Obama was elected, absolutely everyone would be getting exactly the same kind of health care enjoyed by US senators. If you believed that, you need to talk to me about this bridge I have for sale.

Today’s Daily Mail has a story illustrating how government-provided health services really work: by rationing.

Thousands of patients with terminal cancer were dealt a blow last night after a decision was made to deny them life prolonging drugs.

The Government’s rationing body said two drugs for advanced breast cancer and a rare form of stomach cancer were too expensive for the NHS.

The National Institute for Health and Clinical Excellence is expected to confirm guidance in the next few weeks that will effectively ban their use.

The move comes despite a pledge by Nice to be more flexible in giving life-extending drugs to terminally-ill cancer patients after a public outcry last year over ‘death sentence’ decisions. Leading campaigners last night said Nice had failed the ‘acid test’ of whether it really intended to give new priority to people with just a few months to live.

One drug, Lapatinib, can halve the speed of growth of breast cancer in one in five women with an aggressive form of the disease.

Dr Gillian Leng, Nice deputy chief executive, said ‘The committee concluded that Lapatinib is not a cost-effective use of NHS resources when compared with current treatment.’

Up to 1,500 stomach cancer patients also face a ban on Sutent – the only drug that can extend their lives.

California’s San Francisco Bay area is notorious for both its inhabitants’ lack of enthusiasm for conventional religion and their hair-trigger political sensitivities.

Zomblog was consequently therefore more than a little surprised at the lack of protests, condemnations, or even public discussion of a new Islamic advertising campaign, funded by the Islamic Circle of North America (ICNA), the North American branch of Jamaat-e-Islami, the fundamentalist Pakistani political party.

“No enemies to the left” seems to apply even to Islamic fundamentalism, and even in the Castro, despite the obvious problems with regarding organizations dedicated to the imposition of sharia law as being on the left.

Suckers!

Jennifer Rubin observes how quickly Barack Obama has persuaded last autumn’s conservative turncoats to reconsider their wardrobes.

It’s not quite LBJ losing Walter Cronkite on the Vietnam War, but the president has lost David Brooks.

Well, well. First Chris Buckley and now Brooks. Usually it takes more than a month for presidents to disappoint those they have bamboozled during the campaign. But, as Brooks points out, Obama threw caution to the winds when he unveiled his monstrous budget.

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David Brooks:

[The] Obama budget is more than just the sum of its parts. There is, entailed in it, a promiscuous unwillingness to set priorities and accept trade-offs. There is evidence of a party swept up in its own revolutionary fervor — caught up in the self-flattering belief that history has called upon it to solve all problems at once.

So programs are piled on top of each other and we wind up with a gargantuan $3.6 trillion budget. We end up with deficits that, when considered realistically, are $1 trillion a year and stretch as far as the eye can see. We end up with an agenda that is unexceptional in its parts but that, when taken as a whole, represents a social-engineering experiment that is entirely new.

The U.S. has never been a society riven by class resentment. Yet the Obama budget is predicated on a class divide. The president issued a read-my-lips pledge that no new burdens will fall on 95 percent of the American people. All the costs will be borne by the rich and all benefits redistributed downward. …

Those of us who consider ourselves moderates — moderate-conservative, in my case — are forced to confront the reality that Barack Obama is not who we thought he was. His words are responsible; his character is inspiring. But his actions betray a transformational liberalism that should put every centrist on notice. As Clive Crook, an Obama admirer, wrote in The Financial Times, the Obama budget “contains no trace of compromise. It makes no gesture, however small, however costless to its larger agenda, of a bipartisan approach to the great questions it addresses. It is a liberal’s dream of a new New Deal.”

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Chris Buckley:

Hold on—there’s a typo in that paragraph. “$3.6 trillion budget” can’t be right.The entire national debt is—what—about $11 trillion? He can’t actually be proposing to spend nearly one-third of that in one year, surely. Let me check. Hmm. He did. The Wall Street Journal notes that federal outlays in fiscal 2009 will rise to almost 30 percent of the gross national product. In language that even an innumerate English major such as myself can understand: The US government is now spending annually about one-third of what the entire US economy produces. As George Will would say, “Well.”

Now let me say: Unlike Rush Limbaugh, I want President Obama to succeed. I honestly do. We are all in this leaky boat together—did I say “leaky”? I meant “sieve-like”—and it would be counterproductive, if not downright suicidal, to want it to go down just to prove a conservative critique of Keynesian economics. …

One thing is certain, however: Government is getting bigger and will stay bigger. Just remember the apothegm that a government that is big enough to give you everything you want is also big enough to take it all away.And remember what de Tocqueville told us about a bureaucracy that grows so profuse that not even the most original mind can penetrate it.

If this is what the American people want, so be it, but they ought to have no illusions about the perils of this approach. Mr. Obama is proposing among everything else $1 trillion in new entitlements, and entitlement programs never go away, or in the oddly poetic bureaucratic jargon, “sunset.” He is proposing $1.4 trillion in new taxes, an appetite for which was largely was whetted by the shameful excesses of American CEO corporate culture. And finally, he has proposed $5 trillion in new debt, one-half the total accumulated national debt in all US history. All in one fell swoop.

He tells us that all this is going to work because the economy is going to be growing by 3.2 percent a year from now. Do you believe that? Would you take out a loan based on that? And in the three years following, he predicts that our economy will grow by 4 percent a year.

This is nothing if not audacious hope. If he’s right, then looking back, March 2009 will be the dawn of the Age of Stimulation, or whatever elegant phrase Niall Ferguson comes up with. If he turns out to be wrong, then it will look very different, the entrance ramp to the Road to Serfdom, perhaps, and he will reap the whirlwind that follows, along with the rest of us.

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Who could possibly have predicted that a red diaper baby community organizer with a life-long record of radical associations would adopt an ultra-left program of taxing and spending? Messrs. Buckley and Brooks obviously weren’t paying attention when they read Dreams from My Father. Obama explains that he learned as an adolescent that he could get away with doing drugs and raising Cain, simply by mollifying the adults in his life by speaking softly and politely.

DFMF, 94-95:

It was the start of my senior year in high school… and one day she [his mother] marched into my room, wanting to know the details of [his friend’s] arrest. I had given her a reassuring smile and patted her hand and told her not to worry. I wouldn’t do anything stupid. It was usually an effective tactic, one of those tricks I had learned: People were satisfied as long as you were courteous and smiled and made no sudden moves. They were more than satisfied; they were relieved — such a pleasant surprise to find a well-mannered young black man who didn’t seem angry all the time.

Sent to my class list this morning in response to the contention that “government had to step in” because capitalism failed, because businessmen “made such a mess.”

Government created a credit crisis by arm-twisting lenders to make uncreditworthy loans while supplying securitization of the same. Government (at more than one level) additionally laid the groundwork for a housing bubble by forcing prices upward by making 30 year financing of home loans universal and easy to obtain and by creating regulatory environments that made building extremely expensive and nearly impossible in some of the housing markets featuring the greatest demand. Government lent people money to fuel bidding wars, while doing everything it could to keep new housing in short supply.

George W. Bush’s administration pursued simple-minded conventional policies attempting to placate the economy with characteristic timidity and inconsistency. Obama has taken the housing-bust induced recession as an excuse to throw funding at every democrat party special interest and constituency and to justify a power grab socializing large segments of the economy. Bush did not succeed in calming economic turmoil largely because he could not persuade the markets that he had not already lost the next election to a democrat party radical. Obama has, in a very short time in office, demonstrated that he isn’t simply a bloviating and benign big city machine crook, but is rather an extreme radical leftwing ideologue philosophically committed to every form of economic destruction. The economy is cratering as a result.

He’ll need to change the tie

The Obama Administration’s constant and ever-increasing attacks on Rush Limbaugh demonstrate perfectly clearly that, at this point in time, there is no more effective and articulate representative of Conservative political thought in America than the genial and talented radio talk show celebrity and that Rush is the single most effective source of opposition to the radical democrat agenda. Rush Limbaugh is the Republican leader that democrats most fear, and decidedly not Michael Steele.

Barack Obama has himself demonstrated in the most effective possible way the ability of the combination of eloquence and personal charm to substitute for a meaningful resume featuring either significant occupancy of, or achievement in, high office.

The conclusion is unmistakable. We should, at once, start grooming Rush Limbaugh as the next GOP presidential candidate. Limbaugh should run for a governorship or senate seat in 2010, and proceed, in precisely the way Barack Obama did, to let his newly acquired seat grow cobwebs, while he pursues higher office.

Running an inexperienced outsider candidate is bound to be something of a long shot, and Rush has a few vulnerabilities, but just compare Limbaugh’s essentially trivial prescription drug scandal with Barack Obama’s raft load of unsavory associations. The press will not treat Rush as clemently as they did the Kenyan Caliban, but Rush Limbaugh has a real genius for counter-framing an issue. Rush can defend himself.

Rush’s sometimes slightly transgressive sense of humor and his entertainer’s style represent admittedly a greater handicap. Americans want their politicians to provide a primary note of dignity and gravitas. But there is time still for Rush to strike a different tone, to present a modified version of himself. Besides, the continuing economic crisis and the practically assured foreign humiliations and debacles that the current administration will inevitably produce are bound to provoke a passionate desire for change on the part of the electorate so strong that any credible and effective GOP candidate will be starting out with a strong hand.

The White House is trying to link the GOP to Rush. Let’s really link them.

Never Yet Melted endorses Rush Limbaugh for President in 2012.

In a move that makes former president Jimmy Carter look manly, Barack Hussein Obama has launched a secret diplomatic initiative aimed a trading European security for a little Russian help with his Iranian problems.

In return for a bit of restraint on Russia’s part in selling rifles to the Indians, the United States would concede the vital Russian strategic interest of being able to conduct its diplomatic relations with Europe at the point of an array of nuclear-tipped ballistic missiles aimed at Europe’s principal population centers.

The Russian News and Information Agency Novosti could scarcely conceal the note of triumph in its news dispatch.

Washington has told Moscow that Russian help in resolving Iran’s nuclear program would make its missile shield plans for Europe unnecessary, a Russian daily said on Monday, citing White House sources.

U.S. President Barack Obama made the proposal on Iran in a letter to his Russian counterpart, Dmitry Medvedev, Kommersant said, referring to unidentified U.S. officials.

Iran’s controversial nuclear program was cited by the U.S. as one of the reasons behind its plans to deploy a missile base in Poland and radar in the Czech Republic. The missile shield has been strongly opposed by Russia, which views it as a threat to its national security. The dispute has strained relations between the former Cold War rivals, already tense over a host of other differences.

The leaders have exchanged letters and had a telephone conversation since Obama was sworn into office in January, Kommersant said. The first high-level Russia-U.S. meeting will take place later this week, when Russian Foreign Minister Sergei Lavrov meets with U.S. Secretary of State Hillary Clinton in Geneva.

Moscow has not yet responded to the proposal by Obama, the paper said, adding that a decision was unlikely to be made during Lavrov and Clinton’s meeting.

Maybe it’s not enough, Barack H.. Why don’t you try offering to give them back Alaska, too?