Bad economic news has proven good news for the left, who first used public dissatisfaction over the economy to win the election last November, and who have since gleefully taken every market plunge and corporate insolvency as the basis for another power grab.
Russ Smith observes the happy leftwing American elite making hay while clouds fill the sky.
Thereâ€™s presently a school of thought, mostly among the liberal intelligentsia, that the devastating recession has morphed from sheer panic to sour resignation throughout the nation. As a result, weâ€™re now seeing the first wave of magazine and newspaper articles that assess the wreckage and grandly speculate upon the future of American society. This â€œfirst draft of historyâ€ is prematureâ€”in fact, the Las Vegas-tinged economy, where the rules are constantly changing, remains enveloped in gut-wrenching uncertaintyâ€”but Iâ€™m not an armchair sociologist with a sinecure at a prestigious university or think tank, or insulated by the downturn from inherited wealth or celebrity.
These pundits, left-leaning economists, and other designated â€œexperts,â€ differ on the precise ramifications of the vanished â€œAmerican Dream,â€ but the crux is similar: weâ€™re entering a long, long era of reduced expectations and simpler way of life. Considering the sourcesâ€”and academia is the epicenterâ€”itâ€™s not surprising that â€œReaganismâ€ is now a filthy word, Wall Street money-grubbers are and will be considered pariahs on the order of pornographers and ambulance-chasing lawyers, and high taxes are both necessary and desirable. An element of this commentary is the lingering resentment of the Bush yearsâ€”the â€œstolenâ€ election of 2000, Kerryâ€™s loss in â€™04, and the supposed philistinism of the former presidentâ€”but the larger theme is, hey, weâ€™re now in charge!
Hat tip to Bird Dog.