Thursday, March 27, 2008

Hillarynomics 101.

Hillary just gave a speech on economics. It was the usual modern Marxist variant: Class warfare between the middle class (the proletariat) and abstract corporate entities (the bourgeoisie) is the dominant characteristic. One thing she noted was that growing industries have salaries that are on average 11% less than stagnant industries. The deduction that Hillary seemed to make was that the growing industries were exploiting their workers. This morphed into a need to make corporations pay their fair taxes. What Hillary didn't say was that most of the stagnant industries with good salaries and benefits are locked into a death grip by unions.

Both McCain and Hillary talked about the mortgage mess. Certainly this was a result of loosening credit standards, which created a housing bubble that was the bulk of the growth during the Bush years. Prior to that, the Clintons were geniuses due to the Dot-com bubble. Now what do we do? Hillary would do more bailing out. McCain offers more tough-love. Certainly we need to clean up the economic mess, but neither offers a vision beyond this. What is holding the economy back? Reagan knew.

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