Thursday, November 20, 2008

Is this, in part, the Obama Recession?

I cannot say that this is the Obama Recession, but is worry about what will be coming our way post-inauguration exacerbating the crisis? After all, Obama has said he will look to Franklin Roosevelt's do-somethingist empiricism for inspiration.

To many of us, that carries undertones of punitive treatment of business, class warfare, cartelization, and intervention for intervention's sake. Already during Obama's campaign we were treated to health care and health insurance reform proposals the effect of which would be (and the intent of which almost must be) not to fix the market but to destroy it, a plan that would fit right in with the NRA and AAA. We also know these days that uncertainty and fear of Roosevelt and the New Dealers caused businesses to sit on cash instead of re-invest. Is Obama scaring investors? Is he making things worse? Should he already be taking Jonah Goldberg's advice, to stop, back off, and shut up?

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