Musings on the New Emperor

We used to take it on faith that an independent Judicial Branch and an independent Fed were important principles forming part of the foundation of trust in American institutions. So it is very disturbing to see the choreographed events taking place this past year in American politics. First we had the President of the United States in his State of the Union address, one of the most visible forums in politics, excoriating the Supreme Court, a co-equal branch of government, for one of its rulings (and one having to do with free political speech no less). Also note that it was a forum in which the accused did not have a possibility of replying to the slight. More recently, somehow the “President” had the Fed Chief, Helicopter Ben Bernanke at his side in the White House to back him up on what a wonderful job he and the Demunists were doing with the economy. I believe it was the first time a Fed Chief has been brought to heel in such a way, ever. Bernanke could not even bring himself to raise his eyes. He was supremely uncomfortable, and so he should have been. Such a display of course begs the question of the Fed’s independence from political pressure. There is some correlation here with Gold breaching 1200/ounce in dollar terms and surpassing the price of the S&P500 index.

For some on the left the answer is to give Obama the dictatorial powers he craves so he can “fix” our problems with his omniscient set of advisers (who have the least real-world experience of any set of presidential advisers ever). One of these was Woody Allen I admit but one was Thomas Friedman, a supposedly serious journalist with the NY Times. Yeah, great idea. Is it any wonder that we have an ongoing crisis of confidence? Or that the public approval of its legislators is at its lowest ebb? Things will turn up once confidence returns. Confidence will return once these clowns (we actually elected an actual clown to the Senate from my home state, and from my own high school) are sent packing and the ratio of those who are minimally serious and competent in Washington rises above the 10% or so it numbers currently.

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