Day: August 30, 2011

Perry’s Millions

Rick Perry has quite a nose for land speculation:

Discharged from the Air Force in 1977 aged 27, he was elected to the Texas House of Representatives seven years later, in 1984. At that time, the Perry family reported income of $45,000, largely from Mrs. Perry’s work as a nurse.

[…]

in 1993, there was a piece of ground that computer billionaire Michael Dell needed to connect his new house near Austin to city water mains. Dell neglected to appreciate the land’s importance. But Perry did discern it. He bought the land for less than $120,000 – then sold it to Dell two years later for a $343,000 profit. Uncanny.

[in the 2000s] A Texas real estate developer sells land to a Texas state senator – the senator who happened to represent the development’s district. The state senator sold the land to Gov. Perry. Gov. Perry then sold then land – back to the real estate developer’s business partner. Perry scored a profit of $823,000.

These are his real GOP bona fides: living the concept that political power is only to be used for enrichment of self and then, where possible, your richest and therefore most generous supporters, be they actual biological persons or the frequently GOP-personified corporate interests. The policy outcomes of this stance, whatever they may be, are entirely beside the point beyond their utility in enriching self or key supporters.
After all, the GOP goes out of its way to prepare the populace for the repeated failure of government, it delights every time a corruption scandal comes to light, and it uses said failures and scandals to further weaken the operation of government, sand the legislative gears, and generally hamstring government oversight, all to better enable their preferred uses of political power: enrichment of self and key supporters. There is no third thing. Anybody not already in on the deal can kindly go die in the streets.

Perry’s Millions

Results [matter]. If I were the one in charge of this pop stand, I’d direct my economics team to come up with the “If I were a prime minister instead of a president, this is what we would do” plan. And if all they came up with was minor tax breaks for hiring, “patent reform,” and “trade deals,” I’d, you know, fire them.

Duncan Black, being exactly right. The key thing that needs to happen in the immediate future (e.g. the imminent “jobs speech”) is for Obama to set the stage such that the eventual legislative outcome makes very clear exactly who is obstructing economic growth and recovery efforts.
The only way to do this is to swing for the fences and wait for the GOP to obstruct it. Not only does this paint the GOP as the party of economic obstruction, it also allows the eventual compromise to be closer to your “dream plan” than it is to whatever constitutes a GOP “go die in the streets” policy outcome. By taking the traditional “sensible Obama” defensive crouch approach and starting with the bar set at the lowest possible level (e.g. what they think might pass the House) all in the vain hopes that this time the GOP will suddenly start playing along for America, you’re actually only working to guarantee an outcome that favors the GOP in every way, politically, economically, and (most importantly for Obama) in 2012.
Once again: This is why they fail.

On the bright side.

ilyagerner:

A world without functioning traffic signals is preparing me for Ron Paul’s America. So far, lots of accidents, not much in the way of the emergent order that I’ve been promised.

I feel like this is almost certainly a confidence issue. The emergent order knows, deep down, that an alphabet soup of government regulatory agencies will soon descend upon said nascent and entirely beneficent order and smother it with numerous laws, storm taxes, and a litany of entirely new regulations, each of which are longer than War and Peace and several other books people have likely heard of. Thus, unwilling to pay taxes on purchases of new windows and fresh carpet and power lines and so forth, people will simply sit there and pine for Our Galtian Overlords to get on with it already. Ergo: It’s just the rationality of markets you are witnessing.