“Trickle Down Communism”


GWB did a nice John Crouton impression ce soir, taking his case for a bailout straight to the people earlier this evening, apparently because he felt that situation has reached a critical stage.

I doubt it did much to persuade Bill Perkins, the brains (and moolah) behind yesterday’s full-page piece of citizen activism in the NY Times. The Journal had a neat little profile of Perkins today: he made a small fortune betting that Goldman Sachs would do ok, but he’s so outraged by the reasons why the stock rose that he’s decided to blow it on ads denouncing the feds.

“I see it as trickle-down communism,” Mr. Perkins said. “We have a communist action where everybody is paying for the benefit of the few and hoping the benefits will trickle down to everyone else.”

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“Trickle Down Communism”

  1. Just so we’re clear:

    In order to avoid a recession and major economic risk, the federal government must throw US$700 BILLION of present and future taxpayer wealth at a problem.

    And sucking that much wealth out of the economy is supposed to be risk free?

    And the message that sends — if you’re a big business, it’s ok to go stupid, but if you’re a stupid business, you’d better get big — has no cost?

    Since when did it become illegal to have a recession anymore, and how much theft from the future will be tolerated to achieve this recession-proof present?

    So long, capitalism. It was fun while it lasted.

  2. Indeed. The die-hard politicos on my site were waning on about how the free market “works” because of times precisely like this, rather than “despite” times like this.

    This utter sham of a bailout has shown American capitalism for what it truly is: a ruse. A curtain behind which the great wizard booms and shouts and impresses the masses with his great fancy tricks and inspiring palace.

    But when the curtain falls, and the people see American capitalism for the blood-sucking corporate credit bubble it truly is… well, it makes me wish that Jesus Christ wasn’t a fictitious story so that he could return to throw the money lenders from the temples.

    And the “little guy” who now has earned an $80,000 debt thanks to the leadership of what he thought was fiscal conservatism when he voted for it, now realizes his bankrupt country is on the verge of possibly electing a 1-2 punch that make Bush-McCain look like competent stalwarts in comparison.

    Truly it is not a good time to be a working schlep in the cities of America right now. The Bolshevik revolution begins in earnest.

  3. I don’t think it’s called communism when the means of production own the State.

  4. I think Perkins is a bit confused if he’s railing against communism but supports Obama.

    What I most like about this story is that a private citizen gets to participate in the election. Officials are being asked what they think of his ad.

    Must be nice because up here people who could afford something like this are not allowed to do so by law. I think it’s appalling how far election laws go to keep the hoi polloi from participating in our elections.

    I wonder if this is going to be a watershed moment for how Washington operates because the pols are up to their neck in money from Wall St, Freddie/Frannie … etc.

    I don’t think american people trust pols to figure this out anymore than they do Wall St. It’s a very cozy relationship between Wall St and Washington and I am not surprised many populist repubs are against this bailout in any form.

  5. More of a Paul Martin, wasn’t it? Desperate last-minute address to the nation a la sponsorship scandal?

  6. Well, kind of. Except not at all.

  7. jwl,

    Just so we’re clear though, I’m not sure this Perkin’s guy exactly fits in as the “hoi polloi”.

    The guy made $1.25 million in profit last week and decided he DIDN’T REALLY NEED IT.

    Which is not to say that Canadian elections laws couldn’t be less stringent on what a private citizen is allowed to do. I just wouldn’t necessarily use Bill Perkins as a poster boy. “Canadian uber-rich energy traders are unfairly disadvantaged by our elections laws” isn’t exactly a winning tagline! While “People should be able to spend their money however they see fit” is a great ideal, if our systems of governance really worked that way there’d hardly be a reason to even keep up the pretense of democracy.

  8. @Emma: Remember Crouton waking up and realizing he’d been dozing through the 95 referendum and deciding to commandeer the airwaves to plead for unity? Pretty ugly.

  9. Give it up, jwl. I think this proves beyond a doubt that the GOP is at least as big government than the Democrats ever were. Even more, in fact. We’ve always known it about social policies, and now it’s crystal clear it’s about economic as well. No one with any sense would evercall the Bush Sr, or Bush Jr, administrations, small government.

    The problem with wannabe libertarians like you is you have this idea in your head the liberals are weak sissies and conservatives are cool that you refuse to actually look at policies. You’re just like every Che-tshirt-wearibg first-year university student.

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