By Matt Taibbi, Random House Publishing Group
Posted on November 14, 2010, Printed on November 15, 2010
There are two reasons why Tea Party voters will probably never get wise to the Ponzi-scheme reality of bubble economics.
One has to do with the basic sales pitch of Tea Party rhetoric, which cleverly exploits Main Street frustrations over genuinely intrusive state and local governments that are constantly in the pockets of small businesses for fees and fines and
permits.
The other reason is obvious: the bubble economy is hard as hell to understand. To even have a chance at grasping how it works, you need to commit large chunks of time to learning about things like securitization, credit default swaps, collateralized debt obligations, etc., stuff that's fiendishly complicated and that if ingested too quickly can feature a truly toxic boredom factor.
So long as this stuff is not widely understood by the public, the Grifter class is going to skate on almost anything it does -- because the tendency of most voters, in particular conservative voters, is to assume that Wall Street makes its money engaging in normal capitalist business and that any attempt to restrain that sector of the economy is thinly disguised socialism.
That's why it's so brilliant for the Tea Party to put forward as its leaders some of the most egregiously stupid morons on our great green earth.
By rallying behind dingbats like Palin and Michele Bachmann -- the Minnesota congresswoman who thought the movie Aladdin promoted witchcraft and insisted
global warming wasn't a threat because "carbon dioxide is natural" -- the Tea Party has made anti-intellectualism itself a rallying cry.
The Tea Party is arguing against the very idea that it's even necessary to ask the kinds of questions you need to ask to grasp bubble economics.
Posted on November 14, 2010, Printed on November 15, 2010
There are two reasons why Tea Party voters will probably never get wise to the Ponzi-scheme reality of bubble economics.
One has to do with the basic sales pitch of Tea Party rhetoric, which cleverly exploits Main Street frustrations over genuinely intrusive state and local governments that are constantly in the pockets of small businesses for fees and fines and
permits.
The other reason is obvious: the bubble economy is hard as hell to understand. To even have a chance at grasping how it works, you need to commit large chunks of time to learning about things like securitization, credit default swaps, collateralized debt obligations, etc., stuff that's fiendishly complicated and that if ingested too quickly can feature a truly toxic boredom factor.
So long as this stuff is not widely understood by the public, the Grifter class is going to skate on almost anything it does -- because the tendency of most voters, in particular conservative voters, is to assume that Wall Street makes its money engaging in normal capitalist business and that any attempt to restrain that sector of the economy is thinly disguised socialism.
That's why it's so brilliant for the Tea Party to put forward as its leaders some of the most egregiously stupid morons on our great green earth.
By rallying behind dingbats like Palin and Michele Bachmann -- the Minnesota congresswoman who thought the movie Aladdin promoted witchcraft and insisted
global warming wasn't a threat because "carbon dioxide is natural" -- the Tea Party has made anti-intellectualism itself a rallying cry.
The Tea Party is arguing against the very idea that it's even necessary to ask the kinds of questions you need to ask to grasp bubble economics.
source: Newsgroups: alt.politics, can.politics, alt.politics.democrats, alt.politics.republican
From: "klunk" <kl...@theothershoo.org>
Date: Mon, 15 Nov 2010 23:25:09 -0800
Local: Tues, Nov 16 2010 2:25 am
Subject: the Tea Party Moron Complex
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