Thursday, October 17, 2013

The Tea Party Victory

We cannot see the forest because of the trees. The prevailing wisdom “from the trees” is that the Tea Party lost. The Tea Party “kamikazes” in the Senate and Congress donned their “suicide vests” and fumbled the partial federal government shutdown and the debt ceiling negotiations.

I see it quite differently “from the vantage point of the forest:” The Tea Party has denied President Obama his long term goal of creating a positive-rights European-style entitlement state.  The Tea Party changed the conversation from fundamental change, massive second stimuli, investment banks, national value added, fuel, and carbon taxes to sequestration and haggling over nickels and dimes of federal spending, and forced the Obama administration to gamble its second term (and legacy) on the unlikely success of Obama Care, which every Democratic member of Congress now personally owns.

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  1. Tea Part victory vs. Republican defeat

    Focus on 'debt' (stock) defies economic logic. Decisions are made at the margin (flow).

    2014 election acid test: Who will be the Speaker of the House (Pelosi or a Republican)?

    p,s., Ted Cruz is still a Canadian citizen. "not that there's anything wrong with that" ( the 57th episode of the sitcom Seinfeld. )

  2. Charlie Munger (Republican) and Warren Buffett (Democrat)

    FORTUNE -- Fighting about the debt ceiling "ought to be banned as a weapon," says Warren Buffett. "It should be like nuclear bombs: too horrible to use."
    "It's deeply immoral," adds Charlie Munger, vice chairman of Berkshire Hathaway (BRKA), where Buffett is chairman and CEO. Munger calls the recent U.S. government shutdown "deeply irresponsible" and says, "I think if my Republican friends keep doing this, they're going to pay a terrible price."

  3. Good to know about this Tea party victory. I am impressed. My mom’s birthday was in last month and we also threw a surprise tea party at her favorite garden party venue NYC for her. It was just brilliant evening and she loved my surprise.