March 30, 2009
Banana Republic Economics
Mary Anastasia O'Grady sees a reflection of Latin American Economics as the current Congress and White House use the crisis (Hayek, call your office!) to expand government control over the finance system. Her expectation of its playing out in Mexico seems a shadow of how I expect it to play out here:
There the Institutional Revolutionary Party (PRI) ruled a corporatist state for 70 years and finally got voted out in 2000. Now, the old guard of the party is trying to launch a comeback. While most Mexicans see the economic contraction as a crisis, PRI "dinosaurs" (not unlike White House Chief of Staff Rahm Emanuel) view it as an opportunity. It offers them a chance to regain power and again practice the potent politics of economic nationalism.
I wasn't thinking of Mexico, but rather Venezuela. Not that there's a hell of a lot of difference, between the two or between either and Obama's African Marxism.
And The One will no doubt follow further in Chavez' footsteps. If not sooner, then starting on November 6, 2012, there will be a push to repeal the two-term limit. You'll see marches and "get out the (corrupt) vote" efforts, organized by the likes of ACORN and the Black Panthers, to make Obama's 2008 campaign look as flaccid as Dole-Kemp '96.
Posted by: Perry Eidelbus at March 31, 2009 12:45 PM | What do you think? [1]