What is the economic outlook if Bernie wins? (Investing my 401k accordingly, natch. :)
Interestingly, she's certain that a bunch of Dems will defect if Sanders wins, presumably she is hoping the migrate to the Republicans where they will join forces with the moderates?
Shag
On Mon, Feb 8, 2016 at 12:41 PM, Charles Brown <cb31450 at gmail.com> wrote:
> WSJ probably understand Marx, a Engels and Lenin better than most
> "Marxists."
>
> Sent from my iPhone
> >
> >> On Fri, Feb 5, 2016 at 11:49 AM, Marv Gandall <marvgand2 at gmail.com>
> wrote:
> >>
> >> A surprisingly sober look by Wall Street Journal columnist and former
> >> Reagan speechwriter Peggy Noonan at the Sanders movement and the
> >> receptivity to “socialist” ideas of many young adults whose only
> experience
> >> of capitalism is that it “drove us into a ditch”.
> >>
> >> “It’s all part of the great scrambling that is happening this political
> >> year—the most dramatic, and perhaps most consequential, of our
> lifetimes.”
> >>
> >> (Behind a paywall)
> >>
> >> Socialism gets a second life
> >> By Peggy Noonan
> >> Wall Street Journal
> >> January 29 2016
> >>
> >> Nashua, N.H.
> >>
> >> I was watching Bernie Sanders speak last week at a town hall in Bedford
> >> when an early intuition became a conviction: Take Mr. Sanders
> seriously. He
> >> is not just another antic presence in Crazy Year 2016. His rise
> signifies a
> >> major shift within the Democratic Party.
> >>
> >> The big room was full, 700 to 800 people, good for 5 p.m. on a Friday.
> The
> >> audience wasn’t raucous or full of cheers as at his big rallies, but
> >> thinking and nodding. They were young and middle-aged, with not many
> >> white-haired heads. There was a working-class feel to them, though
> Bedford
> >> is relatively affluent.
> >>
> >> “Let me disabuse you,” Mr. Sanders says to those who think he cannot
> win.
> >> He quotes New Hampshire polls, where he’s way ahead. He can defeat
> Donald
> >> Trump,he says.
> >>
> >> Then the meat. He described America as a place of broad
> suffering—“student
> >> debt,” “two-job families” with strained marriages and insufficient child
> >> care, “the old on fixed incomes.”
> >>
> >> We can turn it around if we make clear to “the billionaire class” that
> >> income inequality “is not moral.” The economy is “rigged.” Real
> >> unemployment is not 5% but twice that. “Youth unemployment is off the
> >> charts.” He wants job-training programs for the young. The minimum wage
> is
> >> “a starvation wage.” Raise it to “a living wage—15 bucks an hour.”
> >>
> >> The audience is attentive, supportive. “Yeah!” some shout.
> >>
> >> He speaks of Goldman Sachs, of “banksters” and of a Republican Party
> owned
> >> by “the oil industry, coal industry.”
> >>
> >> “Health care is a right of all people, not a privilege.” He asks if any
> in
> >> the audience have high-insurance deductibles. They start to call out:
> >> “$4,000,” “5,000,” “6,000!” Someone yells: “Nothing’s covered!”
> >>
> >> No one mentions ObamaCare, but it seems clear it hasn’t worked here.
> >>
> >> Mr. Sanders says people don’t go to the doctor when they’re sick because
> >> of the deductibles. “Same with mental-health care!” a woman calls out.
> >> “Mental-health care must be considered part of health care,” he
> responds,
> >> to applause. He is for “a Medicare-for-all, single-payer system.”
> >>
> >> How to pay for it all? “Impose a tax on Wall Street speculation,” he
> says,
> >> briefly. He does not elaborate and is not pressed to.
> >>
> >> Mr. Sanders’s essential message was somber, grim, even dark. It’s all
> >> stark—good guys and bad guys, angels and devils. But it’s also clear and
> >> easy to understand: We are in terrible trouble because our entire
> system is
> >> rigged, the billionaires did it, they are the beneficiaries of the
> biggest
> >> income transfer from the poor to the rich in the history of man, and we
> are
> >> going to stop it. How? Through “a political revolution.” But a soft one
> >> that will take place in voting booths. We will vote to go left.
> >>
> >> As the audience left they seemed not pumped or excited, but satisfied.
> >>
> >> I listen to Mr. Sanders a lot, and what he says marks a departure from
> the
> >> ways the Democratic Party has been operating for at least a generation
> now.
> >>
> >> Formally, since 1992, the Democratic Party has been Clintonian in its
> >> economics—moderate, showing the influence of the Democratic Leadership
> >> Council. Free-market capitalism is something you live with and accept;
> the
> >> wealth it produces can be directed toward public programs and endeavors.
> >> The Clinton administration didn’t hate Wall Street, it hired Wall
> Street.
> >> Big government, big Wall Street—it all worked. It was the Great
> >> Accommodation, and it was a break with more-socialist approaches of the
> >> past.
> >>
> >> All this began to shatter in the crash of 2008, not that anyone
> noticed—it
> >> got lost in the Obama hoopla. In March 2009, when Mr. Obama told Wall
> >> Street bankers at the White House that his administration was the only
> >> thing standing between them and “the pitchforks,” he was wittingly or
> >> unwittingly acknowledging the Great Accommodation.
> >>
> >> The rise of Bernie Sanders means that accommodation is ending, and
> >> something new will take its place.
> >>
> >> Surely it means something that Mr. Obama spent eight years insisting he
> >> was not a socialist, and Bernie Sanders is rising while saying he is
> one.
> >>
> >> It has left Hillary Clinton scrambling, unsteady. She thought she and
> her
> >> husband had cracked the code and made peace with big wealth. But her
> party
> >> is undoing it—without her permission and without her leading the way.
> She
> >> is meekly following.
> >>
> >> It is my guess that Mr. Sanders will win in Iowa and New Hampshire. But
> >> the tendency he represents—whether it succeeds this time or simply
> settles
> >> in and grows—is, I suspect, here to stay.
> >>
> >> A conservative of a certain age might say: “No, he’s a fad. Socialism is
> >> yesterday! Marx is dead, the American economic behemoth rolled over and
> >> flattened him. Socialism is an antique idea that rocks with age.
> America is
> >> about the future, not the past.”
> >>
> >> I disagree. It’s back because it’s new again.
> >>
> >> For so many, 2008 shattered faith in the system—in its fairness,
> >> usefulness and efficacy, even in its ability to endure.
> >>
> >> As for the young, let’s say you’re 20 or 30, meaning you’ll be voting
> for
> >> a long time. What in your formative years would have taught you about
> the
> >> excellence of free markets, low taxes, “a friendly business climate”? A
> >> teacher in public high school? Maybe one—the faculty-lounge eccentric
> who
> >> boycotted the union meetings. And who in our colleges teaches the
> virtues
> >> of capitalism?
> >>
> >> If you are 20 or 30 you probably see capitalism in terms of two dramatic
> >> themes. The first was the crash of ’08, in which heedless, irresponsible
> >> operators in business and government kited the system and scrammed. The
> >> second is income inequality. Why are some people richer than the richest
> >> kings and so many poor as serfs? Is that what capitalism gives you? Then
> >> maybe we should rethink this!
> >>
> >> And Mr. Sanders makes it sound so easy. We’re rich, he says; we can do
> >> this with a few taxes. It is soft Marxism. And it’s not socialism now,
> it’s
> >> “democratic socialism” like they have in Europe. You’ve been to Europe.
> >> Aside from its refugee crisis and some EU problems, it’s a great place—a
> >> big welfare state that’s wealthy! The French take three-hour lunches.
> >>
> >> Socialism is an old idea to you if you’re over 50 but a nice new idea if
> >> you’re 25.
> >>
> >> Do you know what’s old if you’re 25? The free-market capitalist system
> >> that drove us into a ditch.
> >>
> >> Polls show the generation gap. Mr. Sanders does poorly among the old.
> They
> >> remember socialism. He does well among the young, who’ve just
> discovered it
> >> and have little to no knowledge of its effects. A nationwide Marist
> poll in
> >> November showed Mr. Sanders already leading Mrs. Clinton, 58% to 35%,
> among
> >> voters under 30. She led him among all other age groups, and 69% to 21%
> >> among those 60 and older. By this month a CBS/New York Times poll had
> Mr.
> >> Sanders up 60% to 31% among voters under 45.
> >>
> >> Bernie Sanders is an indicator of the Democratic future. He is telling
> you
> >> where that party’s going. In time some Democrats will leave over it, and
> >> look for other homes.
>
>