Rob Bennett, who writes on investment strategies at DBKP (Death By 1,000 Papercuts), predicts that not only is Sarah Palin going to end the economic crisis, but she may even accomplish that daunting task "before she becomes President":
There’s an old saying that argues that “you cannot con an honest man.” That’s what Palin is getting at when she says that we need to focus more on the personal responsibility aspects of today’s crisis.Despite Bennett's astonishing prediction, Gov. Palin has never claimed to be able to single-handedly solve the nation's economic problems. While her common sense recommendations for turning the nation's economy around are prudent, Bennett's prediction is less so. If he wants to climb onto a limb and saw it off, as DBKP's editors suggest, it's not fair to the governor for him to drag her out there with him. His full post is here.
[...]
The amount of overvaluation in the stock market in January 2000 was $12 trillion. A free market economy cannot take a $12 trillion hit without it doing serious damage to all of our plans for the future and even to our confidence in our system of government,. The Crony Capitalists who push Buy-and-Hold are not terribly concerned about the human misery they have caused. They have their own problems.We are on our own re this one.
We can do this! We don’t need the “experts” to tell us how to invest. Common sense is what works. Common sense tells us that we should not have stayed with heavy stock allocations when stocks were priced to provide a long-term negative return. There aren’t too many politicians today who have what it takes to dare to say that out loud. Governor Palin is friends with real live people who are suffering real live pain as a result of this crisis. That makes a difference.
Common sense may not be spoken today because it has come to represent a threat to people who are making huge amounts of money persuading people to ignore its call. But all signs are that things are going to start unraveling fast after the next crash. Governor Palin is the only political leader I can think of who is today positioned to be able to retain people’s confidence when the work of our betters leads to its inevitable bad end.
Palinomics is going to be comprised of one part common sense and one part personal responsibility and one part optimism and one part courage. In today’s United States, that’s a winning combination that no other politician appears to be willing or able to advance. It gets us back to a free market system that works.
Update: Rob Bennett replies in the comments to this post.
- JP
Thanks for noting the post. Josh.
ReplyDeleteThe prediction is going to strike some people as "out there." I get that. I hope that some Palin supporters will remember that there were people who thought her decision to give up the Governorship was a bad thing. Governor Palin is sometimes able to see things that some others are not able to see; unconventional is not always bad. I hope this ends up being a situation where that ends up being the case.
I certainly do not mean to suggest that Governor Palin has made any claims to being able to end the economic crisis. She obviously has not done so. My hope is that some Palin supporters will at some point bring this matter to her attention and that she will see the wisdom in it. My guess is that this all may happen following the next stock crash. A lot of middle-class people are going to be hurting at that point and the threat to our free market economy from those who oppose it is going to be very serious at that point.
Thanks for the work you do at the site. I had lost interest in politics until Palin arrived on the scene. I remember the night she gave the convention speech as the night I regained hope that politics could be a force for good in our nation. You are helping lots of people with the work you do here and I am certainly grateful.
Rob