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The right does not have a monopoly on shock doctrine tactics. In the short term the impact on the stock market will be catastrophic, "confidence" will suffer, but if he does it quickly enough people will still associate it with the aftermath of the Bush years.
He then has three years to rebuild the economy on a much more sustainable base... if he is not assassinated first
notes from no w here
Obama needs a story line to detoxify the centrally managed (spelled "socialistic") element of a mixed economy, and get people fired up, for ghange that's more than an economic emergency rescue. Without the unifying narrative,--the theater part of the equation-- strategy, even shock strategy could lead to a deeply authoritarian shift.
He also needs fewer blue-dog dems, and a veto-proof senate.
Dear Santa, --
Capitalism searches out the darkest corners of human potential, and mainlines them.
If Obama appoints Judd Greg as Commerce Secretary, the likely outcome is another Obama leaning replacement Senator from New Hampshire giving a filibuster proof majority in all but name. Democrats are also well placed to increase their majority in 2010, although, as they say, 2 years is a long time in politics.
Obama's majority in the house is also sufficient to overcome blue dog resistance and I do not doubt Obama's communication skills in being able to change the dominant narrative from the Reaganite "Government is the problem" to the progressive Government is the solution.
Obama's biggest problem is managing the decline in the USA's position as the world's sole Superpower and the hyperventilating theatrics this will inspire in the right wing. If the Economy is still in trouble in 3/4 years time, Obama is in big trouble, and may take the fall for problems he never created.
However if he can stabilise the economy - even at a much lower rate of growth - create jobs, improve healthcare and deliver on most of his promises he should be a shoo-in for 2012.
notes from no w here
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