I do not expect conditions to improve for the middle class in the next 4 years. Another recession is more likely. Higher oil prices are more likely. The continued departure of members of the middle class headed either up or down seems more likely. The middle is not holding.
Comment:
I'm inclined to disagree. But Parker correctly called the 2008 election. It seemed incredulous to me that Obama could win in 2008, but that's what happened.
The reason for Obama's win was the perceived failure of the Bush Administration. Democrats had been harping for 8 long years about the guy, and finally, at the end of it, the economy seemed to be collapsing. The collapse cemented the impression of failure. In other other words, Obama swerved into it.
Parker believes in the peak oil theory. With what I've found out about the potential reserves of oil, this is nonsense. Not to mention that there are several promising avenues of research into energy security. Plus, there is already a proven way to improve nuclear energy--- molten salt reactors. If Romney is elected, hopefully, he will move on this. If he doesn't, he will be making a mistake. Secondly, he will definitely move on fossil fuels. You can rate this as a 100% probability. But, you can also rate as a 100% probability of Democrat obstruction for any proposal that might work, including this or any other private energy initiative. Therefore, it is a political peak oil problem, not just peak oil.
The way to change that is to change the political system. The current one is broken.
But Parker wants Obama to win in order to teach the masses a lesson:
It is probably better in the long run if Obama gets elected because then when conditions worsen for the middle and lower classes people will come to understand that even a supposed champion of the lower classes can't or won't help them. Now there's still widespread misunderstanding about why living standards are declining. Having a Democrat in charge will go further toward spreading the understanding that deep economic fundamentals are working against the shrinking American middle class.
Yes. I saw that kind of reasoning in 2008. I don't think you win by losing. Better if Obama wasn't elected at all. Much less being re-elected.
This isn't a pro Romney post, nor any post on this blog should be seen as pro Romney. If he is elected, he will have to be watched. If he comes through, he could make a real difference for the better. But if he doesn't, we will be on the Highway to Hell. Not just metaphorically, but in reality. We've got one more chance to get it right.
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