Wow, it’s been a couple of weeks since I’ve had time to write a post–and what a difference a couple of weeks can make. Since my last post, Scott Brown won the U.S. Senate seat once occupied by Ted Kennedy in the bluest of blue states, Massachusetts, and the White House officially declared war on Wall Street. There’s lots of great commentary (and spin) out there on the web as to why Brown was able to win and what the ramifications are for the Democratic leadership and the White House. He ran a great campaign and he was an outstanding candidate. But at the end of the day, the United States is a center-right country. The majority of Americans put a premium on individual liberty. They want government out of their lives. They don’t want high taxes to fund social welfare. They work hard to support their families and want to keep their own money. They also realize that one of the few roles of government, as outlined in the U.S. Constitution, is to provide for the common defense. Brown’s campaign embodied this while Martha Coakley’s campaign effectively stood for the opposite (large government, weak defense). The election in Massachusetts was clearly a repudiation of the White House and the Democratic leadership–of Obama care, cap and trade, giving Constitutional rights to terrorists, and massive spending binges. President Obama’s interview with George Stephanopoulos where he blamed the Brown victory on President George W. Bush was absurd. What is mind-boggling is that some social democrats actually believe this. Others, like Paul Krugman, think that President Obama’s agenda hasn’t been left-wing enough–pretty amazing.
Apparently 77% of investors view President Obama as anti-business. Frankly, I’m surprised the figure isn’t much higher with his penchant for high taxes and excessive regulation. Let me explain something that gets neglected by the MSM. Social democrats like to engage in class warfare. That’s their bread and butter–to create antipathies throughout society based on income. They use this to push for public policies that redistribute wealth. “Wall Street v. Main Street” is their catch-phrase of choice these days–”fat cat bankers” is Obama’s personal favorite, though. The reality is that when Wall Street suffers Main Street suffers, too. For anyone who has a 401(k) or other investment plan that invests in stocks, mutual funds, or bonds–they have a vested interest in Wall Street doing well. As a result, we should all be concerned about the White House’s war against Wall Street.