Posted on 03/04/2009 12:44:36 PM PST by NewJerseyJoe
Atlas is done with merely shrugging. Atlas is raging. The Ayn Rand novel, "Atlas Shrugged" is much in the news this week because of the absolutely fantastic rant on CNBC the other morning by on-air editor Rick Santelli.
I happened to be watching CNBC when this all took place, although I suspect this may become one of those thinks like Woodstock which, over the years, seven million baby boomers have proclaimed they were in attendance.
This was the morning after President Obama had announced his plan to save the housing industry by helping bail out people who weren't making their payments - or who were struggling to make their payments.
The New York Times described it thus: "Mr. Santelli is normally a strait-laced newsman; he has reported live from the Chicago Board of Trade for 10 years. But in an appearance on the morning show 'Squawk Box' on Thursday, he suggested a 'Chicago Tea Party' to protest the administration's housing plans."
The three principal points of the President's plan - according to the official executive summary - are:
1. Refinancing for Up to 4 to 5 Million Responsible Homeowners to Make Their Mortgages More Affordable
2. A $75 Billion Homeowner Stability Initiative to Reach Up to 3 to 4 Million At-Risk Homeowners
3. Supporting Low Mortgage Rates By Strengthening Confidence in Fannie Mae and Freddie Mac
Remember Joe the Plumber? He became a media star because he asked candidate Obama about his tax plan. After a fairly reasonable answer, Obama said, "I think when you spread the wealth around, it's good for everybody."
It was not at all clear that Obama was talking about being Robin Hood at the time, but this housing plan certainly makes it seem that in the Obama world, taking from the rich to help the poor can stay in houses they couldn't afford when they bought them, can't afford now, and won't be able to afford under Obama's plan is a worthy goal.
This, in addition to the TARP program rushed through in the waning days of the Bush Administration and the stimulus package rammed through in the opening days of Obama's are absolutely counter to the theses in the Ayn Rand novels - especially Atlas Shrugged.
Santelli said, from his usual location in Chicago, that the plan was "rewarding bad behavior." At one point he compared it to Cuba saying before the Castro era there was relative prosperity and opporotunity in Cuba, but now they all drive around in 1954 Chevys.
The White House trotted press secretary Robert Gibbs who said, "It's tremendously important that for people who rant on cable television to be responsible and understand what it is they're talking about. I feel assured that Mr. Santelli doesn't know what he's talking about."
Santelli has been in the world of finance for his entire adult life and probably knows a good bit more about that world then the White House press secretary does.
This episode is another in a string of bad days for the Obama Administration. In spite of his pledging bi-partisanship, he allowed Nancy Pelosi and her crowd in the House to craft the first version of the stimulus package which was then negotiated - in secret - to its final configuration.
Then he had that embarrassing Tom Daschle business. Then there was a disconnect between senior Democrats on whether Bank of American and/or Citigroup and/or Harry's Savings and Loan would have to be nationalized.
The markets are plummeting toward 10 year lows, unemployment shows no signs of abating.
SIDEBAR
One of my many Democratic readers suggested it was unfair to use the Dow Jones Industrial Averages as a test of whether the economy was improving.
I said it was a marker - the only one we have in between quarterly statistics on Gross Domestic Product growth or shrinkage. It is like a poll in August: It doesn't necessarily tell you what is going to happen in November, but it is a marker.
While one poll doesn't tell you much, a string of polls signal a trend.
END SIDEBAR
Back to the bad news for the Administration:
Obama had to order 17,000 troops to Afghanistan, his belief in the Power of Nice having lasted about a month into his Presidency; the Iranians are claiming they now have enough enriched uranium to make a bomb and Benjamin Netanyahu, the Likud Party leader who chosen Friday to form Israel's next government has been known as a hard liner when it comes to land-for-peace deals with the Palestinians.
And now, on top of everything else, Obama has irritated John Galt.
On the Secret Decoder Ring today: Links to Ayn Rand, Atlas Shrugged, Rick Santelli, the executive summary of the Obama housing plan and the answer to the question: Who is John Galt? Also a Mullfoto which caused me no small amount of anguish and a Catchy Caption of the Day.
Barry is Mr. Thompson.
Government “help” to business is just as disastrous as government persecution... the only way a government can be of service to national prosperity is by keeping its hands off.
-Ayn Rand
It only stands to reason that where there’s sacrifice, there’s someone collecting the sacrificial offerings. Where there’s service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master.
-Ayn Rand
I feel equally assured that Mr. Gibbs is a useless tool. One of the two of them proves it every time he opens his mouth, and it isn't Santelli.
Moreover, who is Hank Reardon?
There are evil forces at work in this world...
“It was not at all clear that Obama was talking about being Robin Hood at the time”
It wasn’t clear???
Were you off-planet for the past two years?
What more did a person need to see than his associations, his writings, his statements, etc.
I was perfectly clear.
Is this how those who voted for him are going to make themselves feel better?
He’s a racist communist, he’s not simply a “robin hood”.
That’s probably not clear to you either, but it will be in the next few months.
Atlas pukes.
Robin Hood stole from the over taxing government and gave back to the people.. it wasn’t ‘stealing from the rich to give to the poor’.. He was fighting a repressive, collectivist government.
You wouldn’t know that by how he is portrayed in movies, books (rewrites) and cartoons.
Many actually get it right to a point, most folks just don’t think about it enough. They all point out that it is the ‘Sheriff’ collecting taxes for King John. Robin’s family home and land was taken by the King. Taxes where made repressively high and those who didn’t pay taxes where jailed or worse. Even the church had to fall in line or members within where punished for not towing the King’s line.
Heck, even Disney got these basics correct, albeit, stupid little songs like “Steal from the rich and give to the poor” are what sticks in folks minds.
“Atlas is done with merely shrugging. Atlas is raging.”
The guy missed the concept. Rage comes _before_ shrugging - and while there has been some shrugging it is far from over - you first have to get past the rage.
“Moreover, who is Hank Reardon?”
Rush, as a businessman, could fill those shoes. His speech at CPAC comes very close. But Reardon (and Dagny) was also the last to ‘shrug’ thinking that things could still be fixed.
With what Obama is doing to capitalism someone should write an update and call it “Atlas Shagged”.
bfl
“It was not at all clear that Obama was talking about being Robin Hood at the time”
Obama as Robin Hood? Hardly. Robin Hood stole from the rich to return money to the peasants who were being unfairly taxed. Who is richer than GOVT? Who is levying an unfair tax burden? Obama is the Tyrant, not the hero.
Atlas Shrugged is #34 at Amazon, amazing for a 1200 page book that’s over 50 years old. It’s #1, #2 and #3 in the classics division(3 separate editions), with The Fountainhead at #6. The Federalist Papers are #4 and The Great Gatsby is #5.
For a long dead author to have 2 books from 52 and 67 years ago at 1200 and 750 or so pages hold 4 of the top 6 spots is a pretty big deal, I’d say.
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