Summer Revelation?

Today I read Kunstler's Monday post as is my habit. It was, as always, juicy. In it he states:

There is something in the political wind this summer. I think events will force Mr. Obama to assert some real leadership and take the national debate on our predicament in another direction, even if it is an uncomfortable direction for him and everybody else. Despite the massive disappointment being expressed by so many Obama voters these days, I believe the president will redeem himself before long.

There is, at least, something to think about here.

The oddity of Obama is the contradiction between who he claimed to be overtly and covertly last year on the one hand, and the need to please those who paid for his ascendancy on the other. Kunstler's post is a fine example - though I bet he would chafe at the label "true believer". In the post he hammers Obama, then expresses bizarre (and unexamined) faith in him. All the while wondering when the furious masses will give the likes of Goldman Sachs their comeuppance - not seeing or wanting to see the most obvious fact:

Goldman Sachs owns Obama.

The entire point of this blog most days is to point out the basic contradictions of the current President. Among the Obama true believers (that would be the self described progressive left) some have given up on him already. Most are hanging on by their fingernails and ability to absorb or ignore cognitive dissonance.

BUT could Obama "come to" and confront the realities of the fix we are in?

We are in a fix. Agree with Obama's economic policies so far - or don't. Both sides are basing their support or opposition on one assumption: We can return to the credit based model of continuous economic growth like we had in the previous 50 years - and we ought to. Our "way of life", having hit a major pothole, must now be returned to its previous - alleged - splendor.

I do not think this is doable, feasible, or desirable. It was a false economy. Liberal economist Robert Reich sounds vaguely like many a libertarian when he writes in a post called When Will The Recovery Begin? Never.

This economy can't get back on track because the track we were on for years-featuring flat or declining median wages, mounting consumer debt, and widening insecurity...simply cannot be sustained.

Nor should it be. If a "recovery" comes based on banks creating more debt by lending more conjured money into a system already drowning in debt it will only put off the pain for another business cycle. The cold reality is that we, as a nation, have lived beyond our means for a very long time. "Recovering" based on another line of credit is stupid, foolish, and dangerous.

In reality this is not even a discussion about our economy. It is a discussion about our autonomy as a nation. We better not double down on the bet that China will continue to underwrite our flat screen TVs and holidays in Cabo without extracting payback.

So is there a summer revelation simmering in the West Wing? If so, what is it? For all my criticism and distrust of Obama if he comes forth and levels with us - telling us the way forward will be difficult and full of sacrifice but we must begin. Further if he holds all those who wrecked the economy to account - including the Goldman boys and Soros's cabal - and all the working stiffs who bought McMansions they could not afford - this will go a very long way to rehabilitating him in my eyes.


What are the chances of this happening?

Just barely this side of zilch.

The persistence of the illusion that we - the people - have any true say in the things that affect us most remains astonishing.