Barack O-Boondoggle

He’s technically smart, especially compared to the Texas Vegetable now in office, but he does NOT get it.  He talks of the historic nature of our present socio-economic crisis, but has zero understanding of where we stand in history.  Parroting the usual one-sided self-flatteries about American hard work, optimism, and creativity that pass for mainstream history, he can only imagine finding new ways of doing more of the same.

The core goal and promise is also the core impossibility: “fuel[ing] long-term economic growth.”

That simply ain’t gonna happen, and would be a complete disaster if it did.  The planet is past Peak Oil, Peak Water, and Peak Farmland.  It is also past the point where slight changes can make a difference in climate change, species loss, pollution, etc.

The only way forward, the only way to preserve political progress and modern society’s primary benefits is to create an economy capable of not just tolerating but leading toward economic contraction.  And that ain’t capitalism, which must always grow, without end.

Instead of acknowledging the dire need for public industry, Obama is going to do what Dmitry Orlov observes all leaders sponsored by decrepit and outdated overclasses do: promulgate new and expanded elite boondoggles.

This, of course, is insanity writ large:  Using the most powerful office in the world to do the same old things, while expecting different results.

A great many Obamaniacs are going to be massively disappointed…

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11 years ago

“The planet is past Peak Oil”

what about that guy who was on LBO radio not long again, Robin Mills:

Michael Dawson
11 years ago

Well, dermo, it’s a complex enough topic that nobody can be 100 percent sure what’s happening. Nevertheless, Mills bills himself as a geologist, but is clearly much more of an economist than a geologist. In the Peak Oil debate, that usually tells you something. He also draws his undoubtedly handsome salary from the state oil company of Dubai, meaning the unelected “royal” dictators of that city-state, whose economy is based on tourism and real estate investment by oil sheikhs. They are unlikely to be asking for realistic advice on the ultimate basis of their disgusting power and privilege, or to… Read more »

Michael Dawson
11 years ago

One more thing, dermo: Look at the weasel-wording of this key claim by Mills: “Oil is merely one convenient source of energy. Opportunities exist to decrease the global consumption of oil radically while maintaining a healthy economy.” It’s almost certainly true that we have enough energy left to maintain “A” healthy economy. But do we have enough left to maintain the EXISTING world economy? We could probably build a pretty kick-ass kind of socialism 2.0, if we play our cards quickly and correctly. That would be A healthy economy. It ain’t THIS economy, though. Working for a state-owned conglomerate seems… Read more »

11 years ago

thanks for your input michael. i didn’t necessarily agree with mills to begin with, but was just wondering what your take on him was (and why henwood is so taken with him) i actually think doug henwood is a pretty typical economist when it comes to evaluating environmental problems. i was very sad that his book “after the new economy” included the kind arrogant dismissals of environmental issues that were staples of the rightist economics discourse at my university (i was a envi-sci major)…

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