Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Obama, Generation x-er

Posted by Jesse on March 12, 2008

What do Iraq, bubbles, Bush, Bernanke, and Obama all have in common?
Posted by Michael S. Rozeff at March 12, 2008 03:50 PM

Over-confidence. Xenakis, who wrote Generational Dynamics, in 2004 wrote this: “Ten years ago, all the major senior business, government and education leaders were risk-averse people from the generation that grew up during the Great Depression and World War II. Today, all the major leaders are from the risk-seeking, arrogant, hubristic, narcissistic, self-assured ‘baby boomer generation.'”

His hypothesis applies to the Iraq War instigators. And they are so hubristic they’d start a war with Iran.

It applies to Bush II, born in 1946, who thinks he can remake the world.

It applies to the credit bubble, which is a manifestation in part of lowered risk aversion. Those contracting big debts, both in the business world and out, didn’t think about the risks or factor them in to pricing. It applied earlier to the internet bubble.

These are history. My main point is that Bernanke, born in 1953, is in this group. He thinks that he can stem another Great Depression, if not with helicopter money, then with some other gimmick. He thinks he can manipulate the stock market and stem its decline. He cannot do either of these things. He’s overconfident.

Obama, born in 1961, is a Generation X-er. He’s just as overconfident as the Baby Boomers and will be just as activist, as he is not separated that far in time from them. But his agenda is a different set of “problems”, namely, social problems.

———————————-

Ah…there it is. So people want to unite the country. But how can you do that when we are at war and the economy is going down the tubes?

Let’s see, redeploy troops…., spend…, spend…, spend…,

Think it will work?
cover-front.jpg
With regards to military reform, read this post by Lind.
[here’s an excerpt]
“Events on Wall Street suggest that the day when the money flow stops may be approaching. Despite President Hoover’s assurance that “Prosperity is just around the corner,” the American economy is in free-fall. After decades of frivolity, that economy now amounts to little more than a pyramid of financial pyramids, all requiring a constant inflow of borrowed money. The inflow is endangered by the developing Panic of ’08, where the junk mortgage crisis and the collapse of the housing market combine to dry up lending. What happens to pyramid schemes when money stops flowing in at the bottom? Maybe a recession; maybe a depression. That’s why pyramid schemes are illegal, unless the government runs them.

A tanking economy and world credit markets tighter than Scrooge’s sphincter will require large cuts in federal spending. That will include the Pentagon. If a new administration were to turn to the military reformers and ask us how to cut defense spending while still securing the country, what would we advise?”

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7 Responses to “Obama, Generation x-er”

  1. […] Credit Rating Repair wrote an interesting post today onHere’s a quick excerpt What do Iraq, bubbles, Bush, Bernanke, and Obama all have in common? Posted by Michael S. Rozeff at March 12, 2008 03:50 PM Over-confidence. Xenakis, who wrote Generational Dynamics, in 2004 wrote this: “Ten years ago, all the major senior business, government and education leaders were risk-averse people from the generation that grew up during the Great Depression and World War II. Today, all the major leaders are from the risk-seeking, arrogant, hubristic, narcissistic, self-assured ‘baby […]

  2. […] Mortgage Advice wrote an interesting post today onHere’s a quick excerpt What do Iraq, bubbles, Bush, Bernanke, and Obama all have in common? Posted by Michael S. Rozeff at March 12, 2008 03:50 PM Over-confidence. Xenakis, who wrote Generational Dynamics, in 2004 wrote this: “Ten years ago, all the major senior business, government and education leaders were risk-averse people from the generation that grew up during the Great Depression and World War II. Today, all the major leaders are from the risk-seeking, arrogant, hubristic, narcissistic, self-assured ‘baby […]

  3. […] Read the rest of this great post here […]

  4. […] Jesse put an intriguing blog post on Obama, Generation x-er […]

  5. Pedro said

    Hillary and Bill Clinton have made a significant issue about how the press is treating Hillary unfairly in their hyper-critical reporting on her and their “softball” reporting on Barak Obama. Hillary maintains she has been fully investigated by the media and Barak hasn’t! As the Tony Rezko trial begins in Chicago, Clinton and her surrogates are linking Obama to Rezko and the media is speculating about whether Obama will be called to testify as a witness in the case. Obama has always admitted he received $85,000 in contributions from Rezko which Obama has now donated to charity rather than keep. Yet the civil fraud trial of Bill Clinton for defrauduing Hillary’s largest donor in 2000 into giving her campaign more than $1.2 million, pending in Los Angeles courts since 2003, is now preparing for a November, 2008 trial. The discovery that is now proceeding after a February 21 hearing, and the pending trial, have NEVER been announced by the mainstream media. Hillary was able to extricate herself as a co-defendant in the case in January, 2008 after years of appeals to be protected by the First Amendment from tort claims arising out of federal campaign solicitations she made. Her abuse of the intent of California’s anti-SLAPP law after the California Supreme Court refused to dismiss her from the case in 2004 is emblematic of her contempt for the Rule of Law. Hillary will be called as a witness in both discovery and the trial according to the trial court Judge who so-advised Hillary’s attorney David Kendall when he dismissed Hillary as a co-defendant in 2007. A subpoena is being prepared this month and will be served personally on Hillary, along with Chelsea, Pa Gov. Ed Rendell, Al Gore and other well known political and media figures. Yet the media has refused to report about this landmark civil fraud case- brought by Hillary’s biggest 2000 donor to her Senate race, regarding allegations that were corroborated by the Department of Justice in the criminal trial of Hillary’s finance director David Rosen in May, 2005. That indictment and trial was credited as resulting from the civil suit’s allegations by Peter Paul, the Hollywood dot com millionaire Bill Clinton convinced to donate more than $1.2 million (according to the DOJ prosecutors and the FBI) to Hillary’s Senate campaign as part of a post White House business deal with Bill. The media – except for World Net Daily- has also suspiciously refused to report on Hillary’s last FEC report regarding her 2000 Senate campaign, filed in January 30, 2006. In a secret settlement of an FEC complaint by the plaintiff in Paul v Clinton, Peter Paul, the FEC fined Hillary’s campaign $35,000 for hiding more than $720,000 in donations from Paul, and it required Hillary’s campaign to file a 4th amended FEC report. In that report Hillary and her campaign again hid Paul’s $1.2 million contribution to her campaign and falsely attributed $250,000 as being donated by Paul’s partner, Spider Man creator Stan Lee, who swore in a video taped deposition he never gave Hillary or her campaign any money. Lee did testify to trading $100,000 checks with Paul to make it appear he gave $100,000 to Hillary’s campaign (admission of a felony) but none of that has been reported by the “overly critical” media! Where is the outrage from Obama that the press is engaging in a double standard relating to his possible role in the Rezko trial and his refunding the $85,000 contributed to his campaign by Rezko- which Obama has always admitted taking. The media makes no mention of Hillary’s role as a witness in Bill’s fraud trial for defrauding Hillary’s largest donor- and Hillary’s refusal to refund the $1.2 million she illegally received from Paul, which she has denied taking from Paul ever since the Washington Post asked her about Paul and his felony convictions from the 1970’s before her first Senate election in 2000? Visit Hillcap.org for videos and info.

  6. ElectionGuy2008 said

    This is a thought-provoking post. But you should be aware that there is a growing consensus in the media, and among experts, that Obama is not a Boomer, nor an Xer, but instead is a member of Generation Jones (born 1954-1965, the heretofore lost generation between the Boomers and Xers).Just in the last month or so, several top media outlets, including The New York Times, Newsweek Magazine, and NBC, have all made the argument that Obama is specifically part of Generation Jones. I also heard a panel of generations experts recently on a national radio show discussing this specific issue, and four of the five experts concluded overwhelmingly that Babrack is obviously a Joneser (the one dissenting expert felt that Obama is a Boomer)

  7. Jesse said

    trying to garner votes i am sure.

    anyone savvy to the real economic situation we face won’t fall for it.

    knowing the war situation, hillary and mccain are scary, we are left with not much choice than to take a chance with obama and hope he can be swayed by the people and not his advisors.

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