One of the more curious events of the recent Republican convention that was totally under reported by the media, was the fact that neither of the last 2 Republican Presidents, George H.W. Bush and George W. Bush were not only not invited, but were never mentioned during the convention process. On the other hand, Bill Clinton, the last Democratic President before Obama, was hailed at the Democratic convention as the second coming, and one could almost see a halo ringing the top of his head when he gave his convention speech. This despite the whole Monica Lewinski scandal thingy. Yet both Bush the Elder and Bush the Younger were both persona-non-grata at the GOP production. Although I disagreed with some of his policies I always considered the elder Bush to be a man of integrity and decency. At least, for a politician. But, I guess, that since he’s a pretty old man now, and he did lose his reelection bid, were factors leading to his aura of invisibility at the Republican festivities. The younger Bush, who also possesses a high level of decency, was made a non-person as far as Republicans were concerned, for several reasons. One, of course, was the economic crash we endured during the last 2 years of his presidency, which got us into the mess that we’re still trying to emerge from today. But the other reason was that W. showed too much moderation for today’s GOP, which has swung totally over to the dark side of political fanaticism. After all, it was under Bush’s reign that the Medicare drug benefit was enacted and federal aid to education, as well as other social programs, was significantly increased. Can’t have that, as far as today’s Republicans are concerned.
Regarding the economy, however, the economic disaster in 2008 was not Bush’s fault, nor is it ever the President’s fault. Although Democrats in general, and Obama in particular, have made lifetime careers out of blaming Bush for the bad economy, the reality is that the fault lies in the inherent nature of our capitalist system, and the speculators that try to game the system. In the 1920s, the economy was on a roll and the stock market was booming. It was known as the roaring ’20s. There were big profits to be made in the stock market, and investors were making money hand-over-fist. It really didn’t matter what stock a person bought, the stock market could only go one way, and that was up. Or so the speculators and other capitalistic gamers would have you believe. Until one day in October 1929, someone took a second look at what was supporting highly inflated stock prices, and found there was really nothing there. Word got around, and sooner rather than later, panic began setting in. People started selling their stocks in a mass frenzy, and the entire market collapsed. We all know about the great Depression that ensued, and the misery that America went through for about a dozen years, until WWII pulled us out the hard times.
Similarly, in the 2000s, capitalistic speculators zeroed in on the real estate market where values could only go one way, and again, that was up. Whereas, in previous decades, people bought houses primarily for living quarters, in the early 2000s, speculators were grabbing houses to to make big, quick and easy bucks. Indeed, we bought our house here in Las Vegas in the year 2000, and saw the property nearly triple in value before the roller-coaster ride came to an end sometime between 2006-2007. Almost on a weekly basis, I would tell my wife that our builder had increased the prices of new homes by somewhere between 25,000 to 50,000 dollars, and she would shake her head and utter words of disbelief. We saw speculators buying up scores of houses in our development, in one get-rich-quick scheme after another. Until, as in 1929, someone took a second look, and asked how real estate prices could possibly be so astronomical, given what was being offered for those prices. As previously, panic selling started to set in, and speculators were dumping their properties on the market for whatever price they could get. Today, my house is back down to roughly what we paid for it almost 13 years ago, which is okay since we bought it to live in, not for speculation. Plus, I have the satisfaction of knowing that many speculators and gammers were financially ruined when the housing bubble burst.
Of course, the greatest economic downturn since the great Depression resulted from the bursting of that bubble, and the economy continues to limp along weakly since 2008. Once again the flaws of our capitalistic system raised their ugly heads. But Mitt Romney and the Republicans see the poor economy as their pathway to the presidency and perhaps full control of Congress. Just blame the high unemployment rate and huge deficit spending on Obama and the Democrats, and winning in November should be in the bag. So why isn’t it. When it became a sure thing that Romney would be the Republican nominee back in April or May, and given the lousy state of economic conditions, I expected His Mittness to open up at least a 10%-15% lead in the polling numbers. Yet here we are, a little over a month from balloting time, and the latest polls show the race to be a dead heat with Obama actually having a small lead. What happened?
Could it be that the Republican brand of politics just isn’t selling too well? That the GOP way of fixing the economy by giving tax cuts to the rich while sharply cutting Government spending for the poor, sick and elderly, is not the way many people view reality. You know, that pesky 47% of us always looking for a Government handout. Including veterans from Mid-East wars with brain damage, blindness, missing limbs, or PTSD that insist on asking the Veterans Administration for benefits. Or perhaps those obnoxious seniors always carrying-on about their Medicare or Social Security benefits being tampered with. Or perhaps those receiving food stamps, where the GOP wants to make substantial cuts. After all, if you have no money to feed yourself, is it really the Government’s responsibility to keep you from starving to death.
Or perhaps people are objecting to the Republican brand when it comes to social issues. Like the Republican platform that would not allow any abortions, even in cases of rape, incest, or where the mothers life is at peril. Or the GOP guy from Missouri running for the U.S. Senate, claiming that a woman’s body would take care of her in cases of “legitimate” rape. (I would hate to see what illegitimate rape looks like.) Or the Republican continuing war against gay rights and gay marriage. Thus, in a year when a bad economy should enable the GOP to sweep into power, Republicans, as I said previously, have gone so far over to the dark side of right-wing whackoism, that the race for both President and Congress remains exceedingly close. I still think that Romney will likely win, because he has more billionaires willing to spend whatever it takes to get him elected. But by this point in time it shouldn’t even be close, except for the Republican brand of extremism. And as I’ve said many times, Mitt Romney remains the best candidate the billionaires could buy.