Pundits, politicians, and cronies living in the little bubbles that benefit from Obama’s crony socialism (deficit-driven spending targeted at Government bureaucrats and big investment banks) are baffled that folks devastated by Obama’s War on Coal and Regulatory War on Industry don’t see America through the rose-tinted spectacles of narcissism.
Most Americans also know that vast swaths of the Washington, D.C.-area are filled with wealthy people gorging themselves at the federal trough. They know that the rules don’t apply in Silicon Valley, where companies have been given a pass from taxes and many of the regulations that overwhelm ordinary American businesses. They know that when Silicon Valley businesses like AirBnB and Uber come to town, the laws often will be rewritten for their benefit.
Most Americans know about corporate executives like Marissa Mayer. She completely failed to turn around the struggling Internet pioneer Yahoo, though that’s what she was hired to do. Her “accomplishments” include buying the now-worthless blogging platform Tumblr for $1.1 billion. Despite her failure, if she’s not retained in the wake of the reported sale of Yahoo’s businesses to Verizon, Mayer is set to collect a pre-negotiated $55 million golden parachute. Most Americans know that they wouldn’t be treated so kindly if they lost their jobs.
(Paul) Krugman should spend some time talking to people in Flint, Michigan, the South Side of Chicago, California’s Central Valley, or any of the many decaying industrial cities and towns throughout the Midwest and Northeast. That might clear up some of his confusion.