Thursday, January 28, 2010

The Evil Elizabeth Warren

Taylor Conant emails the below clip and writes:

Check out this propaganda. Besides completely ignoring the Fed, her own narrative is not internally consistent and full of non sequiturs (what does the non-consumer oriented focus of regulators have to do with banks pulling off what they supposedly did?)

She is one ignorant lady! Yet another Harvard financial "expert".

In addition to Conant's points, I think what really makes her evil is the fact that she is very power hungry, but also extremely shrewd with an ability to talk her nonsense to the booboise.

Her grand statements seem to make sense until you pull them apart.

I almost fell out of my chair when she said that up until now there were no serious financial crises since the Great Depression. During the period she seems to think was just fine, we went off the gold standard because of an international run on the U.S. gold supply. We were, at one point, on the edge of hyper-inflation with interest rates as high as 20%. The Bretton Woods agreement collapsed. It's replacement the Smithsonian Agreement collapsed. And we witnessed stagflation, where there was inflation and recession. I could go on, but you get the picture. There was nothing calming and soothing coming out of the FDR era at all.

But Warren is a major laegue interventionist, so the interventions of FDR were all wonderful, up until now. Damn the facts, let's intervene some more. FDR style.

She also mentions backroom deals, which do occur. But they occur because there are power hungry people in the backrooms that can be manipulated for the right price. The way you solve this problem is by eliminating the backrooms, i.e. the regulations that cause the power centers.

That's not what she wants. She wants to create a super-regulator, sort of a merger of backrooms. And she won't admit it, but she wants to run it, the bitch.

She also made the interesting point that the powerful Wall Street operators would have been out of jobs if it wasn't for the government bailout. She's right. The market would have wiped these assholes so far from Wall Street that the only time Lloyd Blankfein would be working in the area again would have been as a cabbie dropping off a fare. But does she reach this obvious conclusion? No. For her it's about getting these power elite paid off so they can kiss her butt.

Finally, what the hell is she doing on the Jon Stewart Show? She is not a government official. She was named to run a damn oversight committee. You have to be real power hungry to launch a PR campaign from an oversight committee role.

This is one dangerous woman.


  1. Stewart is a giant (useful) idiot. Feed him a story that matches his fairy tale view of the world and he'll follow you off a cliff smiling (and thinking he's still funny).

  2. I like John Stewart for the most part. While a social democrat, he is mostly honest in his ideology. He will usually call a spade, a spade, no matter even if it is one of favored policies or one of his heroes.

    He gets the warfare part of the state, it's just the welfare part he's completely lost on. Interviews like this highlight that problem.

    He's still marginally stuck on something like, "The deregulation of the banks was bad. We need regulation," even though, as a fact or talking point that many social democrats continually use currently, that statement is completely wrong.

    I hope at some point, he has someone on there that really understands the crisis and is allowed to speak on it. Peter Schiff and Ron Paul have been on before, but they never really got to say much because Stewart never asked good questions. Maybe that can change in the future.

  3. This isn't all bad. John Stewart is a comedian with an entertainment show. Why would people go on this show unless they were entertainers or desperate?

    Like Pres. Obama on Letterman or candidates McCain and Palin on SNL. This kind of exposure didn't help them and it won't help Warren (Obama still reminds me of that charactor on the cover of Mad Magazine).

    In fact, in the case of someone like Warren the more exposure the better. It allows people to see her for what she really is. Desperate for power and comically lacking in common sense. And exposure on a comedy show seems particularly appropriate!