Monday 29 September 2008

Dems and Reps

I was fascinated to read this thread over on the Housepricecrash site. The thread author writes:
Democrats Want The Bill, Republicans Don't, I'm confused.

I would have thought that the Republican Party would be the ones crying out for the Bill to go through, but it seems to be the Democrats.

Can anyone explain why?

A few of the contributors sort of get it but not properly. What "Jimothy" seems to think is that the Democrats are the party of the downtrodden working class while the Republicans are plutocratic, top-hatted bankers who flick cigar ash at the masses from the windows of their Cadillacs as they speed by on the way to Wall Street. Ah, the perils of trying to understand America through the prism of the BBC...

Maybe fifty years ago the Democrats were the party of the industrialised and unionised white working class. But there aren't too many of them left these days: those jobs are now in Shanghai. Nowadays the Democrats represent a coalition of rather disparate groups:

1. The minorities, especially blacks. And this isn't really anything to do with Obama: blacks vote overwhelmingly for the Dems at every election.

2. The intelligentsia. This is where most of the Democratic activist base is to be found. I'm thinking of teachers, professors, lawyers (especially lawyers), journalists, television folk and almost everyone in the entertainment industry - one of America's biggest. Subsets of this group are the gay and feminist lobbies.

3. Other government workers of all types, although not including too many members of the military.

4. Wall Street. Yes, and why not? Top bankers generally live in the same cities and neighbourhoods as the leading members of the liberal intelligentsia - in New York, Boston, Chicago, San Francisco and Los Angeles. They socialise with the entertainment elite. I note that even the Republican Paulson seems to have actively donated to typically leftist causes. People like to fit in.

What all of these groups have in common is the desire to use the state for their own class interests. Minorities want abominations like the Community Reinvestment Act that seems to be directly implicated in the current mess. Most of the intelligentsia hates the West and wants to bring it down by brainwashing future generations. Government workers have everything to gain from government expansion. And the Wall Streeters operate in an industry with extremely close links to the state. They all understood that their dodgy CRA loans would be bailed out by Fannie and Freddie and, if necessary, Ms Mae and Mr Mac would themselves be "saved" by the taxpayer, exactly as we've just witnessed. And I've not even mentioned the whole rotten system of GOVERNMENTAL central banking that empowers the Wall Street crowd who wouldn't know a free market if it hit them on the head.

And what of the Republicans?

The Christian fundamentalist element isn't that important, despite what the BBC might tell you. Essentially the Republicans are the millions and millions of normal middle class Americans who live in the suburbs and small towns and who work predominantly in the private sector. They do include professionals and business owners who are often wealthy but, unlike all too many rich Democrats, they've made their own way in the free market without any "help" from the government. It's hardly surprising that these cautious, taxpaying Republican voters bitterly resent being asked to hand over their lifetime savings to bail out the profligate. And that's the message that's been given to members of Congress today. Good and hard.

1 comment:

David Farrer said...

Comments made on previous template:

Neil Craig
"What all of these groups have in common is the desire to use the state for their own class interests" 
 
well put. A good assessment of the inevitable result of the state becoming above 1/3rd of the economy.

9 October 2008, 15:18:36 GMT+01:00
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Andrew Duffin
Well now they have been shafted. 
 
And the short, fairly simple bill proposed by the Treasury Sec has ballooned to 500 pages-odd of pork and beak-wetting. 
 
Disgusting is the only word one can use. 
 
imho those ordinary Republicans were right.

8 October 2008, 12:38:05 GMT+01:00
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David Farrer
Thanks Robert. 
 
Now bookmarked.

6 October 2008, 11:51:18 GMT+01:00
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Robert
GHPC is a better forum IMO, with far more level-headed discussion than the HPC site; 
 
see - www.globalhousepricecrash.com

6 October 2008, 11:13:09 GMT+01:00
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jameshigham
It's hardly surprising that these cautious, taxpaying Republican voters bitterly resent being asked to hand over their lifetime savings to bail out the profligate. 
 
Got it in one.

5 October 2008, 14:01:20 GMT+01:00
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Curly
Will this multi billion dollar deal not work out to be the biggest delaying tactic in history? 
 
It might put the chickens off for now, but eventually they will have to come home to roost.

2 October 2008, 13:16:44 GMT+01:00
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Stve Thursby
I think this is a very good description of the two parties. As you say, not something you would get from the BBC. 
 
It would be nice if this description could be made more widely available.

2 October 2008, 11:18:14 GMT+01:00
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APL
"And that's the message that's been given to members of Congress today. Good and hard." 
 
Frequenting Mish & Denninger, it was something to watch. Impressive.

1 October 2008, 00:01:12 GMT+01:00