The John Batchelor Show

What's Breaking News Tonight?

Are They Paying Attention?

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Who Is Watching President Obama's Prime Time Press Performance?    

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The puzzle that does not have an easy answer is, Why is the POTUS on TV tonight?  Anything unusual happen today or this weekend?  No.  New crisis?  No.  The opening statement and the question and answer with a pat list of correspondents just worked over established spin and rhetoric from weeks of the same.  Healthcare, energy, education, crisis, banks, tough times.  Then the ritual "signs of progress."  FDR saw signs of progress every month from March 1933 until Germany attacked Poland and the draft gave work to the unemployed.  The single explanation for the prime time performance was buried in a throw away dependent clause during the first response to a pat question.  "...and to make sure the American people are paying attention..." said the POTUS.  Here is a motive.  There may be polls showing that the American audience has turned away from the elaborate detail and foggy arcana of the stimulus package, the budget plan, the housing and small business and bank plans.  In sum, the answer to who is watching may be that no one is watching anymore -- or so the White House has reason to fret.

Ratings Rule.

In show business, there is only one number, and the number is the story.  I am guessing now that this was the worst rated appearance by POTUS since his election.   You cannot assume the audience will tune in.  You must build up expectations.  What were the expectations of tonight's appearance?  Mystery.   What did the POTUS hope to achieve in tonight's restatement of his own remarks for the last two months?  Mystery.   The overwhelming, numbing, sleep-inducing details of the financial crisis mean that in order to get through a TV appearance talking about global collapse, you must have a story line.  Mom and Dad and children and happy ever after.  Or, Good guy, bad guy, heroic struggle, victory.   What was the story line tonight?  "Signs of progress?"  That is not a story line.  That is spin for a partners meeting at a law firm.  

What Is Worrying at the White House?

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The POTUS looked blue and somber tonight.  About what?  I don't have the answer.  There are possibilities.  There is the usual contradictory polling.  Nothing new there.   The Congress is acting irresolute and stubborn about the budget plan.  Business as usual.  The firestorm of the AIG bonuses has swept through the town and is not coming back soon, not unless and until the Senate takes up the legislation.  (This momentarily relieves the pressure on Rahm Emanuel and David Axelrod as to who killed Snowe-Wyden?  See the London Spectator)  So the only other threat is that Tim Geithner does not measure up for the banks, the Street, the markets, the G20.  This is not fresh threat.    President Obama has many months to solve the Geithner problem.   The choice moment of the day was when Tim Geithner told the Congressional hearing today (right, wardrobe problem of suspiciously twinned ties by the Fed boss and the Treasury boss, identified by the Wall Street Journal)  that he did not have a back-up plan for his just revealed TARP 2.1 plan.  This created the perfect conditions for a flood of wit at Calculated Risk.   My favorite is that H. Cortez didn't have a back-up plan either.  Instead, he burned his ships so that his men couldn't flee from the mad treasure hunt against the Aztecs.   The Geithner/Cortez Plan: El Dorado or Bust!
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20 Comments

Timothy Geithner said something half-way coherent yesterday and that was enough to send the stock markets through the roof. No guarantees that any of this will work, but traders nevertheless were heartened by the fact that our tax challenged Secretary of the Treasury managed to speak in complete sentences.

It must be kept in mind that this administration has positioned itself so that it wins both ways: Should the plan succeed in bringing the economy back, the administration will get the credit (as it should); should it fail, it will give the government an excuse to seize more control over the private sector.

From what I’ve been able to observe thus far, the latter result would be preferable, especially with respect to the designs this administration holds dear. It has become clear (to me, at least) that our present leadership has no faith in free markets and will eagerly seize every opportunity to turn the screw by way of central planning. I am not alone in my assessment of the way things stand. Beijing is only the latest in a whole series of high stakes players that has floated the ‘dump the dollar’ balloon knowing, perhaps better than anyone, that the purely academic (socialist) approach to fiscal policy can only lead to economic ruin.

Tonight’s performance was to build on yesterday’s ‘success’ and give it the presidential seal of approval. The President is well aware that his own support is fading, due in part to his apparent flippant manner on the late night talk shows. He obviously felt it necessary to flip the comedic script and present himself as a serious player. Whether or not there were enough of us watching to constitute a multitude worthy of a messiah will be revealed when the ratings come out in the morning.

Dear Obama:
Your televised press conference was reduced to a tedious bore to watch after just 10 minutes.

Do you know when to answer a question and then SHUT UP ???!!!

The American public is bored to death with you.

You are the little boy who cried wolf, and if memory serves me correctly, it will be your undoing.

You'd be better off with Lyndon Larouche as your mouthpiece.

John,

This guy thinks he can stay on top with the "cult" of his personnality and charisma. After all, that's what got him in the WH. His own verison of the anti-George Bush if you like. He's sinking in the polls [and for good reason]. When Duke's coach says this guy should be worrying about the economy instead of the NCAA brackets, he spoke for many more than the tone death folks in the WH can even imagine. He's not serious and he's being seen that way by many. A lightweight through and through.

Also, Cortez's men, when trying to escape Tenochtitlan with the loot via the causeway, were met with an aggravated Aztec on all three sides. Many drowned due to the burden weight of the vast gold art treasure that they had smelted into ingots for transport.

Somehow, Cortez survived (saved by his bodyguard) and went on to instigate and carry out the siege of the city/ nation and its eventual subjugation and destruction.

These spontaneous situations reveal what most reasonable people realized all along... Mr O is just a man. He is a man with not enough experience, no credentials for the job, not really a great speaker or communicator, and certainly not a frontman for some immense conspiracy to Marxicize, Islamisize, Socialize, or even Obamasize the Nation that we cherish.

And, if one thing is consistent, he has acknowledged that our problems are more difficult than imaginable. The Messiah thing that has filled some need for comparison in discussion is offensive to us who have been blessed to believe in the Sermon on the Mount.

I'm OK with Obama going on TV every week or two and telling us what he's up to. GWB's achilles heel, apart from an uncanny resemblance to a chimpanzee, was his failure to communicate. Rome was burning and GWB was nowhere to be found. When he finally did hobble out onto the balcony to tell us that TARP must be passed to avoid a meltdown, he'd already long since lost control.

Of far greater importance was the article in this morning's Journal about how the Obama Administration has finally figured out that it has to reach out to the private sector. For example, it's really good to see the name "Morgan" in the news in connection with advising a sitting President. The Morgans of the world have been shunned, ignored, and vilified for the last 2 months. Now, the Administration has asked them for help. And the answer was: Fine, but first, ahem.... about those 90% taxes on bonuses.... Then Obama was backtracking on his earlier statements about how terrible the AIG bonuses were. This is the best sign I've seen since January 19th. We've won the battle and it may be a signal one - too soon to tell.

Yeh, but, let's not hope for a Variety Show like Hugo's. Let's go for bland, blue, and belladonna.

"GWB's achilles heel, apart from an uncanny resemblance to a chimpanzee, was his failure to communicate."

Since you're making observations about simian appearances, Lou, it's probably fair to point out that BHO also bears an uncanny resemblance to a (cartoon) primate: Curious George. In fact, with those ears he sports, BHO could resemble a cross between Curious George and Alfred E. Newman. And, on that point, the obvious question is "What, Us Worry?" (Yes, we'd better be worried.)

Tonight's episode of the Messiah Show demonstated that the current White House occupant is also starting to fail to communicate. Worse, that he is a terrible bore. We already know that he and his policies are a menace to a free society. And this, after only about 60 days. This administration will be a tedious trudge through a very deep mire.

ONE BIG TRIAL BALLOON

Everything coming out of the White House seems like one big trial balloon. Instead of leadership, it's: Let's see how it polls. The best example of this is Geithner's plan to save the economy. First, it was too vague. Now, even with more detail, it's still vague. This vagueness allows all kinds of input, which seems similar to how Google operates, as expressed last Sunday. I, for one, like Apple. Come out with something spectacular and 'WOW' everyone. Then, all that can be said is: "Why didn't I think of that."

I think comparing Barack Obama to Hernan Cortez is an insult to the latter. Cortez -- not to be confused with that total low-life Juan Pizarro down in Peru -- provided truly bold leadership and overthrew a vast, human-sacrificing Aztec empire not merely with Spanish valor, armor, and muskets but because he had at his back perhaps 90,000 angry Mexican Indians, fed up at being enslaved and exploited by Aztec tyranny.

But such historical niceties are neither here nor there. What really shows Obama to be the un-Cortez -- aside from the various uncertain trumpets his admininstration continues to tootle in regard to the economy -- can be found in the field of foreign policy and national security. After all his grandiose campaign promises to repair the damage that George W. Bush allegedly caused to our relationships with our allies and to finally defeat and apprehend Osama bin Laden, what has Obama done? He treats our allies like dirt, especially Britain and Israel, and truckles to our enemies, who have proceeded to spit in his face. Even if Obama does apprehend UBL, he will now have to read him his Miranda rights and then be willing to accept some left-loony judge setting him free, perhaps on the streets of America itself, based on the sort of procedural technicality only liberals can mistake for actual criminal justice.

Even worse, the "war on terror" has now been replaced by "overseas contingency operations." Now there's a soul-stirring clarion call! I only hope our military recruiting centers are fully prepared for the tsunami of fire-breathing new recruits this inspiring appeal will inevitably cause. But seriously, folks, it's not exactly Hernan Cortez burning his boats, is it? Even more important, why was there not one question on this bait-and-switch and inherently meaningless but politically significant name change at the President's soporific press conference last night? Gee, I wonder why . . .

Tom, I think you read too much into the Cortez thing- to me the premise was about a back up plan for Geithner

Anyway, Cortez defied King and Country and set out on his own for his own enrichment, notoriety, and satisfaction to prove that he was more than a lowly administrator on some inconsequential island, far detached from the Court where he believed he truly belonged.

Couple of points:

Virginia Gentleman - I loved GWB, was one of his biggest supporters, made excuses for him right up until he supported TARP. Still think he was a great guy. But, you just can't mistake the resemblance with a chimp (IMO). I can't say anything negative about a minority, you should know better than that! After all, this is America.

To all: re Cortez - I do not think it's an exaggeration to state that Cortez was the Hitler of his time. He burned people alive at the stake. He destroyed one of the most modern and beautiful cities of the world of its time - Tenochtitlan. The natives who didn't die in the cannonades died from small pox. Those who didn't die at all were forced to accept Jesus Christ as their savior, or face the aforementioned human marshmallow roast. Wonderful person, indeed.

Let's stipulate that there are fundamental differences between the tenets of capitalism and those of socialism. Let us further stipulate that our current administration leans heavily toward a socialist approach with respect to governance. Forget for a moment all the arguments for or against either one.

We generally can rely on elections to demonstrate the will of the people in this regard. Why then are so many raising their voices in anger and frustration about what’s happening now? Americans have clearly decided to pursue the socialist path. Could it be that in the run-up to last November’s election the pertinent issues were never discussed? Could it be that the people were misled? How can this be in a country that prides itself on its free press; in a nation that spends so much of its resources on education? The responsibility to educate oneself sufficiently so that one’s vote on Election Day has meaning clearly lies with the individual. Why is there now so much ‘buyer’s remorse’ at what we see playing out in Washington?

Notwithstanding the argument that all governance is a balance between anarchy and autocracy, every administration will favor one over the other while seeking a functional position between the two extremes. The problem with a radical shift in policy the likes of which we have underwritten is that eggs must be cracked for there to be an omelet. Things can be expected to change dramatically for us. Change never comes easy.

Many of us can be expected to suffer discomfort and dislocation. It will be of little use to accuse others of failure or incompetence as we go forward and see the landscape changing around us. As in our system we yield to the majority, we are bound by the contract we signed. We cannot retrace our steps. Now, we stand committed. If we learned nothing else, it is that elections do have consequences

As we come to accept what we have freely endorsed, we can take comfort in the fact that we were not forced to it at the point of a gun.

Peter -

I chalk it up to a combination of two things:
(i) a desire to distance ourselves from the policies of GWB, and
(ii) a lack of understanding of our banking and financial system, and our political system in general. For an example of this latter phenomenon, look at the recent Rasmussen poll that showed 80% of those polled saying that the 90% bonus tax was unconstitutional, and 60% supporting the government's efforts to recover the bonuses. Unless they hire Michael J. Fox and Christopher Lloyd to help out, I don't see how they can do anything to recover the bonuses without breaching the Constitution. Yet people still want that to happen.

I do think that people are starting to wise up that there's no free lunch.

While the Obama administration cracks eggs to make the "inevitable" omelet, watch the folks on April 15th who are supposed to be holding the bowl... the tea parties could get messy. Yes, Peter, Obama won the right to serve up his socialist omelet for the next four years but I'm proud to be part of the loyal opposition that will stay loyal to American values...and not take a bite.

Press conference was an attempt to stay on message and prevent talk radio and news organizations from changing the tone and direction. Mission accomplished for that area. He had to do it, he must stay on subject and ahead of the curve. Notice he asked question of non-standard, Politco etc, organizations. NYT, LAT, WaPo, dis not get questions, a first.

He needs to set a more positive tone, since there is fear of additional market downturns, he does not want ot be seen as clueless and out of touch.

Moving the TelePrompTer to the back of the room, out of camera range was smart, too many jokes about being an addict. Even some of us Irish folk don't have a natural gift of Blarney.

Podium material was on the greenish side, was it to compliment his complexion? Royal blue used in the past is better on Caucasian skin. I want his dentist, Obama has gorgeous teeth!

Wisdom

Cathy – Frankly, whether you take a bite or not is of no consequence. We are approaching anarchy (which is the first step in Obama’s Marxist revolution) where it’s every man (and woman) for himself. You’re still under the illusion that we have a constitution which will protect you from the outrages the left hopes to foment. You forget that the left is now in charge. Already they have amply demonstrated their utter contempt for our Constitution – and hence, for our laws.

Let’s look at what has happened already, both here and abroad (in countries that have traditionally been known as our ideological cousins). Here in America, we’ve just banned the terms ‘enemy combatant’ and ‘war on terror’. Can it be inferred that terrorist activity is now considered legal? In France, factory workers just released their boss whom they had held hostage until he promised to give in to their demands. Can it be inferred that in France kidnapping is now no longer a crime? In England, vandals went to the house of a bank executive and vandalized it under the rubric of public anger over what essentially the U.S. perpetrated. Apparently vandalism is not a crime in the U.K. Britain again, a few weeks ago I watched young woman pour pea soup on an official as he got out of his car. She then calmly walked away. Apparently it is not a crime to pour pea soup on people in suits. Back in America, a newsman is murdered in New York and the press portrays the killer as a poor disadvantaged youth with psychological problems. (And we all know the press holds ultimate power in this country; they even elect our presidents.)

To date, still no one has been held to account for the economic mess. ACORN receives stimulus money instead (as does Hamas) and the very pols responsible for the fiscal collapse are still managing the day-to-day business of our nation.

No Cathy, we’ve got to do better than this. It’s gone beyond words (and bites). We can no longer hope to convince them with polite parlor conversation. We have been reduced to fighting them on their own turf. We have to now go out and disrupt THEIR stuff (like they’ve disrupter ours. How about refusing to pay your taxes? If they withhold money from your paycheck, stop working. Go to jail (like Gandhi’s followers and Gandhi himself), if they come for you. We don’t have four years to stop them. If we’re ever going to do it we have to do it now.

Peter, Peter!

What's new in the world? Nothing, except that whatever happens can be learned instantly from some source, however twisted or not.

There's always has been something distasteful going on. How much is caused by a tilting of the axis of Good Earth? Zero, Zilch, Nada.

Mr Batchelor, I think your: "FDR saw signs of progress every month from March 1933 until Germany attacked Poland and the draft gave work to the unemployed," is misleading.

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Recent months have seen much debate over the economic effects of the New Deal, and much repetition of the commonplace that the effort was too small to end the Great Depression, something achieved, it is said, only by World War II. A new paper by the economist Marshall Auerback has usefully corrected this record. Auerback plainly illustrates by how much Roosevelt’s ambition exceeded anything yet seen in this crisis:

"[Roosevelt’s] government hired about 60 per cent of the unemployed in public works and conservation projects that planted a billion trees, saved the whooping crane, modernized rural America, and built such diverse projects as the Cathedral of Learning in Pittsburgh, the Montana state capitol, much of the Chicago lakefront, New York’s Lincoln Tunnel and Triborough Bridge complex, the Tennessee Valley Authority and the aircraft carriers Enterprise and Yorktown. It also built or renovated 2,500 hospitals, 45,000 schools, 13,000 parks and playgrounds, 7,800 bridges, 700,000 miles of roads, and a thousand airfields. And it employed 50,000 teachers, rebuilt the country’s entire rural school system, and hired 3,000 writers, musicians, sculptors and painters, including Willem de Kooning and Jackson Pollock."

- No Return to Normal, By James K. Galbraith

Cathedral of Learning in Pittsburgh - I visited my daughter last fall at Carnegie Mellon where she's a freshman, and I was amazed by that place but also felt that there was something a bit phony about it. Most of the buildings in that section of Pittsburgh date back to around 1910-1915. The Cathedral of Learning is built in an older style architecture but is chronologically much more recent. I guess "Cool but heavy-handed" is how I would describe it. Kind of like FDR?

Then you go a quarter mile down the street to the Carnegie Art and Natural History Museums, and see what the private sector can do. When I think of Pittsburgh, I think of Andrew Carnegie and Andrew Mellon, not FDR.

This brings me around to my response to your list of things that FDR accomplished: Taleb would say, "You must consider what could have been accomplished with that money had it not been stolen (taxed) from the wealthy men of that time." As outlined in Amity Schlaes' book, Mellon donated a fabulous institution near Washington that FDR was actually quite jealous of.

In summary, FDR had one important thing in common with Messrs. Carnegie and Mellon. It was their money he used to build with.

Lou, Everyone is entitled to their taste in architecture. In fact, I have not been privileged to see the buildings you speak of--perhaps I would agree with you, tastewise.

Amity Schlaes' book is literally an unattributed rehash of American Liberty League anti-FDR propaganda. The ALL was identified by Major-General Smedley Darlington Butler as the "super-organization" behind the plan for an American coup. Amity Schlaes is, in fact, a liar and a propagandist. You should check out her resume.

I'd like to see the U.S.A. build (oh, say) some much needed high speed rail with the "money of" the criminals who are pocketing bank bail-out money as bonuses.

Andrew Carnegie died in 1919. What do you mean FDR built something with his money?

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