Thursday, July 26, 2012
“You didn’t build that” and “The private sector is doing fine.”
In the furor over Obama’s put-down of private enterprise in his infamous “you didn’t build that” comment in Richmond, I have not seen anyone making the connection to a previous comment about the private sector as he answered a question about the economy: "The private sector is doing fine." That comment was quickly forgotten as the media did it's usual job of "moving on."
Both comments together open a window into the Obama mind. His experience with the private sector is very, very limited. Outside of a brief job working for a newsletter publisher, his only contact with the private sector is either the corrupt businessmen of Chicago like Tony Rezko, or the wealthy titans of industry whom he befriended in his fundraisers.
When Obama thinks about “private industry” is he really thinking of the woman owner of a restaurant, or is he thinking of his ardent supporters like billionaires like George Soros and Warren Buffet or the head of his Jobs Council, Jeff Immelt – the chairman of GE? It is entirely likely that to Obama, “private industry” is personified in men like Immelt, Buffet, Soros, the Hollywood moguls and the investment bankers who backed his presidential bid. And you know what? These guys are doing fine. They would do fine in any economy. Unlike the rest of America, a million dollars is a rounding error when assessing their net worth.
Something else that these people have in common: they didn’t build that. People like Immelt inherited a job in a global conglomerate he didn’t build. Buffet amasses his wealth by buying companies other people founded, often buying them from heirs who don’t want to run the businesses their parents founded. Soros is truly a vulture, picking at the bones of dying economies.
Obama is a product of the Left who despise capitalism believing it to be parasitic and an exploiter of labor. What’s interesting is that Obama has surrounded himself with the very crony capitalists who fatten off their ability to influence government for their benefit at the expense of the rest of society. He sees that and knows that they didn’t build the source of their wealth and that they’re doing fine.
In a display of cynicism that is truly breathtaking he’s trying to form a coalition of crony capitalists and the underclass. A coalition of people who live off the government dole and those capitalists who didn't build what they control and who are doing fine thanks to their crony in the White House. The objective is electoral victory at the expense of the broad middle class.