Surprisingly, McCain Gets It.

I’ve been listening today to the political jousting over the financial problems our country is facing. Obama is claiming McCain “doesn’t get it.” Obama is trying to make “McCain doesn’t get it” his new slogan, hoping it will take off like “It’s the economy, stupid.” did for Clinton. It is plausible that McCain doesn’t understand the reasons for the financial problems we are seeing, and it is equally plausible that Obama doesn’t get it either.

Based on the news of today, McCain thinks that some financial charlatans have invented new and impossible to understand financial instruments (he said that even they don’t understand them) that amount to gambling and have rated them as reliable investments. BINGO. I have been saying this for years. McCain even mentioned specifically derivative investments, which are the exact source of the current financial instability. He gets it.

On the other hand, Obama blamed: 1. Bush, 2. lobbyists, 3. our economic system. Blaming Bush and lobbyists are stock complaints, nothing new or interesting there. But what does Obama mean by “our economic system?” I think our economic system is Capitalism. Does that mean Obama is against Capitalism? I can only assume so. I’m not sure if other people have picked up on this, but I expect them to soon.

Obama’s view of Capitalism comes from the people and institutions that educated him: Frank Marshall Davis (U.S. Communist Party), Columbia and Harvard. He sees Capitalism as the problem, not the solution. Obama has not told us his solution to “our economic system,” but I think it begins with an “S”.

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