Everyone on the Republican side is sucking up to the anti capitalist left – including Sarah Palin and Christine O’Donnel. None have the will to reverse the policies that are ruining the economy, making the middle class poor and insecure.
So, when elected, will get the blame for the consequences of these policies. Since the supposedly hard core capitalism of the Republicans will not work, obviously the solution must be more socialism.
Sarbanes–Oxley, the regulatory door revolving, and Basel, have installed in power a permanent business elite that cannot lose power no matter how incompetently they screw up, and cannot be prosecuted no matter what criminal deeds they commit – foreclosuregate, the ratings agencies, and the leadership of the too-big-to-fail banks being examples of this problem.
The regulatory apparatus that locks this elite in place and protects them against market forces has to be removed – a program that is unthinkably and unimaginably radical, far more extreme than the most extreme of the supposedly extreme tea party candidates.
The problem is not the dramatic expansion of government spending. The problem is the vastly more dramatic explosion of the regulatory state such as, for example Sarbanes–Oxley, which has largely criminalized the great engine of jobs creation, ended the formation of new small businesses, and Basel, which gives the state, and such private enterprises as the state chooses to privilege, the task of assessing financial risk.