However, as I wrote two months ago before it became a national issue weeks ago, Romney, the presumptive nominee with all but assured wins in South Carolina and Florida in coming weeks, already has his Achilles heel exposed - Bain Capital by his own party. This will be the main issue of the 2012 campaign. You can look back to the 80's with firms like Bain executing LBO's and industry roll-ups and see the beginnings of the de-industrialization of the US. For example, they buy an American firm; shut down the factories and outsource to China; streamline operations while conducting M&A within the industry. Three years later......an IPO and hundreds of millions in profit for the investment bank.
There are benefits to this approach as well as negatives on a deal by deal basis. However looking back over 30 years, these activities, in conjunction with 'free trade' treaties like NAFTA and GAAT, have created a USA service and consumer economy; built up a potential adversary in China; made a wasteland of the heartland of industrial America; and through strategies such as 'maximizing shareholder value' have created an economy where there is little future for college graduates or for those seeking a middle class blue collar job.
Therefore, the GOP in nominating Romney (as the poster boy for these policies), will have to defend this conscious and deliberate wreckage of the US economy. In the pivotal states like Michigan, Pennsylvania and Ohio, I am sure Obama will pound this message home. In the South, Romney will have to defend his religious cult affiliation.
They don't call it the stupid party for nothing.
Pat Buchanan Weighs In On the Topic
2 comments:
Mr. Mulvey
Glad to have found your blog.
I found it from seeing your
posts on Chronicles. Reading
about John von Neumann made me think of my father, Peter, who
studied under the Australian physicist, Oliphant, in Birmingham, England who I believe also worked on the Bomb.
Patrick....glad you like the post. Your father was lucky to be involved with such men. I met Herb towards the end of his life but you can see in his eyes the excitement of being on the cutting edge of science. It is also the same look that I have encountered from very holy men that I have met in the past. They are all looking at the same Thing from different perspectives. God bless, Patrick
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