The Axis of Incompetence

There is an axis of incompetence that runs from New York to Washington, from Wall Street to the White House. All they know how to manage are elections.

The administrators, bankers, and consultants who, along with the generals and diplomats, handle the affairs of state have bungled everything given into their hands. They mismanaged the war in Iraq; they mismanaged the response to Katrina; they mismanaged the mortgage business; and now we know they mismanaged the investment business.

I predict that, in the years ahead, we will discover that other elements of our national affairs are hopelessly crippled and corrupt. Tuesday, the FBI announced that they have launched criminal investigations into 24 financial institutions. Who is surprised?

Tuesday these same men came before elected representatives of the people. They described in dire terms the economic threat facing the world. They presented a plan to bail out these under-investigation companies. They warned the Senators: “Unless you do what we say, recession is certain.

Do you believe them?

Why should we put any confidence in what they say and the proposals they make?

Even if we concur with their diagnosis, why would we trust them to manage this international economic crisis?

Think about the war. White House economic adviser Lawrence Lindsey, in a September 2002 interview with the Wall Street Journal, estimated the war in Iraq would cost $100 billion to $200 billion. He argued the cost was small in comparison to the Gross National Product, adding, “The successful prosecution of the war would be good for the economy.”

Most estimates now put the cost of our “shock and awe” at one trillion dollars. Dollar estimates do not include the tragic displacement and disabling of millions of people or the enormous damage our policy has done to American influence in the world (to say nothing of relations between Christians and Muslims—but that is another day’s blog).

Give us representatives who will not be stampeded into surrendering their responsibility to think for themselves and serve all of us. And give us a leader—Democrat or Republican or Independent—who will stand up to these “experts” and call their bluff—he will be the next President of the United States.

Thursday: How to Spend a Trillion Dollars


4 comments so far

  1. Pastor M on

    Psalm 146:3 comes to mind: “Do not put your trust in princes, in mortals, in whome there is no help.” In light of that, I’m not sure that anyone really knows what’s going on and how to deal with it, which really scares me all the more!

  2. Rick on

    This Bailout mania is crazy to me. Everything I hear them say sounds like a restructuring of the free market system to a more socialist friendly market. Another thing about this mess is that they’re proposing to pay the thieves that created this disaster billions to retire. This bailout sounds like we are attempting to put out a fire with a bucket of kerosene.

    George Bush’s inability to see a spending bill he doesn’t love is going to run us into a depression. What we need is a fiscal conservatism movement. We need to cut all taxes, reduce the size of government, lower the federal dept, and tighten the government’s belt by cutting wasteful federal programs.

    This Bailout plan sounds like something FDR would have done. I’m afraid that if we do this bailout it will go down in history as the straw that broke the free market systems back as we uncontrollably fall into Socialism, and government ownership of Wall Street.

  3. Camille Haggard on

    Please keep in mind that Alan Greenspan spoke of this coming financial crisis in 2005 when he said that FM and FM were both too large and its practices were not safe for the financial markets. The proposed regs to stop the growth and practices of these two govt. sponsored financial institutions were proposed and, low and behold, these regs had to go before Barney Frank’s financial committee which is controlled by the democrats (as is all of congress). He shot them down saying he saw no need for any regulations and his committee (to a democrat) voted against the regs. And I also agree that the wealthy greedy wall st. guys should have their “golden parachutes” taken away from them. No bonuses for assisting in destroying our economy and financial system. I have always been a realist, I have never had much faith in our govt, whether run by the repubs or dems. Man will always fail and we must plan accordingly–put your trust in God! Which also means we are to be fiscally resp. That’s enough said.

  4. […] The Axis Of Incompetence Oh how I absolutely hate incompetence! […]

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