Friday, December 12, 2008

My prediction on the auto bailout

Okay, maybe I'm still feeling heady from my dead-on accurate January 3, 2008 prediction of an Obama victory, and maybe I shouldn't do anything to jeopardize my streak, but I'm going to put on my prophetic robes once again and offer up another sibylline utterance, this time on the auto bailout.

Ready? Here goes...

The Republicans, who seem to have stopped the auto industry bailout in its tracks, will disappoint those who are now cheering them on--and who are under the mistaken impression that it has something to do with economic principle--by folding after they have received some concession from the Democrats or the UAW.

The Republicans have lost their majority in both chambers, and the best thing a party on the outs can hope for is to look relevant.  If they just stop the bill, they are afraid they will simply look intransigent.  But if they just hold up the whole process temporarily, exact concessions from their political opponents, and then let it through, they can avoid appearing as if they are contributing to gridlock, and declare victory because they will appear powerful and relevant.

This is how the game is played, and, unfortunately, economic principle really doesn't figure into it at all.

This prophecy not only has divine inspiration behind it (as all true prophecies must), but, to be blunt, we've seen this happen many times before.

The Prophet hath spoken.

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