Implosion in the Wingnutosphere

08Oct08

History will record 2008 as the year that the unflinchingly hypocritical conservative/Republican paradigm of Shock Doctrine, Christianism, pro-torture, pro-wiretapping, pro-preemptive war, and rabid xenophobia dominating American political discourse since 1980, finally died. One need look no further than the principal cheerleaders and enablers of this catastrophe to see this collapse even before what looks to be an unprecedented landslide victory by Obama.

Michelle Malkin, the former Bill O’Reilly stand-in whose seething xenophobia got her kicked off Fox News of all places, has her head so far in the dirt that she’s been reduced to blubbering about some conspiracy linking George Soros to a canceled SNL skit. I shit you not – 4 separate posts in the past 3 days.

Powerline, which continues to trade on its reputation for discovering Dan Rather’s shitty hoax from 2004 to deliver verbatim talking points from the RNC and White House on a daily basis, even after Lehman Brothers, Merrill Lynch, AIG had collapsed on September 15 and 16, could only bring themselves to acknowledge that something had happened on Wall Street 3 times over the next week. No, they were too busy dutifully trotting out talking points about ACORN, railing against the suddenly sexist media bias against Palin, mischaracterizing Obama’s record, deifying McCain and Palin, moving from ACORN on to Ayers, and somehow finding the silver lining of Obama’s increasing lead over McCain.Ever the optimists, let’s review some choice quotes to ensure that they never fall into the memory hole:

Similarly, the Worst Economic Crisis Since the Great Depression is roughly a biennial event, occurring most often during election years. …The financial “crisis” is relatively manageable so far. While it has been disastrous for a few entities like Bear Stearns, Lehman Brothers and possibly AIG, the broader market has been impacted only slightly… For most people, the biggest financial impact will be the cost of federal bailouts of Fannie Mae, Freddy Mac and possibly other entities.

They’ve apparently metamorphized into a historical baseball blog revisiting old World Series matches. Yah, the past couple of weeks with an unprecedented financial collapse, huge government interventions into the market, the eve of a Presidential election, and two on-going wars aren’t occasion to discuss or opine on any current events. Oh, right and posting shitty Excel charts showing GDP growth since 1790 as though demonstrating our transformation from an agrarian economy 150 years ago somehow has some bearing on how governments and regulatory bodies around the world should address a unprecedented liquidity crisis arising from complex derivative instruments.

One has to go to RedState (the conservative counterpart to DailyKos) to find anything resembling the sobering realization that an entire political-economic school of thought has completely collapsed in the past month. In “Fixing the Credit Markets“, Blackhedd suggests that “It’s time to consider the option of a globally-coordinated move to nationalize essentially every major bank in the world.” Let that sink in. A blogger on one of the most prominent conservative websites arguing for the nationalization of every financial institution in the world. If something like this appeared on Kos, Think Progress, TPM, or Huffington a year ago, they would have gotten laughed off the stage, to say nothing of the ridicule and scorn that would have emanated from the right wing.

But, RedState, that bastion of mindless recitals of talking points and character attacks promulgated by the basest parts of the Republican party, featured a second article entitled “The conservative case for ‘Socialism’” scrambling to deconstruct and spin:

I do not believe that government intervention into the financial markets, particularly in cases of severe distress, is inherently socialist in any meaningful way. I assert that the financial recovery bill, and other interventions being made by the Treasury and the Federal Reserve are precisely that. We are not taking a planning role in the economy, outside of the bounds of the Constitution; we are taking control of our money supply, which is one of the duties of the government. We are not confiscating property; we are buying property at prices that are too high if anything. So please, to those who argue against the ‘bailouts’ going on right now, argue the policies on their merits. Talk about moral hazard, affordability, or the need for ‘creative destruction.’ But please, don’t talk about freedom, socialism or any of that, because none of it is at stake here. What we’re doing here is supply side economics. Just look closer and you will see.

I doubt The Onion or Stephen Colbert could have written the same. October 2008 is the month the music died for the GOP. The coming era of internecine warfare between the various constituencies of the GOP promises to be nothing if not entertaining. Just let them stay out of the way while the grown ups come in and clean up their mess.

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