Smart Remarks:
I ask: Can the average tea partyer explain how a credit-default swap works? Or how about a synthetic collateralized debt obligation? I've been devouring virtually everything I can about these and other financial weapons of mass destruction for months, and I'm still not sure I understand them completely. What I do understand is that these are the instruments that brought the economic house of cards down in fall 2008; and that those who invented them, who pushed and sold them, and who profited immensely from them, have escaped virtually every consequence generated by them. The very people who detonated this fiscal neutron bomb in the middle of our society not only still walk around free — they have managed to make even more money since that bomb went off.
Where is this in the tea party narrative? Let me put it another way.
The term "socialism" looms large in the tea-party vocabulary and psyche. But I want to know what tea partyers mean when they use the word. My impression is that they're talking about the benefits of a welfare state delivered to an indigent population — and only that.
What of big banks, whose losses have been socialized, but whose profits remain private? Isn't this "socialism" ? Isn't this "socialism" far more damaging to the republic?
My problem with the tea party is that in desperately wishing our problems were less complex, they've convinced themselves that the answers are simple. Tea partyers often tend to take the side of those who, as Taibbi notes, do understand the complexity, and as a result own the political power. The anger over the poor people who might get free medical care dwarfs the anger at the big banks that have been told, in effect: Do what you want, the government will never let you fail.
My experience has been that when you bring these issues up with a tea partyer, they're quick to say: Oh we're against that, too.
Just not as passionately.
If you call yourself a tea partyer, here's my challenge: Stop worrying so much about the poor people who are "getting something they don't deserve." Start worrying more about the very, very wealthy people who are getting something they don't deserve.
Stop complaining about the ingrates below and look up if you want to see who has really benefited from this "socialism."
Understand that as long as you don't, or refuse to grasp the complexity of what's happened to the U.S. and its economy, you and your simple answers are going to be co-opted and played by those with a vested interest in keeping you in the dark.