Pajamas Media » Yes, John Edwards, There Are Indeed ‘Two Americas’

And after all, whether you believe the stimulus was an abysmal display of pork barrel, business-as-usual politics and non-transparency, or a bold first move by the new president, either argument will be moot if the stock market slides another 20% or unemployment hits double digits. If at the next Treasury auction, the U.S. government finds investors less interested in buying up more and more debt, it won’t matter what Barack Obama’s popularity rating was in February 2009.

It is true that the stimulus bill was just passed so we have barely begun to feel its real-world impact. But consumer confidence indicators and the stock market are predictive of future behavior. If investors are fleeing to gold and selling stocks, consumers are not planning any major purchases, and the banks are declaring a lack of confidence in the man charged with the bank bailout, that says something about the Democrats’ handiwork so far.

…Eventually the two realms — economic and political — will collide.

Yes, they will. As I have been saying for months, well prior to Obama’s election, in fact. I have repeatedly made the point that the Dems cannot stay within the political/economic dogma of their own party and at the same time solve the problems of the economy.

And that moment when the political and the economic reality collide has a name: Reality.

In this case, horrible, frightening reality. And at that point, the bankruptcy of the Democrat/socialist/leftist prescriptions will be as obvious as the bankruptcy of much of the rathole that will be our “bailed out” financial system.

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