Someone is going to take the blame for this

[phantom power]

Again, this is an example of where the bully pulpit is an important tool. Placing blame, advancing the narrative, etc.

...that's what happens when you trade real wage growth for illusory asset growth. Bubbles burst, and then all of that "wealth" disappears.

Beyond that, this sort of thing can't happen without major voter outrage. They're going to take it out on someone. Someone will be to blame.

And if it's not going to be where it belongs on the top 1%, it'll be on other people. Like people who have the audacity to receive a decent pension.

There's an myth in American politics that all a president needs to win is optimism. Reagan is often cited as a prime example. But Reagan didn't just win with optimism. He also won with a big dose of racism, lies about Jimmy Carter, and a radical ideology blaming government for everything wrong with the country. When times are tough, people will seek out a villain. If they're not pointed in the right direction, they'll find one in the wrong direction.

http://digbysblog.blogspot.com/2012/06/someone-is-going-to-take-blame-for-this.html

[Doctor_J]

1. The president decided to make nice with the culprits instead of lambasting them

and undoing their policies. That will turn out to have been a grave error. that is, if it really was an error. He may have been put in the WH to finish the destruction of our great nation.

[dionysus]

3. more Manchurian Candidate conspiracy woo...

[Doctor_J]

4. OK, I'll give him the benefit of the doubt

he didn't do it on purpose, he was conned and blind-sided by the Repukes. Hard to believe the man who appeared so smart during the 2008 campaign is really that dumb, but have it your way.

[Capt. Obvious]

2. "people will seek out a villian"

True!

Vampire predators like Bain Capital make a good villian.