We have many of the “hope and change” zealots looking to the January inauguration as if some magical fog is going to immediately change the world the day the O’bama starts work. Meanwhile, in the real world, we’ve already started to experience the backpedaling by the O’bama team… Set expectations so low at the surgery that if the patient comes out alive, it’s considered a success… As always, a great analysis from Victor Davis Hanson:
All the campaign talk of the Great Depression, a Vietnam-like war, and our shredded Constitution will now thankfully subside as the Obama administration assumes office and solves problems with conciliation, dialogue, and multilateral wisdom, rather than shrillness, unilateralism, preemption, and my-way-or-the-highway dogmatism. We will hear that by historical levels unemployment is still not that bad, that GDP growth is not historically all that low, and that deficits, inflation, interest rates, and housing starts are all within manageable parameters. “Depression” will transmogrify into “recession” which in turn by July will be a “downturn” and by year next an “upswing” on its way to boom times.