We’ve talked about the importance of our Galtian overlords’ fee fees a lot here over the past few months. But I’d like to know: When did rich people become so touchy? Where are the stiff upper lips and WASPy reserve of yesteryear? Rortybomb (via) says it’s all in the conservative game:
To bring it back to conservatives, if you are the type who worries about (yet secretly hopes for) the time in which the business community leaves our country to create a gulch utopia, Obama saying very polite things about business leaders while letting them write regulatory rules is much more important than whether or not he gets people appointed to the Federal Reserve and draws lines in the sand over government stimulus.
The notion that economic growth depends crucially on the subjective feelings of the business executive class is one of the most pernicious ideas to take hold over the past 12 months. One should distinguish this hypothesis from the accurate point that rational expectations matter in the economy. Expectations do matter. But this is often confused with the idea that if the waiters at Davos are rude this year the economy will go into a recession, but if Obama gives a CEO a really sensual back rub growth will return.
I don’t remember things being like this in our past few recessions. I don’t remember Ronald Reagan being asked to suck off the Hunt brothers — though I’m sure he would have for the good of the nation if necessary, he was a great patriot. And no one seemed to think Al Gore’s humiliation of Ross Perot in that televised NAFTA debate hurt the economy too much.
Could one of you photoshop emopants onto one of those rich people New Yorker cartoons?