President Obama’s popularity continues to head south. Explanations abound. Here’s mine.
Obama’s problem is that, as the quintessential central planner, he had every confidence he could “make it all work” — what Nobel Economist Friedrich Hayek called “the fatal conceit.” Obama made scores of performance promises, and delivered on almost none of them — while screwing things up royally because of the “Law of Unintended Consequences.”
It’s not so much that he lied as a candidate — I think he actually BELIEVES what he says. But he’s working in a job that is WAY above his capabilities and understanding. Even worse, all his advisers come from the same DC Disneyland School of Economics.
Unfortunately for Obama, snippets of every major smug, unfulfilled promise he made on the campaign trail are now showing in dozens of derisive videos posted on You Tube and other Internet sites.
In short, Obama is an articulate, even charismatic dolt who — as the “Peter Principle” predicted — has now risen to his level of incompetence.