February 21, 2013
VDH on 'The revolutions we missed'
Contemplating President Obama's once-heralded transformation of our nation, Victor Davis Hanson observes that "most of us are still not quite aware of how vastly different the world of 2013 is from even 2008." Hanson notes that just as we were scarcely aware of the replacement of books and conversation with IPhones and texting, larger revolutions are flowing by our slumbering selves. A few passages from this brilliant piece of writing illustrate the profound changes that we have barely noticed: Discussing the Federal Reserve's money-printing and the consequent negligible savings interest rate, Hanson says think of the billions of dollars in cash that are silently transferred from those who have saved to those who have no cash. The former receive little or no interest from the banks. The latter take out mortgages or car loans at historically low interest rates. Did the president ever mention this revolution, among his boilerplate of "millionaires and billionaires," "pay your fair...(Read Full Post)