Obama vs. Romney.

This time around, there is no great black hope, no chanting, “yes, we can.”, no Black-eyed Peas reminding us that the future can be different, if we are willing to elect a reasonable man or woman to the highest office in the land.

This time around, we have seen what 3+ years of a reasonable man can do in that office, and we are deflated, depressed and disenfranchised even further than we were under eight years of the Bush presidency. How could that be even possible?

Did we really just witness 3+ years of congress doing imitations of the ultimate fighting championships, promoted to kill any legislation that Obama was behind, just because he was behind it, regardless of its impact on the American people? Really? I thought the Clinton years were brutal, but those were kindergarten neener-neener nasty compared to this. And, they even included an impeachment.

I really can’t take any more of this. Even the thought of voting for Romney is crazy. Is that what people want? Back to No future III? The Bush years revisited, but with a Republican congress? You like this quarter’s jobs report? You’ll LOVE it under Romney. You like the state of housing? Romney will give you a boner. You like the cost of health care? Romney will make it even higher. You like social programs for those who are in trouble? Forget about it. You like rich guys being protected by the government and helped to get even richer? You will be in heaven.

Do we need to be reminded that our current predicament is the result of eight years of Bush policies? Really?

Deficit spending: higher under George Bush. Military spending: higher under George Bush. National Debt: higher under George Bush. Government employment: higher under George Bush. Pace of the increase in National debt: higher under George Bush. Authorization for  the biggest government handout in history: George Bush.

When Obama took office, the first thing he got to witness was the implementation of the most poorly thought out policy dictate in American history, an $887 billion bailout of the nation’s banks. Obama didn’t get a vote in this. It just was. And, guess what? It wasn’t enough. We needed to bail them out some more. Then, the banks hunkered down and we haven’t seen them since (except when trading derivatives and disclosing over-exposures to European trading partners). Credit? HA! You want credit? You get Yogi Berra credit. You can have all you want as long as you don’t need it. If you need it, you can’t have it.

Then the housing market crashed, but banks didn’t like the way they filled out those pesky loan documents, so they sort of delayed full disclosure on their exposures. Now, we all see their exposures and nobody likes it, especially the banks. Obama said, “Shouldn’t the banks be held to some accountability if we are going to keep them afloat?”, and congress laughed. That boy clearly doesn’t understand how the game is played, does he?

He tried to close Guantanamo like he promised, but congress said, “Hell no, boy. Don’t you understand people don’t want those ‘ragheads’ in their neighborhood prisons?” as if someone actually asked anybody what they wanted? Nope – not how it’s done.

He authorized a (relatively) small bailout for the auto industry and guess what happened? The industry is stronger now than it has ever been, and they all paid their loans back well before they were due. Detroit has jobs now. People are working in the auto industry again. Did you know that? Probably not, because Obama’s message seems to get drowned out in the air waves, or nobody seems to remember how bad it was, just 3 years ago. Or, how scary.

I think, based upon looking at the polls, people don’t remember anything that happened yesterday. This country polls hugely (above 65%) in favor of every component of what is now known as Obamacare, yet when asked whether they approve of Obamacare itself, they poll negative. How can that be? Oh, that’s right. The Kardashian’s are making $40 million a year and have renewed their insane reality show for another five years. Now, it all makes sense.

Obama tries to take credit for ridding the planet of the most dangerous terrorist that ever lived and people pretty much yawn.

What have you done for us lately, I guess? Seemed like a pretty big deal when Bush was in office. Whatever.

Jobs? Obama has clearly failed to create any new ones. But, when he actually does something to try and create new ones, he gets shot down in congress. The JOBS act struggled to get out of a Democratic controlled Senate with major revisions and is now stalled out in the SEC during implementation over petty issues surrounding accreditation of lenders. Come’ on, man! Is this what you people want?

How about at least prosecuting the ‘criminal’ banks? Are you kidding me? Not one banker does any jail time, yet they all played a major part in taking down the world’s financial system as we knew it, and it will probably get much worse. Instead, his AG gets rung up on contempt of congress on some nonsensical ATF screw-up that no one cares about, least of all the guys still looking for work in their 24th month of unemployment.

I mean really. This is what congress focuses on? This is way worse than re-arranging deck chairs while the Titanic sinks.

A couple of inherited wars? Obama ended one and has begun to end the other, meanwhile avoiding the “crazies” in Iran and their brinkmanship. Silly people; they want their own nuclear bomb just like the big guys. Where do they get off? Israel? The peace process grinds along and Obama has done as much or as little to placate all sides as anyone before him, while trying to keep the Israelis in a state of reason.  But, no way is Obama a tough war president like Bush or that Romney guy, both of whom are delighted to send our young men and women into harm’s way, particularly if there is oil or other stuff we want. National security, you know.

Health care? Never mind that he risked almost all of his political capital to usher in the most revolutionary health care reform bill in history, and the people LOVED it (see above), but he also frightened the living skittles out of the insurance companies and lobbyists at the same time. How many times has your health insurance premiums gone up in the last twelve months? There is a reason for that, and yes, we are on the path to a single payer health plan … unless, of course Romney gets elected. In that case, Obamacare will be overturned (though it will be interesting to see how he actually does this) and 33 million Americans can return to having no health care, along with all of the college students now on their parent’s plans for a few more years. Pre-existing conditions? Forgetaboutit.

And then there’s the economy. Give me a break. If this election is won or lost based on the economy, Obama is history. The economy is lousy now, hasn’t improved in the slightest in the last 4 years, and is about to get really bad. The only thing we can be sure of is that we are hopelessly overexposed to Europe, the European bankers are even bigger liars than our own bankers, and when the sizzle finally hits the fan, the US banks and the US economy will be a disaster. The recent jobs report will look the same or worse for the rest of the year. Housing hasn’t budged and won’t, except to fall even further. All of that, we can be sure of.

But, the election shouldn’t be won or lost based on the economy. Generally reasonable people should conclude that no one individual, especially the president of the US, can actually do anything to alter this course, and that many complex factors must resolve themselves before any of this can begin moving in the right direction. Factors that rely on individuals at the levers of power to do things that are in the interests of the general well-being of mankind, as opposed to their own private interests.

Fixing this mess will require that the Fed and Treasury break some rules and force bankers to do truly radical things like forgiving all of the bad mortgage debt, for openers. Stop collecting bad debts. Open their credit drawers to small businesses and returning vets and people who used to have good credit. In other words, pitch in and help.

Our current situation is in many ways, reminiscent of World War II. A small group of evil men determined to wreak havoc on the rest of global society with the fiercest and most treacherous means available at their disposal. But, instead, a few good men stood tall and acted like the statesmen they were, and inspired the rest of us to carry on and fight the good fight. And, they called for immense sacrifice.

We went without – a lot of stuff – for a long time. Rules were broken and changed. There were very few sacred cows untarnished. The future of the world was on the line. And, because of all of that, the people banded together and prevailed.

This election also needs to be about statesmanship and leadership.

We face three major disasters today — the first being fallout from the financial recession of 2008 with respect to the balance sheets of consumers and government entities. The collapse of housing prices destroyed trillions in family assets. The median net worth of families in the United States dropped by 39 percent over a three year period — from $126,000 in 2007 to $77,300 in 2010 – leaving family wealth back where it was in 1992, two decades before.

Second, the housing collapse led to permanent damage to our financial and banking system. Banks are not making normal loans because they still have a lot of bad debt on the books and they are uncertain about future regulatory requirements, and global financial developments. As much as I hate them, they are doing what is right for their shareholders. But, what they are doing is wrong for the world.

And third, our enormous government debt breeds uncertainty. No one has any idea how we can pay this debt down, and especially when Congress continues to do their UFC imitations and seems completely unable to function.

And, we face one huge potential disruptor – the coming financial fallout from the impending collapse of most of Europe and many of their most prestigious banking institutions. This event will create panic, banking disasters, it will plunge the economy even deeper into chaos and cause even greater job loss.

We can avoid all of this, but it will require a summit like no other and leadership rarely witnessed in history. It will require that we throw away all convention and determine to start anew at whatever cost and whatever pain to those most heavily invested. I once asked the head of Levi Strauss’s Jeanswear division why they decided to stop shipping product to China and he said, “The Haas brothers don’t need any more money.” Well, I think that reasoning applies aptly to a lot of people in power today as well.

How can we stop all this?

Whether you’re a Republican or Democrat, Conservative, Liberal or Libertarian, we need to vote for a leader and a statesman. The only man running, who is capable of delivering speeches to raise the spirit and pride of the American people, who is driven by reason and not by politics, who can conjure the presence and will of Roosevelt and Churchill, Kennedy and Lincoln, and who can summon our courage and strength when we will need it most. There is only one who can bring global leaders to a summit and get them to do the hard things that must be done to put a stop to this spiral. There’s only one statesman running, and his name isn’t Mitt Romney.

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About Steve King

iPeopleFINANCE™ Chief Operating Officer. Former CEO of Endymion Systems, Inc. a $36m Information Systems Services company. Co-founder of the Cambridge Systems Group, the creator of ACF2, the leading IBM Mainframe Data Center Security product; acquired by Computer Associates. IBM, seeCommerce, marchFIRST, Connectandsell alumni. UC Berkeley alumni. View all posts by Steve King

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