Gingrich

Is A Capitalist Raider What America Needs?

Merely mentioning politics today gives rise to sequential eye rolls, groans, and headshakes. Campaign speeches imbued with empty rhetoric oftentimes leave Americans exasperated, suspecting that candidates possess little knowledge of the issues discussed.  Politicking in 2012 appears be nothing short of conventional.

GOP candidates, recurrently garnering media attention for their inanity rather than insight, have yet to recoup Americans’ faith in politics. In fact, last month’s Gallup polls revealed unprecedented levels of cynicism regarding our political system and the electoral process. Congress’ job approval rating stands at a meager 17%, the worst in Gallup history, and 70% of Americans “can’t wait for the campaign to be over.”

To make matters worse, Americans are learning very little from this dreaded campaign process. After enduring over twenty debates, voters are still uncertain who they will support come November,[1] while those who have decided on a candidate remain unenthused.  Even the candidates themselves have grown weary of debating, a process that Romney’s strategist Stuart Stevens aptly refers to as “a cruise that’s gone on too long.”

The only person that seems to have truly benefited from the primary debates is intellectual giant Newt Gingrich, whose ratings soared in the initial debate period.  The New York Times bestselling author churns out numerous books each year, devises solutions on issues ranging from health care to UN insufficiencies, and sets up think tanks like neighborhood lemonade stands. Americans were relieved to find a candidate who could name three government agencies with ease and had a list of exclusively consensual extramarital affairs; for a fleeting moment, Gingrich was the favored GOP gem.

But then, Gingrich attacked Romney’s private-sector success. This unfounded criticism, a potentially fatal blow to his conservative platform, reminded America of his careerist tendencies and lack of real world experience, both of which may have precipitated the once-frontrunner’s downfall.

Gingrich’s characterization of Romney’s Bain Capital venture is not merely simplistic, but truly perverse. On NBC’s Today show, Gingrich strayed from his pro-capitalist rhetoric and described how private equity is inconsistent with “traditional capitalism.”  Private equity, Gingrich explained, is a process in which “somebody comes in, takes all the money out of your company and then leaves you bankrupt while they go off with millions.”

Many have already condemned Gingrich’s economic analysis.  Former New York City Mayor Rudy Giuliani told Fox and Friends that Gingrich’s “ignorant populist view of the economy” was not only incorrect, but also “bad for the republican party.”  Perhaps if Gingrich spent more time outside of the beltway, he would appreciate private equity as an example of the natural cycle of capitalism.  Private equity firms acquire businesses, paying owners a large sum of money to be reinvested elsewhere.  The purchased business is developed and improved via the firm’s resources and capital, and then sold or taken public, thereby creating value for the private equity company’s investors. Although businesses do not always do as well as planned, the process is generally one of value creation.

America does not need a member of Mensa to run the country, but someone with a deep understanding of the real world and real economy will be crucial to get America back on track.  Gingrich hoped to benefit from exposing Romney as a capitalist raider, but many Republicans have now realized that the candidate’s experience as a private sector “vulture capitalist” is actually his greatest attribute.


[1] http://www.washingtonpost.com/blogs/behind-the-numbers/post/poll-watcher-gop-still-unsure-of-candidates/2011/12/13/gIQAxxI3tO_blog.html; http://chicago.cbslocal.com/2012/01/02/iowans-still-undecided-on-republican-candidate-for-president/

Alex Rued :: Hamilton College :: Clinton, New York :: @AMRued

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8 Responses

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  1. Mafia Rose
    Jan 23, 2012 - 04:14 PM

    I don’t disagree with everything you say, but this piece is clearly coming out a bit too late, considering Newt’s been on the rise and, should he secure the FL delegates (first WTA state), will be well on his way to victory (momentum considered). The one point I would disagree with most is what lead to Romney’s momentary rise in popularity, which occurred prior to the attacks launched by Newt. And the cause of that rise? Negative campaign ads and the Christmas holiday.

    First…Romney was running tons of negative campaign ads against Newt, using the millions of dollars his campaign has accumulated. Whether we like it or not, negative campaigning has repeatedly been shown to be quite successful…and it worked for Romney, too. When Newt realized that he would not be able to keep to his original promise to keep things positive (because others were not doing it), he did what he felt needed to be done to win…go negative.

    Second…The primary thing that had lead to Newt’s original rise was his intellect and debate skills. He’s obviously experienced and skilled at debating. He’s been in politics since long before you were born, so he has a lot of knowledge and facts in his head that work to his advantage in the debates. And whether you like Newt and/or agree with his policy stances or not, he is an excellent debater. Over the holidays, we had a long break from debates, with most of our political information coming from the MSM and TV and radio ads. That’s what lead to Romney’s rise. He’s clearly been the candidate of choice of the MSM for a long time and has much more money than anyone else to put into TV and radio ads.

    What’s happened since then is the debates have started back up and Newt has launched his own negative campaign against Romney. The result we’re seeing in Newt back on the rise. The bottom line is that Republicans seem to be made up of two different groups of people, the Romney crowd and the anybody-but-Romney crowd. The ABRs have been fluctuating between the various candidates, trying to narrow down their pick, they haven’t really ever seriously considered voting for Romney.

    Reply
  2. Keith Totherow
    Jan 23, 2012 - 01:15 PM

    If Grinrich is an intellectual, then I rue the day I learned how to read!

    Reply
  3. Wrangler
    Jan 23, 2012 - 09:58 AM

    This piece obviously penned by a Romney enthusiast . This time around ,considering the circumstances , you better hope someone gets the nomination who’s focused on removing everything Obama has perpetrated on this Nation. I can assure you that’s NOT Romney , its not in him .Romney has made the statement in public numerous times that Obama is not a bad guy , he just lost control of the economy. That’s weak sister talk. At least Gingrich is street savvy ,and obviously capable of getting the point across. If Obama is not removed legally before election time it will make everything irrelevant , including the issue mentioned in the article above. Better wise up, The US must have someone who is capable of confronting and challenging to get every point across to voters .& the competition,..Again , that’s not Romney .

    Reply
  4. Dawnsearlylight
    Jan 23, 2012 - 08:33 AM

    @PAULBOT2012 Did you even read her article? She was making a good point about the free markets and how Romney has actually lived it. I would like Ron Paul also, but realize that I may have to hold my nose and vote for anyone but Obama.

    Reply
  5. Ron
    Jan 23, 2012 - 07:15 AM

    You need to look a little deeper into this…… Gingrich has short comings…Not unlike some of our past presidents. We need leadership and it has become clear Romney ‘ain’t’ the guy. Not because Newt is talking about Romney’s past….Everyone is talking about Gingrich’s past also….Strength in a person is hard to measure….It is something sensed more that seen… Watch these two men together and ask yourself what do sense that is different between the two? Don’t let your biases and the political platitudes get in your way.

    Write more… Keep asking questions …Be counted…
    Ron

    Reply
  6. bonncarusobonncaruso
    Jan 23, 2012 - 03:56 AM

    I, as a progressive, hope very much that Newt gets the nomination. As bloviating as he is and with his baggage, which is extreme, then he loses 40-60 to President Obama. So, please, support Newt Gingrich!

    Reply
  7. paulbot2012
    Jan 23, 2012 - 03:21 AM

    “Someone with a deep understanding of the real world and real economy will be crucial to get America back on track.” This is not millionaire newt. By no stretch of the imagination does that slime have any great attributes. OPEN YOUR EYES. He is nothing but a corrupt chickenhawk who didn’t need to do anything more than steal talking points to be hailed as an intellectual giant. To think that people would actually support him would destroy the last shred of faith in humanity I have if it weren’t for Ron Paul building massive support like he is with a message of freedom and sound money you will never hear from this creep! President Paul!

    Reply

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