Washington Is the New Wall Street

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Presidential candidate Herman Cain’s advice to Occupy Wall Street protestors to move camp from Lower Manhattan to the Capitol seems to grasp the national shift in wealth and power from entrepreneurs to bureaucrats. It’s not that Occupy Wall Street are merely wrong in their targets but late. The Dow Jones looks more like a bear than a bull these last few months. Why kick a stock broker when he’s down? The protestors’ simple-minded, single-minded solution to what ails America is to grant more power, and necessarily give more money, to Washington. If the misguided, multicity squatters had their way, the rich (i.e., Washington) would truly get richer. After a decade of intervention bringing contraction, the protestors call for more state intervention as a means of expansion. Only someone living in a tent could believe something so foolish.

There is a correlation between Washington’s wealth and America’s poverty. As was the case during the Hoover-Roosevelt years, government’s alarming growth during the Bush-Obama years corresponds to the private sector’s decline. The state has a printing press, but it can’t produce wealth. It can only seize it. A greater piece of the economy seized by the government necessarily makes a smaller pie for everyone.

That DC supplanted Silicon Valley as the nation’s wealthiest region is a substantive and symbolic reminder of the historic transformation underway. The former is a magnet for political entrepreneurs; the latter, for market entrepreneurs. Silicon Valley gave America Apple, eBay, and Atari, PayPal, NetFlix, and TiVo. And Washington, DC?

The capital’s growth is not about what DC makes. It’s all about what DC takes.

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  • Rifleman

    This is the number one clue that the flea baggers are full of it, and just soros/union/dp tools. They ignore the problem and go after a symptom, one that just so happens to be an old-school marxist target. American commies have been railing against "Wall Street lackeys," since the early 20th century at least.

    • Herman Caintonette

      The fatal flaw in Flynn's tendentious analysis (and, for the most part, the Tea Partiers) is that he believes that Washington is the core problem. OWS is going after Wall Streeters because they are the ones who have been buying up our politicians. Take money out of politics and create a mechanism for accountability, and you restore the Republic.

      • Rifleman

        As long as there are political favors, people will find a way to buy them, and the politicians and bureaucrats that dispense them. To take money out of politics you have to take their power and spending.

  • sedoanman

    The shift is not recent; it came long ago. When the Great Depression hit, Old Man Kennedy correctly predicted that power would move from Wall Street to Washington, and managed to get a political appointment out of Roosevelt.

    Working on the West Coast, I had many occasions to travel to D.C. over the period from 1972 to 2002, and on every trip I was amazed at all the construction going on. Through good times and bad, it didn't seem to matter.

    • http://www.flynnfiles.com Dan Flynn

      Ironic that you should cite the Kennedy patriarch: I planned on using the very quote you reference in the article as a sort of prophetic historical reference point for political entrepreneurs overtaking market entrepreneurs. Alas, it didn't make the final cut. I almost fell off my chair when I read your comment. Amazing. And as a former DC-area denizen, I too was amazed at the constant construction. My neighborhoods changed even when I didn't move.

      • gatekeepbeta

        Agree here, good points guys. Muay Thai

  • StephenD

    Stick around. Just wait until we're asking the Federal Government to maintain order in our streets and they oblige with Martial Law. You think we pay a lot now….

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