Why is Ezra Klein considered one of the Left’s smartest bloggers / pundits? What criteria are they using? Does the ability to take the latest Center for American Progress’ talking point memo and rewording it make you “smart” among the Left? Or is it his ability to use some other Soros-funded think tank’s analysis in order to argue that up is down? It’s baffling. Naturally, MSNBC seems to be grooming him for TV — he guest hosts a few of their shows — but why?
This IQ-sapping post about the recent bankruptcy of solar-power technology developer, Solyndra, is a perfect example of Klein’s “smart” – read “not really very smart” – analysis. (via Washington Post)
I don’t know all the specifics behind Solyndra, the solar-power company that the White House touted as a successful renewable-energy investment but which went belly-up this week.
He should have stopped right there, but the failure is a very high profile one for progressives, the “green” agenda, and Obama, so Klein had to comment — and this is his problem. He takes it upon himself to be the guy who tries to explain to the peons out there why progressivism’s failures aren’t failures. For some inexplicable reason, editors and program managers out there keep paying him to do it, too. And then there are all the people who read his “analysis” and agree with it! It’s unreal.
To his credit, Klein did at least point to an article (also on Washington Post) which does a good job reporting how the $535 Million government-backed loan Solyndra received was sketchy. Chances regular Klein readers actually read the other article? Slim. They’re not there to read about the deal or if it was a wise investment. They’re on Klein’s blog to be told that a massive failure was okay. They want to hear that Obama made the right call and that Klein is going to give them a warm fuzzy feeling if it’s the last thing he does.
But as a general point, it’s entirely possible for the initial investment to have made sense and for the company to have eventually failed. If we’re going to try to support young companies doing risky things in sectors that we’re hoping to dominate, we’re going to have to be prepared for some of them to fail. In fact, we should be hoping some of them fail. If our success rate is too high, it means government is making bad investments.
There’s so much wrong-disguised-as-common-sense in this paragraph one could probably write a book about it. Klein seems incapable of asking himself if the Federal Government should be doing this at all. Should it be supporting young companies doing risky things? The question has probably never crossed his mind.
If “we” as a society are hoping to dominate the solar power sector, wouldn’t the private sector be all over it? The failure to ask these questions leads to the two ridiculous sentences at the end of the paragraph. No one hopes some of their investments fail. No one. And the government, particularly, shouldn’t hope their investments fail because they’re not investing their own money. They’re investing taxpayer money that is not being voluntarily given. They’d better have a really high success rate! If not, they shouldn’t be doing it!







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