Happy New Year!

This bit of neighborhood graffiti seems appropriate to the morning after a defeated political party representing whining oligarchs extorted yet more breaks from a conciliatory President. Dude doesn't ever seem to realize that offering reasonable compromise to bullies only whets their appetites.

Here's Paul Krugman's take:

Conceder In Chief?
...Anyone looking at these negotiations, especially given Obama’s previous behavior, can’t help but reach one main conclusion: whenever the president says that there’s an issue on which he absolutely, positively won’t give ground, you can count on him, you know, giving way — and soon, too. The idea that you should only make promises and threats you intend to make good on doesn’t seem to be one that this particular president can grasp.

And that means that Republicans will go right from this negotiation into the debt ceiling in the firm belief that Obama can be rolled.

At that point he can redeem himself by holding firm — but because the Republicans don’t think he will, they will play tough, almost surely forcing him to actually hit the ceiling with all the costs that entails. And look, if I were a Republican I would also be betting that he’ll cave.

There are hardier Democrats than the Prez, but not enough of them. Rich people's class war on the poor and middle class will continue until the majority builds enough power to stop them. To be continued in 2013 ... Happy New Year.

In case you wondered, Eric Schmidt is the Executive CEO of Google and worth some $7.5 billion.