How many times have we shouted loud and clear “Throw the bums out, give us anybody but who we have now!”
Whether it was President of the United States or Town Highway Superintendent, when we’ve had enough, we’ve had enough.
Usually, riding that wave of antagonism is the candidate who says all the right things. For example, “When I’m President, I’ll create those jobs, I can do that.”
“No one will go hungry, I can do that!”
“And when I’m President, there will be world peace, I can do that!”
The Highway Superintendent says, “In winter, no more salt on the roads, we’ll spend more money and use gravel and sand in order to save your car from rust, I can do that!”
“We’ll put stop signs wherever you want to ensure safety for everybody, I can do that.”
Next, “I’ll give everyone an electronic remote control that changes red lights to green so you’re not late for work, I can do that.”
Like the television commercial that utilized the “I can do that” banner, when the candidate finally does get elected, the newly chosen official usually asks the question, “How am I gonna do that?”
Unfortunately, as voters, we’re usually ready to cast our ballot to the person who’s best able to tap into our wants and needs.
Irrespective of whether these promises make any sense or not, the candidate will offer us whatever it is that we want.
Typically, the candidate has absolutely no idea what they’re talking about, but it plays very well as a sound bite.
The problem arises when the candidate wins and then must deliver on his or her promise.
At that point, it’s no longer a campaign pledge, its campaign delivery.
That brings us to Spanish Prime Minister Mariano Rajoy, who has found himself in the age-old quandary of how to stay true to his campaign platform.
Rajoy campaigned on the promise that since the conditions for help by the EU, ECB, and IMF would be so onerous, he would avoid that strategy like the plague.
Spain is for Spain, he essentially told supporters, then Mariano basically said there’s no way that he would make the Spanish nationality subservient due to past excesses.
The realism conclusively set in as Mariano the Prime Minister, not Mariano the candidate, finally got a look at the books and recognized that Spain had no other choice than to seek financial help.
Regrettably, such a promise made and then subsequently broken so quickly usually makes for a very short political career.
As we countdown the days until Rajoy finally relents, it will very interesting to see how Rajoy the Prime Minister is able to spin the contradiction with Rajoy the candidate, when he must finally ask himself “How the heck am I gonna do that?”
Along with his 40-years of dedication in the financial services industry, Bill is the President and CEO of GPSforLife, has recently authored a highly successful book entitled 44th: A Presidential Conspiracy, publishes his dynamic monthly financial newsletter MacroProfit, and faithfully continues his third decade on the radio with It’s All About Money, which can be heard weekdays on Money Radio in Phoenix and in podcast form on his website (and on smartphone apps) published at billtatro.com weekdays at 5pm Eastern. Bill can be reached via email at firstname.lastname@example.org and on Twitter @tatroshow.
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