What conception of capitalism do you have if you are attacking your opponent for entering what is the risk-taking of capitalism?

Via Breitbart.tv.

UPDATE (12/14): George Will: Newt Gingrich commits a capital crime

Romney, while at Bain, performed the essential social function of connecting investment resources with opportunities. Firms such as Bain are indispensable for wealth creation, which often involves taking over badly run companies, shedding dead weight and thereby liberating remaining elements that add value. The process, like surgery, can be lifesaving. And like surgery, society would rather benefit from it than watch it.

Romney surely anticipated that such an attack would come — but from Democrats, in the general election, not from a volatile Republican. He now understands Rep. Paul Ryan’s response when Gingrich attacked his entitlement reform as “right-wing social engineering.” Said Ryan: “With allies like that, who needs the left?”

The Democrats are going to get beaten badly in November. Not just because the economy is ailing. And not just because Obama over-read his mandate in governing too far left. But because a comeuppance is due the arrogant elites whose undisguised contempt for the great unwashed prevents them from conceding a modicum of serious thought to those who dare oppose them.

Pedestrian is beneath Obama. Mr. Fix-It he is not. He is world-historical, the visionary, come to make the oceans recede and the planet heal.

How? By creating a glorious, new clean-green economy. And how exactly to do that? From Washington, by presidential command, and with tens of billions of dollars thrown around. With the liberal (and professorial) conceit that scientific breakthroughs can be legislated into existence, Obama proposes to give us a new industrial economy.

From Charles Krauthammer:

Liberal expressions of disdain for the intelligence and emotional maturity of the electorate have been, post-Massachusetts, remarkably unguarded.

Obama actually said [to the U.N. General Assembly], “No one nation can … dominate another nation.” That adolescent mindlessness was followed with the declaration that “alignments of nations rooted in the cleavages of a long-gone Cold War” in fact “make no sense in an interconnected world.” NATO, our alliances with Japan and South Korea, our umbrella over Taiwan, are senseless? What do our allies think when they hear such nonsense?

Obama doesn’t lie. He merely elides, gliding from one dubious assertion to another. This has been the story throughout his whole health-care crusade. Its original premise was that our current financial crisis was rooted in neglect of three things — energy, education and health care. That transparent attempt to exploit Emanuel’s Law — a crisis is a terrible thing to waste — failed for health care because no one is stupid enough to believe that the 2008 financial collapse was caused by a lack of universal health care.

Nor has anybody adequately explained what the crash had to do with education or energy. OK, maybe the price of fuel? But why is the solution to make fuel and energy even more expensive as part of a climate bill that is nothing short of job-assasinating national self-flagellation?

Obama fancies himself tribune of the people, spokesman for the grass roots, harbinger of a new kind of politics from below that would upset the established lobbyist special-interest order of Washington. Yet faced with protests from a real grass-roots movement, his party and his supporters called it a mob — misinformed, misled, irrational, angry, unhinged, bordering on racist. All this while the administration was cutting backroom deals with every manner of special interest — from drug companies to auto unions to doctors — in which favors worth billions were quietly and opaquely exchanged.

After a disastrous summer — mistaking his mandate, believing his press, centralizing power, governing left, disdaining citizens for (of all things) organizing — Obama is in trouble.