On Economics, He Knows Not What He Does
Sep 7, 2009 Political
BHO, our “Beloved” Resident, has been tinkering with the economy, and like a child who doesn’t know when to step away from his finger-painting, has been producing mud, instead of something we might want to put on the refrigerator with magnets.
His biggest problem is total ignorance of life in general, and the lessons of the Great Depression in particular. That would be OK if only he had advisors who were steeped in real- world economics, but instead, he chose to surround himself with cronies who believe as he does, a dangerous thing if you are trying to run a country, especially a country in economic trouble.
Now, because he has been listening to the wrong people, and also because he chose to string this crisis along, so people would have their attention diverted, and he could (hopefully) push through pet causes while we were distracted, we could be looking at another Great Depression, one that reduces our capacity as a country to respond to the world’s needs.
This is not good, and only serves to point out the ineptness of this administration.
There are “troubling similarities” between the US President’s actions since taking office and those which in the 1930s sent the US and much of the world spiralling into the worst economic collapse in recorded history, says the new pamphlet, published by the Institute of Economic Affairs.
In particular, the authors, economists Charles Rowley of George Mason University and Nathanael Smith of the Locke Institute, claim that the White House’s plans to pour hundreds of billions of dollars of cash into the economy will undermine it in the long run. They say that by employing deficit spending and increased state intervention President Obama will ultimately hamper the long-term growth potential of the US economy and may risk delaying full economic recovery by several years.
telegraph.co.uk
Too true- but then one asks the question, “Is this intentional?” I mean, if you take Rahm Emanuel at his word, where he states to “Never waste a crisis”, you have to ask yourself if the “crisis” is being extended artificially merely to push through more of an agenda than the people would freely accept. If so, then this administration is deceptive at best, and treasonous at worst, allowing the people they are supposedly “governing” to suffer needlessly.
The paper, which recommends that the US return to a more laissez-faire economic system rather than intervening further in activity, has been endorsed by Nobel laureate James Buchanan, who said: “We have learned some things from comparable experiences of the 1930s’ Great Depression, perhaps enough to reduce the severity of the current contraction. But we have made no progress toward putting limits on political leaders, who act out their natural proclivities without any basic understanding of what makes capitalism work.”
telegraph.co.uk
Bingo! An economist who gets it- not some Krugman poseur economist wannabe, who just happened to get a prize for “showing up”- rather than for real world economic theory. Hussein’s administration, rather than listening to Soros and his ilk, (and yes, he is part of an ilk), should be listening to economists who know what they are talking about- that’s always a good start.
The policy responses to the debt bubble demonstrate crude political consideration rather than economic understanding. If excessive government indebtedness is a major source of the problem, why increase the government debt? Why encourage households to go yet further into debt?
The prognosis is catastrophic if projected government policies are not cut back. According to the White House’s own estimates, the federal budget deficit in 2009 will be $1.6 trillion, approximately 11.2pc of the overall economy, the highest on record since the end of the Second World War. In 2019, the national debt will represent 76.5pc of the US national economy, the highest proportion since just after the Second World War. In such circumstances, the international reserve status of the US dollar will not survive. As it fades, so interest rates on government securities will rise and the real burden of servicing the debt will increase. In such circumstances, the US economy will teeter on the edge of a black hole.
telegraph.co.uk
We are already there, and falling fast- what this administration has done has not helped, but rather pushed, or as one of the Residents really great “advisors”, or Czars, Cass Sunstein, has said, describing his technique of “social engineering”- “nudged” us towards the precipice.
Prosperity and full employment in the US will only be restored by a return to laissez-faire capitalism. Our study outlines a radical, but politically feasible, approach. Monetary policy should be expansionary. But, on the micro-economic side, tariffs and other trade barriers should be repealed unilaterally; a “Right-to-Work” Act should reduce the minimum wage and curtail the powers of unions; and business regulation should be reduced. Individual banks and their counterparties should not be bailed out, although the system should be protected by ensuring that failing banks are wound up in an orderly fashion – this is the only way to restore market discipline.
telegraph.co.uk
This administration should listen to these people- they actually make sense, rather than the “Looking Glass” theorists there are now. Quit naming “Czars”, and start learning how to govern- something that has been remarkably lacking from your agenda until now. Yes- I know that this will really piss off your “base”, but most of them can be placated with just a slight increase in their meds.
Do it, do it now, do it for your country.
And quit listening to those idiots.
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Obama Lied, The Economy Died
Jul 23, 2009 Political
Fresh off Blake’s post about Obama lying and your family dying because of rationed health care, I have decided to post about Barack Obama and his lies that have killed the economy.
After he took the oath of office, Barack Obama set out to tackle the economy or at least that is what he wants you to think. In reality he gave the Democrats in Congress free reign to write the stimulus package. He ignored Republican input and told America that we needed to pass this right now or we would go into a spiral that we might not come out of. The final bill, which was opposed by every Republican in the House, was loaded with pork (more than the 380 TONS of pork the bill actually bought) and it was loaded with the Democrat’s pet projects, the ones they have been dreaming of. One thing not in the bill was anything that stimulated the economy.
Obama told us that within 14 days of the bill there would be shovels hitting the ground. Then when that did not happen he said it was to be expected because there were a lot of things that needed to be planned before the shovels could actually begin hitting the ground.
Obama told us that unemployment would peak at 8% and then back off if we passed the bill but not passing it would cause unemployment to hit 10%. We passed it and unemployment is nearly 10%. Joe Biden recently admitted that they underestimated the crisis. Then he and Obama told us that the stimulus was working exactly as planned and that they never intended for there to be immediate results. No, the stimulus will produce results about 16 months down the road and all we have to do is trust them because we are on track.
Unfortunately, Obama told us that we would see immediate results. He said that this would create or save (you cannot measure a saved job) 3 million jobs. Since that time we have lost 3 million jobs which is a 6 million swing. In other words, we are 6 million away from where Obama said we would be.
Obama lied to us. He fabricated all of these things to force through the bill full of pork (another thing he promised to get rid of) and pet projects that had little, if anything, to do with stimulating the economy. This was a power grab that was passed because Obama lied.
There is no doubt. Barack Obama lied to us to get his stimulus passed. He ignored many experts and he ignored Republicans who gave him alternate ideas (he ignored them after he said he would listen to all ideas – another lie) and he ignored historical evidence that increasing spending in an economic downturn was the wrong thing to do. He ignored the examples of Ronald Reagan and John Kennedy, both of whom lowered taxes to get out of their recessions. He told us one thing but his goal was quite another.
Obama lied and the economy died.
Let us not forget that for 7 years the left accused George Bush of lying about WMD. They accused him of fabricating evidence, manipulating reports and making the case for an invasion that was full of lies. The left told us that George Bush lied to us and that he did it because he wanted to go to war in Iraq.
I submit that Barack Obama lied to us about the economy and he fabricated stories about impending disaster in order to quickly pass a bill full of pay offs to his special interest groups. He allowed tons of pork while lying about what the bill would really do and how quickly it would be done.
Obama is a liar. He lied about the stimulus to get it passed.
Obama lied, the economy died.
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Tags: economy, obama lies, stimulus
Obama Loses Sleep
Jun 17, 2009 Political
Barack Obama says he loses sleep worrying about the massive US debt. Perhaps he should have been worried about it before he spent a fortune on a plan that has provided little in the way of results. Obama is now saying we have to be responsible but that unemployment will reach 10%. That would be 2% higher than he predicted but he insists things are turning around.
Not as far as I can see.
Perhaps Obama is losing sleep because all his poll numbers except his popularity are tanking. Perhaps he is beginning to realize that his actions were wrong and that running headfirst into a wall was not a smart thing to do. Maybe he is beginning to see that what he is doing might cost him seats in 2010 and his job in 2012.
Bill Maher expressed his dissatisfaction with Obama. If Obama is losing libs like this guy the end might be near.
Even his supporters are beginning to think he is a failure.
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Let’s keep the crisis going
May 12, 2009 Political
Well, Former President Bush put 350 billion dollars into the TARP fund, to try and stabilize the market, and left another 350 billion dollars for Barama to use IF he needed it- as if a Democrat wouldn’t know how to spend money. Then Skinny B and his posse come into the White House, and immediately scream fire in a crowded theater, so to speak, by announcing that they needed 787 billion dollars for “stimulus”. Heck, they could have stimulated me for much less. The WH claimed that they were targeting “shovel ready” projects, so they could get the money into the economy faster- sounds great, right?
Well, as with anything to do with liberals, the words sound great, but the deeds are non existent. Most of that money is not going to have an impact until 2011 or later, and that’s a bit too late for the economy. Turns out that “shovel ready” is determined by people like the unions, where most of the money will flow to, and the unions do not have the manpower to do what needs to be done, shovel- wise, not to mention a lack of brains.
Meanwhile, the liberals in the WH want to keep the fear going, because they can cram new, more intrusive laws down our throats, if we the people are busy looking at the banks, at the auto industry, and other related economic tragedies promulgated and encouraged by the liberal left, then laws restricting free speech, gun rights, and contract law can be passed in the dead of night, with little outcry.
Rhomboid Emmanuel says that one should never let a crisis go to waste, but he has no clever saying about how to SOLVE a crisis. Perhaps he is just as ignorant as I think he is, and truly doesn’t know. If that is the case, he needs to find a different job. If he is just milking this crisis for as much as he can get out of it, he is a traitor, plain and simple, for he is doing intentional harm to the American People for crass political gain.
So which IS IT, Rhomboid? Are you so stupid that you couldn’t find your butt with both hands and a map, or are you a TRAITOR? What about your boss, Rhomboid? Is he cut from the same cloth? Don’t you have any shame in keeping this crisis going longer than you should? You haven’t helped a single person in the United States, so the question arises- How do you sleep at night?
Bush, after 9/11, had only one job he had to be good at- that was to keep our people safe, and he was a success in that endeavor. Skinny B only has one job HE has to be good at- solving this crisis, and so far I would grade him with an F, for nothing has been done. Oh there are a lot of smoke and mirrors, but the unemployment is still going up, the GDP is so pitiful that if it was an animal, it would have been put down, the banks have been nationalized (and that’s NEVER a good thing), and we are about to lose the auto industry to a shell group that has the unions in control. The Unions, for God’s sake- they cannot even run themselves, how do they think that they can run a company? That’s just ridiculous.
So now, under Skinny B, we now have the United States of Fubar (F**ked up beyond all recognition), and it’s not looking good for the next two years, at least. The only lining in this thundercloud that I can see, is that the American people will wake up soon to what is really happening, and boy oh boy, are they going to be mad at the way these liberals have raped our economy mercilessly. Everyone, especially the less advantaged, are going to be outraged that their opportunities have been so extremely limited.
The American people will be comparing how Barama’s term looks versus Bush’s terms, and they are going to come to the conclusion that the economy went in the toilet when, and only when, the Democrats took over Congress in 2006- up to that time, the economy was doing well. The Democrats came in and immediately began manipulating the markets to their advantage.
Those are the facts, no matter how you twist them. Now, if the economy doesn’t improve soon, and we have, God forbid, a terrorist attack, I think you will have an impeachment coming down the line. The Democrats will have to eat their own, and I have to admit, I would pay to see that.
Now that would be entertainment.
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Obama Can Stop Blaming Bush; Its All His Now
May 12, 2009 Political
The Democrats are good at pointing fingers and assigning blame so long as the fingers and blame point away from them. The current economic downturn is a direct result of their liberal policies which ultimately led to the housing market collapse. The easy credit and the lack of rules, all championed by Democrats who were captured on film defending the practices, were the major cause of the problems we have. I also believe that some wealthy people like George Soros manipulated the market just before the election in order to assist Obama and that the manipulation helped us reach the breaking point.
To be sure, there were financial institutions that gamed the Democrat’s rules in order to make money but let us keep in mind that Congress makes the laws and if these greedy people used them to make money then as long as no laws were broken the people are just greedy and not lawbreakers. However, Democrats in Congress were just as greedy with their special loan rates, their political contributions from financial institutions and their friends raping Fannie and Freddie for millions of dollars in salaries while riding those entities into the ground.
There is enough blame to go around.
However, the time to blame George Bush has passed. Bush had little to do with the collapse and his biggest mistake was to push for bailout money. The first six years of his presidency were prosperous. Unemployment was low and the stock market was doing well. Things went south after the Democrats took control of Congress. The last two years of Bush’s presidency were years in which Democrats controlled Congress and the collapse happened under them.
Certainly Bush and the Republicans are not blameless. They spent far too much money and began to act like Democrats. People rejected this and sent many of them home but the reality is, the house of cards fell down under Democratic control and as a result of Democratic policies.
Barack Obama has played the blame game for months. During the campaign he blamed the world’s woes on Bush which one would expect during a campaign. However, Obama has continued to state that he inherited the problems. This is not completely true and those he inherited came from Democrats.
It was one thing to blame Bush in the first 100 days but we are past that now and all of it belongs to Obama. A true leader assumes responsibility and works to develop solutions. Obama continues to point fingers and make false claims that every problem was inherited. He has had enough time and now it all belongs to him.
This will not stop people in his administration from making the false claim that something was inherited and it will not stop them from blaming Bush but they will be lying and misleading because they cannot actually lead.
Every President has inherited things from his predecessor and some of them were good while others were bad. Few ran around blaming the other guy for months on end. Amazingly, they never seem to give credit to the other guy for the good stuff.
We are winning in Iraq so Obama claims that he has changed things and now we are on course. He has never looked at something good and said that he inherited it from Bush. He has never given Bush credit for anything good. No, but he sure blames all the bad on Bush.
Mr. Obama, stop whining, stop crying, and stop pointing fingers and using the tired excuse that you inherited a mess. You have been in office long enough that it all belongs to you. It is yours and the reality is that your policies are causing the problems. Stop crying and start leading if you actually know how to do that.
Wesley Pruden has a great article in The Washington Times which discusses these issues and more. He hits the nail on the head and lays the blame where it belongs.
Remember, out of control spending was bad when Democrats were chiding Republicans for it but now that Obama is outspending all the presidents in history combined, it is good. Deficits were bad until the sainted won was elected and now making it 3 or 4 times larger than the record Bush set (under the Democrats) is supposed to help fix things.
No, it will be bad because Obama does not know what he is doing and his policies will cause a collapse (or a civil war). Obama will blame it all on Bush as will the boot licking Democrats who follow him around.
But they will be wrong. It all belongs to Obama and those of you who do not believe so need to tell us at what point your guy accepts responsibility. As far as I am concerned, as long as he keeps blaming the bad things on Bush then that is how long we get to credit the good things to him.
Come on Obama, man up and take charge.
It belongs to you. You wanted it, you got it so stop trying to blame everyone else and start taking responsibility.
Oops, personal responsibility is something Democrats do not believe in.
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Tags: Bush, economy, inherited problems, leadership, lies, Obama