Nation Suffering from Obama-Induced Irregularity
Thirty-one months after Barack Obama’s inauguration, the nation has come down with a serious case of irregularity. It reveals itself in so many areas it’s impossible to enumerate them all. The three most visible manifestations of irregularity can be seen in the economy, energy, and in the administration’s exercise of bureaucratic power.
There’s nothing regular about how the economy has performed during the past three years. That’s when what I have been calling the POR (Pelosi-Obama-Reid) economy, more recently tagged the fear-based economy, began. Nancy Pelosi, Barack Obama, and Harry Reid promised to fundamentally change how the economy operated. To a large extent, they’ve gotten their way, and it’s not very likely that an opposition party controlling only one-half of one branch of government will be able to do much about it in the next seventeen months.
What a horrific change it has been. Until now, as Investor’s Business Daily graphically demonstrated in an August 26 editorial, every recovery since World War II has seen the economy bounce back to where it was before the preceding downturn in one, two, or at most three quarters. Under Obamanomics, we’re currently at eight quarters and counting since the most recent recession ended — and we’re still not there, regardless of whether you believe it began in December 2007, as the National Bureau of Economic Research contends, or in July 2008, as the normal definition of the word would dictate.
Here it is, graphically per IBD, and numerically per yours truly:
The numbers are even worse if you look at what has happened to the private sector, which has shrunk by over 1% since the end of 2007. Warren Buffett, who paradoxically insists that he’s not taxed enough while his firm keeps fighting with the IRS over tax claims going back to 2002, has stated that as far as he’s concerned, the economy won’t fully recover until “real per capita GDP gets back up to where it was before.” By the Buffett benchmark, we’re still in hole by over 3%.
If second-quarter growth stays at an annualized 1.0% in its final revision, and if the third quarter is at or above 0.5%, it will have taken nine quarters for the economy to officially recover, three times longer than any other post-World War II recovery. Keep in mind that those are two very big ifs. Many prognosticators believe that second-quarter growth will take another hit in the government’s late-September revision. Others, including 2001 Nobel Prize winner Michael Spence and lefty Robert Reich, have recently adjusted their odds that we’re either already or about to be in a double-dip recession to 50-50. Pimco’s Bill Gross says that the double-dip odds are “better than 50-50.” Clearly, anything beyond the mildest downturn will push the economy further behind what by historical standards is already an ancient original line of scrimmage.
Keynesian deficit spending in overdrive, while clearly a major contributor to the current malaise, doesn’t deserve all of the blame. The Obama administration’s abuse of Keynes’s theories in its stimulus plan’s energy “investments,” as well as its overall irregular energy policy, deserves dishonorable mention.
The American Recovery and Reinvestment Act directed billions towards solar energy companies and solar projects. During the first five months of 2009, before it could have been influenced by stimulus dollars, solar accounted for 0.132% of all U.S. energy production. Through May of this year, that percentage jumped to, uh, well, 0.145%. That may be the high-water mark. Solar companies are either going bankrupt or getting bought at fire-sale prices. A significant percentage of production is moving to China and elsewhere overseas. Thousands of U.S. jobs have been lost.
This was a really fine article. The figures presented provide a clear picture of what is going on and to any thinking person that is a refreshing change from the normal pap we get from the Establishment press. Now if we can get some Democrats to understand what is contained in the article maybe we can get on with growing the nation.
The leftists have turned this country into a train wreck and they expect us to believe that this is the “new normal”? What is this, Carter’s “malaise” on steroids?
Fact is, this isn’t so much a “double-dip recession” as it is a case of our having hit bottom and stayed there – especially when it comes to unemployment.
Just for starters – and this is NOT an exhaustive list – here’s what we need to do immediately:
1) Terminate ALL visa programs that replace American workers, especially skilled tech and professional workers, with foreigners. There is clearly no shortage of skilled Americans in these areas. Bill Gates lied to Congress to get the h-1b visa program so that he could get cheaper “microserfs.” We don’t need to subsidize him any longer.
2) Massive deregulation in all sectors of the economy.
3) Repeal Obamacare.
You would be surprised how many self-described progressives think that Carter was absolutely right on the issues, and should never have been defeated by that “bozo” Reagan.
They’re happy to see Obama continuing in the Carter mold. It’s what they like.
Some people are just plain pigheaded.
Once any concept finds its way into their minds, they become married to it “until death do they part” – even if the concept turns out to be both incorrect and destructive. No matter how much they are mugged by reality, they refuse to let go. They develop antibodies against questioning it.
Sad.
Absolutely. You point out 3 key things -easily achievable
that would result in very large savings and incresases in
employment here. Attaboy!! Got my vote.
There is a de facto drilling moratorium being imposed by the Dept. of the Interior. Drilling in the Gulf and Anwar should be allowed to return to normal. This will bring back tens of thousands of high paying jobs, reduce energy dependence on foreighn countries and reduce liquid carbon fuel costs.
They dont like those kind of High Paying Jobs…they’re yucky..
Like Joe The Plumber…yucky people who work with their hands dont live in their neighborhoods.
Gotta be a “greenie” or White Collar Paper Pushing Liberal Think Tank types,
or Professors, Teachers, activists and “community organizers”….
Who all use their “minds”, not their hands.
Ewwwww.
High paying WORKING mans jobs?
Why would the delicate, beautiful people of the left want more of THOSE icky things?
Gross!
“The danger is that we as a nation may come to accept our administration-induced chronic irregularity as the way things will be indefinitely, or as what Obama cheerleaders in the establishment press try to tell us is “the new normal.” If we do, we won’t recognize our country in several years — which is why the irregularity must be stopped in seventeen months.”
It must be stopped, because if it is not our transformation into a European-style welfare state will be complete. We WILL be France, accustomed to annual high unemployment, sky-high taxes, bloated government bureaucracies, little domestic manufacturing to talk of, a pathetic military, and never-ending labor riots (as in Wisconsin). Yes, that is what we have to look forward to if this guy isn’t thrown out of the White House next year. Never, ever, has an American election been so important. Our future as a strong, vibrant, republic literally hangs in the balance. 2012 can’t come fast enough for me.
Yes, that would be the catalyst that puts this country on the right path. However, we must have that election. Obama is planning and waiting patiently for the right event (crisis) to declare
Martial Law and then he is in the WH indefinitely.
I’ve been predicting that we’ll be under martial law next fall, for months.
Obama and his thugs are sowing the seeds right now. We have seen the black caucus members rail against the Tea Party in a threatening manner, and the union goon with Obama today threatened violence: “Take them out”.
Obama remained silent about the calls for violence, because that new civility thing is only for Republicans. Obama is out there agitating, but will scurry back to the White House when the violence starts, so that he can “tsk, tsk” it and pretend to be the uniter.
We are going to have civil unrest in this country in the coming year, and what you are witnessing now is the beginnings. It is being ratcheted up gradually, in order to make it appear to be a grassroots sort of “boiling over.”
Be prepared for the violence, intimidation, threats right up to and including election day– in precincts that are critical. It is coming.
yep
The Hoffa thing is also a trial balloon. Test the waters to see if the alternative media forces the networks to cover the thuggery. If they don’t, it’s clear sailing for the goons, because if they aren’t forced to reveal direct violent threats when the president follows the speaker and praises him, what will they whow. nada
It’s really critical to get the Hoffa thing all over the place.
However the solution that Bill Gross and others who see the slowing economy is more government spending not less. Both Europe and the US have tried austerity and it failed.
Austerity??? I have diligently sought it everywhere. I can’t find it. Will you in all kindness show me where it is hiding?
Austerity? What are you smoking?
That’s right. Always more, more, more. The definition of idiocy – continually doing the same thing and getting the same result while expecting a different result.
For those of us who missed it, please tell us about the austerity that was tried in the US.
Well well.
It’s been a couple of weeks since we had a visit from a Soros single first name troll.
The other recurring clues are: no information, no links, no backup. Generally, they also have some kind of a misinformation twist they think might fool a few dummies, since they are used to dealing with their brother dummies who are suckers for anything they say.
These guys try to cause as much havoc in as short a time as they can. They are paid by the post. They never argue back, probably don’t even click back to the site.
The two clowns, a physicist and Matthew/Dwight the Stalin lovers, are a different breed…old fashioned nutjobs who fancy themselves to be genteel intellectual persuaders. They relish long involved posts that spew nonsense 360 degrees, and they spend enormous amounts of time tracking down links they think support their inane positions, as if we couldn’t do the same on the other side of an issue, if we felt like talking to them. Don’t waste your time.
Frankly, I prefer the Soros guys. Easier to page down past them.
I was wondering if “a pissy-cyst” was going to post and attempt to make a direct correlation to the depression and AGW. I have tried to read his condescending posts with an eye toward neutrality but found his tone, his choice of words and that oh-so-annoying “chummy” choice of “y’all” and “ain’t” and other terms just irksome.
Then there’s the blogs and uber-left “statistics” and “articles” he cites. He is simply schilling for the left while apparently acting as the smartest man in the room. Yet, he fails to acknowledge that a theory is a theory, not a fact. And he also fails to acknowledge that if the US goes whole hog and stops production of CO2 entirely, what of China, Russia, other industrialized nations that couldn’t give two spits over AGW.
Then, the fact that everything in nature thus far, as near as science can determine, is cyclical (That means it has highs and lows, for those of you in Rio Linda). Of recent note is the dinosaur fossils found in Alaska from the Cretaceous Period. The lack of volcanic evidence, the Earth was warmer back then somehow. SUV’s? Coal-fired powertplants? What? Even “a pissy-cyst” doesn’t know. Or does he?
It’s a theory. AGW is a theory. Proof is yet to be shown. And said proof takes a long time, over many centuries of studying empirical evidence. In the 70′s we were all doomed to an impending ice age.
Perhaps it’s the drive to gain funds and recognition in one’s peer group that is a real driver here in many ways. Pride, ego and desire for acclaim in the oddly socially competitive world of academia can cause otherwise bright and forthright people to behave in ways they normally wouldn’t. And, such behavior is insidious. It is also hard for the person doing it to realize they are. Objective thinking suffers first in many cases. This is because of a fear of persecution by others, “going with the flow” and adhering to the thought process of who the tenured “thinkers” are.
At the end of the day, acceptance and belonging is more important to 99% of human beings than actually going against the grain and being right versus supporting a lie. In this case merely a theory that remains unproven.
Rush Limbaugh currently (and personally) does an advertisement where he skips every other word to illustrate what it is like to be hearing impaired.
Today would what it like impaired you publication Pajamas. Although love read annoying difficult; impossible peppering of external train.
I I just links, but big, bold simply the lesser, normal article.
Here is the rest of the story:
Today I would like to illustrate what it is like to be hearing impaired when you write articles for publication on Pajamas Media. Although I would love to read Mr. Blumer’s articles without annoying distractions, it is extremely difficult; even impossible to do because of the super peppering of external links that constantly interrupt my thought train.
I know that I could / should just ignore the links, but the big, bright blue bold font simply overpowers the lesser, normal font in the article.
Change your monitor settings to monochrome before reading the article…
In addition to the annoying distractions, the point I’m trying to make is that there isn’t any need to illustrate the article with so many external links — unless you’re assuming that your readers are not up to speed enough to understand what you are saying. That being the case it behooves the writer to adjust the level of his / her dialog to the point where people will understand without requiring additional or further reading.
External links are also an invitation to your readers to leave; which increases the risk of them not returning, hence you’ve lost a customer.
In example a paragraph from this article potentially looks like this:
The numbers are even worse if you look at what has happened to the private sector, which [ FIRST YOU NEED TO READ THIS! ] since the end of 2007. Warren Buffett, who paradoxically insists that he’s not taxed enough while his firm [ FIRST YOU NEED TO READ THIS! ] over tax claims going back to 2002, has stated that as far as he’s concerned, the economy [ FIRST YOU NEED TO READ THIS! ] until “real per capita GDP gets back up to where it was before.” By the Buffett benchmark, we’re still in hole [ FIRST YOU NEED TO READ THIS! ].
Sometimes one of the most beneficial aspects of training and development is listening.
Enuf said.
I must disagree with you, Link. I also deplore the killing of the classical footnote.
Footnotes go at the bottom of the page and/or end of an article. They are normally referenced above the article or called out in the article with an asterisk *.
Footnotes would make Mr. Blumer’s articles much easier to read and enjoy.
Try thinking about those fast talking commercials on the radio or TV. The guy (or gal) starts out speaking in a normal tone of voice then begins to speed the words up at the same time getting louder and louder until pretty soon HE IS YELLING AND SCREAMING AND TALKINGSOFAST THAT ALLYOUWANTTODOIS SMASH THE ON/OFFBUTTONWITHAGREATBIGHAMMER BOOOOMM!!!
That is what big, blue, bold links do to any article.
Next up, “Italics…” or “Italics…”
Will he or won’t he..?
I happen to find the links very informative since half the time I’m reading this site I’m doing research on the topics. I ctrl click as I go so I can pile through the articles once I’m done reading. Links don’t -always- hijack the article.
If the bold text is truly that distracting – increase the font size or zoom [ctrl + mouse scroll wheel] so the difference between the bold text and the normal text isn’t as exaggerated.
I agree!
Well Link,
I sympathize, the bold blue is a bit distracting.
However, I do feel the links are valuable. I rarely look at them. Sometimes I am interested and find valuable information in the linked articles.
Maybe a different color scheme would be less distracting. I the links were just a different color and not bold, I think that would be better.
Double-dip? When did the first dip end?
It will end when the dip in the president’s chair is de-elected.
Until the current class of thieves is purged from the Congress and White House, there will be nothing but purple prose ad infinitum.
Isn’t it obvious they intend to enrich themselves, and couldn’t care less about the proletariat?
They profess and legislate, sacrifice, yet live lavishly; Preach and legislate, “green energy” then burn fossil fuels and pollute for their own endeavors and entertainment, at an exorbitant rate.
How much hypocrisy is too much?
And it’s not all Obama’s agenda; He’s just a convenient tool for the completion of the mission.
Austerity should be combined with reducing regulatory burden and re-structuring taxation, so producing and employing are not taxed while consuming and taking money from the business are taxed higher. You need to create an environment where private investors are falling over each other to invest into new oil wells, new power stations, new refineries, more productive (or organic – valid product category with significant demand) farms, everything that can employ people.
Each reduction of Government spending should be balanced by reduction in red tape as a matter of practice.
Tom, I appreciate the links as I do check some of the items listed. That said, even the $10 billion in “reduced regulatory costs” are only stated as “could be saved” in the cited article. Sigh. The usual from this administration is just more “hope” instead of real intent to bring about any remote financial/economic good. The numbers almost don’t matter any more ~ one can visibly see what is going on all around us. Double dip recession? Depression? How about just “ghastly mess”, and the critical need for a change in Jan ’13?
Recessions are caused by misallocatioon of resources into non productive areas. This time it was mortages to people who could not pay and mortgage backed securities which became questionable.
Recovery is a matter of readjusting priorities. Republicans tried to make that point when they called Obama’s stimulus a spending, not a stimulus. The very concept of gross aggregate demand of Keynsians is farsical. The smartest thing Obama said was we needed to use a scalpel, not a machete to cut spending. Bachman is also right to speak of setting priorities.
Now Eric Cantor is being demonized. I have participated in his Uvote, and believe me he has amassed a big list of potential cuts that nobody would defend.
How about the 1 Trillion in new annual spending that Obama has ladled on?
Would you find cutting that “difficult to defend”. And don’t say it’s an increase in SS and Medicare because that is only a small percentage of it. We’ve been assured by Pelosi and Reid, of course, that those programs are completely solvent anyway.
And of course, that is on top of another 1/2 trillion in new spending that Dubya ladled on. Is cutting some of that “difficult to defend”?
And of course, that is on top of new spending for the EPA, the Dept of Energy, and the Dept of Eduction, Medicaid, and other country-strangling stuff that has been ladled on since 1976. Could you find it within youself to defend cuts to any of those “improvements” that the country somehow succeeded brilliantly without for centuries.
Aren’t these PhD’s brilliant?
And who puts PhD in a tagname anyway? Unbelievable.
Why did those mortgage loans get written and approved for people who could not pay? Does that sound like something that business people would just decide to start doing on their own?
Or, perhaps government was interfering again, attempting to impose racial and socioeconomic justice on the housing market with the CRA, Fannie & Freddie underwriting all sorts of bad paper, and looking the other way as thousands of “liars’ loans” were approved every day. Nobody cared about the quality of the loans because Fannie & Freddie were buying up the paper.
Government interference is a major cause of misallocations in the marketplace. When the government is the backstop, all manner of misallocations occur, as we are seeing now in the “green jobs” fiasco that Obama has been pushing. Billions of dollars wasted by government, and bet that Obama brings up the need to waste billions more in his speech Thursday.
Noting that irregularity is a euphemism for not being able to give a s**t. This is an excellent metaphor for our country’s situation.
I keep remembering those news clips during the Clinton/Lewinsky-Toy hearings where Clinton most memorably declared something like, “That depends upon what the definition of ‘is’ is.”
Such slippery sentences are a hallmark of this current Administration and its supportive media. If Clinton hadn’t been caught on tape actually uttering that memorable phrase, the leftist media would’ve carefully glossed it, or sent it down our ever-widening Orwellian Memory Hole, hopefully before anyone noticed it.
This is what we’re faced with today, only on a terribly more dangerous economic-scale, and physically more dangerous national-security-scale. Right now we seem, publicly at least, to be behind dually ominous curves which have developed a resistant momemtum.
As I type this here in ‘Deepest Central Maryland’ as I like to call it, with Camp David vaguely a very few short miles/minutes to the North of me and the District fifty miles to the South, an hour’s drive away, I’ve been hearing the sounds of what must be jet fighters at periodic intervals during daylight overhead which to this former USAF intercept controller sound like what we used to call a CAP, or Combat Air Patrol. This started about last Friday, and is what I remember hearing shortly after 11 Sep 2001. Normally we hear no jet engine noise around here at all.
Why do I mention this?…..because we seem now to be avoiding on a national scale any mentioning of the fact that we are indeed at war against Islamism, lest we “offend” our enemy. Can any of you readers out there remembering World War II imagine…imagine!…”offending” the Japanese Imperialists or the German Nazis? Or, “offending” the North Korean Communists? Or, “offending” the North Vietnamese, or Chinese Communists?
Our contemporary Second Front, if you will, is the Home Front, our economic situation. Since this Administration is clueless on both Fronts, they simply must be removed in 2012.
This Administration is the most serious “Obama-Induced-Irregularity” this nation has seen in decades…..during this dangerous convergence of economic and physical warfare.
But nationally, the Democrtats are more numerous, so we conservative Republicans have got our work cut out for us.
To get rid of all the scat in D.C. it is time for the voters to do a “healthy dump” to rid itself of the P.O.R. induced irregularity.
I see few who claim to be on the right side of the bell curve who are actually on the right side. IMO the only significant difference been ‘right’ and ‘left’ these days is the volume and the velocity of the hand basket to hell. The entire western world is so deep in debt and committed to so many trillions of unfunded, future liabilities that nothing short of extreme austerity can avoid the chaos and unknowable consequences of a abysmal depression. The global banking system is over leveraged beyond recovery. Entire nations have become too big to save. I have little confidence that either the politicians or a majority of the people are willing to take the 40% cut necessary to begin a real recovery. Simple elementary school mathematics will rule eventually and the cut will occur whether or not anyone approves.
All sensible people realize that the above opinion piece is highly reactionary. It clearly contradicts all responsible government reports to date.
The Ministry of Plenty reported only yesterday that economic production in all sectors has increased 300% over last year, and it is expected to increase another 450% in the next year. In fact, what is amazing is that this has occurred even though the Ministry of Peace reports an increase of international terrorism of 500%. (No need to worry here. Big Bro has the affairs of this sector throughly under his control, being a Nobel Peace Prize winner, and all.)
Standby for our regularly scheduled Two Minutes of Hate. Today, Emmanuel Goldstein has been replaced by Richard Cheney.
HATE CHENEY! HATE CHENEY! HATE CHENEY!
Any reference to 1984 should also include a reference to Aldous Huxley’s – Brave New World in which we are told 62,400 repetitions make one truth. At the rate the President opens his mouth to complain about someone or something which is causing his own failures, he will be able to create many truths which will be duly reported by the MSM.
I need some Soma.
The WSJ has an article about a man and a business that has created many many private sector job, a big box like Home Depot. The socialist Dems hate these Wal-Mart type places. The entitlement-welfare mentality groups in so many communities demand hand out, blame big business and the Dems us class and race warfare to dis real jobs, real work ethics ala the old Judeo-Christian worldview. Libs hate that but will slop up the rewards of ….work and capitalism.
Why do pundits insist on using GDP to describe the health of the economy?
GDP includes government spending; much of which is useless or destructive. Little Lenin has increased government spending by 1 trillion annually. It’s ALL borrowed money. Who do you think he borrowed it from. No the answer isn’t China, it’s us, because we will have to pay it back, or rather us and multiple generatiions of our descendents.
The 3% GDP DECLINE in the article that is based on population growth and the official GDP figure only scratches the surface of the destruction. Take out that annual new 1 trillion in borrowed government spending (7% of the total GDP), and the private sector GDP is down 10%, not just down 3% adjusted for population growth and certainly not up 2% like the magical gubamint finger-waving figure would lead you to believe. Consumer conficence is way down because people innately sense this, just like they can easily tell that the gubamint unemployment fantasy statistics are a deceiptful lie. We can see the closed businesses, the foreclosed homes, and our friends that have lost their jobs or otherwise struggling.
That’s the true picture of the state of the economy. It isn’t a recession, it’s a depression.
But actually, it’s worse than a Depression, because to climb out of the (10%) hole, not only does the private economy need to fire up 11% (1.11 * .9), the country somehow needs to purge that massive Obama increase in government spending out of the system and that is going to mean a lot of layoffs in the bureaucracy and a lot of brutal arguments with fantasyland liberals who don’t even know they are actually hard-core marxists.
Call it Depression Squared.
statism (ˈsteɪtɪzəm)
The theory or practice of concentrating economic and political power in the state, resulting in a weak position for the individual or community with respect to the government.
VIVA LA TEA PARTY!
I am dreading the “important jobs speech” that the President is delivering this week. We all know he is going to propose something like a “jobs stimulus package” demanding that we put a trillion dollars more of borrowed money in to some new federal boondoggle. His flacks have been touting this approach on the TV talk shows (the inevitable Friedman, Krugman etc.) and at other venues (members of the Black Congressional Caucus.)
I swear that if I hear the phrase “I am appointing (blank) to be our new federal Jobs Czar….” I will send my glass of scotch rhrough the TV.
If you watched Meet the Press…All guests (left & right) were discussing what the President could/would say in his jobs jargon. Maxine Waters says “What we need is a trillion dollar stimulis on jobs”!!! What? I’m sure it is on a UTube somewhere. The other guest kept talking like she didn’t even say it.
Someone could have at the very least, rolled their eyes.
Again, I ask, in preparing for the 2012 elections are their any scholars on this site who have compiled a list of the “Obama Obstructions”. Including lies,
unnecessary regulations, paybacks for Tarp funds (Solyndra), promises not made,
hindering actual growth, Czars, the third war, and his dislike for America.
Definition of STATISM: concentration of economic controls and planning in the hands of a highly centralized government often extending to government ownership of industry.
VIVA LA TEA PARTY!
Once you understand what the Obama admin and the dems are doing, it all makes perfect sense. They operate in the same way that the mob gets contracts for cement projects or “The Big Dig” in Boston. That is, they use muscle to get a big pot of money and skim off the top.
That’s why they never let a crisis go to waste. A crisis produces a big pot of money that can be skimmed from. The stimulus, the cash for clunkers, disasters, bailing out the post office to bailing out anything. Those are large sums of money that they can use to keep themselves going – too large to notice if a few million goes missing here or there. You don’t think there are actually enough US citizens willing to fund their winning elections do you? HA.
They have to keep all those presses and TV stations rolling with their bought and paid for “reporters”. Destroying and intimidating people takes lots of cash. So does buying elections and influence.
There is only a small percentage of people who actually beleive and are willing to fund them: self-righteous but insecure egg-heads who beleive themselves superior to the red-neck folk; businessmen whom are willing to get favorable legislation in exchange for a couple hundred thou in campaign donations; and the perpetual welfare state who don’t fund them, but make pots of money available to skim from. Oh, and the union thugs whose are promoted based on their loyalty to the cause.
They have run out of other people’s money and now they are threatening, in mob style, to shut down the very services which are the ones they are supposed to run, like the post-office, libraries, social security, police and fire. They still have billions for green jobs and other big pots of money like health care. I just heard them say the other day that they can print stimulus money until the cows come home and it won’t have nary an impact. It’s all about getting money off the top for themselves. Once you get that…their actions becomes crystal clear.
One had better explain to me how the entitlement plans, have exploded costs so much in the last couple years. Are that many more people on the plans?
And if they didn’t explode the deficit, then the other result must be government spending. So what we need are more investigative reporters, people such as writing this, and less “lame stream” media who act as lap dogs to a person that is dead set on spreading the wealth, as long as he gets his, and has never really met a payroll, hired workers, and operated in an economy that he looks to strangle.
And lets not forget that he picks an Immedlt to help him, a person that has a company not paying taxes on more than 5 billion in profits, and closes US plants down and ships them overseas.
And then we have such an ignorant boob, in the white house, that tells us his stimulus will keep unemployment under 8%, and that shovel ready jobs that he touted don’t exist.
“Under Obamanomics, we’re currently at eight quarters and counting since the most recent recession ended…”
I wouldn’t say that the recession has ended. One can stick to the “official” definition, but if there is high unemployment, inflation, and you’re having trouble making sales or attracting new clients, then it is a recession no matter what an economist from the government says.
Two Perspectives on Riots, Jobs, and Poverty
In case no one has noticed, there has been an increasing number of violent outbursts and riots in the streets. New York City’s Mayor Michael Bloomberg and America’s President Barack Hussein Obama have, respectively, keen insights and perspicacious cures for all that civil disruption.
The upheavals in the Mideast are somewhat explicable given the so-called Arab Spring although the violence in the United States and Great Britain can’t be explained away as easily. Fortunately, New York’s Mayor for Life Michael Bloomberg has his finger on the pulse of humanity and is fully capable of pinpointing the cause: poverty and a dearth of jobs.
Hizzonor contended on his Friday radio show, (which he skipped last week due to a scandal in his administration), ”You have a lot of kids graduating college, [who] can’t find jobs. That’s what happened in Cairo. That’s what happened in Madrid. You don’t want those kinds of riots here.”
So, if I understand the mayor correctly, Egyptians weren’t protesting against former despot Hosni Mubarak and the mobs in Spain–and London–were just staging boisterous campaigns for employment and not anarchically revolting?
I’m sorry to advise Mr. Bloomberg that he is wrong as proven by facts and slews of videotapes.
Egyptians wanted to depose Mubarak, and succeeded. The mostly Muslim English rioters would love to have toppled the regimes in that country, but their destructive efforts failed. The Spanish–and the Greeks? Who knows? They always seem annoyed at something or other.
None of this means to suggest poverty and unemployment aren’t serious issues everywhere. As of 2010, America’s national poverty rate stood at 15.1% or 46.2 million people and jobless Americans still number 9.1% of the working population, all of which are horrific figures.
Bloomberg may have analyzed the world situation with his pulsating finger but we have a man in charge of the U.S. economy who has been fingering America’s fiscal health as effectively as Mayor Bloomberg gauged world events.
Some cynics would say President Obama been flipping his finger at the nation since he hasn’t done a damned thing about poverty or unemployment over the course of his 32 months in office.
Correction: He has done a damned thing, he’s made both worse. . .
(Read more at http://www.genelalor.com/blog1/?p=5469.)