Obama is as confused regarding the economy as he is regarding his strange religious bent.
The decrease of a trillion dollars toward the purchase of minerals and oil mostly from the middle east and the decrease in interest rates on top of home sales decline total up to several hundred dollars a month in more free cash flow per household. Nobody talks about the gain in buying power from deflation and much cheaper fuel. There are some improvements in the economy but very few know them. The MSM gets no traction in good news.
The bottom line is Obama’s itch to be a sudden savior of the economy by creating a bubble. It makes me glad to see the green industry bubble that the left wanted is crumbling.
It is crumbling at several levels. Ethanol production industry is insolvent. Science shows us it take more fossil fuel BTu’s to create fewer ethanol fuel BTU’s. Crude is down. That prohibits conservation of crude. If people are still cash poor, buying solar panels, wind generators and other non essentials won’t happen.
Obama is striving so hard to have a grade in Econ 101 lower than Carter had.
