I hate the economy now too! It sucks!
Read the book, “Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism” by George A. Akerlof and Robert J. Shiller and you will recognize what Obama and his buddies are up to.
Economics seems more like a social or political science to me rather than a “hard” science like physics or chemistry. There are no real wrong or right answers… only objectives or goals. A capitalist wants to achieve overall national wealth (at expense of some inequalities) and free markets with minimized government intervention. A socialist wants equality, fairness, and full employment at the expense of individual freedom. Socialists, like Obama, tend to favor Keynesian economics because it helps them achieve Socialist objectives.
Basically, they really believe they are helping the economy by spending a lot and creating inflation. Kenysians believe unemployment goes down when inflation goes up so they flood the market with money. Bailouts are better than just printing money because efforts are more targeted. (The fun part is picking the winners and losers and besides, those greedy business people can’t make smart and ethical decisions anyway). I think we all agree that spending can stimulate the economy but Keysians (and Socialists) think that government can do it better than anyone else (Government is smart, business is greedy, and consumers are really, really stupid). I think most of us understand the taxing to redistribute the wealth thing.
Anyway, they know exactly what they’re doing. They think that FDR and all his programs and spending didn’t go far enough. They don’t care if the economy falls apart because “at least they tried something” and hey, the political class will still have their wealth. Too bad for the peons. “Isn’t it wonderful how the peons don’t have to be jealous of each other anymore? What a wonderful utopeon, I mean utopian world!”)
Or maybe Obama has a compulsive shopping disorder like his wife….
