Topic: Economics
Obama-nomics Has Some Folks Fooled. My guess is they have been fooled before.by Jahfre Fire Eater
(libertarian)
Sunday, January 11, 2009
It seems that since Christmas nearly everyone I know has suffered personal effects of the economy even before any of the bad stuff really hits. I can't believe that more people aren't getting angry and demanding Obama stop pouring fuel on this pyre. Instead, as a lady at a local citizens initiative group said yesterday, as soon as Obama is elected there will be all kinds of funds and programs we can apply for to address issues in our community. Holy cow, what planet is this person living on?
Obama's three pronged plan is pretty simply a disaster we should all dread, not puppies and ponies for everyone.
1. Stimulus plan - Give everyone enough cash to prop up Wal-Mart for one more month...or less. That isn't going to suddenly cause new factories to open here in the homeland. It is just politics, not economics of any constructive sort. Find every way possible to keep homeowners responsible for the losses their home value will take. Shield the banks from this at all costs.
2. Create new jobs - Even if the Obama-nomics job creation plan works perfectly its numbers rely on the creation of enormous numbers of new government workers and not nearly enough new private sector jobs in wealth producing industries to carry the load of Obama's new army of unemployment councilors.
3. Spend as much money as we can get our grubby hands on with no limits or conscience. Escalate our own wars, support escalation of wars where we supply the weapons, offer continuous new bailouts, nationalize the economy and pay people to do jobs that don't need to be done at all; there is no toilet not worthy of being clogged with dollars according to the prevailing economic plans.
There is not a sound step towards recovery anywhere near the Obama-nomics plan. Every man for himself, women and children first, lower the lifeboats, the captain intends to dive and this isn't, or wasn't, supposed to be a submarine. Oh wait, there are no lifeboats. We're all in this boat together. Why can't I get the song Nantucket Sleigh Ride out of my head?
Industries that produce things, manufacturing, construction, agriculture, etc., produce purchasing power and distribute it to their employees. Governments take a hefty portion of that purchasing power which is distributed to workers and distribute it to government employees. Additionally, inflation eats up purchasing power while the dollars are still in your pocket or in your bank account...at an ever-increasing rate. That rate is going to explode eventually.
The Fed and the bailouts and the Obama-nomics stimulus package are all adding fuel to the fire. Letting the market do its work to clean out the failures would have allowed new development to grow back quickly but these "experts" seem intent on scorching the earth then salting the scorched earth.
The only plan our experts have have is to destroy all the wealth and all of the productivity they can get their hands on. Obama hasn't said a single thing that will lead to increased production; which is the only way out of a recession.
-Jahfre Fire Eater
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