Economy

60 Minutes did a devastating piece on the economy and the lack of jobs. We’re in a situation that mirrors the great depression. They don’t mention that Obama’s policies have made things worse, not better, which is what happens when Keynesian economics are used. The public will put two and two together next week. The polls seem to show they already have.

We really have to make some serious changes and not the kind Obama wants to do. Let’s hope the people elected will make it so.

When politicians think the people are the world’s greatest ATM machine, we get the economic mess we’re seeing now. Both parties are responsible, but Democrats are pushing to make it worse.

Better late than never, even though the people of Cuba had to suffer with this vain dictator’s stupid decisions for the last 50 years. Fidel Castro has admitted his statist system doesn’t work.

Fidel Castro told a visiting American journalist that Cuba’s communist economic model doesn’t work, a rare comment on domestic affairs from a man who has conspicuously steered clear of local issues since stepping down four years ago. The fact that things are not working efficiently on this cash-strapped Caribbean island is hardly news. Fidel’s brother Raul, the country’s president, has said the same thing repeatedly.

Statism never does. Big government is a path to failure and despotism every single time. I’ve detailed it here. Limited government, where leaders are checked by the rule of law and the public’s consent is the only way to limit corruption. by hamstringing politicians and keeping them under legal restraint. When you have absolute power in th3e hands of a ruling elite, which comes with all big government societies, you have despotism and tyranny. Castro was one of the monsters of the 20th century. So was his lieutenant, Che Guevara, who many left leaning ignorant people still revere.

Sooner or later, communist/socialist/fascist states fail and they have to move toward free markets. It’s no surprise that China and Russia, the two biggest critics of capitalism in the 20th century, have joined the Capitalist club and are enjoying explosive economic growth. Low taxes. less regulation can do that for you. Somebody tell Obama.

Why stimulus and more taxes only hurts economies, not helps them. A simple reality that many people fail to grasp.

If you’re wondering why Obama tripled the debt and the deficit in his first year and keeps increasing the debt ceiling, this interview may have the answers you’re looking for. I’m still digesting it but it’s very interesting.

Thoughts, anyone?

This is the Dr. Michael Hudson’s website. I will be checking out his essays this week.

Our bow happy president (seen here bowing to the Mayor of Tampa on the 28th) is leading us to certain economic ruin. His speeches to the contrary belie a simple fact, he is spending us into oblivion and his polices will make things even worse. Just as FDR made the Great Depression last six years longer, Obama is repeating many of the same mistakes. He is also following a track to failure that Japan took in the 90s.

This article from the business insider does a great job explaining how Obama’s policies are setting a road to ruin for us. Which is why it’s imperative that he lose more power this year through the election of more opposition candidates to the congress and senate. The harder it is for him to get bills passed, the less damage he can do. But rest assured, he will do whatever he can to circumvent congress. he already has with his czars.

And for those who still think he’s a moderate, it’s time to wake up.

UPDATE: Seriously, he is the biggest liar ever to be elected to that job.

UPDATE: And it it can be revealed why Obama bowed to the Tampa mayor. She declared November 15th CAIR day. CAIR is a front group for Islamic-Extremeists masquerading as a civil rights group for Muslims. PC will get you every time. But then, Barry is fond of Islamists.

[via Breitbart tv]

The government invariably lies about unemployment rates. Especially this one.

The administration is slowly destroying the US economy, intentionally. It’s a wealth transfer, and part of the process is the devaluation of the dollar.

Ben Bernanke’s dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency.

Over the last three months, banks put 63 percent of their new cash into euros and yen — not the greenbacks — a nearly complete reversal of the dollar’s onetime dominance for reserves, according to Barclays Capital. The dollar’s share of new cash in the central banks was down to 37 percent — compared with two-thirds a decade ago.

Currently, dollars account for about 62 percent of the currency reserve at central banks — the lowest on record, said the International Monetary Fund.

Bernanke could go down in economic history as the man who killed the greenback on the operating table.

They are simultaneously devaluing the dollar in order to pay back the debt faster, and putting the economy on track for hyper-inflation which will bury us. Rioting in the streets will be the least of their concerns of they do this.

People better put these clowns on notice before it gets to that.

Well, we’re a good way into that first year of Obama’s administration. How’s that working out for you?

The stimulus in action

If you check out these stats you’ll see that after the bailouts, stimulus and reckless Obama moves, the unemployment shot up like a rocket. The anti-capitalist decisions by the administration had a very bad effect on the economy. Not the kind of change I wanted, but then, I didn’t vote for him.

UPDATE: Obama’s projections vs reality. He is totally clueless.

You could say this is a Barry Bad Economy.

Toren once explained this in detail on a comment here. Obama did everything wrong when he took office. Bush, started the mess by signing the TARP bill. But the Stimulus and the continued policies of Obama are all the wrong moves. This coming decade may be a lots decade for us. Let’s hope we can get many of Obama’s polices reversed before they cause too much harm.