Posted by: rotenochsen | February 23, 2009


Feb. 23rd, 2009 | 10:22 am

Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.…nbsp; —Ronald Reagan

First it was the Global Warming warning from “alGoreites” that caused normally rational people to believe that man is destroying the planet because we use fossil fuels. As a result we are in the desperate position that relies on Countries for our economic life blood(crude oil) that basically do not like us. Even though we have enough oil off shore in the Dakotas and the ANWAR region of Alaska to provide the fuel that drives not only our economy but our military,and our defense.
While we beg Communist China to buy more of our treasury bonds.Secretary Clinton just left Beijing after trying to talk a reluctant communist country to help support Obama’s $787 billion stimulus Bill!
One of the worst air polluters in the whole World is busy making deals in Africa to drill for more oil to run the economic giant that already holds 696.2 billion dollars of our T- Bonds!

Which brings me to the second fear tactic that has been perpetrated on the American public. President Obama is flying all over the Country crying Crisis and predicting a worst depression than the USA had in the 1930s if we do not spend more billions on his “rescue” package. This is a bold face lie and the facts prove that what he is doing is paying back those who got him elected, and laying the ground work for more government employees that will be dependent on the welfare state for their livelihood. Thus guaranteeing his voting base and the Congressional Democrats for years to come. The stimulus is costing approximately $3000 per American,and yet Obama and the Democrats are crying crisis about an economy that so far has only dropped by $120 per person. Perhaps the economy has more to fall, but it doesn’t make sense to spend billions of dollars in order to rescue a few auto industries and some banks that due to total mismanagement are failing.

Only a few people pointed out last year that chaos for the finance industry does not necessarily mean tragedy for the economy as a whole, so that bailouts and stimulus packages are worth far less than their price tag. Now we know: the economy as a whole continued to maintain high levels of production production and spending. Although the economy should be closely watched in 2009, taxpayers would be better served if their representatives would discern hype from real disaster, and thereby better protect taxpayer wallets from the alarmists.

In plain English: adjusted for inflation, total spending in the United States economy was about one percent lower in October-December than it was July-September. (The fourth quarter performance would have to repeat itself three more times – for a full year – in order for real GDP to actually fall the 3.8 percent in the headline.)

None of us likes to see our purchasing power fall, but it helps to put the one percent drop in perspective. That drop was pretty similar to what happened during the 1990 recession. Real spending has so far done much better than the 1981-82 recession, when it fell three times as much. The Great Depression of the 1930s was far worse.

Another way to understand the headline: spending fell $120 per person.The Bureau of Economic Analysis showed recently that so far this recession is mild by historical standards. Nevertheless, President Obama’s fear-mongering continues.How else would he be able to spend so much money that we do not have to further his welfare state!
This despite the fact that a survey of 47 professional forecasters released by the National Association of Business Economists on Monday predicted the recession-hit economy would begin to recover in the second half of this year, returning to a potential growth trend in 2010.

Perhaps the real problem Obama and his “One World” supporters are worried about is the financial crisis in Europe more than what is happening here at home. During the past weekend two cheer leaders for Obama’s “spendulus ” Bill, Billionaire and Socialist George Soros(the bank roller for Obama’s election campaign) said the economic World turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.
He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system.
“We witnessed the collapse of the financial system,” Soros said at a Columbia University dinner. “It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.”
He was joined by another Obama advisor Paul Volker,former Federal Reserve chairman who is now a top adviser to President Barack Obama.
Volcker said industrial production around the world was declining even more rapidly than in the United States, which is itself under severe strain.
“I don’t remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world,” Volcker said.

Volker is old enough(81 years old) and supposedly smart enough to know the history of recessions since the Great Depression, but if you are a wealthy elitist who thinks he knows what is best for us “ordinary” folks. Then he might think bankrupting this Country by spending money we do not have, and will have to borrow from Japan and Communist China is a good way for our Republic to go! 


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