Posted in Uncategorized, tagged 2011, bitchboy, corporate, George Stiglitz, obama, Paul Krugman, President Obama, presidential election of 2012, Recession, The Great Depression on Jpm8000000pmSat, 20 Aug 2011 14:41:50 +000011 10, 2010 |
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The numbers are lining up; a recession appears to be on its way. The numbers have not completely lined up, but they appear to marching forward toward recession. This means President Obama’s policies are a terrible failure, his leadership totally lacking. The Republicans have played him for a fool. He should have taken the economic advice of Paul Krugman and George Stiglitz, but instead he took the advice of Wall Street drones like Lawrence Summers. Let’s face it. President Obama is a corporate bend-over bitchboy.
Experts have assumed that we may be heading for a repeat of 1937, when the economy dropped into recession in the midst of the Great Depression because FDR decided to reduce federal spending. However, there’s something more to fear than a repeat of 1937. What if the recession that began in December 2007 is more like the recession of 1927? That was a mild recession. If there is a potential comparison between the likely recession of 2011 or 2012 and the one that hit in 1927, then it is likely the next recession will be far worse than the recession of 2007-2009. That means both G.W. Bush and Obama will share the historical stage as being as bad on economic matters as Herbert Hoover.
There’s one thing that can be said about the coming presidential election. Obama is not the person this country needs, but all of the Republican candidates for president are even worse choices. The United States needs a new FDR, or a Harry Truman. We need a hero, a real leader, someone perhaps like Warren Buffett.
I’ll go more in depth on what’s going on in the economy in a day, maybe two.
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Posted in "Dow Jones", "John Hively", Economics, Economics, recession, Politics, Recessions, the Rigged Game, Uncategorized, tagged 2011, Barack, economy, Impeach, jobs, June, obama, report on Jam7000000amSat, 09 Jul 2011 11:56:29 +000011 10, 2010 |
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The economy added only 18,000 new jobs in June 2011 and that shouldn’t come as a surprise.
Nobel prize economists such as Paul Krugman and Joseph Stigletz warned that Obama’s stimulus packages were insufficient to spur serious growth in a severely wounded economy. Former labor secretary Robert Reich warned that the distribution of income had become too lopsided in favor of the rich for the economy to grow jobs.
Fool that he is, or so he appears to be, Obama ignored the people who are always right and listened to Wall Street drones like Lawrence Summers. Now with his reelection prospects dimming, Obama wants to foolishly curtail federal spending.
So is Obama stupid? Or foolish? Maybe. However, there might be a more sinister reason his legislative decisions have always favored redistributing income from working people to the rich.
The rich have been waging economic war against the middle class and the poor. They’ve been using their financial clout in government to redistribute income their way. The answer to Obama’s foolishness becomes obvious when seen through this light.
Obama decided long ago to enter this class war on the side of the rich. He’s a real class warrior—for rich folks.
The United States needs a new FDR. Obama is not that person, and he never will be. He is the wrong man for the wrong job at the wrong time.
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