The American Economy: Feeling Better?


How’s this recovery working out for you? Good? Glad to hear it. Tell the rest of the country. In all seriousness, the economic indicators reported last week are abysmal. If this isn’t a double dip recession, it sure feels like it. Housing prices still continue to fall. The private sector only produced 53,000 jobs last month. It needs to produce about 200,000/month just to keep the unemployment rate steady (break even). The unemployment rate is up to 9.1%, but in reality is closer to 19% taking into account discouraged workers. Productivity is anemic. The chronically unemployed are at a higher percentage rate than during the Great Depression. Housing prices as a percentage of value have fallen more than in the Great Depression. America’s credit rating has been downgraded to negative. And last, but not least, the stock market is sliding. What’s really scary is the Alan Greenspan, former head of the Federal Reserve, said on CNBC last week that HE is afraid. If this guy is losing sleep over the current state of affairs, what should we be doing?

Mitt Romney said it best when asked about the current state of the economy. How can President Obama address what is clearly a crisis when he doesn’t know there’s a crisis? That sums it up. While Rome is burning, Obama is fiddling…taking a victory lap to Toledo touting the rebirth of the American car industry. Really? How much government money did it take to do that? Obama seems to think that the way to solve the problem is print money, and lots of it. That is his solution, and his only solution. I can’t believe he is that stupid. On the other hand, if he is smarter than I give him credit for, that is a bigger problem. That means he is destroying the economy deliberately, and for that he should be impeached.

Meanwhile, the press keeps rallying around him. It was almost “amusing” to watch them try spin the horrible news away. But even that has started to sound hollow. They didn’t look convinced, and some of them are beginning to back off.  Some things just can't be spun.  Suffice to say ALL of Obama's economic team has left the service of the people to head back to Academia to feed all this Keynesian drival to impressionable students who don't know any better.

There are many solutions to the problem, none of which are within Obama’s ideological framework or his life experience. He knows NOTHING about business. He knows income redistribution. He has turned his back on Europe. He has ignored Japan. He has been taken to the cleaners by China…and has thumbed his nose at our traditional allies. What he has done to Israel is unforgivable.

Three things will solve our economic problems: 1) Rein in the EPA; 2) Get currency issues under control, both American and Chinese; 3) ENERGY, ENERGY, ENERGY, ENERGY!! Drill now. AND I MEAN MORE THAN LIP SERVICE. He announced more drilling. But as in all things Obama, look at what he does, not what he says. He has actually tightened oil exploration up. There are no permits and/or licenses to drill being issued. You have to understand. Obama thinks that $4.00/gas is a good thing, not a bad thing.

If the United States re-elects this guy, then we get everything we deserve. His Keynesian Socialist view of the world has failed everywhere it has been tried. Utopia doesn’t exist. The real world is hard and cruel and unforgiving. It takes a tough nation to stand up to reality. With the proper leadership, I know the United States can do it.

But it’s time for this guy to go. The sooner, the better.

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