Posted on 04/28/2016 1:24:21 PM PDT by Nachum
Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in a final affront to fact, Obama dismisses the conclusion of "The Big Short" proclaiming that he reined in Wall Street, overhauled the banking system, and made water from wine "the financial system substantially more stable."
With regard his presidential legacy, Obama recently said he was proud of the healthcare reforms, and added that:
"saving the world from a Great Depression – that was quite good."
Defending the sheer arrogance (and ignorance) of such a statement, he added, "I'm proud; I think I've been true to myself during this process." Truth must have a different meaning where he comes from, but of course, anyone doubting the truthiness of such a statement was hacked down to size with the now ubiquitous "Don't give up and succumb to cynics."
And now, as The Independent notes,
The interview, with the paper’s Sunday Magazine, was part an exercise in patting himself on his own back for lifting the US out of the economic morass he inherited from President George W. Bush and part remorse.
“I actually compare our economic performance to how, historically, countries that have wrenching financial crises perform,” he said of the early days of his presidency. “By that measure,
(Excerpt) Read more at zerohedge.com ...
ALL of them have been Negative for 30 years, Obama’s just happens to be the WORST.
It is easy to check for yourself
Budget/Deficit=%
Billions of Dollars
3871 / 474 = 8.1666
8.1666 is the PERCENTAGE of GDP Artificially added through DEVALUATION(inflation). In order to BREAK EVEN real GDP must be at least 8.1666 PLUS THE AMOUNT OF INTEREST DUE ON THE DEBT. Calculated the same way
Total Budget / Interest = %
Anything less is Pure THEFT BY DEVALUATION. (Real Inflation)
For what he has done for the NWO-international bankers, I expect to see him, with Reggie at his side, waving from some European castle wall, dressed like Emperor Jean-Bédel Bokassa in his prime.
Deficit spending (Mostly began with Lyndon Johnson's Great Vote Buying Society programs) is like riding a Tiger. Once you start it, you can't get off. When you do, the Tiger is going to eat you.
They have made such a much of the nation's finances that the only way to continue is to keep printing press money streaming into the system, and to keep "churn" going in all the markets.
But the catastrophe that these policies represent are logarithmic in nature. They get worse at an increasingly faster rate.
I keep pointing out that Modern Economic Policy is pretty much a bastardization of the ideas produced by that famous Homosexual economist John Maynard Keynes.
This "live for the moment" thinking will put an otherwise immortal nation on the path towards death.
We have to swallow the tariff pill and place an across the board tariff of 20%, that will eliminate the deficit and at least stop the bleeding. It will also stop offshoring another plus.
I have been of divided mind for some years about this "Free Trade" business.
The Democrat Fascists have made it so difficult to do business in the United States of America, that I see companies fleeing to other countries as a sort of self-defense move on their part.
As an example I mention the case of Johnson Controls who used to manufacture lead batteries in the US. They had a policy that child bearing age women were not permitted to work in the battery factory for fear of lead contamination of any children they might carry while working there.
Of course several of them got together and sued on the basis this policy was discriminatory. Johnson Controls lost the case, and was ordered to pay the plaintiffs millions in damages. Johnson Controls then asked the court if this decision would protect them from future cases of women claiming lead contamination for children they carried while working there.
The Court said, "No." You will still be liable for that.
Johnson Controls said: "F*** You! We are moving the Factory to Mexico where we do not have to deal with such asinine and costly stupidity."
And so they did. All those Jobs for that factory are now in Mexico.
But on the other hand, so many more of these US corporations have decided that they have no loyalty to the people of the USA, and are simply moving to other nations because it boosts their profit margins.
Pat Buchanan pointed out years ago that "Free Trade" isn't really a fair characterization of what is happening. He said that foreign countries allow corporations to operate under conditions that wouldn't be allowed in the USA, and as a result they have an unfair competitive advantage compared to US companies that have to abide by all these rules we have here.
I think that is a fair point. We should practice a form of reciprocity. If the rules of the origin country match or exceed ours, we should allow their products into our country with either no duty or a small duty.
If on the other hand, these other nations of origin do not meet our existing standards, then they should be required to pay a higher tariff to put the competitive field even.
I think this is a commonsense proposal.
In a different world at a different time, the women who sued, their attorneys and the judge would have been shot.
I like your post but like many you use really obscure outliers for examples of regulatory impediments. It’s really about exploiting both an open market with no import tariffs and foreign cheap labor. We need to pay the piper now.
The reality is more complex than I indicated in my post, but we should always keep in mind that there is always another valid perspective on an issue.
Yes, I think the dominant force pushing modern US companies is foreign cheap labor. None of our companies seem aware of any civic duty to their own people, and I put the blame for this at the feet of those who fought against the influence of religion or nationalism in our society.
I keep telling the "fiscal conservatives" who seem to think "fiscal" issues exist in a separate reality from "social" issues, that once you have undermined the moral foundation of a society, concepts like "Thou Shalt not Steal" loses all compelling force as well.
When you undermine the concept of morality in a society, you ought not be surprised when leaders of companies feel no compulsion to behave in a moral way.
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