The Green Pied Piper from Chicago

President Obama's June 2 speech at Carnegie Mellon University in Pittsburgh, reflected again in his Oval Office speech last night, provided a foundational statement for his economic policies, explaining how he thinks they have worked so far, and how they will bring back prosperity in the rest of his term. Both speeches reveal a man who quite expressly thinks economic growth and prosperity are created by more government spending, higher taxes, and more regulation, and who can't imagine how anyone else could think differently.

In Pittsburgh, President Obama expressly credited the TARP bailouts of the financial sector, the federal bailout of the auto industry, and his trillion dollars in so-called stimulus spending for ending the recession and restoring economic growth. But this column explained last week that what we are experiencing is a natural, cyclical economic recovery that has been delayed and stunted by Obama's outdated, counterproductive policies reaching back almost 100 years to the 1930s.

The average recession since World War II has been 10 months and the previously longest since then has been 16 months. But now, 30 months after the recession officially began in December 2007, unemployment remains stuck at nearly 10%, and the National Bureau of Economic Research, the official scorekeeper on the matter, says it can't yet determine that the recession is over. Economic growth is less than half what it should be coming out of a recession this steep, and now there is talk we may be peering down the roller coaster into a double-dip recession.

With federal deficits and borrowing sucking over $3 trillion out of the economy in President Obama's first two years, no wonder small and medium businesses can't get loans and capital to create jobs.

The Obama address from the Oval Office was typical ideological clap trap. The amount of energy from wind turbines is currently less then the output of one oil well.

What you observed when Obama went into his speech was a hatred of real businesses who actually create jobs in preference to imaginary businesses which may never exist.

Alternative energies are much more expensive then oil and natural gas and with our current economic state are not affordable to the levels the President mentioned.

Ludwig Von Mises stated, "All easy credit ends badly."

We are living that statement now and it was all to perfectly predictable.

Ironically, the socialists inside the beltway never practice sound economics. They simply want to buy your vote with your money and you eventually get less then your vote is worth while being charged 10 tens over.

In short, Washington is a city of sleaze. And the effects of central economic planning will be visible by September as unemployment continues to creep up.

Obama will blame it on everyone but his idiotic economic policies. The public will blame it on him and the U.S. Congress.

Perhaps we will see a message to Congress. But it doesn't matter.

The economy will continue to deteriorate as individuals and the business community continue to operate in fear of what's to come next.

All central economic planning ends badly.

“All central economic planning ends badly.”

Not when all these brilliant, really-really smart, intelligent, bright, all-knowing, superbly magnificent,
highly-evolved, superior human beings figure everything out and declare that they are the ones for whom the human race has been waiting.

They are so brilliant, so intelligent, so filled with knowledge, that they are able to operate, collectively, like the most advanced computer ever devised, perfectly advancing humanity to utopia.

Everyone else is a bible-thumping, gun-loving, knuckle-dragging moron.

/S/

IMHO

With federal deficits and borrowing sucking over $3 trillion out of the economy in President Obama's first two years, no wonder small and medium businesses can't get loans and capital to create jobs.

Reagan was at a low approval rating in his 2nd year due to a bad economy ( thank you Jimmy Carter )but he had instituted the correct economic policies, Reaganomics, to cure the problem and asked Americans to be patient till they kicked in --which they most certainly did.

The fool we have in office now has instituted policies that will NOT work and will make things worse

He and his cronies are in for very rough sledding

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