Posted on 08/16/2010 1:38:29 PM PDT by Hojczyk
Our brief national encounter with optimism is now well and truly over. We have had the greatest fiscal and monetary stimulus in modern times. We have had a whole series of programs to pay people to buy cars, purchase homes, pay off their mortgages, weatherize their homes, and install solar paneling on their roofs. Yet the recovery remains feeble and the aftershocks of the post-bubble credit collapse are ongoing.
We are at least 2.5 million jobs short of getting back to the unemployment rate of under 8% promised by the Obama administration. Concern grows that we are looking at a double-dip recession and hovering on the brink of a destructive deflation. Things are bad enough for Federal Reserve Chairman Ben Bernanke to have characterized the economic outlook late last month as "unusually uncertain."
Are we at the end of the post-World War II period of growth? Tons of money have been shoveled in to rescue reckless banks and fill the huge hole in the economy, but nothing is working the way it normally had in all our previous crises.
(Excerpt) Read more at online.wsj.com ...
Bush, at the very least loved his country. Sure, he could have done a better job, but it’s night and day.
Obama doesn’t love his country. How could anyone who loves America attend Rev. Wright’s church for 2 decades?
I miss Bush, he is a good man.
I’m an amateur welder. You don’t form steel or join it together without heating it to the point where unfamiliar onlookers would think you were destroying it. Sparks fly, burning paint makes smoke, the metal becomes red or yellow-white hot. The torch’s flame is blue-white and blinding and fearsome in itself.
Then you do what you need to do. After the metal cools down it’s fine and you have accomplished what could be done in no other way.
We’re now reforming and rejoining some of the pieces of our society. The good work we’re doing doing can’t be done any other way.
Sometimes there are left over scraps. No problem with that.
No it is exponentially worse than that by a magnitude of 100X. He is a stooge and agent for the global caliphate.
The Saudis have investmenst in all 5 TV networks except maybe CBS/Viacom. The idiots who watcxh TV, ball games and reality TV support their future enslavement.
That’s the best part. Keynesianism was never really a theory bought into by American politicians so much as it was an excuse for spending.
Of course, Keynes’s realization that you have to save during the good times wasn’t quite that strong. Keynes subscribed to G.F. Knapp’s chartalist theory that holds (roughly) that money is created by government expenditure, that it derives its sole value from the ability to redeem it to discharge tax obligations, and that the only way to achieve a positive net money supply (and therefore positive net savings) is through government deficit spending.
I’d go into everything wrong with that theory, but better minds than mine, like Hayek and Friedman, have already done so far more thoroughly than I could.
Mo Mort - it is end of America thanks to *****n Democrats and idiots like you who voted for the Sadui king’s boy.
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