This affirmative action empty suit has one of the shallowest internal libraries of usefull knowledge of any CEO in modern history, IMO.
No Democrat understands economics. If they did, they would not be Democrats.
I actually think this lame-duck session is the first time in his life he has ever had to seriously even try to understand supply-side economics.
Think about it:
(1) Columbia? Harvard? Their economic departments teach Kenysain as gospel, call supply-side vodoo economics, and say Marxism will work if you put the right people in charge.
(2) As a community organizer, his job was centered around govt. redistributing the wealth.
(3) As a senator he voted how he wanted. Nobody every tried to make him compromise.
(4) For the first two years as president, the Democrats had 100% control in Washington, and ignored conservatives.
Now, for the first time ever, he is in a position where he has to actually listen to, and even compromise with conservatives to get anything done. It is the first time in his life he has ever had to take seriously the other side of the economic argument.
So no, he doesn’t understand economics.
In China, where all the flat-screen TVs that people will be buying are made.
Even if it works (big if) it leads to benefits raising above lower wage limits and discourages work.
I know a guy who says that to work for less than £350 per week would leave him worse off.
He does not know. He does not care.
Only in the sense of “From each according to his ability, to each according to his need.”
Obama understands global communistic change only with class,race, warfare to usher it in.
Does Obama understand economics?
Does a pig read a Sunday school book?
Does a bear use a pay toilet?
Does a hippopotamus teach law at Harvard?
No! He does not!
http://www.youtube.com/watch?v=pCQAJ5na5Z4&feature=related