Can the American Economy Recover?

Obamanomics 101 – if you do not at first succeed, try to lie again.

During the election campaign, Obama pledged to create up to five million new “green collar jobs.” He also pledged to oppose NAFTA and unfair free trade and protect American jobs.

Obama campaigned on creating jobs but after he was elected it quickly changed to “save or create.” The absurd 5 million figure dropped to a still unrealistic 3 or 4 million. Saving a job is a self-serving ambiguous concept. It can’t be verified that job would have been lost or that it even was saved. So Obama can say he saves jobs but it can never be proven or verified, unlike the current unemployment numbers – which continue to climb after the Obama stimulus package.

“The report confirms that our plan will likely save or create 3 to 4 million jobs,” Obama said, “Ninety percent of these jobs will be created in the private sector. The remaining 10 percent are mainly public sector jobs we save, like the teachers, police officers, firefighters and others who provide vital services in our communities.” -Obama 1/11/09

Now when it becomes clear to even Obama that the stimulus isn’t working, he changes his tune and invents a new word, “tick up.” I guess he thinks this will sound less ominous than rising unemployment. More superficial verbal trinkets and bobbles from this polemic charlatan.

“How employment numbers are going to respond is not yet clear….My expectation is that we will probably continue to see unemployment tick up for several months…. the hard truth is that some of the jobs that have been lost in the auto industry and elsewhere won’t be coming back, they are casualties of a changing economy.” -Obama 7/14/09

Not clear? To this great visionary and world leader? It has been real clear to many of us since last Sept but now Obama claims he underestimated just how bad things were.. Finally he addresses the reality of rising unemployment and the fact jobs won’t be coming back. Our economy is wrecked but all he can do is blame it all on Bush when the wrecking has been going on for forty years or more. Both Democrats and Republicans contributed their fair share of free trade nonsense but all they want to do is blame one another.

Mr. Obama, what about that economic stimulus plan that was going to create 5 million jobs?  You don’t hear the Democrats crowing about a “jobless recovery” now do you.

A longtime employee of Caterpillar stated: “They brag about record profits all these years, and now they want to get us out,” said one man with more than 30 years at the plant. “This just gives me a knot in my stomach.” His friend was disgusted. “These jobs aren’t coming back, not for years.” -2/12/09

The unfortunate reality is that America has exported many her good paying jobs. Entire industries were off-shored while companies and Wall Street made record profits. Now they are going bankrupt and out of business. They lied and said we would all have high tech jobs. They said that cheap imported goods would save us money. What they have been doing is “spreading the wealth” globally. It has destroyed our industrial strength and infrastructure. It has destroyed our tax base. It has destroyed entire communities and cities and counties and even states. And to make matters even worse they imported 30 million illegal aliens to do “the jobs that Americans won’t do” anymore for $5 dollars an hour. Remember that minimum wage that was going to save America?

But the global elitists continue to make money hand over fist while America continues to suffer under the yoke of the economic tyranny of the Fed.

So what is Obama doing to fix all this? He is exporting even more jobs (GM) and importing even more illegal aliens. And he is raising our taxes to pay for his massive wealth redistribution agenda (Tax and Trade, Obamacare). But at least the illegals will soon be voting Democrat to keep this winning team in office for the next 40 years. By then we will all be in the poor house and America will be just another debtor third world nation. Just another laggard nation of economic slaves yoked to the grindstone of the elites of the international bankers of the New World Order.

“I can make a firm pledge,” he said in Dover, N.H., on Sept. 12. “Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” He repeatedly vowed “you will not see any of your taxes increase one single dime.”

Either he lied or he is a fool and a firm pledge means something else in Obamanomics……….. If the American economy is to recover it needs to be rebuilt. Rome wasn’t built in a day and America wasn’t destroyed by just Bush in 8 years either. Fancy speeches and deceitful campaign promises won’t do it either. It certainly will not be rebuilt by taxing us to death. It will take time and a lot of hard work and more importantly a real national awakening as to how we were ended up in this situation in the first place.

Can The Economy Recover?

Paul Craig Roberts
July 16, 2009
There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.”
The “New Economy” was based on services. Its artificial life was fed by the Federal Reserve’s artificially low interest rates, which produced a real estate bubble, and by “free market” financial deregulation, which unleashed financial gangsters to new heights of debt leverage and fraudulent financial products.

The real crisis awaits us. It is the crisis of high unemployment, of stagnant and declining real wages confronted with rising prices from the printing of money to pay the government’s bills and from the dollar’s loss of exchange value.
The real economy was traded away for a make-believe economy. When the make-believe economy collapsed, Americans’ wealth in their real estate, pensions, and savings collapsed dramatically while their jobs disappeared.
The debt economy caused Americans to leverage their assets. They refinanced their homes and spent the equity. They maxed out numerous credit cards. They worked as many jobs as they could find. Debt expansion and multiple family incomes kept the economy going.
And now suddenly Americans can’t borrow in order to spend. They are over their heads in debt. Jobs are disappearing. America’s consumer economy, approximately 70% of GDP, is dead. Those Americans who still have jobs are saving against the prospect of job loss. Millions are homeless. Some have moved in with family and friends; others are living in tent cities.
Meanwhile the US government’s budget deficit has jumped from $455 billion in 2008 to $2,000 billion this year, with another $2,000 billion on the books for
2010. And President Obama has intensified America’s expensive war of aggression in Afghanistan and initiated a new war in Pakistan.

More here.

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