IBD: ‘Stop The Madness That’s Killing Jobs’
They almost nail it (bold is mine):
Why is this job decline happening? The private sector — the real engine of economic and job growth — won’t hire because it’s scared of what it sees coming out of Washington.
On the horizon, as far as the eye can see, are higher taxes, uncontrolled spending and layers upon layers of new regulations.
Who would hire new workers faced with that?
But if you look more closely, you’ll understand see that the private sector has been scared for a full year of what Nancy Pelosi, Barack Obama, and Harry Reid promised to do once in power, what they have done in 5-1/2 short months, and what they are moving swiftly to do now that they are in power. Their 12-month-plus POR (Pelosi-Obama-Reid) Economy, now the POR Recession As Normal People Define It, has exacted a terrible price, yet they refuse to let up.
Given that June 2009 represents the worst June on record, this is probably the point where it’s fair to ask if these people really want a recovery. Even more important, if you still believe that they do, ask yourself “what they would they be doing any differently if they didn’t?”
How do we the people put a stop to this madness??? maybe another revolutions would work
Comment by Rebecca Koly — July 3, 2009 @ 1:22 am
It’s amazes me how supposedly smart, insightful people and organizations are surprised by the effects of Democrat rule when they were predicted, and warned about it as far back as ‘06.
I still maintain that the end game is to institute as much ultraleftist agenda–economic terrorism (i.e. cap-and-trade, government health care, crippling regulations), gut the military, aid other leftist regimes abroad, and destroy Israel–by Nov. 2010. Half of the American sheeple will believe and do whatever the state-run Media tell them. The leftists have created their dumbed-down, free-rider society that they’ve spent a century creating.
Obama doesn’t even care if he’s re-elected. A defeat makes him a martyr in the Leftist Hall-of-Fame with Marx, Wilson, Lenin, Hitler, FDR, Stalin, etc.
Comment by Joe C. — July 3, 2009 @ 8:24 am
They want a recovery all right– in 2012! Any earlier and it won’t do them any good. The way to get re-elected is to make sure 2012 is better than 2011. The way to do that is to drive the economy into the ground, lowering the bar and lowering expectations. Anything will seem like we’re on the road to recovery after that. Also, the worse the economy gets, the greater the need for government assistance, be it unemployment, other benefits, subsidies and/or contracts to your industries. This will make people even more dependent on government and therefore the Obama Administration.
If you look at how he handles the I.G. probes, businesses dependent on government will be very, very hesitant to support Republican opponents.
This is not a democratic government anymore. It is essentially rule by the Mafia. It’s the Chicago Way. Even a cursory read of the Daley years show that this is how you do it.
Comment by Michael — July 3, 2009 @ 9:11 am
If you will remember I wondered sometime back about the motivation of printing so much money by the Fed/Obama as a deliberate attempt at some nefarious hidden agenda. Recently, I said it might be the threat of hyperinflation won’t materialized due to all the wealth destruction. I was looking over the estimated losses to the US. Let’s look at some facts:
US-originated assets’ total loan losses and securities writedowns are expected to reach about $3.6 trillion. The US banking sector is exposed to half of this figure, or about $1.8 trillion (i.e. $1.1 trillion loan losses + $700bn writedowns).
http://www.historycommons.org/context.jsp?item=financial_crisis_33&scale=2#financial_crisis_33
I speculate that the Fed could in theory print $3.6 trillion in bank notes with zero inflation based on the wealth destroyed because it would be replacing that which was destroyed.
I submit the following: Whether by design or incompetence the Fed printing $3.6 trillion is a wealth transfer via a stealth tax upon society. The $10 trillion planned in deficit spending (over and above current taxation) by Obama is the cost of the liberal’s Equality of Outcome by leveling the wealth of all American’s whose Net Assets are above the poverty line. We shall all be equally poor by the time Obama and his evil allies are done if he is allowed to carry out his destructive plans. Based on this I speculate that another $6.4 trillion will be drained from the nation’s assets. (the irony of course is the Chinese dispensed with Equality of Outcome because it was a failure as far as providing for their population.) The point of Equality of Outcome is to impoverish society to grab power under the guise of superior management.
I must admit, the plan is ingenious on it’s face. The public never realized the liberals stole their life savings and investors money, never realized who the architects of the plan were and never connected the dots to see where the money came from the liberals are handing out as bribes to new victims of their scam to recruit them as supporters. Every dollar the Fed prints up (as a replacement) is a dollar stolen from the citizenry. In sum, the liberal plan of redistribution of wealth has been accomplished a supreme act of prestidigitation from your wallet to their hands.
Comment by dscott — July 4, 2009 @ 11:34 am
WHAT MAKES THIS CYCLE DIFFERENT?
http://www.news-to-use.com/2009/07/what-makes-this-cycle-different.html
We shudder to think what the consumer spending landscape would look like if the savings rate was still rising to 15-year highs at a time when incomes were falling faster than they already are. After all, here we are, into the 19th month of recession, and consumer spending in the quarter that just finished looked to have contracted fractionally even in the face of massive help from Uncle Sam. The U-6 unemployment rate, which includes all measures of excess capacity in the jobs market, rose again to a new lifetime high in June to 16.5% from 16.4%. Imagine that 1 in 6 Americans are either unemployed or underemployed, to go along with the 1 in 8 Americans that are either in arrears or already in the foreclosure process and the 1 in 10 homes that are still on the market but not selling. Green shoots, indeed.
Comment by dscott — July 4, 2009 @ 4:53 pm