Aug 20 2010
The Only Hope For American Economic Stimulus
I hate to put it this way, because it sounds like a bad cliche, but the path to economic recovery is a sound drubbing of the Democrats in November. For two years the Democrats have ignored the will of the people, instead pushing, bribing and bullying their liberal fanatic policies into law. The result was not just horrid economic policies that raised the debt and deficits to frightening levels.
The fact Democrats ignored the people, closed down town halls and insulted the opposing views with vehemence instead  of leading and bringing the country together did something even worse to the economy.
These acts of the Democrats destroyed this nations “Hope” and confidence.
Obama and the Democrats were given power to lead this nation based on false promises they made. They claimed to be for the little people, they really were for big government. They promised to be transparent and open, but they passed their bills through bribery and back room deals. They promised to bring people together, they did no such thing – except to bring people together in opposition.
There are no green shoots because the Democrats are still violently ignoring the will of the people and are dead set against admitting they screwed up. Why is there no recovery? As long as the political equation stays were it is, with DC liberal ideologues in power ignoring reality, there can be no optimism or hope to change things.
No change in DC, no hope. No hope, no recovery
In the irony of all ironies, the administration and congress who promised ‘Hope & Change’ completely destroyed all hope for better change to the point the nation’s entire economic engine has stalled in a puddle of malaise.
We see this in the reporting on the economy, first here:
When it comes to economic stuff, the first guy I turn to is James Pethokoukis, formerly of U.S. News and World Report, now of Reuters. He shares an assessment from economist Robert Brusca that might as well be read aloud by Vincent Price: “The day that optimism died. It has a time. It is sort of official: August 19, 2010. … The rise in the jobless claims number posts a 500K number and makes the backtracking official and really bad. … Optimism has died and there is a reason. Things are not getting better at even the same rate. Those seeing the economy as getting better are in a distinct and shrinking minority. … Brace yourself. I’m sorry to be the bearer of this bad news. This is not what I had expected. I don’t know how much it will shake markets but I’d eventually expect something that can be measured on the Richter scale.â€
What does a UI claims figure of 500,000 mean? As a rule of thumb, the rate of UI claims needs to fall below 425,000 to signal net job creation, so the most obvious answer is that the UI claims data suggest employment is falling and the economy is just about flat-lining in terms of growth.
Taken in isolation, the UI claims might be taken with a grain of salt. But second quarter GDP data also suggest that the underlying trend growth rate in the economy is worrisomely close to zilch. Very little recent economic data contradict this view.
It’s entirely possible the economy is just taking a breather before the recovery resumes with some strength. Many good forecasters expect this.
But it’s unlikely. The U.S. economy is poised to flourish, but it can’t. It’s missing a vital ingredient — confidence. The economy can’t speed forward because families and businesses are losing confidence in the economy and in the ability of Washington to do anything positive about it.
The data is worse than just the UI claims – as I noted yesterday.
The fact is the Democrats’ arrogance has drained this economy and the American people of the will to even try right now. We did try, for two years, to voice concerns, raise alarm bells, send clear signals in voting booths, yell at the top of our lungs in town hall meetings and gather in huge numbers at Tea Party rallies. All of this was because we hoped we could change DC’s stubborn and myopic attitudes. Nothing worked.
We need new leaders who will turn this ship of state around – ASAP.
So without hope of change, there can be no recovery. Which is why the Democrats need to be roundly thrown out on their broad posteriors. Only a massive political wave will provide the shock this nation needs to feel hope again and be able to strive together for a better change.
From the very beginning, January 2009, many of us knew we were in trouble and in for a very bumpy ride. We were proud that our country with a slave history had elected our first black president, but we also knew that this guy was la la landish. His beginning, middle and end as it was, was hidden, missing or wiped away, except for a few nuggets that were very iffy. His words were soaring, his life less then ordinary, and we all hoped like mad it wouldn’t be as bad as it could be and that the changes would be prudent. Well, now we know for sure, Obama is a disaster. And those he counts on in congress are equally la la landers with big puffed up chests who have no clue about “real” people out here and how the “real” world works.
Obama’s greatest contribution to American life, chaos. Americans have slammed their doors on him, with a wake me when it’s over posture……and please make it snappy.
One must remember, for Obama, recovery was not the goal. Thinking about him in the ordinary sense as a politician is a mistake. He is a “change agent.”
Re-distribution of wealth and deepening class warfare are the goals. Initating policies that destroyed the wealth and savings of the middle class.
He promised to “fundamentally change” America.
AJ,
There will be no recovery without jobs and 70% of new jobs are small business jobs.
There will be no small business hiring until Obama loses his current job.
And there is nothing he or other Democrats can do to change the minds of small businessmen on the subject. They have stopped listening.
See:
http://globaleconomicanalysis.blogspot.com/2010/08/small-businesses-are-not-hiring-why.html
We told them their policies wouldn’t work, but they would not listen!
We told them ObamaCare would force us to pay more for less services, take away seniors safety net and rights to purchase that which they could afford.
They shouted us down and LIED in our faces!
They said they were anti-abortion, free market, deficit hawks to get elected and promptly voted in taxpayer funded abortions, the largest deficits in history, and socialized auto companies, banks, stock firms, states and teachers, just to bail out their UNION power base!
The DEMOCRATS LOCK, STOCK AND BARRELL LIED!
They passed their lies in the middle of the morning on weekends when they thought we wouldn’t see!
They are lyin scum who need to be tarred, feather and rode from political life on a rail.
Now they profess to try two of their own for corruption that would land any of us in jail knowing full well the fix is in and these two will not even lose their jobs let alone spend time in jail like Scooter Libby and Martha Stewart!
Nothing that fate can hand them is harsh enough for these lying, anti-American Traitors. They all took oaths against the very things they have become.
Only trials for treason and jail for life would rectify the fraud they have perpetrated upon the USA and her “working citizens”!
A recession is when your neighbor loses his job.
A depression is when you lose your job.
A recovery is when Obama, Pelosi, Reid and their fellow albatrosses lose theirs.
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I agree that we’re all just waiting for November, in the hopes we can at least stop the administration’s offensive against the private sector.
Why are they doing this to us?
I’ve come to the conclusion that liberals don’t see increased economic activity as anything but a problem to be dealt with. Increased economic activity means that the rich will just get richer, at the expense of you know who. Zero sum, as they see it. They relate to the private sector only in the sense that they feel they need to redistribute the wealth there-in, which fits nicely with their goal of buying votes and thus dominion over private sector wealth.
For me there have been two events that indicated we were in for a rough ride. First, when the secured creditors were shafted prior to the GM bankruptcy. Unprecedented. We should not wonder why banks aren’t lending.
Then when the President of the United States, while being interviewed by Charlie Gibson, revealed that he wasn’t aware that the last three times capital gains taxes were lowered, the result was an increase in revenues to the government.
This told me that these people obviously aren’t focussed on revenues, because revenues are for chumps, they want control of all the wealth created in the private sector.
It’s all so frightening, but I’m confident that, in the end, all this will serve to expose the failure of liberal doctrine for decades to come.