The Obamar Republic
Geoff at Ace’s had a great post on Friday that everyone should read, and it contained, as they always should, “The Chart”
which clearly illustrates how wrong and inept Team Obama have been on the economy. There’s just no “nuancing” away the fact they they have been completely, totally wrong. Now that they are tanking in the polls there is talk of “panic” setting in at the economic meetings at the White House…although I have a feeling this recent spate of panic may have been more due to the bills from Michelle’s latest trips coming in.
And now there is talk of an “August Surprise,” where in a reckless, blatant attempt to buy votes ahead of the upcoming mid-term elections the Administration would forgive billions in Fannie/Freddie debt, adding hundreds of billions, if not a trillion, dollars to our debt.
In other words, if you have been working hard and living within your means you have had the privilege in the last two years alone to bail out the banking and financial industries and mortgages under Bush; under Obama we’ve bailed out more mortgages, two auto makers, funded a “stimulus” (see The Chart above)…spent trillions of dollars for…what, exactly? And now they want to do it again, adding more and more to our debt, devaluing the currency…the list just goes on.
It’s insane.
It’s unsustainable.
It must stop.
Biz, Nanny State, Politics | Mr. Bingley | 
August 9, 2010 9:38 am
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Obamanomics did not fail. It has done precisely as desired.
I guess the failure is that we’re not as grateful as they think we should be.
But I suppose that’s because we’re schtupid.
This is The Chicago Way: buy your votes. Except that it’s nation wide, now.
Of course the stimulus IS creating jobs…In El Salvador!
http://gatewaypundit.firstthings.com/2010/08/ohios-dem-gov-gave-stimulus-to-co-that-exported-jobs-to-el-salvador/
Will we make it through this mess?
They can pour money into this economy all they want.The problem is we don’t manufacture anything.Nafta and
illegal immigration has destroyed the greatest nation on earth.
This was said about Nazi Germany,and how the holocaust could have happened,”When good people fail to act evil will happen.”
You’re right about manufacturing, but it’s not quite fair to blame NAFTA.
I’m a manufacturing engineer and I have lived through the problems with manufacturing moving to China and Mexico. The problem isn’t NAFTA. It’s the cost of labor.
There is no force on this earth that will stop manufacturers from seeking out the lowest cost to manufacture. The problem is that labor costs too much in this country with no value added. Unskilled labor in the US is paid much, much more than in China or just about anywhere else in the world. Raw materials cost the same, and shipping for many products is negligible. The biggest way to lower costs is to make products where labor is cheaper.
There’s more than one cause for this, but labor laws are designed against businesses, and as we see in the long run this hurts individuals. Minimum wage is too high. Some expenses are appropriate, such as OSHA and other safety expenses. I’ve been around enough to know that without the threat of OSHA penalties too many companies will not take proper safety measures to safeguard employees. This is an expense that Mexico and China don’t bear, but we should because we values lives. But when you add the expectation of medical coverage, retirement programs, and then high minimum wages, and we get to the point that there’s no reason to make a product here.
NAFTA didn’t change this dynamic. It might have made it a little easier to move, but it didn’t change the overall equation.
Hey, JW,
Add this to the list: Gummint Motors said last month sales were going so well it was recalling 2,000 workers — in Canada.
Well yeah, but, they have begun to make political contributions to favored projects of the ruling class right here in the US of A. What’s not to like about that?
The “industrial policy” promoted by these clowns, coupled with ObamaCare, will be the new job killer in the upcoming years.
Hey, Gary from Jersey,
Yep, that sounds about right.
Once upon a time, I pondered the fact, that ” an occupational trade ” was promoted instead of a “degree”. Now I see that the ” occupation, or trade degrees”, were basically overrun by a bunch of nambi- pambiies thinking that their “sheep-skins” made them better, in their own minds. Ergo, the demise of the “industrial” revolution.
How many folks with big expensive “sheep skins” are running around panicking about how they are going to pay off their loans for that “sheep skin”?
My SO has a Masters in Engineering and Physics. He also has a degree in business. He never took out a loan for any of them. What does he do?
Well, he is a machinist. Makes decent money, good benefits. Much to his dismay, it is a union shop. The union serves no purpose for him. But he likes his job, and has turned down “promotions”, but he is constantly refusing “acceleration” other than normal wages increases. He refuses to be part of the game.
We are doing well, but ya never know…tomorrow is another day.
Obama and his politics will kill off the Republic, I’m afraid. I try to remain hopeful, but yet, I doubt that WE, the US, will survive.
Too many socialists in this country.
wow.
That was longer winded. Sorry Bingly!
jw, that was great! I remember lots of people going to Vo-Tech schools and learning decent trades. There’s no shame or dishonor in that, and too many people have been fed the lie that “every one must go to college.” Bullshit. A ton of folks would be much better off had they learned to repair cars or ac systems, etc., then pile on a ton of debt barely getting a degree in “communication” or “inter-departmental studies.”
Not sure how accurate this is, but I’ve learned never to doubt information that supports my point: “U.S. universities also minted 37,000 history degrees in 2006, including 852 Ph.D.s. That for a field with fewer than 500 job openings and average pay of $48,500. Plumbers, by contrast, enjoyed 16,000 new jobs that year and earned only $6,000 less than historians, census figures show”
To be fair, one reason for getting a degree is simply to become educated, and history is a very fine field to be educated in.
That is, the education itself is the desired resulting state, not necessarily the procurement of a job.
Many companies hire people with a degree in liberal arts because they want someone proven to be educated.
The problem is that this method only works when the person getting educated is smart, i.e., among the top 10% or 5% in intelligence. If you’re average, then this theory doesn’t much work, because the liberal arts degree is the garnish, not the meat.
I agree Skyler but I would add the liberal arts degrees are not what they once were and since I just read that something like 60% of students at those schools take roughly six years to graduate. I don’t know if that shows somebody with any real motivation less brains. I’ve worked with a lot of people with degrees and I really don’t know how some of them got it. Not everyone needs or should go to college but those that don’t need to learn a trade or skill.