How to Wreck the Economy – by Vasko Kohlmayer


the-great-depression

“The higher jobless rate could be the new normal” reads the headline of a recent AP report. Further down we read:

“Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years.”

The report’s message is clear. It will be a long time before we recover our former prosperity. Things, in fact, may never be as good as they used to be, at least not in our lifetimes.

But how can this be? After all, it is Barack Obama who is in charge. Less than twelve months ago, the Associated Press and the whole of the mainstream media were selling Obama as the one who would speedily solve this nation’s economic ills. Obama was presented as nothing less than a national savior who had all the right answers.

Writing at CBS, Bonnie Erbe posted a piece in January titled “The Economy Could Actually Turn Around Under Barack Obama.” The piece quoted Jerome Idaszak, associate editor of the Kiplinger Letter, who said: “There’s also a new sense of public confidence in Washington. About 70% of Americans say they are optimistic that the Obama administration will be able to spur growth.” Michael Hirsh of Newswek showed childlike confidence in Obama’s abilities even before he assumed office:

“The new president may think his only task is to rescue the economy. But like FDR, he may have to save capitalism itself.”

How do we, then, explain AP’s present lack of hope in a better tomorrow? It would seem that they are coming to realize that the Messiah of yesterday is making a mess of things today.

To be fair, Barack Obama has been dealt a difficult hand. He has repeatedly said that this crisis was years in the making and in that he is correct. But it should be noted that it has been brought on by the very policies he subscribes to. This crisis, as almost all other economic crises, has been caused by  government. The housing bubble – the bursting of which set things off – was a government creation. Inflated by a combination of unsupportably low interest rates  – set by the Federal Reserve – and Congress’ misguided desire to increase home ownership among low income people, it was a governmentally-induced phenomenon from beginning to end.

Even though Obama was not a major player when those policies were enacted, they were precisely the kind of measures he has always stood for. After all, he worked for ACORN, an organization which threatened to shut down banks that did not meet mortgage quotas for low income earners. So while it is true that Obama did not personally bring about the crisis, the policies he espouses most certainly did.

In any case, now that Barack Obama is in power he is doing everything he can to drive the economy off the cliff and into the ground. David Horowitz recently made a strong case on Glenn Beck that Obama is a far-left radical who poses a great danger to this country. Nowhere is this more obvious than on the economic front. So ruinous have Obama’s actions been that if a Hugo Chavez or some other America hater were given an opportunity to call the shots, he could hardly outdo the president in the destructiveness of his policies. Working relentlessly to impose government control over the American economy and to annihilate the remaining vestiges of the free market, Obama has already wrought untold damage. Nationalizing banks and car companies, debasing the dollar, passing odious business regulations and running up debts that we will never be able to repay are only some of the highlights of Obama’s performance so far.

But all this is just the beginning, because still in the works are two monumentally deleterious schemes – Cap and Trade and Healthcare Reform.

The purported aim of Cap and Trade is to eliminate the nonexistent phenomenon of man-made global warming, but its real goal is to put a stranglehold on the American economy. This will be done under the guise of penalizing those who use energy deriving from fossil fuels. It is rightly said that energy is the lifeblood of the American economy. Significantly, Americans obtain 85 percent of it by burning C02-emitting substances, mainly oil and coal, which is why Cap and Trade would have devastating consequences.

According to analysis by The Heritage Foundation, Cap and Trade “promises serious perils for the American economy for the years and decades ahead.” It would result in the loss of millions of jobs and it would cut trillions of dollars from America’s economic output. Under Cap and Trade the price of gasoline would go up 58 percent and the average household electric rate would increase by 90 percent. Paradoxically, all these immense costs would yield virtually no discernible benefits. More from Heritage:

Climatologists estimate that Waxman-Markey’s impact on world temperature will be too small to even measure in the first several decades. The theoretical moderation of world temperature would be 0.05 degree centigrade by 2050.

All this for less than one tenth of one degree, and even this infinitesimal gain only shows up on models that run on most optimistic assumptions. Looking at all the facts, one cannot but conclude that Cap and Trade is nothing other than a stealth move for the economy’s jugular.

As far as healthcare is concerned, the president’s works are no less destructive. The bill that was passed last Saturday by the House and hailed as a “victory” for Obama contains a provision that would prohibit insurance companies from refusing coverage based on pre-existing health conditions. This is the equivalent of allowing people to buy car insurance after their crash their car or buy fire insurance after their house burns down. Highly controversial, this provision was kept on the urging of President Obama who insisted that it be included in the bill.

If you do not believe that an American president would ever force such an onerous requirement on private businesses, you should refer to an e-mail sent to supporters on August 8 by Obama’s senior advisor David Axelrod. The first bullet point under the heading “8 ways reform provides security and stability to those with or without coverage” reads:

    Ends Discrimination for Pre-Existing Conditions: Insurance companies will be prohibited from refusing you coverage because of your medical history.

Clearly no insurance company can operate under such a regime and continue as a viable commercial entity. Obama’s healthcare “reform” would thus end up driving all insurers out of business and eventually leave the government as the sole provider of healthcare in America.

It should be obvious that the American economy cannot survive the implementation of these odious programs as they would vitiate America’s capitalist foundation. This is why the president wants to make their passage his signature achievements.

David Horowitz is all too correct when he writes that Obama’s goal is “the systematic transformation of our nation from an open, capitalist society, to a Big Brother-type socialist nation.” Obama actions prove Horowitz right almost every day as he takes this country down the sewage tubes of socialism. Despite all his flowery promises, the American people have nothing good to look forward to. The president’s media spokesmen know it, and they are dutifully preparing us for the hardships to come.

  • jones

    Hi
    I think it’s not required to go to physical places to get your vehicles insured anymore. It can be done online, just visit: http://www.online-autoinsurance.net.

  • keithrage

    Obumble the economic terrorist

  • 2maxpower

    this is truly sad to see the damage that is being done to the citizens of the USA by the present administration.

    by destroying the capitalist engine that made America great they are destroying hope for a better tomorrow.

  • Alison50

    Cap and trade legislation will destroy the US economy. We will be forced to pay more for every consumer good, including the food we put on our tables. The idea that the poorest Americans will benefit most is laughable. I wonder if the people who are putting forth that argument actually believe it. Write your Congressmen and voice opposition to cap and trade at http://tiny.cc/1yxPS.

  • mdillian

    I suspect we haven't seen anything yet. If I were a betting man, I would bet the farm that next comes gun control, closely followed by a nationwide brown-shirt federal police force organized not unlike ACORN and loyal strictly to the President, and then the incremental removal from office of state polilticians who are not perceived to be in lock-step with the Administration, i.e., a federal takeover of the states not unlike what we witnessed with banks, the auto industry and health care. I anticipate that soon puppets will be installed in some states, as was most recently achieved in MN. Those who think Obama and his minions in Congress are simply following ill-advised policies are themselves terminally naive. This man Obama, and his cohorts, know exactly what they are doing. There are no coincidences in politics and no guess-work in the implementation of socialist ideology. Every single step to date has been carefully calculated, often years in advance, and cleverly executed with a complicit media upon a disbelieving electorate. The Obama (Alinsky) policies, every one of them, are each designed with the sole purpose of leaving just one man standing when it is all over amid the ruins of American cities and culture. We've been taken. Will we bend over and grab our collective ankles, or will we take it all back? I wonder. History doesn't favor a positive outcome.

  • Wayne

    Destroying capitalism and transforming the country and society to socialism has become more obvious during the Obama administration. But the problem has been developing over time for decades on a gradual basis. Meeting with Stalin in the 1930's George Bernard Shaw suggested to Stalin that Lenin's tomb should read “The Inevitability of Gradualness” — the motto of Shaw and his fellow socialists. Socialism was long ago imported into America and with able assistance took over the education system and the media. Not surprising that the political system has become overtly socialistic today, IMO.

  • Wayne

    Destroying capitalism and transforming the country and society to socialism has become more obvious during the Obama administration. But the problem has been developing over time for decades on a gradual basis. Meeting with Stalin in the 1930's George Bernard Shaw suggested to Stalin that Lenin's tomb should read “The Inevitability of Gradualness” — the motto of Shaw and his fellow socialists. Socialism was long ago imported into America and with able assistance took over the education system and the media. Not surprising that the political system has become overtly socialistic today, IMO.

  • prudentman

    Yes, Obama is ruining the Crony Capitalism that has ruined itself. Unfortunately, too many important people think that Capitalism is engine of this country when it is not. Free Enterprise is.

    Have you every met a capitalist who wants competition? Most businesses want to be monopolies, including mine. That is natural which is why Free Enterprise must protect competition. Crony Capitalism isn't that much different than Socialism except the politics is done differently.

    In the future let's have the U.S. looked as the land of Free Speech, Free Expression and certainly Free Enterprise. Protect those Freedoms with support for Congressional Term Limits which are necessary to protect us from the corruption of incumbency, Socialism and Crony Capitalism's perversion of Free Elections.

  • prudentman

    Yes Wayne, The “Progressives” of the 1920's met with Stalin and were instrumental in FDR's government. These men and women extended the Great Depression for nine years ending in 1941 with 15% unemployment even though we were supply war materiel. Can this entitlement generation take an eight year recesssion?

    A new aspect is George Soros' One Worl, Fascist Orwellian Socialism, which has such an important role and influence in the Obama Administration. Soros' and his lackeys were influencial in the Clinton Administration, many of whom are in top Administration jobs now, but Bill Clinton let greed, sex and his personal appetites get in the way of heir and the more Leftist Hillary's consternation.

    What the Soros, Gates, Eric Schimidt (Google), Gore, Warren Buffett, et al seem to ignore is that polticians, espicially the U.S. Congress, China and Russia, are not cool on allowing these collectivists assuming power over them.

    Like taxing the rich: it doens't work unless they agree to it which seldoms happens without favorable loopholes.

  • LindaRivera

    Obama's Civilian National Security Force:

    Obama: “We cannot continue to rely on our military in order to achieve the national security objectives we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded.”
    http://www.youtube.com/watch?v=gwaAVJITx1Y

    Pravda: America's Descent into Marxism – Brief Video
    http://www.solutionsfromscience.com/

  • LindaRivera

    7/19/09 U.S. Conference FALL of CAPITALISM. RISE of ISLAM
    http://www.youtube.com/watch?v=krRWJmXI9HY

    FOX NEWS
    Islamic Supremacist Group Holds First U.S. Conference
    July 17, 2009
    Diane Macedo

    A group committed to establishing an international Islamic empire and reportedly linked to Al Qaeda is stepping up its Western recruitment efforts by holding its first official conference in the U.S.

    Hizb ut-Tahrir is a global Sunni network with reported ties to confessed 9/11 mastermind Khalid Sheikh Mohammed and Al Qaeda in Iraq's onetime leader Abu Musab al-Zarqawi. It has operated discreetly in the U.S. for decades.

    Now, it is coming out of the shadows and openly hosting a July 19 conference entitled, “The Fall of Capitalism and the Rise of Islam,” at a posh Hilton hotel in a suburb of Chicago.

    Phares said that Hizb ut-Tahrir, rather than training members to carry out terrorist acts like Al Qaeda, focuses instead on indoctrinating youths between ages of 9 and 18 to absorb the ideology that calls for the formation of an empire — or “khilafah” — that will rule according to Islamic law and condones any means to achieve it, including militant jihad.

    “One would compare them to Hitler youth. … It's an extremely dangerous organization.”

    Phares said Hizb ut-Tahrir has strongholds in Western countries, including Britain, France and Spain, and clearly is looking to strengthen its base in the U.S.

    “The aim of this conference is to recruit within the Muslim community in America,” he said. “The Middle East governments go after them, but in the U.S. they are protected, so having a base here is going to help their cells around the world.”

    In his book, “How the Khilafah Was Destroyed,” Sheikh Abdul Qadeem Zalloom, the former global leader of Hizb ut-Tahrir, says anyone who rules by a non-Islamic system should “either retract or be killed … even if this led to several years of fighting and even if it led to the killing of millions of Muslims and to the martyrdom of millions of believers.”

    Hizb ut-Tahrir's official ruling on the permissibility of hijacking planes says, “If the plane belongs to a country at war with Muslims, like Israel, it is allowed to hijack it, for there is no sanctity for Israel nor for the Jews in it.”

    And one of the organization's more recent leaflets, published in March, calls for the declaration of “a state of war against America.”

    But, despite these threats and calls to action, Hizb ut-Tahrir remains off the State Department's terror watch list, and it is free to host the Khilafah Conference and any other event like it.
    http://www.foxnews.com/story/0,2933,533525,00.html

    In waging jihad against America and the world, having American protection is a huge asset for terrorists. The call for Khilafah 2007-2008 Hizbut Tahrir
    http://www.youtube.com/watch?v=hZ5QF6syTjI

  • LindaRivera

    RUSSIA'S WARNING: U.S. Capitalism Gone with a Whimper
    27.04.2009 PRAVDA.Ru
    American capitalism gone with a whimper

    It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

    True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. But we Russians would not just roll over and give up our freedoms and our souls, no matter how much money Wall Street poured into the fists of the Marxists.

    Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.

    First, the population was dumbed down through a politicized and substandard education system based on pop culture, rather then the classics. Americans know more about their favorite TV dramas then the drama in DC that directly affects their lives. They care more for their “right” to choke down a McDonalds burger or a BurgerKing burger than for their constitutional rights. Then they turn around and lecture us about our rights and about our “democracy”. Pride blind the foolish.

    Then their faith in God was destroyed, until their churches, all tens of thousands of different “branches and denominations” were for the most part little more then Sunday circuses and their televangelists and top protestant mega preachers were more then happy to sell out their souls and flocks to be on the “winning” side of one pseudo Marxist politician or another. Their flocks may complain, but when explained that they would be on the “winning” side, their flocks were ever so quick to reject Christ in hopes for earthly power. Even our Holy Orthodox churches are scandalously liberalized in America.

    The final collapse has come with the election of Barack Obama. His speed in the past three months has been truly impressive. His spending and money printing has been a record setting, not just in America's short history but in the world. If this keeps up for more then another year, and there is no sign that it will not, America at best will resemble the Wiemar Republic and at worst Zimbabwe.

    These past two weeks have been the most breath taking of all. First came the announcement of a planned redesign of the American Byzantine tax system, by the very thieves who used it to bankroll their thefts, loses and swindles of hundreds of billions of dollars. These make our Russian oligarchs look little more then ordinary street thugs, in comparison. Yes, the Americans have beat our own thieves in the shear volumes. Should we congratulate them?
    http://english.pravda.ru/opinion/columnists/107

  • LindaRivera

    U.S. BROKE, but BILLIONS for Muslim FAVORITES

    DRUDGE REPORT
    'WE'RE OUT OF MONEY'
    May 23 2009

    In a sobering holiday interview with C-SPAN, President Obama boldly told Americans: “We are out of money.”

    SCULLY: You know the numbers, $1.7 trillion debt, a national deficit of $11 trillion. At what point do we run out of money?

    OBAMA: Well, we are out of money now. We are operating in deep deficits
    http://www.drudgereport.com/flashocs.htm

    CREEPINGSHARIA.COM
    Obama’s Supplemental Bill Passes, Gives Billions to Enemies?
    By creeping

    Barack Obama’s 2009 Supplemental Appropriations for Iraq, Afghanistan, Pakistan, and Pandemic Flu was revised and “passed by the full committee”. Not sure what the next step is, but based on the summary, it gives billions of U.S. taxpayer dollars to countries and entities that support sharia law and/or harbor, hide and support those who want to destroy the U.S. and our allies.

    Read the summary from David Obey’s office that was quietly released last week with nary a word from any media.

    • $3.6 billion, matching the request, to expand and improve capabilities of the Afghan security forces

    • $400 million, as requested, to build the counterinsurgency capabilities of the Pakistani security forces

    • Afghanistan: $1.52 billion, $86 million above the request

    • West Bank and Gaza: $665 million in bilateral economic, humanitarian, and security assistance for the West Bank and Gaza

    • Jordan: $250 million, $250 million above the request, including $100 million for economic and $150 million for security assistance

    • Egypt: $360 million, $310 million above the request, including $50 million for economic assistance, $50 million for border security, and $260 million for security assistance

    • Pakistan: $1.9 billion, $591 million above the request

    • Iraq: $968 million, $336 million above the request

    • Oversight: $20 million, $13 million above the request, to expand oversight capacity of the State Department, USAID, and the Special Inspector General for Afghanistan to review programs in Afghanistan, Pakistan and Iraq

    • Israel: $555 million of the $2.8 billion 2010 request for security assistance, $555 million above the supplemental request. (Note: that means Obama’s original request did not include any money for Israel in 2009)

    • Lebanon: $74 million

    • International Food Assistance: $500 million, $200 million above the request, for PL 480 international food assistance to alleviate suffering during the global economic crisis

    • Refugee Assistance: $343 million, $50 million above the request, …including humanitarian assistance for Gaza. Funding for the UN Relief and Works Agency programs in the West Bank and Gaza is limited to $119 million (Note: Gaza = Hamas)

    • Disaster Assistance: $200 million to avert famines and provide life-saving assistance during natural disasters and for internally displaced people around the world, including Somalia, Zimbabwe, Ethiopia, the Middle East and South Asia

    • Peacekeeping: $837 million for United Nations peacekeeping operations, including an expanded mission in the Democratic Republic of the Congo and a new mission in Chad and the Central African Republic

    • HIV/AIDS: $100 million, $100 million above the request, for the Global Fund to Fight AIDS, Tuberculosis and Malaria to address a funding shortfall for grants in key countries such as Haiti, The Democratic Republic of the Congo, and Afghanistan. (Note: That means Obama’s original request didn’t include any money for AIDs)

    • Africa: $151 million, $18 million above the request, for economic and security assistance for Kenya, Somalia, Southern Sudan, and Zimbabwe

    • Mexico: $470 million, $404 million above the request, to address growing violence along the United States-Mexico border by supporting the Government of Mexico’s war against organized crime and drug-trafficking

    • Georgia: $242 million to fulfill the United States commitment to the people of Georgia

    • Global Financial Crisis: $300 million, $148 million below the request, to address the global financial crisis in developing countries

    • Nuclear Non-Proliferation: $55 million, $34.5 million below the request, for the National Nuclear Security Administration to safeguard nuclear material in Russia and other sites world-wide

    • Department of Justice: $17 million, matching the request, for counter-terrorism activities and to provide training and assistance for the Iraqi criminal justice system

    Updates:

    Mass media remains silent on this but the International News has now picked up the story

    …and then there is Obama’s $108 billion IMF bailout scheme in addition to the Supplemental

    Related:

    To really add insult to injury, check our previous Creeping Sharia post – Obama asks Congress to allow U.S. funds to terrorist Hamas govt

    The Obama administration has asked Congress to let aid to Palestinians continue if Hamas backers are included in a new unity government, observers say. The proposed change in U.S. law would be necessary because Hamas, which controls the Gaza Strip, is designated as a terrorist organization and therefore cannot receive U.S. aid.
    http://creepingsharia.wordpress.com/2009/05/13/

    Whilst homeless shelters are filled to capacity and desperate jobless and homeless, NEGLECTED Americans are living in tent cities, billions are gifted to highly favored Muslims. May G-D have mercy on America.

  • LindaRivera

    Obama Says U.S. Long-Term Debt Load ‘Unsustainable’
    By Roger Runningen and Hans Nichols

    May 14 (Bloomberg) — President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

    “We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

    Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”…
    http://www.bloomberg.com/apps/news?pid=20601087

    Obama admits the terrible financial destruction wrought against Americans. WHY then DOES OBAMA NOT IMMEDIATELY REVERSE this TRAGEDY?

    A major investor states America is going to reach Zimbabwe hyperinflation.
    http://economyincrisis.org/articles/show/2942

    Billions of dollars urgently needed for America's defense is instead gifted to Islam. Nuclear Iran and nuclear North Korea both state they intend to destroy America. They are not idle threats. The same venomous hate for the U.S. is shared by other nations and Muslim terrorist organizations. The treasonous response of the U.S. government to America's increasing danger, is to drastically reduce our defenses facilitating America's annihilation.

    See: Aloha, “Star Wars” By: Washington Times Editorial
    Washington Times | Monday, June 29, 2009
    http://www.frontpagemag.com/readArticle.aspx?AR

  • mdillian

    Thank you Linda. Have you viewed the link below? Most of my acquaintances have stated that this one is hard for any American to watch all the way to the end.

    http://www.youtube.com/watch_popup?v=tCAffMSWSz

  • bubba4

    With a title like that, I thought it would be about Bush….but nope another “government is bad” rant.

  • etyetydfghfghdfg

    jobs are gone and keep on disappearing every day……NO RECOVERY POSSIBLE WITHOUT JOBS in USA!
    Everybody with IQ above 80 knows it……
    Maybe the decision makers are not “that” smart….. :—-[

  • LindaRivera

    Who has the money?

    ABC News
    Exclusive: Jobs 'Saved or Created' in Congressional Districts That Don't Exist
    Recovery.gov Lists Millions Spent and Hundreds of Jobs Created in Districts Not on Map
    By JONATHAN KARL

    Nov. 16, 2009—

    Here's a stimulus success story: In Arizona's 9th congressional district, 30 jobs have been saved or created with just $761,420 in federal stimulus spending. At least that's what the Web site set up by the Obama administration to track the $787 billion stimulus says.

    There's one problem, though: There is no 9th congressional district in Arizona; the state has only eight congressional districts.

    There's no 86th congressional district in Arizona either, but the government's recovery.gov Web site says $34 million in stimulus money has been spent there.

    In fact, Recovery.gov lists hundreds of millions spent and hundreds of jobs created in congressional districts that don't exist.

    In Oklahoma, for example, the site lists more than $19 million in spending — and 15 jobs created — in congressional districts that don't exist. In Iowa, it shows $10.6 million spent  and 39 jobs created — in non-existent districts.

    In Connecticut's 42nd district (which also does not exist), the Web site claims 25 jobs created with zero stimulus dollars.

    The list of spending and job creation in fictional congressional districts extends to U.S. territories as well…
    http://abcnews.go.com/print?id=9097853