Good Politics and Bad Ecnomics02/15/2009 01:56 PM
Do we live in the time of the "Worst catastrophe since the Great Depression" or the time of the biggest rip off of all times. The main stream media seems to ignore the facts and support President Obama's contention that we are in uncharted dire straits. But the facts, though grim, do not support the severe reaction we are hearing.
Unemployment currently stands at 7.6%, up a whopping 2.2% in the last year with expectations that it will increase more in the next year. In 1930, the first year of the Great Depression, unemployment increased by 4.8%, the first of three years of huge job losses. (see {link}). By another measure automobile production has fallen 25% in the last year contrasted to a 90% decline in 1930.
These numbers sadly show we are not in the catastrophe that our political leaders describe. But we could end up there because of the their policies and failed leadership. The promise of transparency and change has been replaced with the most completely hidden and earmark laden legislation of all times. In the name of stimulus the democrats in congress have given us a litany of social agenda spending programs, most of them totally unknown to those who voted for or against the bill.
Clearly Mr. Obama, supported by the liberal media, is a master of the political spin. Even more clearly, he and his woeful choices for cabinet members do not have a clue about the real economical situation.
Or perhaps they do understand what they are doing and they are using the crisis to move all the wealth of this great nation to their control. Either way their actions if not checked will be the end of freedom and prosperity as we know it.
1. Tim Lorge02/15/2009 07:28:49 PM
Homepage: http://www.groupwarenews.com
I totally agree with you. It drives me crazy that no one cares that this package does nothing to stimulate anything except the coffers of liberal pet projects.
2. Tom Dobrucky02/20/2009 09:08:57 AM
Homepage: http://www.famcomp.net
Newb, good to see a Lotus person with common sense. The one thing that everybody glosses over in my utter amazement is Jimmy Carter had 10.5% unemployment and double digit inflation and interest rates. I had just turned 16 and was working at a not one but two gas stations (owned by the same guy) and I remember the gas lines. I remember people bitching at me for gas going up 2 cents a day every other day for 1 month straight no joke. What is happening (like you said) the democrats are implementing all their wish lists for the past 30 years and the American governtment is taking the bait hook line and sinker. What about us who behaved, who do the right thing, who get up each morning, go to work, pay our mortgages and on time??? What is in it for us, NOTHING, and that is fine by me. However, I didn't server 20 years in the Marine Corps only to see this Great Nation become a Communist Nation. Well I've ranted enough. I have your sight book marked in my morning coffee everyday and thoroughly enjoy it. Thanks for listening to my rave.
Tom
Major
U.S.M.C. Retired
a.k.a. The Notes Advocate
3. Andrew Pollack03/17/2009 11:27:57 AM
Homepage: http://www.thenorth.com/apblog
While I'm pretty solidly in the supporter camp when it comes to President Obama, I do agree that for a while the hyperbole around the economic "emergency" got out of hand.
I believe we've seen some backing off of that position now.
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