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Obama Not to Blame for the Economy’s Collapse
We can’t recall ever having spoken a kind word about Barack Obama, nor do we even imagine him capable of saying or doing something that might bring us around. However, we do not – repeat, do not – blame him for the terminal state of the economy. It was headed irretrievably into a Second Great Depression long before he took office, and the things he has tried so far to forestall a day of reckoning are, for the most part, the same things that any president, Democrat or Republican, would have tried. Nothing would have worked, of course, because the deflation that the U.S. and the rest of the world have been trying so desperately to counteract is drawing irresistible force from an imploding derivatives bubble valued notionally at nearly a quadrillion dollars. Small wonder, then, that a relatively puny stimulus effort amounting to mere trillions of dollars has bought us only time, not growth, and done so in a way that will burden future generations with more debt than they will be able to service, let alone repay.
To be sure, a solution has always lain well outside the boundaries of political discussion. The best we could have hoped for was a legislative sausage pleasing to the tastes of Harry Reid and John Boehner alike. But nothing those two could conceivably have agreed on would have brought the economy around. Nor would a change at the top have helped. Put someone else in the White House not handicapped by Mr. Obama’s timidity, incompetence and cluelessness – New Jersey Gov. Chris Christie is our idea of the right guy for the job – and even he would have failed to slow the country’s slide into deepest recession, let alone reverse it. For in fact we face 30% unemployment, a wave of bank failures that will rival the 1930s, and a real estate washout that will double the devastation that has already occurred. All of this is coming, and even though a President Christie, in the heat of the banking crisis of 2008-09, might have proffered the only correct answer – i.e., let the banks fail, allowing the markets to clear and the economy to right itself – it is inconceivable that he could have sold this course of non-action to Congress.
What Will Be ‘Money’?
And so, we can only wait nervously for the trigger event that will cause the economy to implode, unsanctioned. There is no predicting when this will occur, but the May 2010 Flash Crash provides strong reason to think that it will be mostly over – at least, the digital-financial part of it – in time for the evening news. The morning after, the desperate concern of nearly every American will be…money. It doesn’t take a rocket scientists to recognize that credit cards will no longer be the coin of the realm at that point. And just what might be? Silver and gold coins would be our guess, along with what little U.S. currency happens to be circulating when the music stops. If you are not prepared for something like this now, you ought to be. We’ll conclude with a link to the best book we’ve read to help you get ready, Sean Brodrick’s The Ultimate Suburban Survivalist Guide.
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Shh. They only burn the ones they notice.
Obama is not responsible for the recession he inherited. He will, however, rightly be held responsible for the depression. Man is a walking, talking leadership vacuum.
you're right. Obama could have peddled the pace car at the soap box derby. that would have shown leadership
peak oil 2012
absolutely ben; barry obama completely misgauged the financial climate when he took office. his bailouts of financial criminals put youth out of work and took us down into a depression. obama's failure to lead is exacerbated by incoherency and infighting amongst the ranks of his administration. his decisions to compromise on his core beliefs and every issue, cemented congress' view that he's an ineffective leader and ensured that they would not work with obama.
He has not compromised a single one of his core beliefs! He is a CIA-trained scion of a CIA family who was trained from an early age to get to where he is and to do what he has done. The true Manchurian Candidate.
"The first time I heard of Barak" (interview with the author here: mp3 - listening to the audio, the man sounds authentic)
http://nobarack08.files.wordpress.com/2011/04/sr1.jpg - Obama's father being greeted at Hickham AFB, Hawaii, in 1959 by CIA operative and future father-in-law, Stanley Armour Dunham.
he didnt misgauge anything. he knew and was complicit every step of the way. just doing what he's been told to do is all.
:)
Pardon, but bringing in three known Wall Street ass clowns to run his recovery for him, despite being warned to the contrary, implicates him directly into the clusterfuck.
I think obibble will do better on dancing with the stars.
Bush sucked, reagean sucked, carter sucked, nixon sucked and clinton got sucked a few times.
Change, you should be aware of. Paul would make no more difference than Ringo would. Built by the elite and destroyed by the elite.
We had one chance for real change with perot, but would of been a dictatorship style crash bash. Money and evil are running this country, like usual. It never cares about the common folk, and never will.
"it is a big club of rich cocksuckers, and YOU AIN"T IN IT."
Especially when he had Volcker available but ignored him.
yes, most is obummers fault, no excuses.
http://covert3.wordpress.com
and those 3 wall st ass clowns would be whom?
Bernanke one of them?
"The Committee To Save The World"
<< BTS strikes the gavel against a small wooden object carved in the likeness of Tyler Durden >>
"The The Committee To Save The World will come to order. idog and blunderdog will fetch the minutes of the last meeting. Sit. Good boys" << tastey rewards are provided. >>
I agree, he had a chance to bring in new blood and finally shut the revolving door between the wall street crooks, the treasury and the ivy league academic fuck factories that produces the modern criminal. He choose to go with more of the same times 1,000,000,000.
Ron Paul 2012
I learnt that lesson in 97 with Tony Blair, and haven't voted since.
As for occupy Wall St - any protest is a good protest.
The Yankees are tied with the Red Socks. Top of the ninth. Boston has the bases loaded. No outs. Yankees go to the bull pen. The bat boy is going to be the relief pitcher.
100 trillion bucks down the tubes by the first quarter 2009 and LawsofPhysics wanted new blood.
I guess he never heard of "Damned If You Do and Damned If You Don't."
America, my friend, would look exactly the same if there had been new blood in DC or if John McCain had been elected.
What part of "we're fucked" don't you understand?
He knew things were bad. He promised change. From Senator BO
http://www.youtube.com/watch?v=ONM7148cTyc&feature=youtube_gdata_player
What a bullshit artist. What is so funny is how many people he fucked over that will still vote for him.
RP 2012
That's not the way they do business in Washington, Law. And don't think that Ron Paul, the only honest guy in town, would have made much of a difference.
...the Ivy League, birthing ground of the Modern Criminal... interesting
+2
obama had a wide support to make big, bold changes when he came into office. the fact that he chose to ignore people's demands and cave to pressures from wall street at every turn makes him at least as bad as blankfein in my opinion.
time to give obama the 'kick', his hopes and dreams are collapsing. dr. paul 2012
moynihan told nixon in early 1969 that the vietnam war was "their" war, meaning that it was the responsibility of the other party, but that if nixon didn't get the u.s. out of vietnam quickly, it would become "his" war.
i don't think there was much chance of obama heeding the equivalent of moynihan's advice, transposed to 2009 and applied to the economy. for some decades now, the two parties are controlled from above, as it were, although the republican party is much more direct in advocating what the controllers want. the democratic party in theory represents "common" people rather than elites, but it is thoroughly infiltrated and subverted.
the guys who run things will benefit in many ways from the fact that the democrats, under obama, have failed to do the right things. one of them is that it shows the people that they should not expect the democrats to serve them any better than the republicans do. it keeps the republicans, and the back-and-forth dynamic, viable.
"shows the people that they should not expect the democrats to serve them any better than the republicans...(and)... it keeps the republicans, and the back-and-forth dynamic, viable"
and it works every time.
...you are so right.
And so, on to the bread-and-electronic-circuses election show, damn the torpedoes ahead.
oops, duplication, sorry
Obama is the worse president I remember (70 yrs old). He just talks to the people, and works for the 1%. I love this internet. They can't stop the truth here (yes we get a lot of lies too). I like the queen's question, "Why did no one see this coming"? Ans. Because they did see it, but did not want it to be stopped.
AmCockerSpaniel: I doubt the Queen is suffering much; in fact I'll bet she's done right well.
CIABS,
I call BS.
the democratic party in theory represents "common" people rather than elites,
That's the way they want to be PERCEIVED.
Truth is, they are all about themselves.
They could give a Tinkers damn about any Americans,it's a Poli Speak(for votes).
They are like leeches, sucking off the ignorant, and poor, the real SHEEPLE.
Just like Jesse Jackson, and Al Sharpton.
They have made a career, and a fortune making up stuff to stir the masses, and suck off their penniless teats.
The democrats are all about slavery. They supported it and jim crow, and they'd tax you at 95% if they could only tax those who don't vote democrat. The only way the POS democrats are for the little guy is when he wants more for his labor than its worth, or otherwise wants something for nothing. The government programs they instituted had GOP support when they were targeted _at the poor_ (this is the 2nd social security bill). The evil dependency (soul killing, personality warping, envy breeding) POS democrat party wanted _everyone_ on these programs so they would always be elected. Not because they helped build a strong and able nation, but because they can strike fear into the hearts of millions of dependents. That said, lots of democrats are just fucktards with big hearts.
it was much easier ending the quagmire that was Viet Nam, than it will be turning hummingbird tongues into crude oil.
peak oil 2012
Ron Paul 2012! We'll be going to vote for him tomorrow in DC at the Value Voters Straw Poll.
yeah, baby! DO IT!!!
The author doesn't endorse Christie, just point out he would've been as clueless and beholden to the banksters as 0bama.
His "deflation" argument makes me doubt he's a Ron Paul guy, though his gold and silver comment is 1,000% correct.
RON PAUL 2012!
oh yeah, christie???
LOL
you just lost a whole lotta credibility right there!
Ron Paul 2012. Bring on the revolution, bitchezzz!