Posts Tagged ‘Obamanomics’

Realize That Obama Has ‘Fundamentally Transformed’ America Into A Failed Marxist State. Just Ask Poor People And Liberals

September 9, 2013

Quick test.  Who said this:

“The economy is doing poorly. Everything is expensive. With high taxes, we’re not going to be able to pay rent.”

Wrong, Democrat.  It was NOT Karl Rove or some über right wing nutjob who only said this because he hates Obama (and that because he’s “racist”).  Nope.  It was a 34-year-old Hispanic father named Francisco Zuniga at an SEIU-sponsored protest event.  Who would have thought that out of the mouths of leftist whiners could drool wisdom???

This is the fifth year of the Age of Obama.  It is the fifth freaking year of a failed president whose only talent is blaming others for his massive failures.

Let’s break those words from Zuniga down:

“The economy is doing poorly.”

That is something that literally every single person who is not a demon-possessed liar and hypocrite without shame (i.e. a Democrat) knows as a fact.  Obama promised the world; he has delivered economic manure.

What else does Zuniga say?

“Everything is expensive.”

Well, thanks for noticing that little factoid, Francisco.  I’ve written ad nauseum about the Obama Federal Reserve policies that were necessary to “fund” Obama’s reckless and morally and fiscally insane federal spending.  We’ve had Quantitative Easing, we’ve had QE2, we’ve had Operation Twist, we’ve had QE3, and now we’re at “QE Forever.”  And these policies have basically arbitrarily added zeroes to the money supply computers.  As of March of this year, Obama’s chief Fedthug had added over $2 trillion to the money supply – a beyond insane 240 percent increase.

It’s actually probably a lot more than that “mere” 240 percent increase.  CNN Money says that rather than $2 trillion, it’s actually been at least $2.5 trillion.  And as Democrat Bernie Saunders notes, it’s actually an awful lot more than that, given the AT LEAST $16 trillion in “secret loans” that had taken place under Obama’s Federal Reserve.  I mean, holy hell, where did all this cash come from?  From Never-Never Land, that’s where.

Let me put it this way: when Obama took office from George W. Bush, the Federal Reserve balance sheet was $800 billion; it is now $3,601,523 BILLION under Barack Obama.

In an article I wrote three full years ago:

An increase in the money supply is rather like an overdose of drugs. And in this case the effect of the overdose will be hyperinflation. Basically, the moment we have any kind of genuine recovery, our staggering deficit is going to begin to create an ultimately gigantic inflation rate. Why? Because we have massively artificially increased our money supply beyond our ability to actually produce real wealth, and that means that money will ultimately be devalued. There’s simply no way it can’t be. If simply printing money solved financial problems, the government could just mail everyone several million dollars, and we could all retire. The problem is that more money chasing a limited supply of goods simply pushes up prices higher and higher without doing anything to solve the underlying economic problems. If we have a recovery, with increased economic activity, there will be increased demand on the money supply, forcing an upward climb in interest rates as a means of controlling the currency. And then we’ll begin to seriously pay for Obama’s and the Democrat Party’s sins. Paradoxically, the only thing preventing hyperinflation now is the recession, because people aren’t buying anything and therefore aren’t competing for those limited goods.

THAT is why we haven’t yet experienced truly catastrophic hyperinflation YET.  But the moment we ever actually start to get out of the economic hellhole Obama has dug us into, we will see inflation at levels that will shock and dismay you.  You mark my words.  And what we’ve now learned is that having become hooked on the hardcore narcotic known as QE crack, we can’t get off of it – because if we try the stock market will crash and people will start to panic.

Who is actually going to pay for all that money Obama invented?  I pointed out the sad reality a year ago:

Nobody’s talking about what that massive devaluation of our currency is going to ultimately cost us.  Nobody is talking about the fact that the people who are going to pay the highest tax as a result of this action – and it IS a regressive tax – will be retirees who will see the value of their savings drop even as they look at interest rates and pension funds that pay them nothing.  Retirees are not in a position to snort the crack of quantitative easing; they depend mostly on bonds.  And the Obama administration and the Federal Reserve have decided to stab the bond market  that older investors necessarily depend upon in the heart to artificially inflate the stock market.  Until they have to do it again.  And again.  And of course pretty soon again and again after that.

Commodities like oil and food – which conveniently are being ignored as proof positive that we are already seeing MASSIVE inflation – will continue to go up and up and up (see here and here and here for examples).   The fact of the matter is that prices are rising dramatically and HAVE BEEN rising dramatically, and what just happened today will sure that they CONTINUE to rise dramatically.  And everybody but Obama and the Federal Reserve know it.

And everything I predicted in that article and one I wrote back in 2011 turned out to be right.  Except I used the term “QE 4” and Obama’s economic wizards called it “QE Forever” instead.  And all the way back in 2010 I said it would fail, as it HAS failed.  You need to understand: as I pointed out in May 2011, quantitative easing is the economic equivalent of feeding a diabetic lots of sugar.  It is incredibly unhealthy and will ultimately kill the patient, but once you start feeding that sugar you can’t stop or the patient will crash and die for sure, just as Wall Street will crash and die if Obama stops giving them free sugar candy money.

Let me add another group of people to retirees I described above, Francisco: THE POOR.  Because most of the poor are on fixed incomes every bit as much as retirees are.  And their low wages, their welfare and their food stamps just aint going to keep up with the inflation that has resulted from printing money.  When you print money out of thin air, and you’ve got trillions more dollars chasing the same amount of finite resources, the value of those dollars goes down, down, DOWN.

It turns out that “free money” isn’t really so damn free, after all.

Commodities such as food and fuel are skyrocketing – especially gas as Obama’s failed Middle East policy rears its ugly head in Syria (although, mind you, Obama’s gas prices have been shockingly high all along) – and so, yeah, Francisco, “everything is getting more expensive.”

We’re to the point where we will soon be spending more money in interest to service our psychotic debt than we will on anything else.  By the next decade – and keep in mind we’re nearly half way there NOW – we will be spending the equivalent of the 2009 $862 billion Obama stimulus EVERY SINGLE YEAR.  Only those payments will be going to China while they mockingly laugh at our stupidity that made us their debt slaves.

You aint seen nothing yet, Francisco.  Thanks to Obama, your hell is going to get a lot more hellish.

What else did Francisco tell us?  He told us that Obama’s economy was crappy and thanks to Obama’s moral and fiscal idiocy, everything was more expensive now due to inflation.  What else did he say?

“With high taxes, we’re not going to be able to pay rent.”

I don’t need to point out which party and which failed president of which damn party is behind all those taxes, of course.

Let’s try to put this in terms that Francisco will understand if he doesn’t already: who owns your house you’re paying that rent on?  And what do you think happens when liberal demagogues “tax the rich”???  Here’s what will happen: when Obama and Democrats viciously tax “the rich” who own that house you rent, what’s that high-taxed owner going to do?  He’s going to raise your damn rent, THAT’S what he’s going to do.  And if you don’t like paying more in rent, you’d better show up with a huge mob of likeminded enraged sufferers with pitchforks and torches to drive Obama out of Washington before he creates another monster and kills again.

But you won’t, will you?

I want you to consider something about Obama’s “housing recovery” within Obama’s “economic recovery.”  They’re both radically and wildly FAILED.  I want you to consider, Mr. Zuniga, the ramifications of the fact that SIXTY PERCENT OF HOMES SOLD IN 2013 WENT TO CASH BUYERS.  Before I point out what that means, let me first point out how connected it is with the radically failed Obama Fed policies that have kept the money printing presses going night and day and day and night:

USA: 60 percent of homes sold in 2013 went to all cash buyers
Posted on August 16, 2013 by Stacy Herbert

Stacy Summary: This is what interest rate apartheid looks like.

USA:  60 percent of homes sold in 2013 went to all cash buyers

There was an odd sort of myth floating around the market that the cash buyer  crowd was somehow a tiny portion of the market, like a drop of water in the vast  ocean of home buying.  This delusional dream played into the fantasy that this  housing market was naturally rising because of overall household demand when in  reality, it is being driven by investors leveraging the artificial low rates  created by the Fed.  The flood of money from Wall Street has been large.  Even  anecdotally, it was apparent that cash buyers were driving the market given that  housing is a margin driven market.  That is, at any given time only a small  portion of all homes are on the market for sale.  However, an analysis by  non-other than Goldman Sachs shows that 60 percent of all 2013 home sales are  being driven by cash buyers.  That is, the middle class is largely being pushed  out of this game and has become the minority in this real estate market.

You see, Mr. Zuniga, these rich people are taking advantage of the crony capitalism (fascism) of Obama that has helped the elite investor class at the expense of the poor.  They’re snapping up the homes that YOU’RE going to rent.  And then they’re socking you with higher and higher rents.  Meanwhile, you’ve got virtually no change to ever own a home thanks to Obama.  The American dream is dead meat.  And did I mention this is the FIFTH year of the Age of Obama???  But it’s all Bush’s fault, much the way in the Big Brother society of 1984 it was all “Emmanuel Goldstein’s” fault.

Meanwhile, Mr. Zuniga, it’s getting harder and harder for you to even GET a job in Obama’s wildly failed economy.  The jobless rate just went down to 7.4%.  Hip-hip-hooray.  Only it did so as still MORE of the decimated American working class were destroyed into hopelessness at EVER finding a job.

There is an incredibly significant labor measure called the “labor participation rate.”  It is the percentage of working-age Americans who actually have a damn JOB.

There’s an article I wrote a little over a year ago that you ought to consider.  I detailed then the catastrophic plunge in the rate of Americans who actually have a job in the miserably failed Obama economy during and throughout the Obama regime.  At that time, it was the worst it had been in thirty years.  And I noted how each year under Obama’s failed Marxist State, it had just gotten worse and worse.  As an example, I recorded that in November 2010 – and note this AFTER the so-called “recovery” – the labor participation rate was the worst it had been in 25 years.  Which is to say far, FAR worse than anything Bush had ever done, you Democrat ideologues.  The next year, by August 2011, it was the worst in 27 years.  And by May of 2012, it was the worst due to Obama in 31 years.

Here we are, a year or so later, and how have things gone?  Just as I told you they would go under this failed president’s failed leadership and failed ideology: the labor participation rate is now the worst in 35 years.

And the reliably überliberal Los Angeles Times was forced to acknowledge it in these terms:

Although the unemployment rate ticked down to 7.3% last month — the lowest level since December 2008 — it fell largely for the wrong reason. More discouraged Americans gave up looking for work as the percentage of the population in the labor force dropped for the third consecutive month to its worst point in 35 years.

The unemployment rate has been dropping – which has been as good for Obama politically as it has been catastrophic for the rest of America economically.  I predicted a year and a half ago:

At the rate we’re going in Obama’s God damn America, we will have zero percent unemployment and nobody will actually have a damn job.

And, yep, that’s the way we’re headed.

Democrats are demon-possessed bureaucrats.  That’s where they get their name from.  They claim that the labor participation rate is falling as older baby boomers retire.  But that is a LIE FROM HELL.  As an example, it is YOUNG ADULTS who are suffering the most due to Obamanomics.  People cannot find a job who need to work.

And because of ObamaCare, full-time jobs have been “fundamentally transformed” by Obama into part-time jobs with no health benefits.

And if you don’t believe me, again, just ask liberals.  A letter signed by the heads of the Teamsters, the UFCW and UNITE-HERE have this to say about Obama’s impact on workers and the hours they get to work:

When you and the President sought our support for the Affordable Care Act (ACA), you pledged that if we liked the health plans we have now, we could keep them.  Sadly, that promise is under threat. Right now, unless you and the Obama Administration enact an equitable fix, the ACA will shatter not only our hard-earned health benefits, but destroy the foundation of the 40 hour work week that is the backbone of the American middle class.

The letter from these liberal unions points out the obvious fact that Democrats refuse to acknowledge about their demonic ObamaCare takeover of healthcare:

First, the law creates an incentive for employers to keep employees’ work hours below 30 hours a week. Numerous employers have begun to cut workers’ hours to avoid this obligation, and many of them are doing so openly. The impact is two-fold: fewer hours means less pay while also losing our current health benefits.

Second, millions of Americans are covered by non-profit health insurance plans like the ones in which most of our members participate. These non-profit plans are governed jointly by unions and companies under
the Taft-Hartley Act. Our health plans have been built over decades by working men and women. Under the ACA as interpreted by the Administration, our employees will treated differently and not be eligible for subsidies afforded other citizens. As such, many employees will be relegated to second-class status and shut out of the help the law offers to for-profit insurance plans.

And finally, even though non-profit plans like ours won’t receive the same subsidies as for-profit plans, they’ll be taxed to pay for those subsidies. Taken together, these restrictions will make non-profit plans like ours
unsustainable, and will undermine the health-care market of viable alternatives to the big health insurance companies.

You want to know who is killing your dreams, Mr. Zuniga?  Democrats.

But you keep voting for them anyway, because you prefer lies and more socialism and more welfare and then more lies and still more socialism and still more welfare, to the truth that would set you free if you were willing to finally act like a man and be determined to stand up on your own two feet and demand an economic system that enables you to do that.

You’re siding with the wrong people, the wrong party, the wrong political philosophy.  You’re siding with the people who keep HURTING you.  As you’d understand if you stopped and thought about your own words.

You’re one of those people who still idiotically believes that when Obama “gives” you “free stuff,” it’s actually FREE.  Let me pop your bubble, Francisco: when ObamaCare taxes insurance companies, taxes drugs, taxes medical devices, and mandates (that means forces) the health industry to pay for all of these “free” benefits such as free birth control and 26-year-olds staying on mom and dad’s health plan, the cost of medical care rises FOR EVERYBODY.  And at the same time the quality of health care goes up for EVERYBODY.

And that has had the result that people are getting kicked off health plans rather than all the lies Obama promised.

You don’t understand that everything you and your Democrats want to do – such as force businesses to raise the minimum wage whether they can afford to do so or not, whether they will cut their work forces or not, whether they will be forced to raise prices (which will reduce demand and thus reduce jobs) on poor people who buy from them or not – undermines the economy and hurts the very poor people Democrats dishonestly claim to be trying to help.  Back in 2009, I predicted that Obamanomics with its totalitarian dictate on employers to pay higher wages would be a holocaust for minimum wage workers.  And I was right.  And I just keep being more and more right as Obama’s devastating and disastrous impact on the economy spreads like the cancer that it is.

In order for the economy to create jobs, and create enough jobs to get America out of the hellhole Obama put it in, the government needs to step off employers’ throats.  Quit forcing them to do stuff they can’t afford to do and cover stuff they can’t afford to cover.  Cut their taxes so they have an actual INCENTIVE to create jobs.  And for that matter cut the damn welfare incentive so that working-age adults who ought to be ashamed of themselves if they were capable of that virtue have an actual incentive to start working.

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Obamanomics Has Been Terrible For Poor – But The Rich Have Done GREAT Under His Despicable Policies

June 3, 2013

And I heard a voice from among the four living beings say, “A loaf of wheat bread or three loaves of barley will cost a day’s pay. And don’t waste the olive oil and wine.” — Revelation 6:6

According to Democrats, it is the Republicans who only care about the rich.  And of course it is Republican policies that are disastrous for the poor and the middle class.

Of course, Democrats are liars without shame, without honor, without integrity and without decency.  So you can pretty much roundfile their bullcrap.  The facts prove the exact OPPOSITE.

What you find is that, after five years of Obama, we’ve gained less than half the wealth that was lost since 2007 (after Democrats blew up the economy and demagogued their sabotage).  And what you find is of that 45% of wealth that was regained (let’s just forget the 55% of the wealth that Obama lost for America), fully two-thirds of it was recouped by the stock market.  And what you find is that 80% of the stock market is owned by one-percenters.

Obama and his godawful Obamanomics crushed the poor into tiny bits of meat and spoon-fed that meat to über-rich like George Soros and Warren Buffet.

Average U.S. household has regained just 45% of wealth lost during recession, St. Louis Fed analysis finds
The Associated Press
Published: 31 May 2013 01:22 AM
Updated: 31 May 2013 01:22 AM

WASHINGTON — American households have rebuilt less than half of the wealth lost during the recession, leaving them without the spending power to fuel a robust economic recovery, according to a new analysis from the Federal Reserve.

From the peak of the boom to the bottom of the bust, households watched $16 trillion in wealth disappear amid sinking stock prices and the rubble of the real estate market. Since then, Americans have been able to recapture only 45 percent of that amount on average, after adjusting for inflation and population growth, according to the St. Louis Fed report, released Thursday.

A separate Federal Reserve report in March calculated that Americans as a whole had regained 91 percent of their losses.

Household wealth plunged $16 trillion from the third quarter of 2007 through the first quarter of 2009. By the final three months of 2012, American households as a group had regained $14.7 trillion.

Yet once those figures are adjusted for inflation and averaged across the U.S. population, the picture doesn’t look so bright: The average household has recovered only 45 percent of its wealth, the St. Louis Fed concluded. That suggests that consumer spending could remain modest as many Americans try to rebuild their wealth by saving more and paying off debts.

The number of U.S. households grew by 3.8 million to 115 million from the third quarter of 2007 through the final three months of last year, the report said.

As a result, the rebound in wealth has been spread across more people, reducing the average for each household.

In addition, though inflation has averaged just 2 percent over the past five years, it has eroded some of the purchasing power of Americans’ regained wealth.

The report showed most of the improvement was due to stock market gains, which primarily benefit wealthy families. That means the recovery for other households has been even weaker

“A conclusion that the financial damage of the crisis and recession largely has been repaired is not justified,” the report stated.

Fragile households

The study is part of a growing body of research on the role of household wealth — or its lack — in amplifying the impact of the recession and slowing the recovery. Traditionally, economists and policymakers have focused on the effects of employment and income. But the report from the St. Louis Fed argued that swings in household balance sheets — which include home values, stock prices, savings and debt — were critical in determining which families weathered the financial storm and which got swept away.

The report found that the most fragile households were less educated, relatively young, black or Hispanic, or some combination of those characteristics. Those families tended to have low savings combined with high debt and accrued much of their wealth through housing.

How those households respond to the changes in wealth is a critical component of the recovery. Top officials, including Fed Chairman Ben Bernanke, have pointed to the rebound in real estate and the soaring stock market as evidence of the success of the central bank’s policies.

The Fed is spending $85 billion a month to lower long-term interest rates and stimulate the economy. It has also kept short-term interest rates near zero. That has helped push stock markets to record highs, while home prices have jumped by the most in seven years. Consumer confidence is at its highest point since February 2008. Officials hope those factors will eventually result in more consumer spending power.

“I think we’re at an inflection point,” said Beth Ann Bovino, senior economist at Standard & Poor’s. “We’re seeing things turn around. And that’s where the optimism comes in among households.”

The fear factor

But research by noted economists Karl Case, John Quigley and Robert Shiller found the households were more powerfully affected by declines in wealth than increases.

An unexpected 1 percent drop in housing prices caused a permanent 0.1 percent decrease in spending, that study found.

But a similar 1 percent rise in housing prices boosted consumer spending by only 0.03 percent.

“Rising wealth is gratifying, but the loss of wealth is terrifying,” said Mark Zandi, chief economist at Moodys.com. “Households spend somewhat more freely as their nest eggs grow, but they slash their spending when their nest eggs shrink.”

William Emmons, chief economist at the St. Louis Fed’s new Center for Household Financial Stability, said that many of the most vulnerable households began to treat credit as another form of income during the boom. After the bust, they were forced to dramatically rethink their finances, resulting in more cautious spending.

Emmons said many families have not experienced any recovery — or are even still losing wealth. Young Americans, those with few skills or the unemployed may not have been able to rebuild any wealth.

Emmons noted that although the number of foreclosures has dropped significantly, it is still more than double the pre-crisis amount.

Meanwhile, he estimated that recent gains in the stock market mean the recovery of wealth is nearly complete for white and Asian households and older Americans.

Wealth accumulation affects not only families’ current financial status but also their prospects. The St. Louis Fed report points to studies that connect savings to the likelihood of attending and completing college and to economic mobility.

The average household had a net worth of $539,500 at the end of last year, according to a separate paper the St. Louis Fed released Thursday. That was up from $469,900 in the first quarter of 2009 but sharply below the peak of $641,000 in the first quarter of 2007.

The Washington Post, The Associated Press

The overwhelming evidence of history reveals that every single time America has suffered a serious recession, it has exploded out of it at a rate that equaled the descent into said recession.  The difference now is that Barack Obama has been undermining and outright destroying the American economy and the entire American way of life.

Economically, Obama has been THE WORST PRESIDENT EVER.

And so what has happened?  Obama has actually INCREASED the gulf between the rich and the poor, increased the gulf between blacks and whites and basically has made life harder and more difficult with fewer opportunities for all the very groups of people that Obama falsely promised he cared about and would help.

Democrats are dishonest.  They are liars.  They say one thing and then they do the exact opposite time and time again.  They don’t give a flying DAMN about the poor or the middle class; they want more government power.  They want to be able to decide – I’ll use the word “dictate” – who wins and who loses, who gets rewarded and who gets punished, who gets taxed and who gets exemptions, who gets a free ride and who pays out the wazoo, and even who lives and who dies as the same biased Obama IRS that targeted and punished conservative political and religious groups will begin doing the same thing as they sharpen their knives to cut into their role in the ObamaCare holocaust.

You can’t borrow and spend your way out of bankruptcy.  You just can’t.  You can’t keep printing money when you’re broke and never find yourself standing on the cliff that just fell away leaving you standing with your feet firmly planted in midair.  You just can’t.  You can’t allow the Democrats to keep parasitically taxing the producers to redistribute wealth to the slackers in exchange for their vote and not see a radical decline in America.  You just can’t.

Friday will be an interesting day.  That is the day that the job numbers come out for the month of May.  Here’s what’s funny: if we have a good report and hear that the job market is opening up, the stock market will plunge.  Why?  Because the rich people who populate the stock market want to keep sucking on the Obama tit of endless Federal Reserve “stimulus” via quantitative easing, QE1, QE2, QE3, Operation Twist and now QE Forever.  The Fed has indicated that if the economy is performing better that they will begin to look to get out of the massive purchase of American debt (where we literally create more money by adding zeroes to the Fed computers).  That candy is ONLY available to the rich, and the poor be damned as their small fixed incomes become worth less and less as the mega-poor interest rates creates severe devaluation of the dollars they are desperately trying to save.  As for the big businesses and the mega-rich who invest in those businesses, they want to continue receiving Obama’s “stimulus” in the form of super-low interest loans (that none of the rest of us can ever hope to get) that will allow them to keep making more and more and more money.

It’s right out of the economy that the Book of Revelation talks about.  And it’s OBAMA’s economy.

With QE3 Federal Reserve And Obama Administration Fully Qualify For Definition Of Insanity (Doing SAME Thing Over And Over And Expecting Different Results)

September 14, 2012

Things aren’t getting better.  Obama told you a lie.  Democrats have been telling you lies.  I (and other conservatives) have accurately and reliably told AND PREDICTED the truth from the get-go.  As I will document in this article.

First of all, the QE3 that was launched today is an open recognition of the failure of the Obama administration by the Federal Reserve.

The initial title of this article – as you can see by examining the link itself – was “GOLDMAN: Bad Jobs Report Puts Odds Of QE Next Week Above 50%.”

GOLDMAN: It Looks Like QE Is Coming Next Week
Joe Weisenthal|Sep. 7, 2012, 8:47 AM

Quick blast outta Goldman.

BOTTOM LINE: With today’s August employment report showing a nonfarm payroll gain of 96,000 and an unemployment rate of 8.1% because of a drop in the participation rate, we expect a return to unsterilized and probably open-ended asset purchases at the September 12-13 FOMC meeting.

MAIN POINTS:

1. We now anticipate that the FOMC will announce a return to unsterilized asset purchases (QE3), mainly agency mortgage-backed securities but potentially including Treasury securities, at its September 12-13 FOMC meeting. We previously forecasted QE3 in December or early 2013. We continue to expect a lengthening of the FOMC’s forward guidance for the first hike in the funds rate from “late 2014” to mid-2015 or beyond.

So this isn’t a “good thing.”  This is a bad thing.  The 200 point increase in the stock market is a temporary blip and ultimately only the institutional investors who can move money around in microseconds will be able to benefit from it.

Here’s another article I wrote back in August that cites proof that the QE3 that we just saw Friday is the result of the Obamanomics disasterThe Fed simply didn’t launch QE3 because Obama’s economic policies are working; they did it because Obamanomics has utterly failed.

Second, let’s look at the “success” of quantitative easing:

Here’s more on that from an article I wrote back in August 2011.  Notice that I predicted with complete accuracy that QE2 would fail and that we would be at precisely the point where we are now trying a THIRD round of quantitative easing.

And this isn’t really even “QE3”; it’s really “QE4.”  Because Operation Twist basically WAS QE3.  It was certainly at the very least a “primer” for QE3.  I’m hardly the only one to say that, as it’s rather easy to show.  Just how many times do we have to keep trying this???

As long as Wall Street keeps getting its massive doses of sugar (really more like crack cocaine) from the government, it keeps feeding and feeding from the massively-government-subisidized feeding trough.

Look at the chart above and answer this question: if I were a drug addict pursuing doses of crack, how would a graph of my behavior look different?  I’d have my hit (QE1) and then crash; then I’d take another hit (QE2) and then crash; so I’d need another hit (QE3).  And then another one, ad infinitum.  That is the nature of destructive addictive behavior; and the addict either changes or he dies.  We’ll see in November if we’re ready to change or if we want to keep pursuing economic crack until we collapse and die as a nation.

How many times do you keep doing the same thing?  Now that we are at “QE3,” how is this not the classic definition of insanity???

What do you think the odds are that the market is going to tank again just like it did the first two times in anticipation of a QE4????  And you need to realize that a vote for Obama IS a vote for QE4.  And QE5.  And we’ll be a banana republic before Obama’s Fed would have a chance to do a QE6.

Not counting QE3 today, the Federal Reserve has pumped (or dumped) more than $2.3 trillion in money that it invented by adding zeros to their computer under Obama.

Let me ask you a question?  Where did that $2.3 trillion go?  Are you richer???

You sure aren’t.  In fact, even if you blame the ENTIRE recession on Bush (as liberals invariably do), Obama has still been very nearly TWICE as disastrous for household incomes in his “recovery” than you can blame Bush for during “his” recession.  You’re being lied to every single day.

When George Bush left office, a senior citizen with $300,000 in bonds – basically a fairly average retirement nestegg – could collect $1,500 a month in interest.  Which was enough for them to live on and be able to have the principal for emergencies and hopefully be able to leave that principal to their children.  But Obama and Bernanke have obliterated that; now that same $300,000 is producing only $200 a month in interest.  Which is very obviously nowhere NEAR enough to live on.  And so senior citizens are eating away at that nestegg that they counted on at a very alarming rate.  Obama and his failed policies have screwed these people – and the mainstream media will NOT talk about it.

Now the Fed balance sheet is going to be over $3 trillion.  And you can add to that shocking tally another $40 billion every single month for the foreseeable future.  Before Obama took office, it was $800 billion.  Nobody’s talking about what that massive devaluation of our currency is going to ultimately cost us.  Nobody is talking about the fact that the people who are going to pay the highest tax as a result of this action – and it IS a regressive tax – will be retirees who will see the value of their savings drop even as they look at interest rates and pension funds that pay them nothing.  Retirees are not in a position to snort the crack of quantitative easing; they depend mostly on bonds.  And the Obama administration and the Federal Reserve have decided to stab the bond market  that older investors necessarily depend upon in the heart to artificially inflate the stock market.  Until they have to do it again.  And again.  And of course pretty soon again and again after that.

Commodities like oil and food – which conveniently are being ignored as proof positive that we are already seeing MASSIVE inflation – will continue to go up and up and up (see here and here and here for examples).   The fact of the matter is that prices are rising dramatically and HAVE BEEN rising dramatically, and what just happened today will sure that they CONTINUE to rise dramatically.  And everybody but Obama and the Federal Reserve know it.

I put it in biblical terms here.  And I pointed out:

The only thing propping up the economy under Obama’s morally and fiscally idiotic policies is QE2. Banks and major businesses are not being allowed to fail (it’s all too big too fail in an increasingly fascist system in which the government dominates the banking and corporate spheres). Right now, the system Obama has only made more broken is being kept afloat in cash being created out of thin air. The last time quantitative easing ended, the DOW immediately lost 16% of its value in two weeks. And QE2 is set to end in June.

This means QE3, and then of course QE4. Because “QE” means “Quack Economics” far more than it should mean anything else.

I also pointed out that this would fail way back in 2010.  And I pointed out that all the Federal Reserve is doing is monetizing Obama’s damn insane deficits.

But the real inflation monster is still yet to come.

Back in May of last year I wrote this:

QE2 is the economic equivalent of sugar in nutrition. Will it provide quick energy? Sure it will. Will that quick energy come at the expense of future health? You bet it will.

Right now, as a result of the Obama Federal Reserve’s policy of increasing the monetary supply by buying debt from itself (literally creating money out of thin air), there is more economic activity. Right now, as a result of this policy, credit rates are lower. Fewer banks and corporations are going under because of the ready access to cheap money. Investors see the stability and invest.

We should all feed our children tons of sugar, so we can enjoy the short term bonanza of frenetic activity.

Unless you worry about all the cavities, the weight gains, the diabetes, and of course that huge depressing crash with all of those catastrophic health consequences that necessarily come later.

The first time we ended QE1, the stock market lost 16% of its value in two weeks. Which is to say it didn’t work the first time for the same reason it won’t work this second time. Or a necessary third time, etcetera.

One of the more sinister effects of quantitative easing is that it essentially becomes a tax on saving. You were busy at work putting away as much as you could during a period when your money was worth more. But now, as a result of artificially increasing the money supply, all that money you accumulated in saving is worth less. Why is this? Because you can increase the money supply all you want, but you’ve still got the same finite amount of goods and services. And when you’ve got twice as many dollars in the money supply as you had before, over time those same goods and services will cost twice as much as before, and so on.

Right now, prices are going up dramatically on virtually everything that matters. And yet the only ones who refuse to admit it are the federal government and its staunchest mainstream media propagandists who think and report what the Obama regime wants them to think and report.

In another article I wrote over two full years ago:

An increase in the money supply is rather like an overdose of drugs. And in this case the effect of the overdose will be hyperinflation. Basically, the moment we have any kind of genuine recovery, our staggering deficit is going to begin to create an ultimately gigantic inflation rate. Why? Because we have massively artificially increased our money supply beyond our ability to actually produce real wealth, and that means that money will ultimately be devalued. There’s simply no way it can’t be. If simply printing money solved financial problems, the government could just mail everyone several million dollars, and we could all retire. The problem is that more money chasing a limited supply of goods simply pushes up prices higher and higher without doing anything to solve the underlying economic problems. If we have a recovery, with increased economic activity, there will be increased demand on the money supply, forcing an upward climb in interest rates as a means of controlling the currency. And then we’ll begin to seriously pay for Obama’s and the Democrat Party’s sins. Paradoxically, the only thing preventing hyperinflation now is the recession, because people aren’t buying anything and therefore aren’t competing for those limited goods.

THAT is why we haven’t yet experienced truly catastrophic inflation YET.  But the moment we ever actually start to get out of the economic hellhole Obama has dug us into, we will see inflation at levels that will shock and dismay you.  You mark my words.

Now that we are officially at QE3, I want you to watch this video to see what necessarily awaits you:

Get ready, because the American economy WILL be going on a scary ride:

Debtors’ Prison Back And Just As Cruel As EVER In Obama’s God Damn America

September 1, 2012

First Obama gave one-sixth of all Americans poverty.  Then he gutted their median household income.  Then he gave them prison for not being able to pay their debts:

Debtors’ Prison Is Back — and Just as Cruel as Ever
By Ross Kenneth Urken
Posted 12:25PM 08/30/12

To most of us, “debtors’ prison” sounds like an archaic institution, something straight out of a Dickens novel. But the idea of jailing people who can’t pay what they owe is alive and well in 21st-century America.

According to a report in The Wall Street Journal, debt collectors in Missouri, Illinois, Alabama and other states are using a legal loophole to justify jailing poor citizens who legitimately cannot pay their debts.

Here’s how clever payday lenders work the system in Missouri — where, it should be noted, jailing someone for unpaid debts is illegal under the state constitution.

First, explains St. Louis Post-Dispatch, the creditor gets a judgment in civil court that a debtor hasn’t paid a sum that he owes. Then, the debtor is summoned to court for an “examination”: a review of their financial assets.

If the debtor fails to show up for the examination — as often happens in such cases — the creditor can ask for a “body attachment” — essentially, a warrant for the debtor’s arrest. At that point, the police can haul the debtor in and jail them until there’s a court hearing, or until they pay the bond. No coincidence, the bond is usually set at the amount of the original debt. As the Dispatch notes:

“Debtors are sometimes summoned to court repeatedly, increasing chances that they’ll miss a date and be arrested. Critics note that judges often set the debtor’s release bond at the amount of the debt and turn the bond money over to the creditor — essentially turning publicly financed police and court employees into private debt collectors for predatory lenders.”

Standing Up for Those Who Can’t Pay

The practice — in addition to putting an additional squeeze on poor people — turns courts and police into enforcers for private creditors, from payday lenders to health care providers. The situation prompted Illinois legislators in July to pass a bill “to protect vulnerable consumers from being hauled to jail over unpaid debts,” in the words of state Attorney General Lisa Madigan. The Debtors’ Rights Act of 2012 requires two “pay or appear” court notices to be sent to debtors before an arrest can be made, and also prevents creditors from calling for multiple examinations unless the debtor’s financial state has significantly changed.

Many of the victims, Madigan noted at the time, were living on funds that are legally protected from being used for outstanding debt judgments, such as Social Security, unemployment insurance or veterans’ benefits. In one case she cited, an Illinois court brought a “pay or appear” order against a mentally disabled man living on legally protected disability benefits of $690 a month. The man told the court of his circumstances but was still ordered to pay $100 a month or appear in court once a month for a three-year period.

“It is outrageous to think in this day and age that creditors are manipulating the courts, even threatening jail time, to extract whatever they could from people who could least afford to pay,” Madigan said. “This law corrects that gross oversight and puts a stop to throwing people in jail for being poor while still allowing fair debt collection when people have the means to pay their debts.”

Illinois notwithstanding, the modern-day debtors’ prison probably isn’t going away anytime soon given the current economic climate: More than a third of U.S. states allow borrowers who can’t or won’t pay their debts to be jailed.

Obama’s going to give his next speech (you know, another version of “I’ll lower the level of the oceans and heal the planet if you re-elect me”) speech that will be fearmongering the terrible things that will happen if Romney is elected.  But the terrible things are happening under HIS presidency.

Obama won.  God damn America until Obama is gone.

2008 Hopey Changey Obama Voter Interviews Her Future Crushed-By-Reality Self In 2012 – This One Is Great

August 2, 2012

Don’t fall for “Hope-nosis” again:

Government Creates Jobs? Michigan State Program Gives $1.65 Million Grant That Creates Zero Jobs And Then Goes Bankrupt

August 2, 2012

Please, o mighty Lucifer; give us four more years of Obama so we can collapse the Great Satan America even faster than anyone could have ever have possibly dreamed when the hated pro-Zionist Reagan was president and creating 10 percent economic growth!

State Gives Company $1.65 Million, Creates Zero Jobs and Goes Out of Business
Investment fund designed for ‘creation of new businesses or industries’
By Matthew Needham and Jarrett Skorup | July 27, 2012

The state of Michigan gave one company $1.65 million, with which zero jobs were created or retained after the business went bankrupt.

This is one of several instances where projections fell short for a state fund designed to support select businesses.

The money was given through the Michigan Strategic Fund, a state program that administers the 21st Century Investments program “to strengthen and diversify Michigan’s economy by investing in venture capital, private equity, and mezzanine funds as a method to create jobs and provide financial assistance for the creation of new businesses or industries.”

To date, the direct investment category consists of a single direct investment worth $1.65 million made in Microposite Inc., which was supposed to produce “environmentally friendly” siding products. The state received $55,373 from the investment before Microposite terminated its entire staff on June 30, 2009, and went out of business. The company also received other state support.

The 21st Century Jobs Fund progress report states that zero jobs were created or retained from the $1.65 million investment in Microposite.

“This is redistribution of wealth from the average taxpaying citizen to a privileged few,” said Arnold Kling, an adjunct scholar with the Cato Institute and an economist formerly on the staff of the Board of Governors with the Federal Reserve system.

Kling has written extensively on what he calls “expert failure.”

“The experience from the 50 states is that when government attempts to compete by picking winners and losers, it usually means the state is failing in terms of overall competitiveness,” said Jonathan Williams, director of tax and fiscal policy at the American Legislative Exchange Council. “Additionally, government officials open themselves to charges of cronyism and corruption when they engage in economic micromanagement.”

“The best approach is when states work to create a competitive environment for all.”

These investments were made as part of 21st Century Investments, a program of the 21st Century Jobs Trust Fund. In total, the state committed over $100 million toward investments that have yielded a little more than $1 million in proceeds and created or retained just 267 jobs.

According to the progress report from Sept. 30, 2011, the program had spent $47 million.

The program was created by the 21st Century Fund Act of 2005, which was sponsored by former State Rep. Bill Huizenga, R-Zeeland. Huizenga is now in Congress.

The 21st Century Investments program is a joint collaboration between the Michigan Strategic Fund and Credit Suisse. The Credit Suisse Customized Fund Investment Group manages the investment funds.

The 21st Century Investments program is comprised of four categories. The categories are venture capital investments, private equity investments, mezzanine investments, and direct investments.

The state has committed nearly $60 million toward venture capital investments. All investments made in venture capital are required by law to be focused on “competitive edge technologies.” This restriction does not apply to the other categories.

Despite zero reported spending on the private equity program, three jobs were reported to have been created or retained from the private equity program.

In 2010, an analysis of the program by the Detroit Free Press found that the 21st Century Jobs Fund returned only one-third of the projected jobs. At the time, Ned Staebler, a vice president at the Michigan Economic Development Corp., predicted that “the loans and investments will end up making money for the state in the long run.”

The Michigan legislature expanded the 21st Century Jobs Fund in 2011. The bill to do so was passed nearly unanimously 36-0 in the Senate and 104-5 in the House.

Representatives from the Michigan Economic Development Corp. and Credit Suisse did not respond to requests for comment about the status of the 21st Century Investments program.

~~~~~

See also:

A Bipartisan Disaster: Michigan ‘Corporate Welfare’ Program Rolls On

The State as Venture Capitalist: Michigan Fund Loaned $7.7 Million, Creates Only 20 Percent of Promised Jobs

‘Green’ Company Awarded Up to $120 Million Promised 70 Jobs — Creates Just Three Jobs in Three Years

State Program Awards $67 Million, Creates One-Third of Projected Jobs

Corporate Subsidy Program Lives On Despite Lackluster Results

Select Tax Breaks for State ‘Renaissance Zones’ Program Returns One-Fifth of Predicted Jobs

Michigan Government Program Gives $30 Million to Seven Universities, Creates Less Than Half of Projected Jobs

This is the entire Obama economic policy in one failed microcosm.  Government takes money from the increasingly few taxpayers who are successful and redistributes it to crony capitalist boondoggles like Solyndra that piss it away and then go bankrupt.  And then the obvious answer is to just keep doing the same insane thing over and over until we implode.

Let’s just file that under yet another proof that “If you’ve got a business, you didn’t build that” is a complete load of crap.

Are You Paying Your Bills Like A Sucker In A World Of Obamanomics?

October 21, 2010

Are you a sucker?

If you’ve actually been working hard to pay your own bills, you sure are.

Imagine two houses, the same square footage, built by the same developer, right next door to one another.   You bought your house two years ago the same month as your neighbor, with both homes closing at about the same price.

You’re working two jobs to pay your bills, and you literally envy the rats in the rat maze, who not only eventually get to the end of the maze, but actually get a tasty treat, too.  When all you do is work.  And then work some more.

You wonder how your neighbor – who doesn’t seem to be working anywhere near as hard as you – manages to make ends meet.

And then you find out that you’re paying nearly three times more for your mortgage at nearly three times the interest rate.  Why?  Because you work hard, pay your debts and play by the rules – like a sucker.

“People are able to come here, and in the same day, restructure their mortgages saving $500, sometimes over $1,000 a month,” says NACA’s charismatic leader, Bruce Marks.

We saw another homeowner, Althena Peet, actually embrace her lending counselor, tears streaming down her face. “My monthly payments were $1,888 per month, and its down now to $687.64. That’s with 2 percent interest. I just can’t believe it,” Peet exclaimed.

While Althena gets a great deal, another homeowner with the exact same mortgage who paid his bills would be shelling out that $1,888 a month, leaving some to question whether such foreclosure rescues are fair, or wise.

Among those with concerns is professor Paul Habibi with UCLA’s Anderson School of Management. “It’s not fair,” he says. “It penalizes those who play by the rules, and those who are in dire need and may have not played by the rules and got into mortgages they can’t afford, are now able to get some help. It’s kind of the old adage of taxing success and subsidizing losses. We are seeing that prevail in the housing market.”

Habibi argues that, while well-intentioned, such foreclosure rescue programs could have unintended consequences. “It creates a moral hazard, and that is basically the premise that people would behave differently if they knew that they had a parachute saving them than if they didn’t.

“And in this case, those who do play by the rules, and are paying their mortgages continuously are suffering in a sense, relative to those of their peers that are being helped out.”

You’re working two jobs to make ends meet and pay your bills.  That used to be the right thing to do.

But not in Obamanomics.  Now, working hard and paying your contracted debts is the stupidest thing you can possibly do.

The moral of the story in Obama’s America is DON’T PAY YOUR BILLS.  Because only suckers pay their bills these days.

The right thing to do under Obamanomics is to quit one of those two jobs, and then qualify for a sweetheart deal; one in which you don’t have to pay what you promised on a contract you would pay.  Just don’t watch Fox News while you’re sitting on your ass in front of the boob tube, is all Democrats ask.

It’s a great way to go, until America collapses under socialism.

But then again, only suckers care about stuff like that.

‘Transparency’ In Action: Obama Blocks Media To Conceal Failures

July 8, 2010

Let’s see.  Hope?  No freaking way.  Change?  Yes, but it’s really, really BAD change.  Even die hard and hard-core liberals like Robert Reich and Paul Krugman are predicting that Obamanomics are leading us into a double-dip recession IF we’re lucky enough to avoid a depression. Transparency?

Ooh, boy.

Afghan violence is soaring.  Obama’s own handpicked general is saying that the president is overwhelmed and unprepared, and that his civilian leadership team is a bunch of incompetent clowns.  All the evidence indicates that Obama is massively failing in Iraq.

What should he do?

Well, he should do the same thing in Afghanistan that he’s going to do about all his calamitous failures in the Gulf of Mexico.

He’s going to make sure that the media doesn’t have a chance to report the truth about what a failure he is at everything he touches.

Obama is going to clamp down on senior military commanders’ access to the media.  Oh, that directive has NOTHING to do with the McChrystal fiasco, just as my writing this article on Obama banning the media has nothing whatsoever to do with the new media ban policy.

From the Wall Street Journal:

WASHINGTON – Defense Secretary Robert Gates on Friday issued a directive to all senior Pentagon military and civilian officials saying their dealing with the media “has grown lax” in recent months and ordering them to get approval for all engagements with the press through his office.

The directive, a two-page memo signed by Mr. Gates, comes just days after Gen. Stanley McChrystal was fired as commander in Afghanistan for intemperate remarks made to Rolling Stone magazine. The existence of the directive was reported by the New York Times and a copy was obtained by The Wall Street Journal.

Despite the timing, Geoff Morrell, the Pentagon press secretary, said it had been in the works for months before Gen. McChrystal’s firing. “This memo was written well before that,” Mr. Morrell said. “He thinks the department has been much too cavalier with its handling of the press.”

Now, you’d THINK they’d just admit the obvious and say, “That McChrystal thing was a real disaster, and we need to try to prevent something that disgraceful from happening again.”  But this is the most pathologically dishonest administration in history.  It’s like they have a perfect record on lying, and they’re not going to break it by telling the truth now.

This just goes back to Rahm Emanuel’s “Never let a crisis go to waste” mindset.

This is an administration that is so hostile to actual transparency that it has actually closed workshops on government openness to the public and blocked the press from attending transparency and accountability board meetings.

On front after front, this is the most opaque administration ever.  They block themselves off from media accountability even as they pat themselves on the back for their transparency.

This is the kind of administration that claims that it is advancing the will of the people when they are cynically defying and misrepresenting the will of the people.

It’s a constant pattern.  Just today, the Government Accountability Office (GAO) reported that Obama has utterly failed at transparency regarding the massive porkulus boondoggleWhat a shock.

In Afghanistan, Obama prevents the military from open access to the press, which means that the military can’t tell us how shockingly incompetent Obama is as commander-in-chief.

So it shouldn’t be a surprise that Obama would deal with his failure in the
Gulf of Mexico the same way he’s handled everything else.  He has been so pathetically incompetent that there’s a pretty damn good argument that he is stopping the cleanup efforts on purpose.

White House Enacts Rules Inhibiting Media From Covering Oil Spill
By Noel Sheppard
Created 07/03/2010 – 11:28

The White House Thursday enacted stronger rules to prevent the media from showing what’s happening with the oil spill in the Gulf Coast.

CNN’s Anderson Cooper reported that evening, “The Coast Guard today announced new rules keeping photographers and reporters and anyone else from coming within 65 feet of any response vessel or booms out on the water or on beaches — 65 feet.”

He elaborated, “Now, in order to get closer, you have to get direct permission from the Coast Guard captain of the Port of New Orleans. You have to call up the guy. What this means is that oil-soaked birds on islands surrounded by boom, you can’t get close enough to take that picture.”

You’ve got CNN and Anderson Cooper – both of whom lean reliably to the left – having this to say about Obama’s “transparency”:

“This time, however, we’re not talking about BP. We’re talking about the government, a new a rule announced today backed by the force of law and the threat of fines and felony charges, a rule that will prevent reporters and photographers and anyone else from getting anywhere close to booms and oil-soaked wildlife and just about any place we need to be.”

[…]

We’re not the enemy here. Those of us down here trying to accurately show what’s happening, we are not the enemy. I have not heard about any journalist who has disrupted relief efforts. No journalist wants to be seen as having slowed down the cleanup or made things worse. If a Coast Guard official asked me to move, I would move.

But to create a blanket rule that everyone has to stay 65 feet away boom and boats, that doesn’t sound like transparency. Frankly, it’s a lot like in Katrina when they tried to make it impossible to see recovery efforts of people who died in their homes.

If we can’t show what is happening, warts and all, no one will see what’s happening. And that makes it very easy to hide failure and hide incompetence and makes it very hard to highlight the hard work of cleanup crews and the Coast Guard. We are not the enemy here.

We found out today two public broadcasting journalists reporting on health issues say they have been blocked again and again from visiting a federal mobile medical unit in Venice, a trailer where cleanup workers are being treated. It’s known locally as the BP compound. And these two reporters say everyone they have talked to, from BP to the Coast Guard, to Health and Human Services in Washington has been giving them the runaround.

We’re not talking about a CIA station here. We’re talking about a medical trailer that falls under the authority of, guess who, Thad Allen, the same Thad Allen who promised transparency all those weeks ago.

We are not the enemy here.

Everybody who cares about reality, and everybody who cares about truth, is Obama’s enemy, Anderson.

Obama has a lot to hide.  He’s got a lot to be ashamed of.  He’s failing on so many levels at the same time that no one can even keep track of them all.  The Gulf spill – already the worst in history – could be such a disaster that we might literally be in a “You can’t handle the truth!” moment.  Obama is now the worst president in American history even according to the standards the Democrats used against Bush in 2004.  And all he can do on the economy is keep blaming Bush and keep telling the same failed lie he’s been telling since the American people were stupid enough to hand him the keys to the White House.

All I can do about the Fascist-in-Chief is say those four words: I told you so.

A Little Factoid: 77% Of Investors See Obama As ‘Anti-Business’

January 23, 2010

Stocks have tumbled 552 points as Obama announced his crackdown on American banks.  As a CNBC financial expert put it, “Obamanomics is a Chilling Experiment.”

From the AP on January 22:

NEW YORK – Stocks suffered their fourth sharp drop in five trading days as investors caved to growing anxiety about President Barack H. Obama’s plans to restrict big banks and earnings reports that just aren’t good enough.

The Dow Jones industrial average dropped 217 points Friday, having lost 552 points, or 5.2 percent, over the past three days. Over the past five trading days, the Dow has fallen 537 points, having gained 115 points on Tuesday.

The drop gave the Dow its worst week since the index hit a 12-year low in March.

Investors are saying to Obama, “Please don’t do this,” but he is showing the same deaf-eared fanatic-ideologue determination that he demonstrated in driving his awful ObamaCare forward.

Is it any wonder that most investors – by an overwhelming margin – now believe that Barack Obama is simply hostile to business and to the market forces that allow for economic growth?

From Bloomberg, via Yahoo News:

Obama Seen as Anti-Business by 77% of U.S. Investors
Heidi Przybyla Heidi Przybyla   – Thu Jan 21, 6:25 pm ET

Jan. 22 (Bloomberg) — U.S. investors overwhelmingly see President Barack Obama as anti-business and question his ability to manage a financial crisis, according to a Bloomberg survey.

The global quarterly poll of investors and analysts who are Bloomberg subscribers finds that 77 percent of U.S. respondents believe Obama is too anti-business and four-out-of-five are only somewhat confident or not confident of his ability to handle a financial emergency.

The poll also finds a decline in Obama’s overall favorability rating one year after taking office. He is viewed favorably by 27 percent of U.S. investors. In an October poll, 32 percent in the U.S. held a positive impression.

Investors no longer feel they can trust their instincts to take risks,” said poll respondent David Young, a managing director for a broker dealer in New York. Young cited Obama’s efforts to trim bonuses and earnings, make health care his top priority over jobs and plans to tax “the rich or advantaged.”

Carlos Vadillo, a fixed-income analyst at Wells Fargo Securities LLC in San Francisco, said Obama has been in a “constant war” with the banking system, using “fat-cat bankers and other misnomers to describe a business model which supports a large portion of America.” […]

Obama’s 71 percent unfavorable rating among U.S. investors is almost matched by two members of his economic team. Both Treasury Secretary Timothy F. Geithner and Lawrence Summers, president of the National Economic Council. U.S. respondents give Geithner a 63 percent unfavorable rating and Summers 67 percent. In October, 57 percent held a negative view of Geithner and 66 percent said the same of Summers.

Like Obama, both men do better with Asian and European investors.

One financial figure to find favor among U.S. respondents is Federal Reserve Board Chairman Ben S. Bernanke, who garners a 68 percent approval rating, which is in line with his marks from non-U.S. investors and the rating U.S. investors gave him in the October poll. […]

The U.S. investors’ overwhelming characterization of Obama as anti-business stands in sharp contrast to the results of a Bloomberg National Poll in December, when 52 percent of U.S. adults said the president had the right balance in his approach.

Obama gets considerably higher marks in Europe and somewhat higher marks in Asia.  Like I give a damn about what socialists think about our socialist president.

Take the Europeans (PLEASE!).  They claim to welcome Obama’s attack against banks, but at the same time announce they have absolutely no intention of killing their nations the way Obama is killing America.

One quote in particular that comes out of the above article:

“The Obama plan is really back to the future. These sort of plans were implemented after the Great Depression and then taken away in the 60s. He is sort of reinstating the same plans to deal with this crisis,” the source said.

Obama is taking us back to the Great Depression to “solve” our recession.  The problem is that economists now realize that FDR’s constant bureaucratic interference was what kept America in the Depression seven years longer than what was necessary.

Anyone with half a brain (which understandably rules out most Democrats) should readily understand that the cost of Obama’s taxes on and interference of banks will only end up being passed on to American consumers in the form of higher fees, charges, and penalties.  Obama is really only taxing us through the banks.  And he’s using populist demagoguery in hopes of making us want to punish the banks so much that we forget that we’ll be seeing higher fees as a direct result of that punishment.

Obama has lost more jobs in one year than any president has lost since 1940.  He has presided over the destruction of 4.1 million jobs.

This is NOT a “future” we should ever want to go “back to.”

Our investors – who far and away have been forced to live under Obama’s policies – pretty much realize he sucks across the board.

What does Obama have to offer?  No solutions, just more problems, and more attacks.  All to the tune of “It’s Bush’s fault.”