Thursday, June 9, 2011
Obama's Killing the Economy One Day at a Time
By Alan Caruba
A theme I have returned to over the past three years is my view that President Barack Hussein Obama is a moron. A big part of me wants to attribute his decisions to ignorance, but another part sees a thoroughly malevolent ideology directing those decisions. I don’t think he likes America or Americans.
The world these days is a very unhappy place. In Western nations, Europe and the United States, there has been so much profligate spending and so many “entitlement” programs that financial structures are beginning to crack like poorly maintained bridges or dams.
The Democrats, led by Obama, Senate Majority Harry Reid, and former House Speaker, Nancy Pelosi, have supported the destruction of Medicare with Obamacare which is now wending its way through the courts with 26 States joined in opposing it. In this and so many other ways this trio, supported by party linevotes has created an environment of fear and uncertainty that is playing havoc with the economy.
Millions of Americans are waking up to the fact that the Federal Reserve, despite being authorized in 1913, is a central bank with its own agenda and not even subject to a congressional audit. As was the case leading up to the Great Depression of the 1930s, its policies are contributing to the current financial crisis. This week Wall Street listened to Fed Chairman Ben Bernanke’s outlook on economic growth and stock prices took a dive.
All of the Obama administration’s economic policies have proven to be models of stupidity and three years on from Obama’s 2009 inauguration, every single element of the economy is in the toilet.
A June 8 opinion by Martin Feldstein, published in the Wall Street Journal, was titled, “The Economy is Worse Than You Think.” Like the 1960’s robot on TV’s “Lost In Space”, Feldstein and a legion of economists are shouting, “Danger, America, danger!”
Is anybody surprised that every one of Obama’s original economic advisors except for Tim Geithner at Treasury has left for the ivory towers from whence they came? With tenured jobs waiting, they are secure even if the rest of us are not. Geithner came from the ranks of the Federal Reserve and that is hardly a recommendation these days.
Soon, Obama will be able to say, like France’s King Louis XV, “Après moi le déluge”,
To provide you with just one example. You have to be stupid to cling to a completely debunked “global warming” hoax whose real purpose was to create a new source of wealth for people like Al Gore via the sale of “carbon credits.” These are permission slips to emit carbon dioxide (CO2) while producing energy, such as utilities, or using it to manufacture and produce virtually everything from steel to the local baked goods.
The problem for those advocating carbon credits is that there is no global warming. A new cooling cycle began in 1998 and the Earth has been cooling ever since. The Mississippi River flooding is the result of melting snow from a winter that produced record amounts. Future winters will become more extreme and last longer because that’s what happens when the Earth cools.
Not only is the Earth cooling, as it did from 1300 to 1850 in what is now called the “little Ice Age”, but CO2 has nothing whatever to do with the climate. It comprises 0.038% of the atmosphere. Manmade CO2, deemed the culprit because it is the result of burning fossil fuels, oil, gas, and coal, for energy, has nothing to do with climate. The primary factor was and is the Sun. It has been that way for 4.5 billion years.
So why do we read that the Obama administration’s Department of Agriculture has spent $17.4 million “to explore market for carbon credits”? Why is the administration still fixated on a Cap-and-Trade bill they say will reduce CO2 when it is not a problem? Somebody is still looking for a big payday, but the rest of us have just seen $17.4 million of our money flushed down the Green toilet.
The problem here is that the Chicago exchange that was set up to cash in on the CO2 cash cow has folded and the ones in Europe have collapsed as well. Agriculture Secretary Tom Vilsack may want to establish an American carbon market, but having already wasted millions toward this objective, someone needs to tell him to stop.
That someone would normally be the President, but our President is not normal. He is a pathological narcessist and liar.
In the past three years, Obama has doubled the national debt, often with “stimulus” bills that stimulated nothing.
Obama’s Gulf of Mexico “permatorium” has put 87,000 workers in the oil industry out of work with a moratorum on drilling permits that courts have twice declared illegal, but which continues to this day.
Americans have been forced to witness a succession of short-term, quick fixes to the economy that have fixed nothing and made things worse. That’s a pretty good definition of stupidity.
© Alan Caruba, 2011