No Celebrating GROWTH!
You know something’s up when the guy who gave the State of the Union address during “the worst economic crisis since the Great Depression” won’t take credit for the biggest economic growth since 2003! And though the economy grew at 5.7%, Obama cautions against celebration!
Given the state of the economy over the past year, you’d think Obama would be running naked across the White House grounds to draw attention to this. Finally something he doesn’t have to blame on Bush!
And surely the state-run media would willingly blow Obama’s horn for him—pardon the double entendre.
Yet Obama is amazingly quiet on this great news, and I predict you can expect him to remain amazingly quiet on this issue—as will the media!
Neither will trumpet this amazing news, outside of offering a few references here and there? It’s because like Obama’s promise of hope, this news delivers nothing but false hope.
Truth be told by Obama, very few jobs have been created, and no private sector jobs have been saved. The rate of unemployment has slowed, but that’s natural when you have lost as many jobs as we have over the past year, now over 3M.
Corporations have long since cut the fat, and most have even cut muscle. All that’s left are internal organs. If Obama keeps “stimulating” the economy, some companies will have to start selling kidneys on eBay.
In his first State of the Union address, Obama mentioned the creation of around 2000 new jobs, meanwhile the most recent jobs report showed a loss of 482,000 more jobs—a perfect example of Liberal math! One would think that the man, who has introduced trillion to the American lexicon when it comes to spending, could at the very least get beyond four digits when it comes to job creation!
America’s unqualified neophyte has learned a difficult lesson in his first year as POTUS, now that he has left world of “Lalaland.” The hard lesson—obviously not taught at Harvard—is that government doesn’t create jobs. Government confiscates productivity and redistributes it…badly.
Obama finally has to come to grips with the fallacy of his economic policies and the realization that they simply do NOT work. He knows his policies will not create or save jobs, which is why the White House dropped “created or saved” from their lexicon—nobody was buying that line of Pelosi anyway.
Economic analysts say that the anomaly felt by the economy is companies’ restocking inventories. This is because companies are no longer stocking inventories, and are doing much more “build to order.”
Even with that, delivery dates are slipping, because the manufacturers are producing less on the front end. In short, we are going back to the way business was done in the ‘70’s…yep, the Carter years!
Occasionally companies will increase their order volumes to make up for the surge, and that is what just happened. I figure it’s a likely recovery from the Christmas season, where retailer took a justified pessimistic approach to stock levels.
Further, the shell game that was played in the housing market, extension of welfare, and artificial monies injected into “shovel ready projects” all contributed. Unfortunately for Obama, all his get-well ideas were little more than a band-aid on a bullet hole, and Bush didn’t do the shooting.
Here’s the wrap:
Obama has no real plan to reduce unemployment, at least one that will sustain itself, and he is panicked—as he should be. He can create “temp” jobs through confiscation and redistribution, but there are too many other factors that won’t allow him to be successful with his present course of action.
He did get lucky that the census is here, or can you imagine what the unemployment figures would be? The impact of taking 1.4M jobs—though temp—out of this economy would be devastating.
CEOs are too concerned about the future to hire. Obama can offer small businesses incentives, unfortunately they have few clients in an economy with over 17% real unemployment. Jobs with staying power are shifting offshore or are already there.
America’s economy is shrinking considerably, thus our clout slips every day. At one point America was 60% of the world’s economy, and I predict that another year of Obama that figure will slip to well under 50%. By the end of his term, our economy could be as little as 40% of the world economy.
The world recognizes America’s financial weakness and leadership void, so expect countries like China, India, and Russia to press hard. They are all modeled after pre-Obama America.
Expect Obama to flirt with Conservatism, sort of a “you show me yours, I’ll show you mine” strategy. However he has nothing to show. Obama is a fiscal eunuch, who depends solely on the government to shore up his shortcomings. And expect him to “reach across the aisle” in search of a Republican scapegoat.
Obama will remain uncharacteristically level about this news, and will act as if he is above gloating. But Obama knows that his good news will be short-lived, and the reality of the economy will be slapping him in the face very shortly, and he won’t react until he has found his Republican scapegoat…a sucker!
That’s my rant!
© 2010 Kevin Jackson – The Black Sphere All Rights Reserved
28 Comments »
M. Wood says:
February 4, 2010 at 10:00 am
“he is above gloating. But Obama knows that his good news will be short-lived,
expect him to “reach across the aisle” in search of a Republican scapegoat.”
Yes, he will blame anyone available.
Now I learn that we should expect a terrorist attack within months. He has botched the economy and with his administration’s mishandling of our national security, he will be responsible for our deaths… who will he blame for that?
mt says:
February 4, 2010 at 10:21 am
Great analogy of a return to the seventies, Kevin. This reliance on a central planning government, particularly in monetary policy, are only making matters worse, in effect a substitute for price controls that were all the rage in the Carter years. Gonna have to dust off that ole misery index that now stands at 17-22% (as in real unemployment) and sadly, is only climbing. That’s the kind of retro I can do without.
Jim Schurmann says:
February 4, 2010 at 2:09 pm
Another great rant Kevin.
Owe-bow-ma is going to give businesses $5000 to hire another person to help them make something that no one is buying.How does that help? He is also going to double exports in 5 years. Thats going to be a neat trick since we have labor costs much higher than China. Just exactly how is he going to overcome that 500 pound Gorilla in the room. He throws those figures out there knowing the lamestream media or anyone else will question him on his BS.
Mary Landreu $100 million. Ben Nelson $300 million.Kevin Jackson priceless:).
DaSicilian says:
February 4, 2010 at 3:46 pm
Moody’s has just sent out a warning about our AAA rating…do something about the deficit…or else….As I said in a previous blog….to heck with the whole black/white thing…we all need to be learning Chinese…
Have a nice day :>)
DaSicilian says:
February 4, 2010 at 3:56 pm
On a slightly different note….
But aren’t they all?
Diplomat Whose Name Is Dirty Word
in Arabic Rejected as Saudi Ambassador
Fox News, by Staff Original Article
Posted By: merrijane- 2/4/2010 3:43:41 PM Post Reply
A high-ranking Pakistani diplomat reportedly cannot be appointed ambassador to Saudi Arabia because in Arabic his name translates into a phrase more appropriate for a porn star, referring to the size of male genitals, Foreign Policy reported. The Arabic transaltion of Akbar Zeb to “biggest d**k” has overwhelmed Saudi officials who have refused to allow his post there.
Kevin Jackson says:
February 4, 2010 at 4:02 pm
@SirRonB – Did you ever see that spoof of the K-Car. PRICELESS! I want to GET one!
Kevin Jackson says:
February 4, 2010 at 4:04 pm
@mt – Profound comment! You are ready for The Black Sphere graduate school!
Kevin Jackson says:
February 4, 2010 at 4:05 pm
@Jim – LOVE the Visa reference, as a black man is always looking for good credit!
Mick says:
February 4, 2010 at 4:15 pm
Another good one Kevin!! We’ve been told by the CBO that stimulus for repairs to roads and bridges didn’t create jobs. We know in a few months the 1.4 million temporary census jobs will disappear.
This morning Macy’s announced they have no plans for hiring during 2010. Also, this morning, new claims for unemployment last week rose by 30,000. And this morning the discount chain Target reported less than expected sales for January.
The 5.7% GDP includes an adjustment made for inventory that is not financially sound. There is no theory to support such a ridiculous adjustment. Remove the cash for clunkers inventory and businesse replenishing their inventory levels what is left of the 5.7% growth? Nothing but government spending!!
The biggest joke is that $5,000 jobs credit. If the total cost (salary and benefits) is $65,000 per employee it will still cost you $60,000. Most employers will pay overtime instead of hiring another person and probably incur an additional cost of only $20,000-$25,000.
Obowma fails to realize its the consumer who is going to eventually lead us to recovery. Business cannot hire if the consumer does not spend. Credit for many consumers is difficult to obtain. Financial institutions cannot be made to lend. After what they have experienced there is no way some of them will lend……truthfully, with the taxes being imposed on them and limitations on bonuses…..you cannot blame them. They have written off unbelievable amounts as uncollectibe….actually record amounts during 2008 and 2009. And will continue writing off uncollectibes this year.
So where is the purchasing power going to come from? If your raising taxes, fees and penalties then more than likely your going to incur another decline…are you not?
During a recession and recovery you do not raise taxes. Instead you lower taxes. The government does not create jobs the private sector creates jobs. Why is it so difficult to understand these two simple principals?
Gregg says:
February 4, 2010 at 5:12 pm
It’s really sad Kevin. I’m here in Tulsa, OK where the UE rate is relatively low (7.1%) but I sure am seeing a lot more empty stores and restaurants and such than I did a couple years ago. Nobama just needs to go and then we have to take the next 20 years or so to fix what he and that group of miscreants he calls a cabinet has done to this country. Another great rant by the way. Keep your head up!!!
Joe says:
February 5, 2010 at 1:18 pm
Is it possible for President BO to actually learn from his mistakes? I don’t think so. Little too much pride there.
Lyndan says:
February 5, 2010 at 6:21 pm
Joe (at 1:18pm ET): The problem is: BO’s actions are NOT mistakes. He is DELIBERATELY trying to dismantle the country. That is his intention because he HATES America. He is succeeding…so far.
Thomas Ducharme says:
February 6, 2010 at 10:24 am
Kevin you are accurate on the 70’s analogy and I agree… The stimulus money was a façade (a big stick)…. Wall street and bankers were in the “know” when OB meets with them in March 2008 behind closed doors (start of market run up). Take into account though most people who are against the “Progressives” in DC and part of the TP movemnet (51% of US citizens) work jobs and have families… We know keeping up with current news affairs, then disseminating the data takes a vast amount of time, let alone posting our views. Time management was in its start in the 70’s. The following Congressional Reform Act of 2010 has been circulating for a while (posted below) Reform I feel would solve a majority of the problems that we all tend to complain and post about. We need to create a new set of rules similar to these for our current elected politicians or they will run us all up a pole!
Congressional Reform Act of 2010:
1. Term Limits: 12 years only, one of the possible options below.
A. Two Six year Senate terms
B. Six Two year House terms
C. One Six year Senate term and three Two Year House terms
Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, serve your term(s), then go home and back to work.
2. No Tenure / No Pension:
A congressman collects a salary while in office and receives no pay when they are out of office. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, serve your term(s), then go home and back to work.
3. Congress (past, present & future) participates in Social Security: All funds in the Congressional retirement fund moves to the Social Security system immediately. All future funds flow into the Social Security system, Congress participates with the American people. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, server your term(s), then go home and back to work.
4. Congress can purchase their own retirement plan just as all Americans.
Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, serve your term(s), then go home and back to work.
5. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.
Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, serve your term(s), then go home and back to work.
6. Congress looses their current health care system and participates in the same health care system as the American people.
Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, serve your term(s), then go home and back to work.
7. Congress must equally abide by all laws they impose on the American people.
Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, serve your term(s), then go home and back to work.
8. All contracts with past and present congressmen are void effective 1/1/2011. The American people did not make this contract with congressmen; congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, serve your term(s), then go home and back to work.
Susan says:
February 6, 2010 at 10:35 am
GOP asks Obama: ‘Where are the jobs?’
http://news.yahoo.com/video/us-15749625/gop-asks-obama-where-are-the-jobs-18004018
National Tea Party Convention Feb 5, 2010
Angela McGlowan
Love her !!!!
We don’t want welfare-we don’t want to be held at Bay… vote the bums out 2010-2012
Joseph Farah
We are at many many site this is one.We need to fight for America and for our and our childrens future.Washington is destorying our country ! It’s spinning the wrong way and it’s for the agenda to control us all here in America.DON’T LET THIS HAPPEN..PROTECT OUR FREEDOMM !
Susan says:
February 6, 2010 at 10:43 am
National Tea Party Convention Feb 5, 2010
Angela McGlowan
Love her !!!!
http://www.youtube.com/watch?v=sxEsY_9X8mg&feature=player_embedded
Joseph Farah 1 OF 4
http://www.youtube.com/watch?v=JyoCRC-oT0A&feature=player_embedded
http://www.youtube.com/watch?v=lseNz4kJ9_g&feature=player_embedded
http://www.youtube.com/watch?v=vrAwia_kE5I&feature=player_embedded
http://www.youtube.com/watch?v=zzjk_RtCYY0&feature=player_embedded
We are ready to take back our country !!!!! Let’s go America..
http://www.youtube.com/watch?v=-VMXz6xGeqc&feature=player_embedded
We don’t want welfare-we don’t want to be held at Bay… vote the bums out 2010-2012
http://www.youtube.com/watch?v=_sjvc6baor8&feature=player_embedded
Joseph Farah
We are at many many site this is one.We need to fight for America and for our and our childrens future.Washington is destorying our country ! It’s spinning the wrong way and it’s for the agenda to control us all here in America.DON’T LET THIS HAPPEN..PROTECT OUR FREEDOMM !
Susan says:
February 6, 2010 at 10:55 am
Tea Party Nation held its first national convention. Angela McGlowan and Joseph Farah spoke about Tea Party movement issues
http://www.c-spanarchives.org/program/ID/219195&start=0&end=3028
Susan says:
February 6, 2010 at 10:57 am
I think if all the movements join together, can you see that ? Tea Paries are BIG..We can all band together and foght for america.We need speakers of all people in all movements..Please pass around to people.We do need the biggest movement ever to fight and to be heard.
Janelle says:
February 6, 2010 at 11:49 am
The turkey picture is priceless on so many levels. Obama’s habit of speaking with beak and chin tilted skyward has annoyed me from the start…….now, I’m remembering that turkeys have the unfortunate habit of drowning when it rains. They simply can’t bring themselves to lower their beaks and close them.
JJ SOLARI says:
February 6, 2010 at 1:41 pm
that “turkeys drowning in the rain” thing is a myth. however, obama, on the other hand, has never had an original thought and he just might, if curious enough about the phenomenon of rain, and not knowing anything about rain if it wasn’t teleprompted to him, he just might look upward with both nostrils and one drooling maw gaped open and ponder the downflow of wetness and become so stupified that he would conceivably drown. being stupider than a turkey. which he is. But even in death, were obama and a turkey both to drown by staring at the sky, even in death a turkey has more virtue being not only edible but tasty. whereas vultures and hyenas both would flee the deceased obama carcass, though that razor-toothed wife of his might gallop over on all fours and devour the body. She always looks at him like she wants to.
Lenore says:
February 6, 2010 at 6:25 pm
The media is really trying to state who we are today and boy are they f*cking it up.
For the media, maybe they will finally get it.
The TEA party Patriots, who are we? For the most part we are AMERICANS born and bred in the basin of Freedom. We ARE the silent majority. We believe in life, liberty and the pursuit (not the guarantee) of happiness. We believe in Personal responsibility, Individual Liberty, Small Government, Freedom to choose the cause our charitable contributions go to and above all we believe in FREEDOM!! We ARE our Constitution. We ARE our Bill of Rights. We ARE the declaration of Independence. We believe our freedom comes from God or at birth not the Government. There are no sinister motives, no hate for a person, just love for our founding principles. Free Will and Free Thought are our gifts from God. Individual Liberty, Personal Responsibility and Freedom are their natural descendants.
Gadsden says:
February 7, 2010 at 12:59 pm
Another reason any good news can’t be delivered is that “crisis fuels the engine of the leftist agenda.” In other words, they need to keep shoveling the bad news into the rhetorical fire that keeps this locomotive of false hope at top speed. Unfortunately, they forgot to construct a rail system. That must not have been a “shovel ready” project.
Gadsden says:
February 7, 2010 at 1:00 pm
….And let’s wait and see if there are any penalties for small businesses who refuse to accept these loans. Ahead may be a Chicago Style “offer you can’t refuse.” Don’t put it past them.
Joe says:
February 7, 2010 at 2:04 pm
Lyndan: I was thinking that President BO’s hatred of America WAS his mistake.
Sir RonB says:
February 4, 2010 at 12:19 am
Since we get to go back to the ’70’s and the economic situation that existed then can I be the first in line to buy a Chrysler K-car for the gas lines that are about to come and to help Chrysler emerge from ruin all the while running scared from the big bad Iran!
But since he won’t do it. I will do a cheer for him. Obama, Obama he’s our man if he can’t do it….Blame it on Bush!