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.
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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.
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
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