Wednesday, June 10, 2009

Obama Bernake & Bush Greenspan

I am not quick to second guess folks, but I am astute enough to use reason to figure out stuff. Case in point is this bailout. I know have harped on this and the economic recovery act and these artificial efforts to stimulate an economy with no production or manufacturing base both for the current and pass administrations, but I still just don’t get it. It is like they do not or have never run a business as I do.

The way I figure we should as a nation, produce more and consume less. This is simple supply side and cost revenue accounting, they way most small business folks and family keep their books at home. It is just hard for me to see any difference economically from the methods of Obama Bernanke and Bush Greenspan. Yep they both need to be one person since both are connected to the hip with their Federal Reserve namesakes.

The problem is that these pair of two headed Cyclops thinks that it is ok for Americans to go around, at the expense of our own loot, with foreign money. This is some of the backwardsist azz shit I have ever heard. Hello, credit got us into this problem. It seems that all we care about is credit, from the administration to the common man. On the top end, it will most likely lead to some sort of hyperinflation and on the other – we just want a credit card where we can put a pic of or children or cats and dogs on.

Obama said that credit was the life blood of our economy. I would like to disagree. Credit is just what got us into this mess, servicing debt, complex financial instruments that go unregulated and the reckless Federal Reserve Bank that is just borrowing more and more money while making the fake ass artificial interest rates that seem to only benefit Wall Street. I say this because every where I look I see declining wages as well as declining competition because that’s what bailouts do. I just don’t get it, I mean albeit I wrote my name in on the presidential ballot, I did believe Obama mantra of change, but unfortunately it is more of the same, for I can see no difference between Obama Bernanke and Bush Greespan. Please folk; don’t confuse the policy with popularity.

10 comments:

Ingie said...

Well said

President Anthony Taurus said...

i agree. no manufacturing and no production. we've been hemorrhaging for the last decade on this silly notion that the US will become a knowledge based economy. that was the dumbest thing i've ever heard. it's like they've never heard of books before. every year more and more jobs are shipped overseas, even the "knowledge-based" jobs. the captains of industry have looted the american economy from top to bottom. we're definitely diggin a deeper hole here.

in my opinion he has to stop the current job loss which won't happen soon but also build jobs back up to the point before it was cool to ship jobs overseas which may include reinvigorating a textile industry lost in the early part of the 20th century and basically maintained by quilt hobbyists.

just my 2

Kingsmomma said...

I agree,
There has been so much outsourcing of production. The US has become largely dependent upon the importation of goods and services. Relying on Credit is simply ridiculous and as long as people promote these antics we will not see a change.

Carla said...

Supply side economics does not work. It didn't under the Reagan era and it wouldn't now either, because it lacks one fundamental principle: it pays no attention to demand!

It's not enough to just produce. You have to produce something that people want. And, by the looks of things, what people want is credit.

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