February 2009
Sunday 15th, February 2009
Good Politics and Bad Ecnomics01:56 PMCategory : Politics
Location : Cincinnati, Ohio, USA
Do we live in the time of the "Worst catastrophe since the Great Depression" or the time of the biggest rip off of all times. The main stream media seems to ignore the facts and support President Obama's contention that we are in uncharted dire straits. But the facts, though grim, do not support the severe reaction we are hearing.
Unemployment currently stands at 7.6%, up a whopping 2.2% in the last year with expectations that it will increase more in the next year. In 1930, the first year of the Great Depression, unemployment increased by 4.8%, the first of three years of huge job losses. (see {link}). By another measure automobile production has fallen 25% in the last year contrasted to a 90% decline in 1930.
These numbers sadly show we are not in the catastrophe that our political leaders describe. But we could end up there because of the their policies and failed leadership. The promise of transparency and change has been replaced with the most completely hidden and earmark laden legislation of all times. In the name of stimulus the democrats in congress have given us a litany of social agenda spending programs, most of them totally unknown to those who voted for or against the bill.
Clearly Mr. Obama, supported by the liberal media, is a master of the political spin. Even more clearly, he and his woeful choices for cabinet members do not have a clue about the real economical situation.
Or perhaps they do understand what they are doing and they are using the crisis to move all the wealth of this great nation to their control. Either way their actions if not checked will be the end of freedom and prosperity as we know it.
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