Obama Officially Owns This Depression

Whether President Obama-prompter makes you sleepy, skeptical, bored, or scared, you should be aware that the man is now in charge -- and therefore responsible for what happens. The Obama Depression itself is aptly named, since it is the threat of an Obama presidency that foreshadowed the OD as early as August or September of 2008, and the reality of the Obama election and subsequent presidency that finally set the drop into depression from November 2008 into the indefinite future.

Economists are wondering why members of the public at large do not seem more concerned about their economic future than they do.

A review of prominent events in the depression scares of 1974-75 and 1978-82 suggests that they stemmed at least in part from a sense that inflation was dangerously out of control. During both periods, inflation moved into the double-digit range. There was widespread concern that the Federal Reserve had no good options and might need to plunge the economy into a depression to control inflation.

And in these two periods, energy crises — the first and second “oil shocks” — contributed to the negative outlook....Now that oil prices have moderated, it’s possible that most people have less vivid worries than they did in 1974-75 or 1979-82 because their economic problems are not evident every time they shop or drive their cars.

During those earlier two scares, out-of-control inflation was widely visible, but today many people haven’t personally experienced rising unemployment and foreclosures. And it’s possible that the optimistic tone of the president and the Fed has assuaged some fears, and that people might believe that the government is fixing their problems. _NYT

Imagine the current cascading failure of banks, businesses, and building trades combined with doubled or tripled gasoline prices plus widespread inflation as was seen under President Carter? The public panic would be more palpable than is currently felt.

In other words, the crash in oil prices (from the world deflationary crisis) plus the apparent lack of inflation (also caused by deflationary stresses) are allowing people to tell themselves that nothing is really wrong. Even as the Obama / Pelosi reich takes the wrecking ball to the economy, and hands control of the future of every American down the the third and fourth generation to friends and financiers in the labour movement, in the legal industry, in the banking and finance industries, and in the radical activist anti-energy dieoff.orgiast industry.

Obama owns this depression. He is working as fast as he can to dig the hole under the economy as deeply as possible. So far, no one seems any the wiser. The economic devastation for the near and medium future is already immense. The stresses on the integrity of the nation as a whole are starting to exceed allowable levels. But Obama-prompter is not likely to stop at the limits. He is certainly not aware of them.

If you are like most of the herd, you will see no reason to modify your behaviours in light of the narcissist in chief's full scale assault on the market economy. You will believe the news and entertainment media that the world is now in good hands. But if you are intelligent, you will calmly and deliberately begin making contingency plans just in case they are wrong.