16 July 2010

Will the Obama Depression Last at Least 10 More Years?

"We don't have too many engines of growth functioning right now -- housing, consumer spending, exports are all sputtering. I have a hard time seeing where we can get 3% economic growth back." _CNN
It's becoming obvious that instead of solving the economic problems he inherited, Obama is making everything worse.
The risk of a double-dip recession is getting a lot of attention, but even that grim prediction could prove a little too optimistic.

Disappointing job reports, weakness in housing and consumer spending and problems in world financial markets have raised concerns about the U.S. economy stalling out later this year. Now some economists are starting to talk about an even worse fate: a prolonged period of very weak growth, a so-called "lost decade."

...A lost decade, or something like it, could feel like a never-ending recession to many Americans, as the economy does not grow fast enough to recoup lost jobs, and investments like homes and stocks continue to lose value. _CNN
When Obama Pelosi decided to declare war on America's middle class, it triggered a series of unreported collapses that severely reduced the chances of economic recovery.
Part of this problem lies with the party’s base, which the urban historian Fred Siegel once labeled “the coalition of the overeducated and the undereducated.” Major urban centers like New York, Chicago and San Francisco might advertise themselves as enlightened, but they have lost much of their middle class and suffer the highest levels of income inequality.

Representatives from these areas now dominate the party and reflect their bifurcated districts.,,,Not surprisingly, this agenda does little for the middle-class — mostly suburban — voters._NewGeography
The middle class -- the backbone of America -- has been devastated by the radical social engineering, corruption, and political favouritism of the Chicago Way mob-style politics.

It isn't really accurate to call what America is going through an "Obama Depression." It is more accurate to call it a nascent civil war. With every new legislative "overhaul" and "bailout" that passes under Obama Pelosi, the US moves closer to a national nuclear fission -- implosion-explosion.

From a disastrously failed economic bailout, to an Obamacare which will reduce access to health care rather than improve it, to a banking reform bill which does everything except help to solve the problem, to an energy policy from hell, the Obama Pelosi agenda has enriched political insiders at the expense of the nation at large -- particularly the embattled middle class.

If you take the recent Dodd-Frank "banking reform" bill, and look merely at its gender and racial quota provisions, the seeds for further economic devastation are apparent -- and the big payoff to Obama Pelosi supporters is painfully clear. Further perusal of the huge Dodd-Frank bill would no doubt find much more, and possibly much worse.

But how long can a regime go on in this way, sucking the life out of a nation to enrich and placate its core support groups? How long before the nation buckles at the knees and falls on its face? It appears that Obama Pelosi intends to find out, by pushing its vampirish agenda upon the US all the way to the failure point.

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“During times of universal deceit, telling the truth becomes a revolutionary act” _George Orwell

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