Posted by
ApolloSpeaks on Saturday, September 12, 2009 12:32:43 PM
Larry Summers
Confirming my theory that Obama's mad and reckless rush into health care reform was born from panic due to his loss of confidence in his own recovery program and Fed monetary policy, Larry Summers warned on Friday that "Unemployment will remain unacceptably high for years (
see)." For years? Meaning what? Double digit unemployment until 2012? What a way to end the summer admitting that Obamanomics is a bummer (see).
Postscript I
Summers said Friday: "We will not make the mistake of prematurely declaring victory or prematurely withdrawing public support for the flow of credit," adding that he wanted to avoid the mistakes Japan made in the 1990s and the United States in the late 1930s by pulling the plug on government support too soon.
This is an admission by an economic dunce-an MIT and Harvard grad who never ran a business-that Obama is following the failed Keynseian model of the New Deal and Japan's "Lost Decade" to fix our economy hoping against hope for a different result. This is the audacity of insanity. While Summers noted that joblessnes was at a 26 year high nothing was said about the success of Reaganomics (free market solutions) in ending that crisis. For anything short of government solutions, of massive federal borrowing, spending and printing money, is practically taboo for this anti-Reagan, anti-growth pro-big governemnt administration*.
*Obama, who refuses to give Reagan any credit for ending the Cold War, is hell bent on proving Reagan wrong that "government is the problem." In short, Obama is at war with Reaganism as he is with the profit motive and capitalism. He has dedicated his presidency to proving the proposition that "government is the answer," despite centuries of evidence to the contrary. Ironically, Barack Obama is proving himself to be the best thing that happened to Conservatism since the Reagan Revolution (which Obama is reviving).
Postscript II: Obama, Osama and 9/11 Economics
You will notice that Summers' bad news on the long term "jobless recovery" came out on September 11th eight years to the date when bin Ladin launched his deadly attack believing it would raze the US economy to the ground with our country following the Soviet Union into the abyss. It didn't happen. Instead, the economy rebounded due mostly to Bush's bold leadership and supply side tax policies-eventually overwhelmed by the Fanny/Freddie/Wall Street housing meltdown. However, instead of the terrorist Osama crippling our economy we now have the terrible anti-Capitalist Obama threatening economic Armageddon with his reckless policies-slowly succeeding where Osama had failed.
During the campaign when Obama's kingmaker Ted Kennedy made his famous Obama/Osama gaffe (made also by Romney, Chris Matthews, Dean Singelton and others,
see) it wasn't so much a Kennedy moment of mental confusion as an oracular slip of the tongue unconsciously warning us that Obama as president would fulfill the worst nightmares of bin Ladin for America. For Obamanomics, Cap and Trade and ObamaCare will, as Warren Buffet warns, turn America into a "bannana republic*"-making "Obamunism**" equal in its economic impact to a hundred 9/11s or a dozen Katrinas.
*What I call the Kenyan Mau Mau Miracle.
**Obama's ideology is rooted in communist-socialist egalitarian thinking.
Like Osama bin Ladin, al Qaida, and all jihadists great and small, Obama is the enemy of Democratic Capitalism and American economic and military hegemony (
see). He is Bill Ayers and Geraldine Dorn without the bombs; the answer to Rev. Wright's damning prayers; bin Ladin without hijacked planes and suicide killers. Obama is many 9/11s rolled into one destructive presidency. Those who inadvertently confused Obama's name with Osama were in a sense speaking truth as both are insanely driven by destructive ideologies opposed to American enterprise, greatness and power.