Posted on 06/15/2011 9:03:51 AM PDT by Para-Ord.45
Obama gave away the game. Without actually using the words, Barack Obama admitted he is completely and utterly ignorant about job creation and economics. In an interview with the Today Show, Barack Obama declared that the unemployment rate remains so high because of ATMS.
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For starters, this Obama comment really is odd when he wants the government to subsidize the production of electric cars, which would destroy whole sectors of the economy centered around gas fueled cars. If he believes ATM’s destroy jobs, why does he want to subsidize government innovation in green jobs, which would destroy other jobs? Of course, the answer to that is that he wants to destroy the other sectors.
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What’s more troubling about Barack Obama’s statement though — and the White House doubling down on it — is that it leads to one of two conclusions, both of which are horribly wrong.
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The first conclusion is that we should get rid of technology, declaring a veritable Butlerian Jihad. Doing so would cause companies to allocate resources more inefficiently, which might increase the labor pool in one sector of the economy, but assuredly wipe it out in another.
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The second conclusion is that we must settle for this. It is arguable that we are in a period of stagnation with regard to innovation, invention, and technological progress. But settling for this as fact will most likely lead the government to take public policy steps to strengthen and expand the social safety net to compensate for lost jobs than to get government out of the way and fire up the private sector to move beyond the stagnation and innovation plateau.
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We can see already that Barack Obama has decided to go with the second option — to accept a decline and prepare for the decay caused by the decline instead of taking proactive steps to get the economy firing up again.
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Barack Obama shows himself to be clearly ignorant of the way a free market economy works and innovates. Consequently, his economy policy is founded on that ignorance, accepts as gospel the decline of the United States, and, until he is replaced, we’re screwed.
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What’s scary is that concept came straight off of a university campus.
The pointy-heads have been writing for each other for years about how automation was going to make all workers obsolete soon, requiring mass government intervention.
So back when the unemployment rate was around 5.5 percent in 2002 there were no ATM’s?
Or, to put it another way, Dem voters are idiots.
Compared to the century before, the 1st 11 years of this one, the horse sh-t is defintely deeper in this one. Holy white owl crap Batman. Kow-um bonga!!!
This is a good example of Obama off the teleprompter. His handlers prepped him with an idea/concept and this was how he explained it.
“Barack Obama shows himself to be clearly ignorant of the way a free market economy works and innovates.”
Ignorant? No he isn’t. It’s by design. He knows exactly what he’s doing. And we just sit by and let it happen.
“Regards to President Dunsel”.
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