Posted on 08/18/2011 7:55:09 PM PDT by jsh3180
“They Did It!”
The President just concluded a frenzied “jobs” bus tour to explain why unemployment is at 9.1% — after borrowing nearly $5 trillion in stimulus the last three years. You know the usual suspects responsible for our, not his, malaise: George Bush did it; the Republican obstructionists in the Congress who were wary of approving another $2 trillion in debt did it; the Tea Party did it; Standard and Poor’s did it; the Japanese earthquake did it; the Japanese tsunami and nuclear accidents did it; the Middle East unrest did it; the European debt crisis did it; new technology like ATM machines did it. Obama has cited these culprits and many more — though never either himself or his advisors who took a weak recovery and turned it into a near recession.
Where Are They Now?
Unofficial and sometimes presidential economic advisor Paul Krugman is increasingly petulant, blaming too little borrowing for the dismal 9.1% unemployment rate, some two years after the recession that began in December 2007 “officially” ended in June 2009. (Note the Zeno-like paradox of too much never being quite enough). Remember the presidential advisors, who in the euphoria of the hope and change election sweep of November 2008 — Austan Goolsbee, Peter Orszag, Cristiana Romer, Larry Summers — advocated a World War II-like new level of federal indebtedness. They are now quietly back on Wall Street, back to their tenured academic perches, or considering departure. They remain either mum or in op-eds visibly confused about why a strong recovery did not follow a strong recession in the manner of all other postwar ups and downs.
(Excerpt) Read more at pajamasmedia.com ...
Victor Davis Hanson.
Thanks jsh3180.
Near recession ??
We're in depressiØn country, Vic !
Bump
Sort of? I hesitate to say, but do you know how many business are working ‘under the table’ or by barter now? Atlas has Shrugged, the PTBs just don’t realize it yet.
BTTT
Too many federal and local government interests did it. They’ll suck increasing amounts of debt out of the current, nonproductive system, until they can do it no more.
I think Obama blamed John Galt, too.
It IS kind of funny to hear the PTB spitting venom at the makers for not acting like everything is normal.
Yep, we are just waiting him out. The risk-reward equation is lousy at the present.
Like the independent contractor I got to install ceramic tile in my kitchen, hall ways and bath room because my old knees can't take that kind of stuff any more. I checked his references, got his written estimate and then asked him how much he would charge if I paid him in green backs and didn't need a receipt.
The difference in price was remarkable and I do not feel the slightest bit guilty about it either. I'm happy with his work and he's happy with what I paid him
Screw the crooked government tax system.
I would pay the old guy you describe twice as much as the ‘rate’. don’t even ask what we paid recently for a repair and floor restoration that turned out to be a crap job. I wish I found a Galt who cared about what he did.
You would make a great neighbor. LOL
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