Thursday, August 26, 2010

Poor Joe

You gotta feel sorry for poor Joe Biden. As VP, he is obligated to say whatever his boss wants him to say - and in most cases, that means lying through his teeth. You can actually see the pain in his face as he tries valiantly to spin bad news into a web of deceit.

But the first thing you learn in business school, or Economics 101 is - "the markets do not lie".

The market is down for the month. In fact, it is down for the year. Unemployment is still 9.6% - it has been 9.5% for a year. More layoffs each month. Sales of existing homes is down 27.2% - the worst in 15 years. Sales of new homes is also down dramatically. No one is spending. Businesses are not hiring.

And amid all of this, Poor Ol' Joe had to get in front of the press and read the teleprompter that said, "There's no doubt - we're heading in the right direction."

Joe, that statement would be true if you think the "right direction" is bankruptcy and socialism. Frankly, that is not what most Americans view as the right direction.

This is punctuated by the illogic of far-left liberal Mark Levine who said on O'Reilly tonight that both Reagan and Obama were left a terrible economy with high unemployment, and "if Reagan could turn it around in 3 years, so can Obama." What Mark conveniently overlooks is that Reagan went in one direction and Obama is going in the opposite direction. Hence, Obama cannot expect to end up in the same place.

Here is a little economic logic - if you follow a recipe word for word, you will get the same result every time. But if you change the recipe, you will not get the same result. To turn things around, Reagan cut taxes, cut spending and pushed hard for businesses to grow. Obama, on the other hand, is following a recipe of increasing taxes, increasing spending and hobbling business.

To Joe and Mark, and all other liberals incapable of understanding economics I would say, "Follow the recipe that works and stop screwing around with unworkable social experiments." Carter tried the social experiments which led to unemployment rates of over 10% and interest rates of almost 20%. FDR did the same, as did Wilson with the same result (see "recipe" statement). And now Obama is trying it yet again. As they say, the definition of insanity is doing the same thing over and over and expecting a different result each time.


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