October 31, 2009

The Economy Gives a Death Rattle and Obama Calls It a Sign of Recovery
The Gross Domestic Product (GDP) reportedly grew by 3.5 percent and Obama called it a sign that the economy is recovering. Nothing could be further from the truth. Unemployment is at a staggering 17 percent, personal income fell by half a percent, the savings rate is down and so is consumer confidence. While usually a lower savings rate means people are spending again; in this economy all it means is people can no longer afford to save and still make ends meet. So, one may wonder how the GDP went up a little bit.

The Obama administration has done absolutely nothing that would stimulate this economy. However, they have spent more than a trillion dollars that they don't have and simply printed virtually counterfeit money to pay for it. On top of that, Obama had a cash-for-clunkers scheme that artificially inflated the numbers. By the way, the car dealers are still waiting for their cash. Not only that, but the scheme caused car buyers to actually spend more for a car than they would have once dealers' inflated prices and the tax those consumers are going to have to pay on it next year.

Look for a resurrection of Carter-style hyper-inflation. This will hit an already damaged economy very hard; putting the proverbial stake through its heart. Obama and the democrats in congress are simply ghouls feeding off the dead carcass that was once the American economy. Like vampires, they spread their filth for generations to come.

Like a dead body that bloats from the gasses built up from its decomposition, Obama wants you to believe that it is a sign of health. The economy gave its death rattle, rigamortis will soon stiffen it and Obama will likely call it a sign of strength.

The graveyards of this Halloween should be marked by headstones for the economy, jobs, the American spirit and capitalism. None of this should come as a surprise to TLG regulars. It was foretold almost a year and a half ago in an open letter to Senator John McCain.

 

 

 

TLG

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