Experts love to say that certain big companies and banks are “too big to fail.” The reality is our federal government is too big to succeed.
It’s all going down in flames for Obama- “the anointed one.” He has proven once again that government spending has failed miserably. The economy continues to crumble. Unemployment continues to rise (another 200,000+ announced today). The full (ie truthful) unemployment picture is now at a unimaginable 17%. Sales of cars- without the “Cash for Clunkers” giveaway- continue to collapse.
Banking experts know that a new wave of residential housing foreclosures is on the way. Worse, a complete collapse of commercial real estate is starting, as landlords of office buildings, strip malls, and shopping centers hand the keys to banks. How do I know? It’s happening now in Las Vegas- and we all know “what happens in Vegas, doesn’t stay in Vegas.”
Consumer spending is getting worse- small business owner friends of mine report sales are dropping off a cliff- the worst they’ve seen yet in this 2 year depression.
As the economic disaster deepens, the White House and Fed lie to us all and tell us that the recession is over. It’s either ignorance, delusion, irrational exuberance, or outright fabrication. You decide.
I believe the bad news above is a sign that not only is the recession not over, but the pain is deepening. We are not at the end, but rather only at the beginning. Before this is over, it will be called “The Great Depression II” in the history books. All of Obama’s big government intervention has failed. Worse, his irresponsible and incomprehensible spending has made it far worse. Government screws up everything it touches- only this time it is our economic future on the line.
And President Obama’s reaction to the dark storm clouds approaching? He chooses to fly off to Denmark to lobby for the Olympics. Huh? Is this man kidding? Think of all the wasted airplane fuel that will contribute to global warming- all for a one day trip to discuss…sports? What, no furor from liberal environmentalists? What a surprise.
My educated guess is that Obama and his cynical political advisors desperately needed this victory. They realized that Obama’s sinking polls needed an instant boost to stop the bleeding. Worse, they desperately NEEDED to be awarded a Chicago Olympics as a distraction for the masses because of what is coming down the road- economic Armageddon. But Obama’s latest weapon of mass distraction is now scuttled.
What would the Olympics have meant for Obama? More “Weapons of Mass Distraction.” More government spending of money we don’t have. More rip-off of American taxpayers and future generations of our children. More bribes and payoffs for Obama’s corrupt friends in Chicago. More overpaid jobs for Obama’s union cronies. And one giant distraction for those Americans too ignorant to understand that Rome is burning, while they are distracted by the pageantry of a meaningless Olympic event.
Well it didn’t happen. We got lucky. The world saved us from another event that would plunge us even further into insolvency and bankruptcy. Even Obama’s global fans are getting sick of “the Anointed One.” This Olympic rejection was an embarassing global slap in the face. The world just handed Obama the worst defeat of his Presidency. He must be in shock. My advice: Get used to it Mr. President- I have a gut instinct that far worse news is coming down the road.