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The Great Mancession

http://mjperry.blogspot.com/2010/10/great-mancession-continues-yet-obama.html

PeakTrader said...

Winning election strategy?:

Most women, 90% of blacks, and two-thirds of other minorities.

Of course, the Democrats are competent at defending government and blaming the free market, while the Republicans are incompetent blaming government and defending the free market.

It seems to be just a matter of time before the country becomes like California.

Obama: Republicans Drove the Car into a Ditch
October 20th, 2010

Obama compared the country to a car Republicans drove into a ditch.

“We look up and Republicans are just standing there watching. We say, ‘come on down and help”’ Obama said. “But they just stand there and say ‘you’re not pushing hard enough.”

“Finally, we get the car out of the ditch and the Republicans tap us on the shoulder—they want the car,” Obama continued. “But we tell them you can’t have the keys because you don’t know how to drive.”

“If you want to go forward in a car, you put it in ‘D’; if you want to go backward, you put it in ‘R.’”

“The basis of their campaign is amnesia, but we haven’t got amnesia and we haven’t forgot how we got here.”

My comment: Dependence on government created the moral hazard of "too-big-to-fail." The government drove the car into the ditch, and the car is still in the ditch, because Obama's politicans-lawyers have been trying to help the economists at the Fed pull the car out.

The economy ran out of gas in 2008, after moving forward at optimal speed for several years.

Obama fills up the tank, gets in the car, puts one foot on the brake and the other foot on the accelerator, and we've been slowly moving forward for about two years.

So, Obama believes he should keep the keys, because he knows how to drive.

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Similar to Social Security and Medicare, the course has been set to force the American people to become more and more dependent on government for less and less.

Also, Obama's economic policies have generally been expensive and ineffective, or even counterproductive. Consequently, the economy is now too weak to respond to a severe negative shock.