posted on Mar, 31 2009 @ 08:54 AM
As long as Obama keeps listening to his so call "financial team" and he keeps trying to "fix" wall street while adding unsustainable debt to
already indebted nation and tax payer while forgetting that his priority was to create employment he will fail.
Obama Courting Disaster,
He proposes huge federal deficits from 2009 to 2011 to prop up domestic demand and break the negative feedback cycle of rising unemployment, falling
incomes and sinking consumer spending, while recapitalizing the banks to get credit flowing again.
But he forgets that how can he have the banks giving loans again when our money will end up oversea to begin with, while people still unemployed can
not afford and even pay for new line of credits.
This issue he has not even dare to address.
the President promises to borrow less in 2012, when he believes the economy will grow robustly again.
That is in the assumption that a miracle hits the nation and everybody has an income the banking system is fix and Wall street is booming, but forget
about the trillions in debt to get us there.
The meltdown was caused by three great forces—Chinese mercantilism, dysfunctional U.S. energy policies and Wall Street abuses.
Still we are no doing anything about our trade deficit, we still doing nothing for oil dependency and Wall street still gets rewarded for incompetence
at the expenses of tax payer money.
The future of America without the root problems been addressed.
However, as the economy recovers in 2010 and 2011, U.S. imports of Chinese goods and Middle East will oil expand significantly. When federal
stimulus spending subsides in 2012, either foreign lenders and banks finance another round of reckless U.S. consumer borrowing, or the demand for U.S.
made products will fall and the economy will fall back into recession.
Nothing but a continued vicious cycle and the American citizens woes forgotten.