No, the headline today was not that Obama plans to celebrate the Lehman collapse (and his inadequate response to it), it was this:
Obama to tout economy while marking Lehman fall <link>
But it may as well have been “celebrate” because the Lehman collapse occurred in September 2008, just as McCain and Palin were surging in the polls, and arguably contributed to Obama’s improbable election as a mysterious Manchurian candidate who “at least was not from George Bush’s party” (such a great reason to elect a man whose formative years were in Indonesia surrounded by anti-colonialist and anti-capitalist family friends!!).
Anyway, part of Obama’s Orwellian oratory this week will include the following:
“We came in, stabilized the situation,” Obama told ABC’s “This Week” in an interview broadcast Sunday. He cited 42 months in a row of growth, 7½ million jobs created and a revitalized auto industry.
“The banking system works. It is giving loans to companies who can get credit. And so we have seen, I think undoubtedly, progress across the board,” he said.
The truth, of course, is very much the opposite of what this man proclaims.
First of all, he didn’t “stabilize the economy” when he began occupying the White House — no, what he stabilized was Wall Street bonuses.
Yes, banker bonuses were paid, in full with tax-payer money, in 2008, and in 2009, and in 2010, and in 2011, and in 2012, and in 2013.
Very stable indeed, thanks to Barack Obama, so-called hero of the 99%. Whose side is he on? The Politburo and its wealthy patrons.
Second of all, any lift in the economy has occurred via a Federal Reserve who has manufactured dollars to the point of horror, keeping interest rates at near-zero for years while simultaneously buying trillions of dollars of treasury bonds to suppress long term rates (“quantitative easing”). Rampant inflation, which would be the normal outcome of such pump-priming, has not (yet) occurred, presumably because the money found its way into banks and financial institutions who in fact have not lent it, and a higher stock market instead of in another consumer spending spree.
Third of all,
Despite job growth, the unemployment rate remains high at 7.3 percent. Though the rate has fallen, one of the reasons is because some people have dropped out of the labor force and no longer are counted as job seekers. The share of unemployed workers who have been unemployed for more than six months is more than double what it was in 2007 before the recession began.
That last sentence should be front-page news across the country, but the Liberal media actively buries it on a daily basis.
Are Americans fooled by mr. Obama regarding his torture-treatment of the economy?
But the public is not convinced that the economy is on the mend. Only one-third say the economic system is more secure now than in 2008, and 52 percent say they disapprove of Obama’s handling of the economy, according to a Pew Research Center poll.
This is good news: America’s heart is still beating despite the Obama heart-worm being coiled around it.