Is America finally getting tired of the "big government" meme?
Are they finally figuring out that Washington is the only entity that could screw up a wet dream? (Ed: They'd probably do something like dream of a tax audit in the middle of the act!)
By 51 to 35, Americans say they're worse off than two years ago when Obama took office. Bloomberg tried to play this off as "not really so bad" compared to Reagan and Bush. But the issue here isn't so much about whether in comparison these numbers are "so bad." Rather, the question is given where we were, given the promises made, given the mood of the nation and the trouble we were in when Obama was elected in 2008, are these numbers credible evidence that the policies of Washington have worked?
That question is simple to answer: NO.
Remember, President Obama came to office with a simple set of promises: He promised to change Washington and the nation to align it with the people, not big corporations. He promised to favor the citizen over the bank.
Yet nearly his first act in office was to kneel before the banksters and fellate them by appointing Geithner to head Treasury, and then he did it again just a couple of months after inauguration by backing and in fact getting "mark to fantasy" - legalized accounting fraud - made the law of the land!
Like so many others, he bought hook, line and sinker into the argument that without "big" banks the nation could not "recover." That "Wall Street" had to be able to pay out over $100 billion in salary and bonuses in order to "lead" the recovery.
But this has done nothing to stabilize the fiscal financial situation. In point of fact, it has done the opposite. The so-called "temporary" fiscal disaster from Bush's last year has turned into a permanent one, with the deficit as a percentage of GDP into the double-digit range for three years running.
Whether Obama has bought into other people's lies or whether he has been intentionally complicit in spinning them isn't really material at this point in time. The fact of the matter is that campaigning for an office is very different from governing - but Obama apparently didn't learn that during his time as a community organizer - or as a Senator. All Presidents rely on their advisors, but all great Presidents need to know when they're pursuing something other than a straight-forward pursuit of the truth - and when to throw them all out of the Oval Office and make a decision that they won't like.
Obama knows none of this. I refuse to believe he's too stupid to understand the mathematics of debt and interest related to same. He may be ignorant, but ignorance is easily fixed - it requires only a desire to figure it out and, when some advisor comes with prescription, the willingness to demand they show their work.
That leaves something more serious, and it's bad news. If in fact Obama truly doesn't "get it" - that is, he really believes that he can spend and borrow his way out of the mess that the bankers got us into without forcing those organizations and individuals to go bust, clearing the bad debt, then his IQ is smaller than his shoe size. The only other alternative is that he's not a President - he is in fact a puppet servicing those bankers and willing to force you and I onto our knees - at gunpoint if necessary - to give them a low-down (and very obscene) "kiss" as well.
Americans across the political spectrum say the Fed shouldnt retain its current structure of independence. Asked if the central bank should be more accountable to Congress, left independent or abolished entirely, 39 percent said it should be held more accountable and 16 percent that it should be abolished. Only 37 percent favor the status quo.
Reality: The American People have figured out that the claims of "no inflation" are lies.
The list of abuses at The Fed is long and unbelievably odious. As I have previously documented there is good cause to believe that The Fed caused the crash in 2008 by pulling system liquidity. Given that Bernanke was, at the same time, part of the Paulson brigade threatening Congress, he had to know that this course of action could lead to a market collapse. He did what he did - that's a matter of record. The market's response is also a matter of record.
This is not to say that Lehman, AIG, Fannie and Freddie were not insolvent. They were. But so were the other banks, and in point of fact everyone at The Fed, including Geithner at the time, had to know it. Citibank's own former chief underwriter has disclosed, as I have repeatedly reported, that by 2006 60% of their home loans were bogus and by 2007 80% were. The Fed is the primary supervisor of all of these "too big" banks, and yet it did nothing to regulate these entities.
When 80% of the loans you're making are trash, it is only a matter of time before it blows up in your face. The Fed knew that too, but didn't care. As Janet Tavakoli documented yesterday (and has been, along with myself and others, for years) this wasn't a matter of accident, it was and is a panoply of corrupt practices from top to bottom and to this very day not a damn thing has been done about it.
The simple fact of the matter is that if Obama wants to be considered even a moderately competent President he needs to start acting like one. Chief among the duties of a Chief Executive Officer of a nation is the duty to put a stop to any entity or group of entities that are looting the entire population through various corrupt practices - including, if necessary, the nation's Central Bank.
Nobody said being President was easy. It's not. It requires a sack and the willingness to use it.
All Obama seems to know how to do is preside over an increasingly-corrupt "government" that expends its strum and furor over trying to prevent the corruption within its ranks from being exposed.
In the 21st century, Mr. President, preventing that is impossible, just as it was with The Pentagon Papers and Nixon's mendacity. The public has had it with the BS and lies. Your choice is to either follow Nixon to disgrace or show us that you're actually a leader.
So far all you've done is snivel in the corner and lash out at people exposing your (and the previous) administration's lies . If that is to be your legacy you may as well resign now. While Biden would likely not do any better, he certainly couldn't do any worse.
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