White House Press Secretary Jay Carney: “Well, two things remain uncontestably true. The economy is vastly improved from what it was when Barack Obama was sworn into office as president. We were in economic free-fall. There were predictions that we were headed to the second Great Depression.
Obama was the one making those predictions, because he wanted to scare people into giving trillions away to his banker and union friends. He spent six months talking down the economy, and succeeded in convincing business that he really was going to FUBAR the US.
Wednesday, August 25, 2010
Intel CEO Otellini: U.S. faces looming tech decline, says Obama’s ‘Keynesian economics not working’
“Intel chief executive Paul Otellini offered a depressing set of observations about the economy and the Obama administration Monday evening, coupled with a dark commentary on the future of the technology industry if nothing changes,” Declan McCullagh reports for CNET. “Otellini’s remarks during dinner at the Technology Policy Institute’s Aspen Forum here amounted to a warning to the administration officials and assorted Capitol Hill aides in the audience: Unless government policies are altered, he predicted, ‘the next big thing will not be invented here. Jobs will not be created here.’”
Well, let’s see, gas is higher, utility rates are spiraling upward. there is no job creation, our nation’s debt has been spent to a point of crisis. Half of this nation is insisting on raising the taxes on the employers of this nation…….. Oh yeh, thanks B.O. we couldn’t have got here without you!!!! It should be noted, though, that is isn’t just Obama’s Keynesian economics which are not working , Keynesian economics only temporarily work. Eventually, all Keynesian styled economic plans will fail, because the public sector almost always makes less efficient decisions than the private sector. While there are a few exceptions, these are simply that exceptions to the rule and not the rule.
In Carney-vil Barker’s defense, he didn’t mention whose economy had vastly improved.
Keynesian economics will not work to fix our woes. Read this very good book:
http://www.amazon.com/Where-Keynes-Went-Wrong-Governments/dp/1604190175
It argues for; and then against Keynesian economics. Very lucid, non-partisan, and well thought through. Seriously it is a must read.
Jabberwocky.