Obama and The Economy……”You don’t need a Weatherman to Know Which Way The wind Blows”
“You don’t need a Weatherman to Know Which Way The wind Blows”…BOB DYLAN, “Subterranean Homesick Blues”
BEIJING – President Barack Obama says he’s worried that spending too much money to help revive the economy could undermine a fragile U.S. recovery and throw the economy into a double-dip recession.
That’s when the economy begins to recover briefly from a recession only to be dragged back under. Obama told Fox News in an interview Wednesday that his administration is weighing tax breaks that could encourage businesses to begin hiring again.
But he added that it’s important to recognize that if the nation keeps adding to deficit spending through tax cuts or more stimulus spending, at some point people could lose confidence in the U.S. economy and that could “lead to a double-dip recession.”
Obama saved the banks and the bankers, everyone else he let down. The purpose of the economy is not banks; the purpose of the economy is not the stock market. The purpose of the economy is JOBS. The fierce urgency of now should not be applied to banks, nor graduates of Harvard Law School, but the workers of America.
JOBS are the lifeblood of democracy. All that TARP money, all that money spent on AIG should have been for Job Retention. There should have been grants to manufacturing companies to retain workers, just flat out grants rather than squandering resources bailing AIG out.
Now I will put on my futurist hat; at 15% National Unemployment, we will be Weimar, Germany. There will be a grievous social crisis;neither the plutocrats nor their children will be safe. The plutocrats won’t be able to hire enough security guards to quell the anger in this country. For the anger will not come from Anarchists, but from the people who believed in the American Compact of Fair Play and were violated.
The police will not be able to contain this anger, and its manifestations. So the linchpin will be the National Guard. Now, thanks to our insane military policy in Iraq, we have a bloodied National Guard. So they will fire.
The question will be, will the National Guard, comprised of the working class, fire on the people? or on the plutocrats? The National Guardsmen come from the ranks of the jobless; will they be White Cossacks? and fire on the rioting jobless? or Red Cossacks? and fire on the plutocrats who caused this disaster?
JOBS IN MICHIGAN- http://gerrymaxeyworkshop.com/blogging/?p=1357
Obama Saves The Bankers-http://gerrymaxeyworkshop.com/blogging/?p=1344
JOBS IN AMERICA-http://gerrymaxeyworkshop.com/blogging/?p=2394
“Florida’s unemployment rate continued its steady upward climb in October to 11.2 percent — a mark last seen in the 1970s and a tenth of a percentage point higher than September’s adjusted rate, state officials said Friday.”
“ California’s unemployment rate rose to 12.5 percent in October to set another modern record, “
“New York’s unemployment rate edged up to 9 percent in October, the highest rate since April 1983, the New York State Department of Labor reported Thursday. The state lost 12,700 private sector jobs in October.”
“Nov. 20 (Bloomberg) — California, Delaware, South Carolina and Florida registered record rates of unemployment in October as weakness in the labor market stretches from coast to coast and limits the economic recovery.Joblessness rose in 29 U.S. states last month compared with 22 in September, the Labor Department said today in Washington. Michigan had the highest jobless rate at 15.1 percent, followed by Nevada at 13 percent and Rhode Island at 12.9 percent.”
Tags: AIG, American Compact of Fair Play, Anarchists, Banks, BOB DYLAN, California, JOBS, Michigan, National Guard, Plutocrats, President Obama, Stock Market, Subterranean Homesick Blues, TARP, UNEMPLOYMENT