Obama Failed Economy Policy:
1) Porkulous spending has not worked, has not created any new jobs, and has weakened the dollar in the world market. As Treasury attempts to secure over $65BB in new borrowing this week the probability of interest rates rising looms. The dollar continues its freefall against the Euro. According to June 9 (Bloomberg) – “Goldman Sachs Group Inc. advised buying the euro versus the dollar as risk aversion eases, prices of commodities rebound and talk of alternative reserve currencies undermine confidence in the greenback.” After interest rates rise the next step is hyperinflation.
2) As the US credit rating continues to fall, King BO continues to add to the deficit: 1. Monetize the debt and the stock market rises 2. The dollar continues to fall against the world’s currencies 3. Interest rates will begin to rise 4. The prestige of the United States continues to fall 5. Inflation continues to rise 6. The safety of US citizens continues to fall 7. The number of corporations being nationalized continues to rise ask King Obama. http://www.whitehouse.gov/
3) While the housing market continues to decline in value, BO wants to contract the market even more. His stimulus spending and continued attempts to reward the most irresponsible on the backs of those who meet their obligations is steering the United States into a pit of never ending debt.
4) The White House again is upside down when it comes to solving the nation’s economic needs. The Fed is going to devalue the dollar and possibly outlaw an individual’s ownership of gold where they can revalue paper money. According to Obama’s Council of Economic Advisors in March 2009 “The United States was on a gold standard throughout the Depression. Part of the explanation for why the Federal Reserve did so little to counter the financial panics and economic decline was that it was fighting to defend the gold standard and maintain the prevailing fixed exchange rate. In April 1933, Roosevelt temporarily suspended the convertibility to gold and let the dollar depreciate substantially. When we went back on gold at the new higher price, large quantities of gold flowed into the U.S. Treasury from abroad. These gold inflows serendipitously continued throughout the mid-1930s, as political tensions mounted in Europe and investors sought the safety of U.S. assets.” The Fed policies did not work in the 30’s and are not working now. Trade your paper money for GOLD then find a good hiding place for it.
5) After a failed negotiation by BO's select automotive panel to keep Chrysler out of bankruptcy and GM is given $15.4 billion in loans from the government, Obama said this. "The United States government has no interest in running GM. Your [GM] warranty will be safe. In fact, it will be safer than it's ever been, because starting today, the United States government will stand behind your warranty." -- King Obama
6) Instead of allowing Chrysler to declare bankruptcy in December, BO in order to protect the UAW and repay his campaign debt to the labor unions, convened a study group who were unsuccessful in negotiating a meaningful solution. Instead they divided Chrysler into sections owned mostly by the UAW and FIAT, partially by stockholders, U.S. taxpayers and partially by the Canadian government. Billions of deficit dollars have been squandered as the march to socialism continues. "The Governments of the United States and Canada have reviewed and approved the restructuring plans of Chrysler LLC and its subsidiaries, including Chrysler Canada Inc. As a result, thanks to the considerable contributions and sacrifices of company management, the United Auto Workers and Canadian Auto Workers, and major lenders, and a successful partnership agreement with Fiat SpA, our Governments are in a position to extend support to help Chrysler restructure itself and re-emerge as a globally competitive automaker." "We appreciate the close and cooperative relationship between the U.S. and Canadian governments during this period of restructuring in the auto industry. Together, we have put in place a financing package that will give Chrysler a chance to achieve financial viability,"
7) The DEMs caused mortgage and credit meltdown which revealed weakness in our banking system, put millions of people out of work, slashed 401K wealth by trillions of dollars, and gave King Obama an opportunity to make America a socialist country. Obama administration’s policies are not working and they are failing miserably.
8)The one sided trade agreement passed by and signed into law during the Clinton Administration is responsbile for jobs being lost to foreign countries. Obama pledged during his campaign to renegotiate these agreements and after a trip to Canada agreed to keep the status quo.
9) King Obama policy is to renegotiate mortgages for only those who purchased a house they could not afford. This policy will eventually ruin the home lending industry. There is no help for anyone who pays their mortgage on time and is not in any danger of foreclosure.
