Larry Kudlow is an eternal optimist among economic thinkers. So it is a bit sobering to read his latest analysis from Real Clear Politics in which he asks whether America’s best days are behind us. After all, if you look at the numbers that we are getting month after month after month, it is very hard to have much hopey changey for the future.
But in the long run there is the chance that the American people have learned their lesson the hard way and that at the very next opportunity they will fire the Dumb Bastard in the White House and replace him, along with as many Democrats and liberals as possible, with conservatives who will reverse course and get our country back on track. But the destruction in the meantime is getting very disheartening indeed.
On a related note, I just was watching a bit of “60 Minutes” on CNBC and I have to say that it made me very, very angry. Not for the reasons you might think. I don’t normally watch much of the Elite Media Monoculture’s news because we all know just how biased they are.
But this particular report wasn’t overtly cheerleading for Obama as you might expect, and the bias of the MSM doesn’t really surprise or shock me any longer in any event. In fact, Obama wasn’t mentioned at all in this report. And that was perhaps the point. Because the story was about the horrible economic conditions in a town in Ohio and all of the unfortunate people there who have lost homes, businesses and jobs during The Golden Age of Hope and Change. It was really heartbreaking to watch all of these good people suffering under the yoke of the Obama-Fuhrer’s socialist utopia. Lives destroyed; families destroyed, futures destroyed. People at the end of their lives seeing their dreams go up in smoke.
But the Dumb Bastard keeps golfing and going on vacation just the same. One would think that there is only so much lobster and caviar that one can stuff into one’s pie hole while millions of Americans are using food stamps to buy hamburger helper. But I guess not.
It is important for you, the reader, to understand that Obama is not going to change. No amount of your suffering will keep him from having parties and spending your money while your life goes down the toilet. Remember that he doesn’t care about you at all. You are nothing to him but a bitter clinger. He isn’t thinking about you, and he never will.
It really is up to us. This next election will determine where we are going to go. Will we race off of the cliff or will we turn around and avoid the destruction of the country. Please, if you voted for him last time around, don’t make that mistake again.
During the Bush years, the federal government increased from 18 percent of GDP to 21 percent. The debt went up $2.5 trillion, from roughly 32 percent of GDP to 40 percent. And now, during the Obama period, spending has moved even higher, to at least 24 percent of the economy, while total federal debt has ballooned to nearly 100 percent of GDP.
It’s almost a mirror image — the expansion of the public sector and the decline of the private sector. This is completely inimical to the American peacetime experience. And it forces us to think seriously about whether we are losing our world economic leadership. Are we? And if so, does this loss of economic leadership threaten our national security and foreign policy stature?
And while jobs, the economy and stocks have slumped over the past 10 years, the dollar has dropped 37 percent, and gold has increased by nearly 500 percent, from $250 to nearly $1,900 an ounce.
We don’t have the kind of inflation today that we experienced in the 1970s. But it is certainly worth noting that a collapsing currency and a skyrocketing gold price are key barometers of a loss of confidence in the American economic story.
