Here is a roundup of economic news. Not good.
Face it: 1.8 percent growth is abysmal. It is almost flat and when combined with rising taxes, inflation and insane levels of local, state and federal spending it is a “recipe for disaster.”
This is the breakdown….note that the economy appears weak enough that “public sector spending” is keeping it afloat, and when removed it fails. Like some types of medicine that have to be administered or you fail…except that in this case administering the medicine (public sector spending) causes the failure over time.
This is a good quote:
“This is serious kids. You are witnessing a historical watershed moment. 2011 will be recalled as the year the dollar died. The spiraling cost of oil, along with other commodities like gold and silver, is a visible sign of our economic peril. And Obama’s prescription for this impending disaster? Getting rid of subsidies intended to encourage the production of oil. What an idiot!!”
Johnson is talking about a number of patterns shown by this administration: One is doing just about anything to discourage domestic oil production while throwing money at less efficient “green” technology. Another pattern is playing to the lefty galleries…it sounds good to them to remove demon subsidies from hated Big Oil…even when the action has the opposite of intended effect. A third pattern is a form of deafness. Liberal Democrats and lefties simply will not listen. A sample conversation:
US: “You can’t spend yourself into prosperity!”
Them: “Oh yes you can!”
So here we are. Unemployment over 10 percent and apparently rising while growth is declining (3.6 down to 1.8) . Domestic gas production declining in the face of skyrocketing prices. No nuclear (especially thorium) or even coal while money is spent on bird and bat killing wind turbines and solar that needs acre size collectors. Inflation starting to rise drastically and money being printed. Taxes up, and government spending up while revenues fall.
We need a real fiscal conservative Republican in office, now. But most Republicans are part of the problem, not the solution. We are going to have to take the checkbook away from these people and start cutting government agencies. For that we have to go back in our history to a time when people had to do for themselves and not wait for Uncle Sugar to take care of it.