Dumbo’s Economics, more on yesterday’s Scramble theme of Barack Obama’s economic ignorance. First up, from Robert R. Baker, American Thinker :
[President Franklin] Roosevelt responded to the recession he inherited with a combination of massive spending on new government programs and sweeping controls over private industry, (sound familiar?). His thinking was that government spending would get people back to work, and controls over private industry would end deflation. Rules and regulations over private industry were put in place designed, incredibly, to increase the prices of goods. The President and his advisors thought deflation was a cause of the recession. But of course it wasn’t a cause; it was a result.
Next, K.E. Campbell, American Thinker :
According to President Obama, his Administration’s anti-free-market, anti-business, and pro-union policies are not to blame for the high rate of involuntary unemployment. No, instead we are to believe a root cause of that problem is too much automation. In an interview on NBC News in response to a question about companies’ reluctance to hire, President Obama said:
“…There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and you use an ATM, you don’t go to a bank teller, or you go to the airport and you’re using a kiosk instead of checking in at the gate. So all these things have created changes…”
As a country, we are paying a tremendous price for the economic ignorance of this president and his ilk. Even basic economic principles, Econ 101 level stuff, apparently elude them.
The important economic metric is standard of living, which is essentially the value of all the stuff, or commodities, an individual consumes. The more valuable the stuff you able to consume, the higher your standard of living. By raising the cost of commodities, without making them more valuable, to consumer loses ability to consume other stuff.
Note, that four dollar a gallon gasoline, is no more valuable that dollar eighty gas. It takss just as far, but just costs more money. So every time Dim Won acts increase the cost of commodity, the standard of living goes down.
If your income is a dollar a day and potatoes cost a dollar a piece, your standard of living is one potato a day. On the other hand, if potatoes are two for a dollar, your standard of living is two potatoes a day.
If you are selling stuff, at dollar a potato must sell a dollar’s worth of stuff to buy on potato. However, if potatoes are two for a dollar, you need only sell fifty cents worth of stuff to buy one potato.
The end result of Obama’s economic policies is that consumers will have less ability to buy stuff and hence have lower standard of living. It that the hope for which you voted?
Ramble back, Eric rambled :
Obama: The latest example of how socialism doesn’t work no matter who’s in front: I note with interest, David’s Scamble, this morning, wherein he posts some quotes which portray Barack Obama as merely incompetent. This does seem to be the more accepted meme, and we’ll doubtless see more of it as it becomes ever increasingly obvious Obama is going to get his head handed him on election day. I suspect this will eventually be a popular meme of leftists looking to salvage something of their socialist mantra, which is now taking it on the chin with Obama.I, on the other hand am not nearly as inclined to be as generously sympathetic to Obama, as to label him a mere incompetent.
The Sharp Tack, Clarice Feldman, has chronicled Dim Won’s ignorance. It is hard to say whether Dumbo was born stupid, I doubt it, or plain just uneducated. I favor the latter theory. Obama is essentially a credentialed fool, and likely the most uneducated president in our history.. Remember is learning, and not credentialing which makes a person educated.
Kudos to Barney Frank, who’d have thunk, from Mike Lillis, Hill :
Citing his own brush with sexual scandal, Rep. Barney Frank (D-Mass.) said Tuesday that he’s in no position to judge the lurid actions of colleague Anthony Weiner.
“Given these circumstances, where I was myself engaged in activity I shouldn’t have been … I just don’t think it’s appropriate for me to set myself up as the judge of others,” Frank told reporters in the Capitol Tuesday.
Bitch of the day: Janice Hahn, the viral video which has California democrats enraged, video:
Good news, plumbing still does matter. Just when you thought the liberal blogo-sphere was past that only quaint traditional notion that a person was defined by his external plumbing and not some mythical, nebulous internal real self, along comes this, Bill Egnor, Fire Dog Lake :
Okay, short, and not so sweet. In less than a week two supposedly gay women have turned out to be middle aged white men. This is tragic for a lot of reasons. I can understand the fun and power of writing as someone else, hell for three years I wrote in the voice a talking dog so I do get it. The thing is if you are a guy, stop freaking writing as a woman and especially as a gay woman
An old-fashioned guy like myself might say that good writing is product of a good thought process.