Oh boy, we’re beginning to wonder if Mr. Obama’s brain has turned to kitty litter, the way he tosses off improving economic numbers as if they’re really true. In Mr. Obama’s neighborhood, we turned the corner a while back and everything is looking rosy now. Sure, there are still a few wrinkles to iron out before everything is completely shipshape but we’re almost there.
Holy flying squirrels, what the hell economy is he looking at? Is he flashing on Oliver Stone’s original Wall Street back in the 1980s? Here’s what we see.
First, Tim Geithner, perhaps the most feeble excuse for a Treasury Secretary in the history of humanity, implied that economic activity had ground to a complete halt until Mr. Obama assumed office, and it was only bold government action that prevented another Great Depression and either saved or created 1.5 million jobs. The original claim was that the president created the jobs but, after a dose of reality, they started saying jobs were saved, which is much harder to prove or disprove. The truth is that almost every economic indicator from transport to unemployment to retail sales has been taking a steady plunge, almost as if no one’s at the helm at all. Later still, the administration changed the jobs measure definition to those “funded” by the stimulus program.
Then Mr. Obama claims, “No one wants banks making the kinds of risky loans that got us into this situation in the first place.” All well and good except he has an apparent reality blip later when asking bankers to take “third and fourth looks” at rejected business applications. They’ve already taken two, decided the risk wasn’t worth it, and you basically claim their review process to be incompetent. And ever since, he’s been hyper-active about encouraging more of the same kind of loans that got us into trouble in the first place.
Mr Community Organizer, what economy are you looking at?
The Creating Wealth Team
Flickr / SEIU International
