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Laffer: Obamas Train Wreck Ahead

Laffer: Obamas Train Wreck Ahead – HUMAN EVENTS.

Keynesian and monetarist economic policies are terrible, we ought to know that by now just from Soetoro’s “stimulus” package  (hich did nothing to arrest unemployment, but possibly made it worse as we are well over 10% and climbing) and the Fed’s ludicrous money printing.  Had we left things alone, it might not be this high.
Banks are still skittish to lend out and there’s a reason for that:  capital has not been built up to support whatever lines of production the banks would help enable.  The Fed has flooded banks with money, and TARPed many of them.  The fiscal stimulus was nothing but pork bait-and-switch, but it also took $1 trillion of current and future capital away from the private sector.  So, while the banks may have money to loan, it doesn’t mean the American people have money to spend/consume, or even want to take the risk to do so.  This happens time and time and time again with Keynes and monetary policies.
And that’s the current environment.  Upcoming are the massive tax increases this president is recommending.  Investors are not fools and they see the Tsunami coming and are not willing to invest in the U.S.  We don’t even have to think about the massive government regulation also possible, especially with cap-and-trade and healthcare costs as well as the lawsuits that are just about to hit thanks to Lilly-Ledbetter.
Art Laffer says it best when he said the following of Soetoro:
“…Unfortunately, everything that he is doing in economics is exactly wrong. He is a crappy president,” Laffer said…”

President Soetoro has done not one thing that would help the economy grow.  He has not helped reduce the costs of goods sold, or helped create a business friendly environment, and is hell bent on punishing every single wage earner in the nation within a year.

2009 was bad, 2010 will be as well.  But 2011 will be catastrophic.


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