If you’ve read my post High oil prices? Weak dollar? Blame Obama, you’ll see that a reader has decided to challenge me on a couple of my assertions. I started writing this as a reply to the comment, but the reply itself took on some dimensions that I thought would be worthy of a blog entry.
So, “Buh,” this post is for you!
Its Obama’s fault solely the dollar’s weak.
Is that a question? If so, my answer is thus: not entirely. A Democrat-controlled Congress aided and abetted. Then again, Democrats are simply doing what they did in 1992, and in 1976…and the results are the same.
If the line above is a proclamation, then at least you’re catching on.
However, Baby Doc Obama was the one who passed that idiotic stimulus bill.
He’s the one who urged Bush to bail-out GM.
He’s the one who shoved that health care mess down the throats of the American public, which has done NOTHING to lower health care costs, or reduce the deficit.
He’s the one who expanded welfare giveaways.
He’s the one who has done nothing to fix either Freddie Mac or Fannie Mae (in fact, there is a video of him – in 2005, I believe – listening to the incoming CEO of one of these institutions talking about how screwed up they are). You know, the two institutions that created the whole financial mess in the first place.
He’s the one who expanded CAFE regulations, and increased the cost of motor vehicles.
He’s the one who is virtually having sex with Wall Street fat-cats and financial sector lobbyists.
He’s the guy who hired a tax-cheat to run the IRS.
He’s the guy who deficit-spent more money in one year than Bush did in all eight of his administration (and fighting two wars, I might add), and talked about “PAYGO.”
And this is the guy who constantly criticizes the previous administration for being fiscally irresponsible. The difference is that at least the Bush folks knew that you actually need a functioning economy to float all of your outrageous spending. It seems the “think tank” of Baby Doc Obama can’t even figure that one out.
And when your economy sucks, and you’re spending money like a drunken sailor with nothing to show for it, no one wants to buy your dollars. At least with the Bush people we were able to fight two wars (one of them we won, and the other we also won until we handed it to NATO – a subject I could go on about for pages and pages) and have a good economy to boot.
So, in the event your aforementioned sentence was a question, does this clarify why this is all Obama’s fault, or do I need to illustrate further?
EURUSD was less favorable under Bush for a long period of time. In fact, only the liquidity crisis snapped that back to saner levels.
Ummmm…no. The Euro was a bubble from the outset. It was hyped by the Thomas Friedman types, who claimed that Europe was an economic giant who was just awakening.
Of course, people like me (who work with Europeans on a continual basis) knew better. We knew that an assemblage of socialist states with huge, inefficient bureaucracies that don’t really manufacture anything, deciding to form a uber-socialist state with an even bigger, intrusive bureaucracy was only going to do one thing: proliferate a disaster.
Poof! I’m being proved right. I think the biggest tell that things were amiss is when the Europeans had to seed companies and facilities in the US in order to make a profit…just like what we’re doing in China and Latin America.
See how that works?
Second, Canada’s dollar has surged against the US dollar because they drill for oil, and sell it to us…who choose not to drill for oil. Poof! Their currency is now viable.
And, of course, it is important to point out that Canada is being run by conservatives these days. Shazam! They have a strong economy! Amazing how that happens…
The basic construct of any bubble is people assuming that “intellectuals” in specific areas – say, economics – are correct when they claim that black is actually white, up is really down, and that socialism works despite the fact that it has destroyed just about every economy it touches. Now those same morons are hyping China’s “state capitalism,” which is merely a re-packaged form of Nazi-style Fascism where the state dictates what capitalist gets to make what product, and how much profit they can accrue.
Then again, similar intellectuals marveled at Nazi Germany back in the 30’s for the same reason. That was up until they started invading people, and doing that whole genocide thingie. Then they had to go marvel at the USSR.
The more things change, the more they stay the same.
Obama’s been horrible for the dollar, but the reality is most people on the internet are more interested in backing their horse than looking for reality; unknownconservative, I salute you for realizing correctly that the problem with the world is nothing but liberalism. You sure prove you know how to look at everything from a very one sided prism. Why, if Stalin ran as a Republican against Obama, you’d probably vote for him, too.
First, Stalin would only run against Obama in the Democrat primaries, and both he and Baby Doc Obama are Marxists. I don’t generally vote Democrat because – as we saw in 1976, 1992, and now – they destroy economies when the get into power. Then again, the only reason why I mostly vote Republican is that they suck less than the alternatives: Democrats, because they are a bunch of power-hungry Marxists, and Libertarians because they never win elections. Find for me a party that holds true to the principles of the Founding Fathers, and can actually field a candidate that will win and election, and I’ll vote otherwise.
Second, the only horse I “back” is one that will let me choose my own destiny. If I let an idiot like Baby Doc Obama do that for me, I’ll be standing in a bread line.
And yes, I look at life from a very narrow view. That’s what happens when you finally grow up and realize that there is no free lunch, and there is truly very little new under the sun. All of this Keynesian and Marxist stuff was a great concept until their abysmal track records became horribly apparent. History can be a wonderful guide in knowing what NOT to do. Too bad Baby Doc Obama and his commie friends (meaning virtually all of the Democrat party) choose not to use history and prior performance as a guide to their policies and actions.
The fact is, this nation came in to prominence, and was able to win two World Wars was because our capitalist system of economics, and our penchant for letting the individual choose their destiny and position in the country; it made us an all-around powerhouse to be admired and feared. The people who brought us to the pinnacle of economic and military dominance didn’t have free health care, didn’t get unemployment insurance, and certainly didn’t have the government picking winners and losers for them. Consequently, they didn’t have to face a mountain of regulations to overcome in order to make decent living.
They were called “adults.” And adults take responsibility for their actions, are responsible for the well being of people who rely upon them, and look to leave behind more than what they took from the world.
Contrast this with the way that most modern liberals think: that most people are children, and the government needs to take care of them. The result? The decline of America, and all of the peripheral degradations that go along with it. This includes the decline of the dollar, the general economic malaise we’re seeing, and the diminishing of the once proud light of relative freedom that was a beacon to the world.
It was admiration of those same American adults –bitterly clinging to their guns and religion – that got us the Statue of Liberty in the first place.
Were these “adults” perfect? No. Were they more perfect than the adults of the monarchies and socialist fiefdoms across the world? You frickin’ bet! Ask anyone who lived in the Soviet Union, where everyone had a “fundamental right” to housing and food…just ignore the breadlines and gulags. Or any of the successful people who have fled to this country from Europe, because their socialized society does not tolerate people who think differently than what society – or the state – prefers.
Liberal notions are for children, because they are easy. Easy to understand, easy to implement, and easy to excuse when they fall down. It’s easy to sit around and let other people make decisions for you, and support you. It is easy to let the state “give” you a home to live in, and food for your table. It doesn’t really take a lot of effort. That’s what most modern liberals / “progressives” support, and do so openly. It is liberals and “progressives” that embrace Marxism, embrace Keynesian economics, multi-culturalism (buh-bye melting pot), state-run “capitalism,” open borders, political correctness, affirmative action, and all of the other idiotic stuff that has been nothing but a disaster for this nation. That’s because they are simple concepts that a child could easily embrace. An adult quickly realizes that the prior concepts are nothing but a bunch of feel-good-about-ourselves crap that cause WAY more harm than good.
Perhaps you too will learn the beauty of adulthood, and reject these childish notions you obviously hold? We can only hope…
(P.S. – If 2008 had been a match-up between Hillary Clinton and John McCain, I would have voted for Clinton. Just thought you should know.)