America's Worst Economic Depression by Robert M Davidson

Author:Robert M Davidson
Language: eng
Format: mobi
Published: 2019-10-17T16:00:00+00:00

He had an $800 billion stimulus bill and only three percent of that went to roads and highways. Only three percent total went to any construction on military. So the rest of the remaining ninety-four percent of it I just throw into one big category – social engineering. [clv]

Obama's penchant for borrowing in his private life carries over to his public life. He gave the Congress virtually free rein in writing the huge stimulus bill. He had no reservations whatsoever about the country assuming so much debt. Other Presidents have tried to work out compromises on spending measures since it is ultimately the President who takes responsibility for the consequences…. President Obama has never faced consequences in his private life when it comes to managing money. He always had enough money simply by borrowing more and more. [clvi]

Our analysis leads us to believe that recovery is only sound if it does come from itself. For any revival which is merely due to artificial stimulus leaves part of the work of depression undone and adds, to an undigested remnant of maladjustments, new maladjustments on its own. [clvii]

There was a second "benefit" from the US government's financial stake in most of America's lenders through this 2009 Reinvestment Act. That was an assurance that these banks and lenders would not allow the default on any of their over-leveraged commercial real estate loans. This must have been a secretive pact or understanding between these lenders and the President's inner circle.

You're intelligent enough to know that this policy is more consistent with Socialism, though actually and as you'll learn about still more in your reading, it's like the policies shaped by Karl Marx and Friedrich Engels in the mid-1800s that we know as Marxism. In fact, this has been a growing trend in our country since World War II's end and has reached warp speed recently.

[clviii] Does it surprise you that this "secretive pact" undermines America's foundational and fundamental greatness, our Capitalistic system of commerce, for which most of the world has held us in high regard? Can you imagine how badly such actions shackle our free markets and our founder’s democratic experiment?

With the Budget Control Act of 2011 in August of that year, Obama with the Congress’ approval increased the American debt ceiling by another "mere" trillion to the new cap of $16.4 trillion. This latest "lifeline" was expected to extend our borrowing needs well into 2013, but it’s already expended. Are you surprised?

Analysts from the Bipartisan Policy Center projected that the United States will hit its $16.4 trillion debt ceiling between late November 2012 and early January 2013 due to lower-than-expected corporate tax revenues and the recent extension of the payroll tax holiday . [clix]

In April of his first year, President Obama had our Labor Department's Bureau of Labor Statistics (BLS) redefine how unemployment numbers are calculated. Obama has been lowering the Civilian Labor Force Participation Rate. You're intelligent to know that this action understates how many total unemployed persons there are in America with each reporting period.

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