Friday, June 10, 2011

Ah! The genius of Obama

is so resplendent that-

The government racked up $5.3 trillion in new fiscal obligations last year alone -- bringing the current unfunded tab for future expenses on things like Medicare, Social Security and military medical and retirement programs to a whopping $61.6 trillion, or $534,000 per American household.

Then there's today's bills: We're borrowing $125 billion a month that we have no hope of ever paying back on our current course.


The growth in GDP declined to a measly 1.8 percent in the first quarter of 2011 as consumers hung desperately onto their wallets. Job growth has completely collapsed. Fully 60 percent of the electorate thinks the country is on the wrong track. No wonder the daily economic briefing, once on a par with the intelligence briefing, has vanished from President Obama's schedule.


Heckuva job, guys.


And now Obama says he's not worried about a double-dip recession. Easy for him to say: For Americans not feeding at the government trough, the first recession never ended.

The above is from Michael A. Walsh whose article is appropriately titled Professor Disaster. We in India can understand as we are also suffering another academic in power, Dr. Manmohan Singh. For such academics, we the commoners are blocks to build the edifices of their (disastrous) social and economic theories and when the whole thingamajig collapses, as it always does, it ruffles not a hair of the professors' heads. Reality is too alien to those ensconced in the bubble of power. This is even more true of those that have entered that bubble from an even greater bubble -the hermetically sealed,close minded ivory towers of the academia.

In the faculty lounge inhabited by the president and his credentialed playmates, the economy is a controlled experiment, with manufacturers and consumers mere lab rats who cheerfully respond to the prodding of their ivory-tower betters, no matter how many taxes and regulations are piled onto their backs. 


Do catch it all. It is superb.

7 comments:

Kristen Heine said...

Hello! I hope you don't mind me leaving an off-topic comment! I found your blog through a link from 2010 posts about the Typominima theme.  I noticed that you added a comments count/link beneath each post on the main page, and was hoping you might be able to share the code/placement for that? I've been searching everywhere, without any other luck.  Thank you!!

libertynewscentral said...

Kristen,

see the comments at this post-
http://libertynewscentral.blogspot.com/2010/12/liberty-news-central-renews.html

The solution is there. Let me know if that works out for you.

libertynewscentral said...

Kristen,

direct link to the 1 COLUMN TYPOMINIMA FOR BLOGGER WITH TIME STAMP, AUTHOR STAMP, LABELS, POST COMMENT LINK ETC template you need-

http://www.mediafire.com/?048ttyp6u5tadt2

Kristen Heine said...

Thanks so much for the prompt response! I tried changing the code as suggestion, but it just said that the code was improperly formatted when I tried to publish.  Maybe it has to do with changes that I've already made to the template?? I'm just hoping to add the "0 comments" part.  Here's a link to my blog:  http://www.GhostsAsCocoons.blogspot.com

libertynewscentral said...

Kristen,
thanks for info. You are right about the "improperly formatted" error. See explanations in the comments and also see the Update 3 to the same post-
http://libertynewscentral.blogspot.com/2010/12/liberty-news-central-renews.html


If you would just like to add post comment link then try instructions in this text file-
http://www.mediafire.com/?ktm8hamkd1wabai


The code is not coming out well in the comments which is also the reason for the error you are getting.

nath said...

Hello,

The link is invalid or deleted file... someone has an updated link?

libertynewscentral said...

Kristen,
thanks for info. You are right about the "improperly formatted" error. See explanations in the comments and also see the Update 3 to the same post-
http://libertynewscentral.blogspot.com/2010/12/liberty-news-central-renews.html


If you would just like to add post comment link then try instructions in this text file-
http://www.mediafire.com/?ktm8hamkd1wabai


The code is not coming out well in the comments which is also the reason for the error you are getting.