The Failures of Obama

Today's news is littered with specific examples of the failures of Obama's economic policies. It is now about 15 months AFTER the passage of the purported "stimulus bill" of the Obama-Pelosi-Ried axis . That is plenty of time for all lags in its effects. And what so we see ? Nothing but a whimpering economy with huge numbers of unemployed and underemployed people, scrapping to find or create work. Now there's nothing wrong with that - that shows the nobility of the American people, their work ethic and the entrepreneurial spirit.

BUT for spending almost $1 trillion, one would expect - demand - solid successes. What does the US have to show for that $1 trillion ? Almost nothing. Why ? Because it was frittered away and wasted on the politically favored. Do we have new rail networks being built or refurbished to save energy and provided infrastructure to move people and exports goods ? Nope. What about America's ports ? Are they getting infrastructure support ? Nope. How about high speed Internet for help our people become more globally connected ? Nope. A modernized air traffic control system ? Nope. The tale of lost opportunities is endless.

Here are a few examples from the WSJ of proof that Obama is a cluster FUBAR for the American people:

Joblessness Hits the Pulpit
More Churches Lay Off Clergy as Donations Drop; Few Get Severance Benefits

States' Tax Collections Falter, Widening Budget Gaps
April tax collections are falling short of forecasts and even dropping below last year's depressed levels in a number of states, complicating budget troubles and prompting some governors to dip into rainy-day funds. Following several months of modest improvement, the weak April revenue numbers are disappointing for states that hoped for economic recovery soon.

Census Takers Provide Early Snapshot of U.S.
Many of Bureau's Workers Hold Advanced Degrees, Showing State of Economy
... Thanks to double-digit unemployment and battered retirement plans, unusually high numbers of people with advanced degrees and top-level management experience have applied for temporary census jobs, many of which pay $10 to $25 an hour depending on level and location.

Auction Highlights a Drop in U.S. Capacity
MOBILE, Ala.—The slow unraveling of a piece of the U.S. economy was visible last week on the waterfront of this port city as much of what was left of Bender Shipbuilding & Repair Co. went on the auction block. More than 2,500 "lots" were laid out on the floor of one of Bender's faded buildings and on the ground outside. Items ranging from bundles of chain hoists to a 700-ton machine for bending steel girders were up for sale. ... Sitting on a giant metal valve slated for auction, he said he worries that if more shipbuilders like him go out of business, he'll have a harder time getting the supplies he needs. "The guy who's making this," he said, rapping his knuckles on the valve. "I don't know where he's going to be" if there aren't enough customers.

So what to do ?

The Tea parties seems to be successful in targeting some incuments, BUT to me they might be being co-opted by big mouth demagogues with foolish conspiratorial ideas. The people's misdirected anger is frittering away the opportunity of a generation for real change. In the anger of the 1970s was born the tax cut movement and Ronald Reagan. What do we see now ? Tea party people in partnership with socialist Bernie Sanders of Vermont in attacking the Federal Reserve. Shades of the old John Birch Society villain list - the CFR. Sheesh, good people are being duped too easily, perhaps from not knowing enough history.

A couple HS friends and I are starting a new not-for-profit corporation to try to re-direct the energy of the American people to more productive, positive efforts. I'll write more later when the entity is officially formed. To me, it's self-evident that the wealth of America is our own people; what we have and do with our current human, economic and physical assets will determine our future. There is no magic bullet or free lunch ... or free money from DC. We have what we do and make by ourselves. Period.

Actions

On Friday Krypto bought her first slug of stocks (US, Europe and Emerging market index funds) with money from selling some TIPS. Now, patience. On significant further declines, Krypto will buy more from TIP sales.

Sky intends to buy some CLF soon. It's pulled back a lot and being an American company, does not have the risks inherent in BHP or FCX. Also, it is more likely a takeover target, not an acquiror.

Word of the Day

"Refractory" - adjective and noun [$10]
Refractory means (adjective) 1. stubborn, unmanageable, rebellious; 2. a. (of a wound, disease, etc.) not yielding to treatment; 2. b. (of a person, etc.) resistant to infection; 2. c. (of a substance) hard to use or work; (noun) a substance especially resistant to corrosion, heat, etc.
Sentence: Pundits are now calling America's employment problem a refractory, long term problem; but that's just foolish when no real efforts have been made and more anti-jobs government taxes and mandates are still being imposed.