Obama is a great salesman – he should be more dilligent with his promises

Obama promised in a town hall meeting that the stimulus package has the right size – well since then can anyone in DC see the future or claim that they understand economics. With all due respect Mr. president but you have no one in your team who might be that smart rather the opposite as I hear they want to lead GM and Chrysler into bankruptcy to get their 17 bil back makes me think your even more stupid than the Bush administration and its hard to beat them. Throwing trillions at banks which will likely never return and bankrupting the car maker for ridiculous 20 bil is the most pathetic thing they could have announced. Actually the argument just to make sure they are first to get the money back is as stupid as it gets since they have to throw another 50 bil. into that problem and will never get a dime back. Declaring bankruptcy is the wrong course as half of GM’s turnover comes from overseas and bankruptcy will smash those sales and have more harm than do any good for taxpayers. Chrysler is a bit different as 3 car makers are one to much and C. is the one which has too go and some healthy parts have to be merged with Ford or GM to keep a healthy car industry after all.
Britain’s secretary of state said it last week what everyone has to do a second industrial revolution which was meant for Britain is the only thing which can be done for America as well. Obama praised the scope of his stimulus but I got to say building bridges and roads is a good investment for a nation for 2 years but that are not sustainable jobs. America has to bring back manufacturing from China and Indonesia is the only chance to generate real jobs. Globalisation is over and has failed even bankrupted the world economy as we can see right now. Manufacturing back to America brings the trade deficit down and will raise prices for some goods as they might be more expensive – that’s the ideal version but will not happen as the international companies will not like the idea as profits will be limited so their lobbyists will push for a different path.
Coming back to Obama and his promises 800 bil with half of it tax based which will have a limited stimulus effect and definitely never create 3-4 mil. jobs. That’s a promise he will never be able to live up too and I am not sure why he does tell such fairy tails as he should be smart enough to see the dimension of the problems even without economic training. It kind of reminds me of Bush senior with his famous ‘read my lips’ statement may he be in a wishful thinking the spirit cheerleader role is something a president has to be but he has to do it with faith and based on dilligent decisipons. Its hard to say all I know is that he is ring fenced by the wrong economic ad visors with Summers even Volcker especially Geithner are not the people to get America back on track – but that APPEARS TO BE A PROBLEM FOR MOST PARTS OF THE WORLD. Most of them work for the dark side to put it into ‘Star Wars’ terms – where are the Jedi’s we need plenty of them.


~ by behindthematrix on February 14, 2009.

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