What Ails Obama...Ails The Economy.

People have spoken to me about my Obama piece from last week.

Let me clarify....

Every response by the Obama Administration to counter the global credit crisis to this point has only served to worsen and exacerbate the current situation and has accomplished virtually nothing in rectifying what is first wrong with the banks (INSOLVENCY), and attacking the root cause of this crisis, which is an out of control, over leveraged, and overly complicated rotten to the core financial system. Hence, it is next to impossible to solve a problem and or crisis that has been decades and generations in the making by implementing the same plan, and enabling the same ones who got us in this mess. Why is so hard for everyone to understand this simply statement?

The reasons that Obama/Geithner/Treasury/Government will all fail the country are as follows: Drum Roll please.......

1-Obama originally voted for the first TARP of $700 Billion. So he had to come up with a similar plans once he was elected President. This was the same plan that did absolutely ZERO in fixing the credit system while transferring the wealth not to the people most effected by the crisis, but to the ones that were responsible in creating it. Obama must have known this when he was voting for it, but he signed off on it anyway...Case closed!

2-Not one central bank or government has come out with an intelligent plan to fix the crisis. Its just one hand out after another here in the States, and a race to Zero Rates everywhere else in the world. No single person or entity has thought of a plan to completely overhaul the financial system. The system is again...ROTTEN to the CORE! Who are which entity has the courage to level the financial system? So far Obama has shown no such courage nor does he have the fortitude to address the root problem.

3- There is too much emphasis on the Keynesian Economic Model of spending your way out of the crisis. You just cant keep on doing the same thing...expecting different results. That my friend is the definition of Insanity. Of course, you will have varied results over time, but any fix is 100% illusory, and will only delay the real recovery while destroying more wealth via inflation.

4- Do we even need to go into Obama's Cabinet appointments? Where is the change? Where are Oprah's tears? His appointments are the opposite of what we heard from him. It was just 100% rhetoric. Vote gathering. Tim Geithner pure and simple is a traitor to every man, women and child in this country the way he has handled the crisis so far. After further inspection of Obama's economic inner circle, it looks to be a Wall Street/Investment Banking Dream Team. Paul Volcker is high on Obama's eyes, this is the same person who suspended gold convertibility in 1971, a decision that left the global economies in the position of overvalued global currencies, thus setting the stage for whats happening today.

5- People are expecting to much from Obama. He cant do it all. Every time in history, we have put to much emphasis on one person to lift the masses, it has failed miserably. Maybe they were right about his experience.

6-Obama's anger over AIG bonuses are crocodile tears. He as well as Geithner knew that this type of behavior was going to happen, after all CT Democratic Senator Chris Dodd stuffed the original TARP with this amendment. You telling me, Obama was not acutely aware of these shenanigans? If Obama was truly trying to do something over these bonuses, why talk about it? just do it! The US Government clearly changed security laws when they suspended short selling (ABSURD) last year so that bank stocks can artificially rise, they could have easily hammered AIG, but they chose not to...Pure and Simple!

7- Tremendous Hypocrisy with regards to AIG bonuses and the bonuses given to former Merrill Lynch executives. Lets see...$165Million to AIG...the sky is falling! $3.6 Billion to ML, no big problem. Hey...I think both of these entities should be thrown into the wood chipper, but it is clear to me that Wall Street is favored more than AIG.

8- Remember the original bailout that was run by Paulson? It was merely 3 pages long with no supervision, the one that Obama signed? What has happened since is more of the same....no supervision, no due diligence...and more shenanigans. This is all on Obama.

What ails Barack Obama ails the economy. There is massive paralysis with the ones that are running the country. Everyone knows what the best course of action is, but they cant seem to pull the trigger on it. But there will come a time when there is no more hope and the best course of action may not help anymore.

I have been very harsh on Obama, a man I voted for, but this is the truth as I see it. You cant make up things that are true not only on the surface, but underneath the sheets.