I genuinely feel sorry for Barack Obama. As a political independent, it really didn’t matter to me who won back in November. I tend to view things from a more pragmatic stance, particularly when it comes to the immutable laws of economics. When observed in the context of history, political affiliations don’t seem to matter too much. Since we totally abandoned our monetary discipline in 1971, deficit spending, debt accumulation, and devaluation of the currency have transcended everything – political affiliations included. So as we begin a new era, I want to remind everyone of some old axioms – which still rule the day:
1) You don’t clean up spilled milk by spilling even more.
2) Actions have reactions and sometimes the reactions are not what you thought they’d be.
3) A nation cannot borrow and spend its way to prosperity.
4) Neither can a nation print its way to prosperity.
5) Government is the least efficient vehicle for implementing anything, but is unrivaled when it comes to destroying it.
Perhaps most importantly, 37 years of monetary imprudence is not undone in a month, six months, a year, or even a Presidential term. It doesn’t matter who you are, how good you are, or what party you belong to. Even if the mistakes stopped today, it would probably take the better part of a generation to recover from the debt and lack of productive output which currently encumbers us.
I will say that President Obama could have done both his credibility and the American taxpayer a huge favor by taking a pass on the lavish inauguration festivities. There is work to be done; the time for partying was in November. Now is the time to lead, roll up our sleeves and get to work. I will say that I am quite sure I’d be making the same comments had John McCain been sworn in today. Whether or not stocks are in a bear market is open for debate. However, the bear market in leadership in America shows no signs of ending.
[...] Business News wrote an interesting post today onHere’s a quick excerpt I genuinely feel sorry for Barack Obama. As a political independent, it really didn’t matter to me who won back in November. I tend to view things from a more pragmatic stance, particularly when it comes to the immutable laws of economics. When observed in the context of history, political affiliations don’t seem to matter too much. Since we totally abandoned our monetary discipline in 1971, deficit spending, debt accumulation, and devaluation of the currency have transcended everything – polit [...]
[...] Homeschool Facts About Homeschooling, Online Education, and Unschooling wrote an interesting post today onHere’s a quick excerpt I genuinely feel sorry for Barack Obama. As a political independent, it really didn’t matter to me who won back in November. I tend to view things from a more pragmatic stance, particularly when it comes to the immutable laws of economics. When observed in the context of history, political affiliations don’t seem to matter too much. Since we totally abandoned our monetary discipline in 1971, deficit spending, debt accumulation, and devaluation of the currency have transcended everything – polit [...]