“One of the ironies of Barack Obama's presidency is that he's considered anti-business. The reality is business has fared remarkably well under Obama, especially compared with many other constituencies that have struggled.”

Rick Newman
US News and World Report

Before there was Obama, there was an unwritten law of economics that said the performance of the stock market generally mirrored that of the underlying economy a few quarters down the road. In other words, if there was a nice pick up in the Dow Jones today, we’d most likely see GDP growth 6 months from now.

But this hasn’t been happening in the last 4 years. Sure, the market has come back from its lows of March 2009, but there have also been plenty of dips along the way. More importantly, the typical indicators of true economic health – GDP and Job growth have yet to appear.

How could this be?

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“I had imagined that by this point I would be pretty much secured in my life, paying my own way, maybe dating and starting my own family… but right now the best I can do is work for $10 an hour at a grocery store.”

David Morris
2011 College Graduate
Master’s Degree

There are a lot things wrong with today’s economy, but what’s happening to the American youth is not just wrong, it’s tragic.

About nine months ago, the Associated Press reported that 53% of Recent College Grads Are Jobless or Underemployedl.

How bad is 53%? Consider that the most recent government statistics reported that the black unemployment rate among 16-19 year old's was 39.4% staggering but far better than 53%.

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A few months ago I did a story called "4 Lessons American Voters Must Learn from Greece." Today we see things going from bad to worse in the once great empire and the words I wrote then are still true.

Sadly, Obama doesn't see it that way. In fact virtually everything he's proposing is exactly what the Greek politicians did over the last decade and led to today's economic apocalypse.

Let's hope I'm not sending this around again 6 months from now!

Dave

4 Lessons American Voters Must Learn from Greece

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Hello darkness, my old friend
I've come to talk with you again
Because a vision softly creeping

Left its seeds while I was sleeping
And the vision that was planted in my brain -- Still remains

Within the sound of silence

Paul Simon
The Sounds of Silence
1964

The debt deal gets done as an anxious national waits to hear from the major credit rating agencies to find out if our sovereign debt will lose its AAA rating.

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After weeks of wrangling with the Republicans over the debt ceiling, Vice President Joe Biden accused members of the Tea Party of having "acted like terrorists."

The comments came in a closed-door Democratic Caucus meeting after Rep. Mike Doyle (D-Pa.) reportedly said that "We have negotiated with terrorists. This small group of terrorists have made it impossible to spend any money."

The New York Daily News
August 1, 2011

Somewhere in Chicago Rahm Emanuel must be smiling as yet another made-for-TV national crisis has been averted through bold political leadership (sarcasm intentional).

Now comes the “Pundit Free-for-all” as the so-called experts in the media debate their favorite subject “who won?”

First of all, if you have a hard core lefty like Mike Doyle saying “This small group of terrorists have made it impossible to spend any money," it’s hard to call that a victory for tax and spend democrats who truly believe that the job of congress is to spend money we don’t have on things we don’t need.

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"The only reason this balanced approach isn’t on its way to becoming law right now is because a significant number of Republicans in Congress are insisting on a different approach -- a cuts-only approach -– an approach that doesn’t ask the wealthiest Americans or biggest corporations to contribute anything at all.

And because nothing is asked of those at the top of the income scale, such an approach would close the deficit only with more severe cuts to programs we all care about"

Barack Obama
July 25, 2011

Last night Obama came on TV and begged for action to resolve the impending credit downgrade of US Credit. That speech and all it's partisan rhetoric is as close as the man came to offering a plan.

In fact the only plan he has ever put in writing was a 10 year budget last spring that received zero votes in Harry's Reid's democrat senate. 

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“We’re at a point that the odds of having a downgrade make it pretty much inevitable. I see a downgrade as being inevitable."

Peter Cohan
July 25, 2011
Peter S. Cohan and Associates

Last night our beleaguered president foisted his way on to prime time TV and lied to the American people once again about the inevitable debt crisis -- that he created.

According to Obama, the downgrade of US debt can be avoided if the Congressional Tea Party Representatives simply ignore the will of the people who elected them and agree to raise taxes on job creators and believe his promise to make cuts he has never defined.

The Truth Hurts

With a few days left before the inevitable downgrade, it's worth taking a minute to review the key facts:

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"I'm telling you that the business community in this company is frightened to death of the weird political philosophy of the President of the United States. And until he's gone, everybody's going to be sitting on their thumbs."

Steve Wynn
CEO, Wynn Resorts
July 18, 2011

As I have been telling you for years, we have never had a president like Barack Obama. He speaks with unmitigated contempt about American Businesses, even the freaking Chamber of Commerce, as if they are somehow the enemy.

The fact is, he and his peeps are engaged in a 4-year campaign that might be well intentioned, but the bottom line is that he has scared the crap out of private sector businesses in investors in America.

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I have to hand it to Obama, he is the king of clever lines -- "Eat Our Peas." In three little words, he has reduced the incredibly brave arguments of John Boehner and all of the fiscal conservatives who are risking their political lives to save the United States to that of a impudent child who refuses to clean his plate -- how regal?

Meanwhile, Obama and his senate cronies keep pushing a budgetary menu that's about as healthy as Chicken Fried Steak, Home Fries, and an Ice Cream Sundae.

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As the once great Grecian Empire averts one more economic meltdown, there are a number of very valuable lessons that might prevent the United States from suffering the same fate.

1. The  “Socialist Democrat” economic model is a Ponzi Scheme that will ultimately collapse just like Greece has: It’s simply not possible to sustain an economy where one third of the population works for the government, the majority of workers belong to a labor union, and everyone receives generous entitlements that far exceed what they pay in taxes.

Although the US has been trending in this direction for decades, it is a matter of fact that since Obama became president we’ve moved toward Greece at hyper speed; consider these doomsday statistics:

• In 2010, 46.4% of American paid no income tax.
• America's wealthiest 25 percent pay 86 percent of total income taxes.
• The wealthiest 5 percent pay 60 percent of total income taxes.
• The amount of unfunded entitlements owed by the U.S. government has reached a record $61.6 trillion, which comes out to $534,000 per U.S. household
• In just the last ten years, the American Public’s dependence on money from the Government has grown a staggering 49%!
  (source: politifact.com)

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