Obama Is Stupid!

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Obama Is Stupid!

Post by Admin on Wed Aug 10, 2011 11:13 pm

The "Historic President" an Economic Iliterate.

Bret Stephen recently wrote an article in the WSJ asking "Is Obama Smart?" His conclusion as stated in the last sentence of the article is that Obama is "a case study in stupid is as stupid does." If this is accurate, what makes Obama stupid? The answer is as simple as this, Obama is an economic illiterate.

The first concept one must understand when understanding what makes an economy tickis to know the difference between money and "wealth?" Wealth is not paper money, wealth is products or services, or the things that separate us from the cave men. While this sounds simple, most people don't understand this. You can't just print money and pass it out when the economy sours because if you do, you haven't created wealth or any new products or services, you've just bid up the prices of the things already out there. This is the definition of inflation. To print money or borrow infinite amounts is to create inflation by definition. Magic tricks like Tarp, Auto/Freddie/Fannie bailouts, Cash for Clunkers, and HAMP (mortgage assistance programs) are really not much more than disiguised methods of inflation where the governments prints money, passes it out, and waits for new evidence of weath. While some may argue that some of the money used for these things is taken from "rich" taxpayers and not printed out of thin air, this still makes someone poorer by at least the same amount it made those who recieved the benefits richer, so in the end and at best, it was a zero sum Marxist game of Robin Hood theft and redistribution. Nevertheless, most of this money if not all, will be borrowed and printed and this means inflation.

Inflation means higher prices and is really an "invisible" tax. The worst thing about inflation is that it is the worst form of tax because it hurts the poorest among us the most. It hurts the poor because they spend a higher percentage of their income on necessities like food and heat and therefor when the prices of these things go up they feel the pain more than someone who only spends a fraction of their income on these things.

Obama's a one trick pony. The only trick he knows is to borrow, print and inflate. Prices rise and in essence, people get paid less and less as the inflation tax consumes more and more of their income. Our standard of living will never rise under this economic policy. Our standard of living will never rise with this man in the White House. Obama is stupid, very stupid.

Steve Dest, of Storrs, Conn., is a lifelong New England resident and contributer to Swamp-Ass.com .
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