Bye Bye Recovery Summer

Here it is almost Labor Day, the end of the ‘Recovery Summer’ that President Obama promised. How did that all work out? From June-August, we lost 283,000 jobs. Recovery? Just maybe the consequence of recovery is wrong or maybe Obama will next promise “recovery winter” or should we just assume that he meant next summer? Wait long enough and the economy will recover. If you perform an Indian “rain dance” long enough, eventually it rains and the wizard can claim his magic did it. Whenever this happens, we will sure give Mr. Obama the credit he deserves.

To me it seems Mr. Obama takes credit up front and then shifting the blame elsewhere when the expected results fail to materialize. His advisers promised that unemployment would not exceed 8% with the stimulus, but could go up to above 9% if nothing was done. And then when actual unemployment hangs around at almost 10% for a year, now they claim they never said that the stimulus would keep it low and besides it was Bush’s fault.

The economy was sick in 2008; Stimulants and stabilization were applied. And they were needed. Yet before they had a chance to work Mr. Obama and his political cronies pumped in more stimulus. Of course this was more a political move than an economic one. The new stimulus didn’t perform as promised. Now the guys setting in the White House want to pump in more stimulants. Maybe it is time to let the patient recover and stop with the artificial stimulating.

Mr. President, no more short-term stimulants are needed, nor will they do any good except to provide some political cover for the chair warmers in congress. It might be better to create the long-term conditions of prosperity – create stability and predictability in laws and regulations - and let the people get back to business.

Find great deals on Video cards over 10.000 in stock from $8.50 at Compuvest.com