Feb 27 2009
Capitalism Reacts to the Snake Oil Salesman Obama
Hat Tip Pat Dollard
Well, I think most people will agree that the staff at the Wall Street Journal are moderately well-versed in mathematics and economics. So, when they call Obama’s speech Tuesday night the “2% illusion“, I think people will listen. In other words, Obama is proposing to raise the taxes on the 2% of America’s wealthiest. However, according to The Wall Street Journal, even if they took everything these people had, they still wouldn’t be able to pay for all of Obama’s wild spending. Pat Dollard explains that this Keynesian stimulus spending during a recession was also tried during the “lost decade of Japan.”
Moreover, the cap and trade regulations that he is suggesting may cost America another 4 million jobs, and encourage companies to go to abroad, where there is no cap and trade on “pretend green house gases.” Of course, we all know that Obama is a “snake oil salesman” and very good at it. Great rhetoric that leaves his supporters swooning.
And you know that he has promised that he will not increase the taxes of anyone earning under $250,000, “by a dime”, but then we know that he has basically broken so many of his campaign promises, so how can we trust him now? In fact, according to Steve Elliott of Grassfire, there are 1.6 trillion dollars more in taxes in the budget.
J.Christophe Amberger says “He, too, will find out the hard way: No country has ever achieved prosperity by raising taxes and punishing success. Then again, this may be the point! To establish and maintain a welfare state, permanent crisis is a political necessity.” Amberger knows first hand about socialism, having spent his earlier years in East Berlin.
Amberger says that the 400 million in the “stimulus”, allocated for geothermal energy could possibly account for 1% of the electricity by 2012! Not too much! Also these teutonic plates creating the geo-thermal energy are found are only in 4 states: Hawaii, California, Nevada and Utah.
For those of you who may be familiar with solar energy, you know that there are some major obstacles at this point, like the cost of installation. Switzerland is now working on a new technology, called solar tiles, that may make installation much more cost effective. However, according to Amberger, solar stocks are plummeting, possibly because no one can afford the changeover to “green energy.”
Andrew Snyder says that thinking that solar energy will come even close to providing the energy that coal, nuclear, or hydro-powered plants is simply “a pipe dream.” But, he is suggesting for Americans to buy stocks in Chinese solar-cell manufacturers like LDK Solar (NYSE:LDK), since it is dirt-cheap right now. Energy prices are now being de-regulated right now, so that is another reason why your electric bill may be going through the roof. Think this is Un-American for suggesting that you buy Chinese? Well socialism is Un-American too.
