Obama Essentially Pledges To Be Bush’s 3rd Term and Perpetuate Bushonomics "Guns & Butter" Bubble Economy
Barack “Bubbles” Obama follows his bellicose, chest-thumping "We will kill bin Laden. We will crush Al Qaeda" announcements to escalate the “Global War on Terror” and order his own troop surge in Afghanistan and raise a massive "civilian national security force that’s just as powerful, just as strong, just as well-funded [as the military]" with a hundreds-of-billions-of-dollars deficit-spending “infrastructure” stimulus to perpetuate the ponzi bubble economy at all costs and bury you in hyper-debt.
Old Wine in New Bubble:
Obama Incubates a New Host for the Ponzi Parasite
Do you believe “it’s different this time” as long as we say “infrastructure” and “alternative energy”?
- We just finished the largest infrastructure-building bubble in history. It was called the housing bubble. It was government policy. It caused the current global financial crisis. It indicates that the government is horrible at picking worthy infrastructure projects (leading to impoverishing malinvestment). Obama wants to do it all over again like it is a Disney ride.
- We just finished a PUBLIC/GOVERNMENT infrastructure-building bubble fueled by the housing/finance bubbles, as state/local coffers overflowed with property/income/sale taxes.
- Governments just finished proving the waste of public infrastructure programs. The always pork-ridden federal transportation bills reached new infamy with the Ketchikan Alaska "Bridge to Nowhere." The state of Minnesota raked in $13 Billion in surpluses 1997-2001 (during the dot.com bubble) and another windfall during the housing bubble, including a $294 Million surplus in the end-of-session 2007, the same year that 13 people died when the 35W St. Anthony Falls Bridge collapsed (8/1/07) after the cash-flush state government ignored “clear warning signs -- such as corroded, buckling gusset plates.” The federal and Louisiana state governments similarly botched New Orleans levee infrastructure with catastrophic and deadly results during the 2005 Hurricane Katrina. People died while governments spent their bubble revenue on “infrastructure” projects similar to more teachers' lounges (will they soon add granite countertops and stainless-steel appliances?), high-school "senior balconies," swimming pools, Maryland Department of Natural Resources (DNR) Project Open Space (POS) for “conservation areas” or Portland Oregon Bureau of Parks and Recreation’s $250,000 study for a 4-mile scenic bike path (the quarter-million dollars does not build anything, it just “studies”).
- Obama’s alternative-energy Green Bubble (the Grubble?) is a Trojan Horse to misrepresent more consumption as conservation (saying the US government "pays the highest energy bill in the world" and then demanding yet more spending on government buildings--"greenwashing" spending--instead of downsizing) (Update: Obama gives lip service to fuel-efficient vehicles but then uses his first major press conference as president to push gas-guzzling 5mpg RVs) and a recipe for malinvestment (subsidizing inefficient but politically-correct boondoggles) and pork-barrel spending for politically-connected, insider, special interests. Venture capitalist Bob Metcalfe embraces the dot.com bubble as a business model and recycles erstwhile dot.commers into the new Green Bubble, “there is a bubble. And it’s great.”
- Obama’s final attempt to assure the public that his policies will remain unsullied by reason is his “use it or lose it” criterion to force ill-considered spending decisions. Crash-spending programs cause massive waste, such as 1980s Defense Secretary Caspar “Cap” “the Ladle” Weinberger’s profligacy, the infamous $436 hammer and $640 toilet seat, and the post-9/11 security bubble including Newark NJ buying air-conditioned garbage trucks with Homeland Security money.
- Obama might be giving away your tax dollars to support drug-trafficking, prostitution, and human trafficking because of mob/mafia ties to construction. "Organized crime controls 75 percent of the construction industry in New York City through its control over the concrete industry and construction unions, an admitted mob captain told Senators [in 1988]." "New York Public Works Projects Saddled with ‘Mob Tax’." FBI investigations implicate the Gambino crime family in a 21st Century I-95 interstate highway construction project.
- Expect all the housing-bubble excesses (waste, fraud, cronyism, etc.) to continue, since Obama's "let's take this party back to my place" announcement merely shifts the bubble from residential infrastructure (housing) to non-residential infrastructure (schools, roads, or anything allegedly "civic").
Bubbles Obama seems intent on copying FDR’s folly of wasting scarce resources on parks and wall murals while people starved.
The New Deal failed to end the Great Depression.
The Greaty Society failed to end poverty.
Entombing Japan in concrete failed to end Japan's 1990s "lost decade" (more like 2 lost decades now).
Why would anyone believe today's Keynesian stimulus-addicts who promise, "but this time it's different"?
Obama's concrete will build America's mausoleum.
- The solution to a debt crisis is NOT a spending spree.
- The solution to a debt problem is NOT more debt.
- The solution to a bubble is NOT another bubble.