That’s a lot of funny words for one headline.
Last I posted, I was using every resource available to me to help track down the Weiner hacker. Iowahawk was offering a $1000 reward for his capture. Then there was a Manight Shamalon big twist ending…it was Weiner all along. Nobody could have seen that one coming. It took the media longer to figure out that Weiner’s story didn’t quite add up than it did for them to go through every one of Sarah Palin’s 24,000 pages worth of e-mails.
The far more embarrassing story of the past few weeks, however, is the economy. We’re now well past the second anniversary of the stimulus. The same stimulus that Obama said, if we didn’t pass it, unemployment would go all the way up to 9%. Over two years later and unemployment is at 9.1%. Would we get a .1% drop in unemployment if we somehow retroactively repealed it?
We’re past the one-year anniversary of Recovery Summer and we have growth of 1.8%, home values are still falling, and we only added 54,000 jobs last month, well below what you need just to keep up with new entrants into the workforce. Stocks are falling, oil prices are rising, inflation is outpacing growth, everything Obama has tried has failed miserably. And what does he say to keep the nation’s confidence in him? Maybe the dumbest thing I’ve ever heard a President say, ever. He blamed unemployment on ATM’s and airport kiosks. I mean, if I were to list the top 10 reasons why that is dumb, the facts that the ATM was invented in 1967 and teller jobs have drastically increased since then wouldn’t even come close to making it.
Obama just flat out does not even understand the very basics of economics. Advances in technology can cause slight, brief increases in unemployment as the economy restructures, but in the long run they create more, higher paying jobs. Bringing up something that was invented in the 60’s makes his comments 100% stupid. If technological advances cause unemployment, then why is Obama going around claiming he saved the auto industry (he didn’t, by the way)? Think of all the blacksmiths that went under due to the decreased demand for horseshoes. Think if everything delivered by truck had to be carried on people’s backs. There is no end to the list of job-killing innovations. Because of stupid ipods, nobody will hire me to follow them while they work out and sing Jock Jams to them.
This just points, yet again, to an extremely foundational flaw in Obama’s view of economics. It was summed up nicely by a person going by “Postdoc” in a comment on a Jonah Goldberg article: “First Law of Obamanomics: A job exists for its own sake.”