There is an article title, ‘20 Ways Obama has Wrecked America.’ By almost any measure that you can think of, this article has got to be the most slanted, misguided piece of fiction that I have seen since the mid-term elections. The piece is headlined and written in a tone that will make the reader believe that President Obama caused these problems or at least made them worse. The article is full of innuendos, half truths or flat out lies. The writer really should be ashamed of himself.
I won’t go through this garbage line by line, but I will point out a few instances that are just to brazen with stink and try to clean them up a bit by lying out the truth.
Let’s start with the very first stinky sentence in the very first slimy paragraph.
“By almost any measure that you can think of, the US economy has gotten worse since Barack Obama became president. Unemployment is higher, the cost of food and gas are skyrocketing, the number of Americans living in poverty has spiked dramatically, the housing market is in nightmarish shape and our national debt has absolutely exploded.”
Okay, think back six months before Barack Obama became president, do you even remember what shape the country was in (Bureau of Labor Statistics)? Then President, Dubya Bush, and his cohorts of merry men had run the country into the ground. The economy was in a downward spiral (over 800,000 jobs lost from April 2008 to May 2008) and we were told that the country’s financial condition was in such dire straits, that without a stimulus package it would default. Secretary of the Treasury Henry Paulsen designed a two page proposal to receive and spend over $700 billion without question (www/reuters.com).
The US auto makes were having hard financial problems and were facing closure. After Barack Obama was sworn in, he alone saved the auto industry and some say many millions of jobs at the same time.
Large banks and mortgage companies bamboozled many people by putting them into home loans that were structured to fail. The mortgage companies knew they could sell these structured loans to investors, many overseas, and they, the mortgage companies would not have to worry about the defaults when they come, as they knew they would. The mortgage companies and banks working with the Bush era relaxed banking regulations were able to bundle these mortgages, making extreme profits while leaving the homeowners and housing industry in shambles. Banks and mortgage companies had full power to screw homeowners, which they did.
The same deregulation schemes were prevalent in many other industries, including food and farming. These deregulations allowed the big food producers to increase commodity speculation on the world market. This drove up the price of corn, wheat and other foods. Obviously, the small farmers didn’t receive any of the windfall profits that Wall Street observed. Again homeowners and families had to bear the burden of higher prices. Deregulation gave big business a license to steal, kill and cripple the American economy, in the name of profit. The rich are getting richer, and the poor are getting poorer.
The writer talks about the Federal Reserve as if he really knows what is going on. What he said is mostly true, but some facts are missing, does that make this stink? The writer said:
So exactly what is the Federal Reserve? Most people would say that it is an agency of the federal government. But that is absolutely not true. In fact, the Federal Reserve itself has argued in court that it is not an agency of the federal government. Rather, the Federal Reserve is a privately-owned banking cartel that has been given a perpetual monopoly over our monetary system by the U.S. Congress. This privately-owned central bank has been destroying the value of the U.S. dollar for decades, it has run our economy into the ground and it has driven the U.S. government to the brink of bankruptcy. The Federal Reserve operates in great secrecy, it has never been subjected to a comprehensive audit and it is not accountable to the American people. Yet the decisions that the Federal Reserve makes have a dramatic impact on the lives of every single American citizen.
Let us look at the real facts here.
The US Government tries to influence the economy through fiscal policy which is implemented only by congress and the president. Fiscal policy consists of federal taxation and spending. Monetary policy is established and implemented by a corporation known as the Federal Reserve. It was established in 1913 to stabilize the money supply and fight inflation. There are 2 main considerations of monetary policy.
1st. If there is too much business activity there is thought to be danger of inflation.
2nd. Inflation can best be fought by curbing business activity.
This is accomplished by making money more expensive for business to borrow, that is by tightening the money supply or raising the interest rates.
The writer of the article would like for you to believe that the Federal Reserve is completely independent of the federal government, it is not. In fact, the adjustment and policies of the Reserve are implemented only by Congress and the President and are therefore accountable to the Congress and the President who are of course accountable to the American people.
The writer wants you to believe that the Reserve operates in great secrecy. This is not true either. Did you ever hear the names Ben Bernanke, or Alan Greenspan? Alan Greenspan served as Chairman of the Federal Reserve from 1987 till 2006. Ben Bernanke served from 2006 to present. The person who wrote the article might want to Google these guys, there is very little private about them or what they do or how they do it.
In my opinion, President Barack Obama is proving to be one of the most focused Presidents since George Washington. I could name a few others but that is not the purpose of this article. He continues to serve the people of America even while unimaginable distractions are force upon him constantly. Perhaps when it is all said and done he will be recognized as the absolute most appropriate and most excellent president we have ever had.
