Economics and the lawyer president

Economics and the lawyer president
by Dick Eastman

The president is a lawyer, a professional talker good at putting over what he is hired to put over. He has no clue about the effects of the policies he is handed to sell and sign. In his selling of bailouts and the deconstruction of the American industrial economy he blames the American auto makers -- even though the American auto makers have been providing the vehicles that Americans want despite the labor-cost advantages of foreign makes.

Obama does not tell you that what killed American automakers was actual sabotage of American automakers using a variety of weapons. First the monopolist spike in gas prices. Second the unreported obliteration of the economic class that tends to buy new cars -- and make a nice flow of good used cars available to those of less means. Third, monopoly administered consumer price increases. Fourth, a failure of Americans to meet mortgage payments due to the causes just mentioned. Fifth, a contraction of loans and a reduction of the M1 money supply which is used to pay wages, by inventories, pay mortgages -- in short a spiral of decline. On top of this has been a predatory Financial Sector including the private Federal Reserve system and the rubber-stamp Congress that has deregulated and perversely regulated the economy to favor the internationalist moneyed elites over middle class businesses. All this has created the crisis of the American automaker -- and all of these causes come from the side the Obama is playing for, not from the side of the national economy which includes the auto makers and which the globalist Money Power is seeking to destroy.

My first grandson should be born within the next hour -- strange that all I can think of is, with you, fixing America for him and your kids and grandkids he will share the future with.