Obama and Democrats Have One Month Left
By Scott at Flopping Aces blog on March 8, 2009 at 9:27 AM in American Consumers, Democrats, Economic Stimulus, Economy, Housing & Housing Crisis, President Barack Obama
Editor’s Note: We are honored to re-post this exceptional article from the distinguished Flopping Aces blog (a must-bookmark blog!), which features a lot of common sense and informed commentary in its posts.
No one can 100% predict history, but some of it is pretty easy. When a person pulls a trigger on a loaded gun (with the safety off), it’s pretty reasonable to expect that in a future moment following the trigger pull…the weapon will fire. A pin will hit a primer which will ignite grains of powder which will combust and increase pressure in the casing until the bullet is pushed out of the casing and down the barrel. That’s not too hard to predict.
We can predict that the sun will rise tomorrow based on a long-established pattern of its doing so without being struck by a gamma ray burst from an exploding star someplace else. That rarity could happen, but the data indicates that the trend is more likely for the sun to rise. That’s not too hard to predict.
Similar predictions are possible with the American economy, President Obama’s popularity, and Democrats’ years of unaccountability.
Take a look at the weekly job losses for since the September stock market crash. It’s an exponential growth rate:
If current trends continue:
- National unemployment is on track to pass 10% in March (rpt in April)
- Stock market has lost 100-150pts a day since Obama was elected and since Democrats took absolute power in January. This means a DOW in the 4000’s by April or LESS/not more.
- Housing, another 300,000 to 400,000 Americans will lose their homes if the current rate continues. The Democrats housing rescue effort only applies to homeowners with good credit. How many people with good credit are so far behind on their mortgage that their credit rating is still in good standing? Answer: Almost none. You lose your house because you can’t make payments, and if you can’t make payments, then you don’t have good credit so the program can’t help you.
- Fed govt is spending $400-500 billion a week since Obama and Democratic Congress took office. At that rate, unless the current rate of spending suddenly stops or decreases as Republicans want, Obama and the Democrats will spend another 2 trillion more this month.
Given the pattern of data, unless a gamma ray burst from an exploding star hits Earth, where is the tipping point? Clue: Gallup has Obama’s disapproval climbing faster than approval is falling. The only way to get those disapprovals down is to get people jobs, and stimulus doesn’t do that until 2010/2011 at BEST. The home thing he passed only helps people with good credit, not people who lost jobs and can’t pay bills.
Boomers are retiring NOW, and they need their 401k money so to get that money back the market has to get back up.
Until he does all three (which ain’t possible), his disapproval numbers grow with each layoff, each foreclosure, each person who can’t retire, each family that’s lost their life savings, and each person who doesn’t get a raise this year, but sees their taxes on electricity, etc go up (btw, remember, no more itemized deduction bonus next year).
I believe the tipping point is a 30-day period between now and April 7. Some people might blame Bush for a bad economy, or finger him for causing them to lose their home, their job, their life savings, their retirement, but once those bad things have happened, they look to Obama and Democrats to fix things. We were told Obama was “Ready to lead from day 1.” Well, speaking from first hand knowledge of this, if there’s no new job, Obama gets the blame. If a family loses their house because Obama couldn’t create a new job with $800billion “stimulus” package, then Obama and Democrats get the blame. If a Baby Boomer has lost 60yrs of savings in the stock market on the eve of their retirement, and Obama doesn’t even watch the market, then that Baby Boomer who can’t retire blames Obama and Democrats for not restoring the market. If a retiree can’t afford their medicine or cancer treatments or is reduced to living off their kids because their retirement income was lost in the market, and Obama+Democrats haven’t restored the market, then that retiree will hold them responsible for not fixing things as promised.
The trends are simple and consistent: unemployment, deflation, govt spending, housing losses, stock market collapse, Presidential approval rating/disapproval. All of those show a peak this month.
President Barack Obama has 30 days or less (no more) before it’s over. After that, he cannot regain his popularity and power until the people who lost jobs find new ones, until the people who lost homes get new ones, the people who lost their savings have it restored, the people who lost their retirements get them back.
Oh yeah, and what’s the President and his party of financial foul ups have to say about this? They tell us to wait a year or two for their stimulus to start-(repeat) START taking effect, and there’s only a 1:3 chance it will actually have any effect at all according to them.
No one says do nothing (though every failing Democrat will make the claim/distraction), but clearly, the track forced down America’s throats ain’t the right one. In the next 30 days, most people will come to face the reality that they elected inept liars. No one will care about George with Bush (except to recall perhaps that when he was President they had a job, a house, a retirement, and hope). Instead, Obama and Democrats will finally reap what they’ve sown. Sadly, it will take millions of destitute Americans and a Depression to make it come home.
Read more comments at Flopping Ace blog.
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