President Obama’s Economic Advisors Setting Him For Defeat. : ThyBlackMan.com

Saturday, December 20, 2014


President Obama’s Economic Advisors Setting Him For Defeat.

June 18, 2012 by  
Filed under Money, News, Opinion, Politics, Weekly Columns

(ThyBlackMan.com) President Obama’s economic advisors are setting him for an October disaster in the vein of the  Bush collapse of 2008.  It is bewildering, but not surprising that certain basis steps were not taken to correct the  US economy’s inevitable 2012 early Fall collapse which will dwarf the September 2008 collapse of Wall Street. (It is impossible to observe what is going on in China, India, and Europe and not see this as an unavoidable fact in the way that anyone on the inside of the auto industry or Wall Street in in 2008 knew a collapse of both had to occur.) 

This will result in President Obama not being re-elected as it resulted in President Bush becoming the poster boy for political failure par excellence.  The sad part is that this all could have been and can be avoided if the President would shun the advice of his top economic gurus and took his case and some common sense initiatives directly to the people for swift implementation.

I am an expert and university lecturer in the areas of terrorism, international politics, Black economics, and domestic violence, and I follow have a one thing burned in my consciousness-the experts usually have zero common sense and are most often wrong.  It was Harvard and Yale “genuises” that planned the $3 trillion disaster that is the Iraq war, ran FEMA at the Hurrican Katrina disaster, and designed the disasterous Ponzi scheme that led to the compete collapse of Wall Street and the countries or Iceland, Greece, and Spain.  It is insane  anyone, much less the President would give a shred of credence to anything these people would say, yet he inexplicably does. 
 
The President should abandon these people and sit down and talk to the regular folk, business people, and entertainers that I deal with on a daily basis from Detroit, Los Angeles, Las Vegas, Miami, and North Carolina.  Despite the wide swath of American these people represent, not one of them has any faith in the President’s economic policies or America period.  The 2 things that all these people have in common outside of the loss of faith is they are all ardent supporters of the President, and not one of them is African American (with the exception of myself). However, I like them, love the President, but reject his economic policies for good reason.  It is not a day that goes by that I don’t talk to my friends and associates in China, Germany, India, and Australia and hear nothing but economic advancement, hope, and positive energy while experiencing exactly opposite of that when I talk to Americans from every corner and background in the US.
 
In May the entire US economy created 69,000 jobs for a country of 313 million people, there is one much needed project in a battleground state that is desperately needed for purposes of national security that would create that many jobs alone, and yet has not even been started. This despite the President having the ability start the project with the stroke of a pen.  I can name atleast 4 other much needed job creating no brainers that the President could intiate tommorrow that would add a minimum of $500 million in economic activity each to the battleground states of Michigan, Nevada, North Carolina, and Florida in a week.
 
The residual effect would be creating several hundred thousand jobs directly and sustaining atleast 2 million jobs in the private sector without 1 government dollar spent.  The bonus is that it would lead to millons of eligible African Americans, youth, middle class, Latino, and women registering and voting for the President’s re-election rather than doing what I am going to do and sit out the election. A top aides to the President are aware of the opportunities, yet have taken no action to get details of the plans even as they attempt to sell the same old econmic song and dance to the American public daily.  Talk and rhetoric is no substitute for a job and a paycheck.
 
The bottom line is that the past 3.5 years have been hell for the average American from the mountains of the Carolinas to the deserts of Nevada, and to the streets of Detroit-unnecessarily so due to the elitist track of the Obama administration. At the end of the day the average American can only reach the conclusion that DC just does not care about their plight.  The government bails out the scammers that created the Pyramid scheme that collapse the economy with the money of the people that these very bankers are throwing out into the street. 
 
The government says that the system has to  work this way in order for us to have a banking system-a complete and total LIE.  Here is the proof, since 2008 the US has had over 400 bank failures with thousands of branches, Canada has had ZERO.  Zero bank failures, no housing crisis, no bailouts, yet the country is humming right along as a free and Democratic entity.  So the the argument that in order to have a thriving economy requires that the powers that be must run a theftocracy defies the facts of the Canada that exists real world.  President Obama has a simple choice to make, take the reins of his administration’s economic policy, and then take direct ACTION on policy and JOB CREATION, or ironically be placed in the same category as his predecessor George W. Bush-how sad…
 
Staff Writer; Jerome Almon
 
Feel free also to connect with this brother via FacebookJ. Almon and alsoTwitter; SlikkForDays.
 
 

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Comments

2 Responses to “President Obama’s Economic Advisors Setting Him For Defeat.”
  1. Dennis says:

    I would like to say that I am sory you feel it necessary in this day and age to have a website called Thyblackman.com. I wonder when all this will stop.

    That said as a white middle class blue collar Obama supporter( I only use the white designation because I know you want to know)I must agree with you. The problem is politicians seem to consider that their main job is to be reelected and not taking care of the peoples business. I am totally amazed that with all the high powered advisers not one original idea comes from either party. I think the Davis plan you mentioned is outside the box thinking.I have never heard of it before but it seems very doable if the math is right.
    I would go it one better . Lets call it Davis part 2. Their is over 16 Trillion dollars in Private retirement funds and about another 7 Trillion in Govt retirement funds. This is Trillion!!!. We should drop the penalties and taxes on this money and for a period of time allow withdrawals . These withdrawals could only be used on American goods and products and new business startups. Can you imagine the economic impact. The Davis act could take a very long time to be approved if ever. The Davis Act 2 could be done in a short time I believe with a change in the tax code sort of like the last round of tax cuts. I am not a very educated man so I only have a small degree of understanding of the tax codes. This would be a way to accomplish getting a much needed boost to our economy without a great amt of Goverment intervention. Let the people reap the benefits for a change and without a govt bailout. I wish I had some way to get this proposal out their, but every time I try to correspond with a politician they always say we will get back to you and all I get is campaign info. Anyway I am glad to see someone is thinking outside the box. God Bless, Dennis

  2. James Davis says:

    You Are Right On The First Count,,, Mr. Obama Needs To Clean House When It Comes To His Job Creation Advisors.

    The unemployment numbers for June which come in July may have him drawing the same conclusion, if the rate of unempolyment continues trending upward or remains the same. There has been a downward trend in Job Creation. There were 243,000 jobs created in January of 2012. The Job Creation numbers have trended downward since than, ending at 69,000 created last month. Following is a Job Creation Plan which is both credible and doable, however it requires boldness in an area where this President has not been bold.

    A DEFICIT NEUTRAL JOB CREATION PLAN. Caution: Political courage required!

    It can be done by putting money into hands of retiring baby boomers. Consumers account for 70% of our economic activity or GDP. You just simply change how Social Security checks are paid. Let boomers have partial distributions of their Social Security principal in the amount of $20,000.00 or $40,000.00 dollars, and issue them a monthly check on the remainder of their principal. Look, let’s say it takes $313,000.00 dollars in principal at 6.9% interest to send me a monthly Social Security check of $1800.00 dollars. So, I say to Social Security, I would like to have some of my money up front, say $40,000.00 dollars. Now pay me a monthly check on the remainder, which is in this instance $273,000.00 dollars, which amounts to a monthly check of $1569.00 dollars. That makes this plan (the Davis Plan) deficit neutral. It’s their money! Presenting the option of taking a partial distribution of your retirement principal is common practice in the private sector. Yet, the largest payer of pensions, the Social Security Trust Fund, does not do this at a time when it will benefit our economy the most. The impact of allowing partial distributions, would pull, this economy out of this downturn. BOOMERS ARE RETIRING AT A RATE OF 10,000 PER DAY, and continuing for the next 18 years! (at 66, they receive full benefit payments) 10,000 x $20,000.00 = $200,000,000. million dollars. That’s right! They will dump that amount into this faltering economy each day for the next 18 yrs. That amount in effect is really $400,000,000.00 million dollars per day because money handed directly to the consumer turns over 1 to 2 times. There are 68 to 72 million boomers. With $400,000,000. MILLION DOLLARS coursing through this economy every day, the downturn ends! Add the incentive of waived or reduced taxes on the first $20,000.00 dollars taken down from any retirement fund, including Social Security, the program is advanced significantly. It’s the boomers who are getting hardest hit in this recession.

    It will require, politicians making Social Security actuarially sound, but that is what they are going to do anyway! Making Social Security actuarially sound is a mathematical function not a political one. Social Security at this time has a surplus and can pay out full benefits up to 2035 without a problem. This plan addresses every objection Republicans and Democrats have. http://www.sslumpsum.com

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