retail sales down? WTF?
Against all odds, in spite of trillions of dollars being funneled to auto manufacturers, insurers and financial institutions, billions of dollars spent on state and federal makework projects and millions in proposed new taxes, people just aren’t buying stuff. According to Fox News, sales dropped 1.1 per cent — further than the .03 per cent originally projected.
Listen, people. Your children aren’t going to bankrupt themselves. And, frankly, there is only so much the government can do — even the government under Barack Obama. Sure, the man can perform miracles, but you have got to do your part, too.
Now, in his benevolence, Obama is still trying to help, through increased business taxes, which will of course be passed on to you. But you’re an important part of this equation. Pay your taxes — it is, after all the patriotic thing to do. And, for God’s sake, stop squirrelling away your money. The President has shown the way to nickel and dime your kids out of prosperity, and it is time we learn from his example. So drop those remaining dollars on iPods, DVD collections — whatever.
The Obama administration has worked hard to get money into the hands of people who need it least; it is up to you, now, to do your part.
(Cross-posted at RedState)
I am a local DJ here in St. Lawrence County, NY. My wife's name is Melanie, and we have four children.
Thank God, Obama isn’t telling people to go out and spend, spend, spend as George did after 9/11. Georgie knew very well what would happen to this phony economy if people started to save instead of spend. He would have had a bankrupt economy and no second term.
Actually, Judy — Obama is using -exactly- the same language as George W. Bush on this issue. In his last speech on the economy, Obama was just as “spend, spend, spend” as Bush ever was. That is, in fact, the reason the tax rebates were a part of this “stimulus” package, just as they were part of the Bush “stimulus.”
Supply side economics is good to a point, but we over did the point, people ran out of money and the supply buildt up.
When the banks get opened up, we will see a ton of fraud.
Our fore father of capitalism Adam Smith favored banking regulation:
“To restrain private people, it may be said, from receiving in payment the promissory notes of a banker, for any sum whether great or small, when they themselves are willing to receive them; or, to restrain a banker from issuing such notes, when all his neighbours are willing to accept of them, is a manifest violation of that natural liberty which it is the proper business of law, not to infringe, but to support.
“Such regulations may, no doubt, be considered as in some respects a violation of natural liberty. But those exertions of the natural liberty of a few individuals, which might endanger the security of the whole society, are, and ought to be, restrained by the laws of all governments; of the most free, as well as of the most despotical. The obligation of building party walls, in order to prevent the communication of fire, is a violation of natural liberty, exactly of the same kind with the regulations of the banking trade which are here proposed.”
It is a shame that we let Texans run the country for 12 years. I realize that we are a nation in decline but to push a phony economy is disgusting.