Survival is More Than Canned Food and Matches… Click Here!

Posts Tagged ‘Obama’
On the mend?

It’s not just Obama’s legacy being created now. It’s that of the whole Keynesian economic edifice. We’ve always said the bailout’s not only would not work, but could not work. Sure it can kick the can down the road, postponing the inevitable adjustment at the cost of making it worse. But real consumption can only be paid for through real production. It’s production that creates wealth to enable consumption and investment. The only way to sustainably boost the economy is create an environment favorable to production.

Governments giving more money to poor people will provide a sugar hit, but at the cost of distorting price signals. This in turn results in inappropriate investment decisions. Ultimately it undermines the economy. Sure there may be isolated incidents of successful engorgement investment. Of government guided economic development. Singapore comes to mind.  But not all countries will be blessed with a Lee Kuan Yew rather than a Kim Jong-il. Even Singapore may not always be guided by enlightened hands.

History is more akin to a marathon than a sprint. Blair’s “Cool Britannia” burst of government led growth will leave a long and toxic legacy. Many will rue the day they elected a Labour administration. That’s if the politically correct media are not able to assign blame elsewhere. But back to Obama. How’s the United States performing:

Only 54% Of Young Adults In America Have A Job:   Young adults (18-24) in the US, the employment rate is just barely above half, or 54%, which just happens to be the lowest in 64 years, and 7% worse than when Obama took office promising a whole lot of change 3 years ago… of all age groups, this is the one that has actually seen its wages drop the most under the Obama administration.

It’s OK. They are just kids. Hungry kids:

Growing Number Of Americans Can’t Afford Food, Study Finds: About 18.6 percent of people — almost one out of every five — told Gallup pollsters that they couldn’t always afford to feed everyone in their family in 2011.

The evidence is clear. Bailouts might enrich vested interests, but it is not good for society more widely:

America has lost almost a decade of progress to the financial crisis: Just six of the 34 “advanced” economies categorised by the IMF have GDP per person higher in 2011 than in 2007. Notable among them are Germany and Australia.

Rank injustice, with people going backwards and the youth largely unemployed. That will do wonderful things for social stability.

 
Drug legalisation

No wonder Obama and Australia’s Prime Minister Julia Gillard get on so well. They are cut from the same cloth:

Obama’s War on Pot: In a shocking about-face, the administration has launched a government-wide crackdown on medical marijuana.

Back when he was running for president in 2008, Barack Obama insisted that medical marijuana was an issue best left to state and local governments. “I’m not going to be using Justice Department resources to try to circumvent state laws on this issue,” he vowed, promising an end to the Bush administration’s high-profile raids on providers of medical pot, which is legal in 16 states and the District of Columbia.

But over the past year, the Obama administration has quietly unleashed a multi­agency crackdown on medical cannabis that goes far beyond anything undertaken by George W. Bush. The feds are busting growers who operate in full compliance with state laws, vowing to seize the property of anyone who dares to even rent to legal pot dispensaries, and threatening to imprison state employees responsible for regulating medical marijuana.

Oh what a tangled web we weave, when first we practice to deceive. Those two could not lie straight in bed. It is hard to know which of them of more cavalier with the truth. They embody the left’s postmodernist “there is no such thing as truth” perspective on honesty.

What’s the implications of overreach of this magnitude for the federal compact at the heart of the US constitution? Still at least it ought to help keep contributions from pharmaceutical companies flowing in. I wonder which of these weighs more heavily on Obama?

Still unlike bank fraud at least the administration can claim to be applying the rule of law in this area. Even if it is perhaps being a little to enthusiastic. OK, totally over the top. But clearly drug prohibition is being enforced at least as vigorously as was the prohibition on alcohol before it:

Cop spends weeks to trick an 18-year-old into possession and sale of a gram of pot: More fun from the self-loathing society: This American Life had a show about how young female undercover cops infiltrated a high school and flirted with boys to entrap them into selling pot, so they could charge them with felonies and destroy their lives at an early age.

Last year in three high schools in Florida, several undercover police officers posed as students. The undercover cops went to classes, became Facebook friends and flirted with the other students. One 18-year-old honor student named Justin fell in love with an attractive 25-year-old undercover cop after spending weeks sharing stories about their lives, texting and flirting with each other.

One day she asked Justin if he smoked pot. Even though he didn’t smoke marijuana, the love-struck teen promised to help find some for her. Every couple of days she would text him asking if he had the marijuana. Finally, Justin was able to get it to her. She tried to give him $25 for the marijuana and he said he didn’t want the money — he got it for her as a present.

A short while later, the police did a big sweep and arrest 31 students — including Justin. Almost all were charged with selling a small amount of marijuana to the undercover cops. Now Justin has a felony hanging over his head.

Phew, I’ll sleep safer at night knowing our police are flirting with our school kids and enticing them into selling marijuana. It’s good to know that in these fiscally strained times governments are making good use of every tax dollar.

Even if the kid is found innocent, can you imagine the psychological damage? Yeah, the first girl I fell in love with turned out to be a cop trying to entrap me. She got me arrested and charged.  That will do wonders for trust.

Trust is central to our civilization, in fact it is probably a prerequisite for any civilization. Without trust I suspect there can only be barbarism. Yet we are killing trust in so many ways. The whole issue of the centrality of trust to our system warrants a post of its own.

Whatever damage is being done to individuals and society as a whole, it is important not to lose sight of the big picture:

Ten Years After Decriminalization, Drug Abuse Down by Half in Portugal. It’s only one data point, but interesting none the less. This is also worth bearing in mind:

(UK) Number of illegal drug users falls, survey shows: Drop in number of adults and children using illegal drugs to lowest level since records began in mid-90s welcomed by charities and government.

 

 
Corruption

WASHINGTON POST: Federal funds flow to clean-energy firms with Obama administration ties. “Overall, the Post found that $3.9 billion in federal grants and financing flowed to 21 companies backed by firms with connections to five Obama administration staffers and advisers.