Friday, July 15, 2011

‘German Miracle’
Barack Obama Doesn’t See

by Dr. Milton R. Wolf - July 13th, 2011 - The Washington Times

The devastation caused by Obamanomics is now undeniable. According to Investors Business Daily, 2 million net private-sector jobs have been lost; unemployment has increased by 1.5 percentage points; long-term unemployment is the worst ever on record; the dollar is 12 percent weaker; the number of Americans on food stamps has increased by 37 percent; the Misery Index (unemployment plus inflation) has increased by 62 percent; and the national debt has exploded by an alarming 40 percent. Mr. Obama is on pace to saddle America with more job-killing debt than all the first 43 presidents - combined.

It didn’t have to be this way but Mr. Obama is trapped in the mistaken belief that America’s problems can only be solved by growing our government ever larger. When all you have is a hammer, everything looks like a nail. In early 2009, before his unsuccessful attempt to bring the Olympics to Chicago, Mr. Obama failed at a far more consequential international lobbying effort: The president could not convince German Chancellor Angela Merkel to unleash yet another in the long stream of Keynesian “stimulus” spending schemes - and for good reason. Admittedly, no two nations’ recessions are the same. Germany’s gross domestic product fell even more steeply than America’s but then again, the Germans didn’t have to contend with the likes of Rep. Barney Frank, Massachusetts Democrat, and then-Sen. Chris Dodd, Connecticut Democrat, sabotaging their housing market with government-imposed suicide mortgage loans. Today, however, while America’s economy is worsening, Germany has returned to pre-recession employment levels and their only “unexpected” economic news is the kind that beats expectations.

It is daily becoming more frustrating that progressives reject any evidence that contradicts their Utopian delusions. As article after article has touted the evidence from the last century comparing the difference between the Hoover-Roosevelt recession (which progressives turned into a depression by stupidity and ignorance) versus the Harding-Coolidge recession of 10 years earlier (which they turned into the boom time known as the "roaring twenties" by using free markets) - it makes one wonder if mankind is becoming dumber each year.

Why can these hypothetically enlightened intellectuals NEVER understand no matter how much history we have which proves their delusions are so obviously wrong? This article talks about the miracle of German revival after World War II. It again covers the reality that explosion in productivity predates the Marshall Plan that progressives claim rebuilt Europe. They are as determined in their refusal to deal with the reality of that miracle as they are stubborn in their refusal to deal with the miracle recovery of America in the 1920 recession. They simply cannot accept that government is the problem. Recession is turned into depression not by individual freedom but by the oppression of government "planners" and their incompetent stupidity.

Barack Obama is burdened by this same ignorant view of the world which will not allow him to see the truth.


Post a Comment

<< Home