The President Comes Down with MPD

Friday, May 15, 2009

I've finally figured the President out. He has multiple personality disorder. The proof is below.

President Barak Working to Defeat President Obama’s Stimulus

President Barak, who acquired and took over management of GM and Chrysler in March, is working hard to defeat his arch nemesis President Obama by destroying jobs even as his opponent President Obama creates and saves them. According to recent news, GM plans to close 2,000 dealerships while Chrysler will close 789 dealerships. The average number of employees in a dealership is 62. This means that the government controlled auto makers will cut 172,918 jobs. This just tops out over President Obama’s self proclaimed 150,000 jobs created statistic. Meanwhile, the unemployment rate has reached 8.9% and GDP shrinks. Stay tuned to this blog to see who will ascend to victory.

Speaking of the battle between President Barak and President Obama…

President Obama Warns that President Barak’s Policies Will Wreck the Economy

Bloomberg reported the following from a town hall President Obama held last night:

“President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt." Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.””


I’ve been saying this for months (the borrowers have already stopped buying our debt. It would be nice for President Obama to notice this since he’s trying to run the economy). President Barak’s policies and budget which includes a $1.8 trillion deficit are completely unsustainable and I couldn’t agree more. What is worse is that President Barak is trying to convince the people of the US, that fixing health care is the answer to his devastating deficit spending. What’s the problem with this argument? Although health care does need reform the government spent $427 billion in 2007 on healthcare, even if we wiped out all government health care costs (which we won’t, we’ll increase them. I know this because it’s what happened in Mass when they tried the same thing), we are still left with unsustainable spending in the amount of $1.4 trillion. This also happens to be the same amount of deficit that President Barak originally predicted two months earlier and then realized his numbers were rosy.

President Obama has this blogger's full support in defeating President Barak’s poor policies.

Speaking of President Obama thwarting President Barak…

President Obama Nixes President Barak’s Plan to Release Detention Photos

This headline has nothing to do with economics, nor will I really comment. I just like to see headlines where President Obama is winning the battle against President Barak. The paradox of the political battle between President Obama and President Barak seems to have infected the media as well.

Speaking of media press paradox…

Media!!! So which is it? Is the economy turning around or getting flushed down the toilet?

If you thought the President seemed schizophrenic these days, it’s nothing compared to the articles in the news about the economy lately. Either Rham has been having communication problems regarding Obama’s talking points in his daily meeting with the press, or the media is just as confused over the Obama-Barak infighting as I am.

Below is an article from the AP regarding the economy (To cut down on reading time, I gave you the judge’s decision regarding who won the paragraph; Obama or Barak):

Fresh reminders that the recession likely has passed its peak, but hasn't ended, emerged Thursday in reports that first-time claims for jobless aid and wholesale prices rose more than expected. Economy is in bad shape. 1 point Barak

Economists said the jumps, while bitter reminders of the country's weak economy, were not cause for great concern. Jobless claims should ease after layoffs in the automobile industry are complete, while inflation remains under control. Economy is turning around. 1 point Obama

The Labor Department said the number of new jobless claims rose to a seasonally adjusted 637,000, from a revised 605,000 the previous week. That's above analysts' expectations of 610,000. Economy is in bad shape. 1 point Barak

Economists focused on the fact that initial claims remain below the peak reached in late March, a sign that the wave of mass layoffs announced earlier this year has crested. Economy is turning around. 1 point Obama

"This is yet more evidence that we are now past the worst," Paul Dales, U.S. economist at Capital Economics, wrote in a research note. Economy is turning around. 1 point Obama

Separately, the department said wholesale prices climbed 0.3 percent last month, larger than the 0.1 percent gain economists had expected. The biggest jump in food costs in more than a year offset a second monthly decline in the price of energy products. Economy is confused. Tie! .5 points to Obama and .5 points to Barak

Even with the larger-than-expected gain in the Producer Price Index last month, wholesale prices over the past year have fallen 3.7 percent, the biggest 12-month decline since 1950. While falling prices can raise fears about deflation, economists believe the efforts by the Federal Reserve to combat the recession will prevent a dangerous bout of falling prices. A little more print on bad economy than good. 1 point Barak

Wall Street brushed off the reports and stocks rose modestly. The Dow Jones industrial average added about 40 points in midday trading, while broader indices also increased. Economy is turning around. 1 point Obama

Most of the increase in jobless claims was due to auto layoffs, a department analyst said. Economists estimate Chrysler LLC has laid off 27,000 workers in the wake of its April 30 bankruptcy filing. Chrysler on Thursday told a bankruptcy court it plans to eliminate 789 of its dealers — or about 25 percent of them — nationwide as part of its restructuring process. And General Motors Corp. has said it will temporarily shut 13 factories beginning later this month through July, potentially affecting 25,000 workers. Economy is bad. 1 Point Barak

Still, many economists expect the downward trend in jobless claims to return once the impact of the auto industry's job cuts has passed. Economy is turning around. 1 point Obama

In another sign of labor market weakness, the tally of people continuing to receive benefits increased to 6.56 million from 6.36 million, setting a record for the 15th straight week and worse than analysts expected. The continuing claims data lags initial claims by one week. Economy is bad. 1 point Barak

Abiel Reinhart, an economist at JPMorgan Chase & Co., said the increase implies that the unemployment rate, which reached 8.9 percent in April, is continuing to rise. Many economists expect it to reach 10 percent by year's end. Economy is bad. 1 point Barak

The large number of people on the jobless benefit rolls is a sign that unemployed workers are having difficulty finding new positions. Economy is bad. 1 point Barak

Economists are closely watching the health of the labor market. If layoffs continue at a rapid pace, consumers could cut back further on spending and prolong the recession. Economy is bad. 1 point Barak

New applications for jobless benefits have declined since reaching 674,000 in late March, the highest level in the current recession. But claims remain elevated. Weekly initial claims were 375,000 a year ago. Economy is confused again. Tie! .5 points Obama and .5 points Barak

The four-week average of claims, which smooths out volatility, rose to 630,500, after falling for four straight weeks. Still, the average remains nearly 30,000 below its high in early April, a drop that economists at Goldman Sachs and JPMorgan Chase & Co. have said indicates that the economic downturn is bottoming out. Economy is turning around. 1 point Obama

There have been other signs the pace of job cuts is moderating, though still brutal. Employers eliminated 539,000 jobs in April, the fewest in six months and below the average of 700,000 in the first quarter of this year. Economy is turning around. 1 point Obama

Still, more than 5.7 million jobs have been lost since the recession began in December 2007. Economy is bad. 1 point Barak

More job cuts have been announced recently. Steel giant ArcelorMittal said Wednesday it will eliminate nearly 1,000 positions at an Indiana steel plant in July, while DuPont said last week it will cut 2,000 jobs. Economy is bad. 1 point Barak

Among the states, Illinois reported the largest increase in initial claims, which it attributed to layoffs in the construction and manufacturing industries. The next biggest increases were in Kansas, Puerto Rico, Indiana and Ohio. Economy is bad. 1 point Barak

New York reported the largest drop in claims of 13,386, which it said was due to fewer layoffs in the transportation and service industries. The next largest drops were in Michigan, North Carolina, Massachusetts and Connecticut. The state data is for the week ending May 2, one week behind the initial claims data. Economy is turning around. 1 point Obama


Final score: 11 points Barak to 9 points Obama. Perhaps this is why Obama has come out so strongly against Barak this week? I just hope Obama can somehow make up the ground Barak has gained. Thanks to schizophrenia, both progressives and conservatives now have a President we can support.

7 comments

Devrim said...

And we still don't know what to do with those Guantanomo detainess, but that doesn't stop us from arresting couple priests at Notre Dame. -10 points Barack, -10 points Obama 1+ -1 = 0.

Good people of America, without further ado, I give you Preeeeeeeesident Zeeeeeerooooooo !!!!

May 15, 2009 at 9:22 PM
The Law said...

Wow... very interesting post here man. You better sit down for this one, my right leaning friends...

If there is one critisicm I have with Obama, his PR skills are WEAK.

I appreciate honesty, especially after 8 years of outright dishonesty at every level of government. But there comes a point where transparency sends mixed and very confusing signals, which ultimately comes off as opaque. Obama has been doing this from day one. If I were his advisor (and if you are lsitening, I'll work for close to nothing!!!) I'd say to him pick a message. Either the situation is F'd the F up, or it's on the rise. This "good news/bad news" PR campaign is hurting more than helping.

I mean, I get it... I really do. He's trying to play straight with the American people and that's good. But I think the better thing to do is choose an agenda and stick to it.

I can't argue this one man... I offer you my white flag |>

May 15, 2009 at 10:57 PM
Devrim said...

Just PR skills tL ? Give me one good explanation for "We'll close Gitmo but we don't know what the heck we'll do with the detainees there" thingie.

How about "This will be the most honest, the most open, the most transparent Congress, evah! Nancy" flippity flopping like a fish out of water on the CIA waterboarding BS ?

Please do remind me how many earmarks were on the omnibus bill ? After promising to go bills line by line to find waste, after promising earmark reform, Mr. Murtha gets to repave his airport, and the response from the White House, it was last year's business. I dunno, last time I checked it was Barrack's signature on the bill. It is not just PR tL, it is the whole thing.

May 16, 2009 at 5:58 AM
The Law said...

Well obviosuly I wouldn't go that far. I'm not a fan of Nancy Pelosi either, as I find her to be rather polarizing, which is exactly what we don't need. In being polarizing... trying to set up repulicans as the evil death star bearing empire, she leaves herself open to flip flopping allegations. If I were her adviosr, I'd tell her to shut the F up lol. It seems to me, she's in a lose/lose because she was either aware of the situation and silent for whatever reason, using the GOPs unpopularity as a political tool, or unaware of the situation which is COMPLETELY unacceptable for a person who is 3rd in command of this nation. She foolishly drew unnecessary fire to herself.

Obama has basically taken a more passive stance, which in the short term is the best thing to do, but in the long term, sets a nasty precedent that says what we did was wrong, and you can indeed get away with it. Still, she should listen to him... be more observant instead of playing the end against the middle.

***

I do think this good news/bad news talk is the adminstration trying to be on the level with the American people. We cannot expect immediate transparency, as MANY poltician's political and legal futures rely on keeping their dirty little secrets. He's doing his best to do the right thing, and he should get credit for that.

May 16, 2009 at 6:12 AM
Mark Meloy said...

This is by far one of the most, umm, odd posts I have ever seen. In the words of Rick Patino, "Larry Bird isn't walking through that door." We all know the economy is a mess. Most enonomists are predicting the end in the next 12 months. Realistically, what else could we possibly ask for? We are far better off looking forward right now than we were a year ago. I agree Pelosi is a problem, but it is Obama that is walking away from the torture issue, and rightfully so. By many accounts, things are moving in the right direction, yet the right continues to sit back, and using my favorite term, (yes, its mine) Statler and Waldorf the situation, content to make a name for themselves as the sarcastic, self proclaimed intellect they believe themselves to be. I have no issue getting on Obama when necessary, as is evident in my blog, but this is just silly. Regarding your misuse of statistics, I defer to Mark Twain."There are three kinds of lies: lies, damned lies, and statistics." One can take the same numbers used in this column to say just about anything. An insane amount has been done in the beginning of an administration that followed one of the worst in history. If your longing for the good ole' days of the Bush administration, buy a ticket to Texas.

May 16, 2009 at 9:35 PM

Dev,

I completely forgot about the torture memos. Thanks for addind to the list.

tL,

I was mostly harping on the media in regards to the article. Acedemically speaking, I think the Obama Admin is trying to have it both ways. They want credit for the recent possitive economic news to keep approval ratings up, but they also want people feeling the need for action so that he can pass his budget. I'm not sure it's really doing anything, but confusing the average person. To quote Steve Martin from Trains, Plains and Automobiles, "Here's an idea. If you are telling a story...Have a point! It makes it so much more interesting for the listener."

Mark,

I rarely use sarcasm. I think this is the second post out of all my posts that was sarcasm. A good communicator tries to use multiple methods in conducting a message to a listener. I do not share your optimism of the current economic situation. One year ago we had normal unemployment rates and a laundry list of good options to fix the problem. Today, unemployment is at nearly twice the normal level and Bush and Obama have taken actions that drastically cut down our number of viable options. Had the correct stimulus been taken in June 2008, would we have lost so many jobs in the last 6 months? I don't see anything to get excited about until unemployment is below 6%, inflation is under control, and GDP is growing again at 5-6%. However, it is the opinion of this economist that the actions taken by Bush and Obama have resigned this country to a long and hard recession or recovery. Take your pick. Obama agrees with me. He said himself that his level of spending was unsustainable. I have zero enthusiasm to see one bad administration followed by another bad one.

Not sure exactly what stats I used that you were refering??? I only ever use stats to show a relationship between things. I don't try and prove anything with them.

tL and Mark,

I actually measure the success of a post by whether or not the left readers need to pull the Bush card. I really don't see the relevance for two reasons. First, he's not President and there is no one in the entire Federal Government who has any ability to influence policy using the policies of Bush. Second, if one road is wrong, that does not mean that the opposite road must be right. I fail to see how Bush gives Obama some kind of pass on any of his bad policies.

May 18, 2009 at 1:37 PM
Mark Meloy said...

That Bush was President will be affecting us for some time. Unfortunately, President of the United States is not a position where the decisions made end their impact once he leaves office. There is no start over button, so to try and tell yourself that Bush's reign is over and no longer needs to be brought up is naive. starting a business from scratch vs. fixing a broken one are entirely different animals, Obama needs to steady the previous disaster while setting a new course at the same time. Gitmo needed to be done. I wrote in my blog at the time that it was an empty gesture, and I stand by that, but it was necessary. Overseas, it was an issue, and stood as a symbol for the previous administration.
Additionally, most of the prominent economists, Krugman being one, feel we are bottoming out in the recession. If that is the case, and there are positive signs, Obama actions have been successful in shortening the projections given just 6-9 months ago, many of which called for multiple years.
I am no fan of Pelosi, and have not been for years. while Obama is trying to walk away from this issue, she will not let it die. I am for no investigation, and being done with it. I cannot defend her actions in any way.

May 18, 2009 at 8:00 PM

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