No "Bottoming Out"

For the past week, economic gurus, particularly those seeking favor with the Obama Administration, have announced that after examining all available data it is clear that the recession was "bottoming out". The term was used so often that there was a feeling that it just might be true. How could all the experts be wrong? Then the announcement was made. Even with averaging and seasonal adjustments and other statistical maneuvers utilized by the federal government, the new unemployment figures were terrible. Some 467,000 new unemployment claims had ben made and admitted unemployment was at 9.5% nationwide.

Wall Street reacted as expected and the Dow Jones industrial average fell 223 points. The media reacted as expected with minimal reporting so not to mar Obama's reputation. The economic pundits reacted as expected and claimed that the "economy is in the process of bottoming out". [Note: it is no longer the recession but the economy that is no longer bottoming but rather is "in the process" of bottoming.] And Obama reacted as expected by directing the blame towards Bush/Cheney with the statement that "it took years to get us into this mess."

Enough, Mr. President, stop the excuses. You are in charge and you have the tools and you have the responsibility so now demonstrate your competence and move to fix the economy.

The efforts of the Obama Administration to date have been a failure. It is therefore logical for the White House to cease its socialistic takeover and manipulation of American industry and allow the tenets of capitalism to work. American ingenuity will solve the problems. The weaker, unproductive aspects of our free world business sector will be weeded out and prosperity will return. This would, however, require that Obama abandon his drive to make the USA a part of the world socialist order and that is just not going to happen. This solution will occur in when the American voter weakens Obama in the 2010 elections and makes him a one-term-President in 2012.

By the way, Obama and his handlers continue to gently but intentionally mislead the nation as to how bad the economy really is. Buried in the most recent unemployment announcement is the fact the the real percentage of unemployed Americans is 16.5%. This real figure, probably also seasonally adjusted and averaged, includes those American who are looking for real employment but are currently only part-timed employed and those Americans who are unemployed and have just stopped even looking.

No, the economy is not "bottoming out" but Obama's bottom, to use a nicer word, is definitely showing.