Obama Tells American Businesses to Drop Dead

[acolyte]

Kevin Hassett
June 9, 2009


I’ve finally figured out the Obama economic strategy. President Barack Obama and his team have been having so much fun wielding dictatorial power while rescuing “failed” firms, that they have developed a scheme to gain the same power over every business. The plan is to enact policies that are so anticompetitive that every firm needs a bailout.

Once that happens, their new pay czar Kenneth Feinberg can set the wage for everybody and Rahm Emanuel can stack the boards of all of our companies with his political cronies.

I know, it sounds like an exaggeration. But look at it this way. If there were a power ranking of U.S. companies, like the ones compiled by football writers for National Football League teams, Microsoft would surely be first or second to Google. But last week, Microsoft Chief Executive Officer Steve Ballmer came to Washington to announce what Microsoft would do if Obama’s multinational tax policy is enacted.



Bloomberg


Obama continues his destruction of America, the country he hates.

[zoomer]

Yes we gave him 6 months, to perform a financial miracle and he's failed us
all...forever...

[Fantasy Chaser]

Yes we gave him 6 months, to perform a financial miracle and he's failed us
all...forever...

Hey genius, he blew it in the first month with the nearly trillion-dollar "stimulus." And yes, Bush blew it with the bailout, too. Similar BS, different name.

[zoomer]

Hey genius, he blew it in the first month with the nearly trillion-dollar "stimulus." And yes, Bush blew it with the bailout, too. Similar BS, different name.

AAAAggggg yes you voted for Bush's trillion dollar military budget. I didnt.
I repeat Obama, has received through no fault of his own. Bush's trillion
dollar war dept. We never asked for Bush's mistakes...It was forced on to
Obama...yes your a genius isee that..

[EthanLeeVita]

Well said Fantasy Chaser. :) Two parties, same ideas.

[Bullseyed]

Well said Fantasy Chaser. :) Two parties, same ideas.

Yes and no. What Bush started with the banks was unfortunate, but not too terrible.

Bush supporting the fund extension to GM was what was questionable. On one hand, letting them keep business as usual until the new presidency seemed to be a good idea for everyone. On the other hand, it kind of was helping Obama out at the expense of GOP values. If GM had gone under before Obama took office, we'd be better off today TBH. I think if Bush looked back now, he wouldn't have given GM the money.

Two parties, similar ideas with different purposes.

I realize it may be vague, so I'll try to outline what I mean a little bit.

Bush was more in favor of the tried and true "give them a loan, let them do their thing, they'll pay us back later".

Obama is in favor of "buy their company, fire their board, obey what I say".


Of course, people will say "On what grounds can Bush give a loan to them". Some would cite the common good, society as a whole, etc. Perhaps, but lately I've been fond of a different angle involving the way money works.

These days we are on fiat money. Money has no value, the government says it is valuable so it is valuable. This is different than a gold or silver standard. We cannot take a dollar to the government and say "give me my piece of gold". Due to this fact, the government has been turned into a bank of sorts, whether we like it or not. Printing money to give to a company under this system isn't necessarily a loan, it is management of the value of the currency, which is determined by the government to begin with.

Complicated concept, for sure. I'd like to have a gold standard back, but I'm not sure if a gold standard is realistic or not anymore. There may not be enough gold around to make a real gold standard work.

[EthanLeeVita]

I too oppose the inflationary central bank called the federal reserve and their false currency called federal reserve notes. I'd love for a free market currency(likely in gold and silver) to exist.

[Bullseyed]

I too oppose the inflationary central bank called the federal reserve and their false currency called federal reserve notes. I'd love for a free market currency(likely in gold and silver) to exist.

I don't oppose the Fed, and I think the Fed does a decent job. The nature of fiat money is unfortunate, but seems to be the best system for the job. Trading gold in dollars seems to work about as well as trading dollars in gold. The US has more control this way. It's just unfortunate is all.

[Cookie Parker]

The author of your source was McCain's economic advisor during the campaign.

Gee...think there's much bias in that little story? Much slant?

[candygirl]

AAAAggggg yes you voted for Bush's trillion dollar military budget. I didnt.
I repeat Obama, has received through no fault of his own. Bush's trillion
dollar war dept. We never asked for Bush's mistakes...It was forced on to
Obama...yes your a genius isee that..

But of course you fail to mention that Obama has already outspent Bush. The new deficit spending that Obama has proposed is his fault.

You also complain about the war debt but you don't complain about the bailout and stimulus debts that cost way more than the war.