Economy: In his weekly address, President Obama railed against Wall Street for giving "bad advice" that costs American families billions a year. OK, but what about his bad policies that have cost them far more?
The president used his precious radio time to lash out at financial advisers for mistakes he claims cost Americans $17 billion a year.
Fair enough, but if that sounds bad, we did a little number-crunching of our own recently and concluded that the hyper-regulation and poor economic incentives embodied in Obamanomics have cost the U.S. economy close to $1.7 trillion of GDP annually.
Obama's remarks this weekend are another case of talking about "middle-class families," but not noting his own policies are largely to blame for their malaise.
Yes, Wall Street has its incompetents and wolves, as does any industry. We have hundreds of laws against such behavior, and those caught defrauding others should be charged and, if guilty, sentenced.
But Obama's sweeping indictment of the financial advisory industry sounds like another "us against them" assault on wealth and investment — scaring average savers and investors, while the government puts its hands deeper into their pockets and tightens its control.
And we've traveled this road before.Read the rest of the story HERE.
If you like what you see, please "Like" us on Facebook either here or here. Please follow us on Twitter here.
1 comment:
______________________________________
Hillary Clinton: We were 'Dead Broke' Upon Leaving White House
The Clinton'S were 'Dead Broke' —
Is USA 'Dead Broke' also ???
America is deeply INSOLVENT
______________________________________
RATTLES this PONZI Scheme,
LIFE in America will CHANGE RADICALLY Overnight
………………………………………………………
The USA government is BORROWING
about 8 TRILLION Dollars a year …
The only way that this GAME can continue is
IF the USA government can CONTINUE to
BORROW gigantic piles of MONEY
at ridiculously low interest rates.
And our current STANDARD of LIVING
greatly DEPENDS on the Continuation of this GAME.
IF something comes along and RATTLES
this PONZI scheme, LIFE in America
could CHANGE RADICALLY almost overnight.
www.ZeroHEDGE.com/news/2014-09-30/if-something-rattles-ponzi-scheme-life-america-will-change-overnight
______________________________________
OBAMA: The Shadow of Crisis has PASSED
"The shadow of crisis has passed, and the State of the Union is strong."
The nation is ready to "turn the page" from years of financial hardship.
Mr. OBAMA does NOT KNOW HOW to SOLVE MAJOR ECONOMIC PROBLEMS
______________________________________
THOU SHALT NOT STEAL
WASHINGTON POLITICIANS are STEALING
the FUTURE EARNINGs of the American People
and issued IOU to them to pay it off.
______________________________________
It’s The DEBT, Stupid
On a moral level,
we are placing a tremendous obligation
on future generations
that will UNFAIRLY limit the PROSPERITY
they can enjoy tomorrow
in order to finance our consumption today.
______________________________________
The fundamental failing of today’s Global ECONOMY:
Too Much DEBT.
We have taken too much of DEBT on, too fast,
in too many markets around the world,
to have any hope of MAKING GOOD ON IT.
In the USA alone, total credit market DEBT
stands at over $57 trillion
and is doing its damnedest to continue
expanding exponentially.
Since simple math shows us that this DEBT level
cannot be supported,
the key questions to ask at this stage are:
Will the UNSUPPORTABLE DEBT DISAPPEAR
via DEFAULT or INFLATION ?
And very important:
When these DEBTs do DISAPPEAR,
WHO will take the LOSSES ?
______________________________________
www.zerohedge.com/news/2014-09-14/its-debt-stupid
www.peakprosperity.com/blog/87309/debt-crash-course-chapter-13
______________________________________
www.ZeroHEDGE.com
www.RealClearPOLITICS.com
www.RealClearMARKETS.com
www.YouTUBE.com/BoomBustRT
https://www.YouTUBE.com/user/BoomBustRT/Videos
______________________________________
Post a Comment