I’m expecting the rest of the world to fill the void of leadership in ways we can’t imagine. Here in the US I think O will stall every beneficial initiative, blaming everyone else for every problem.
“Entrepreneurship and small-business #s are a bit harder to fudge- maybe that’s why there’s no denying that the establishment/growth of small businesses -long the real engine of most job growth in this country- has completely tanked.
A major Wall St hedge-fund manager summarizes the statistical fantasy-land created by the Obama Administration as such:
Fake growth: The US economy is growing moderately…. but it’s not growing as fast as the government would have you believe. The Commerce Department recently pegged third-quarter growth at a 3.5% annual rate — but earlier this week, some realnumbers came out. Our exports declined in the third quarter and construction spending was weak. So that 3.5% guess will probably be revised down to a 2.9% annual rate on those numbers alone. … If inflation were measured correctly, GDP growth for all years might be 30% lower than reported.Fake money: The $4 trillion the Federal Reserve printed under quantitative easing that has resulted in millions of regular folks not getting much interest income and, therefore, they’re cutting back spending. That’s why the economy is weak.Fake jobs: The Labor Department adds hundreds of thousands of jobs a year to its count for positions it thinks, but can’t prove, are being created by new companies. This practice, which has gone on for decades, needs to be investigated. On Friday, Labor is expected to report job growth of 230,000 for October. That figure will be boosted by another heaping serving of job guesstimates.Fake financial stability: The artificially low interest rates are not only propping up banks and Wall Street profits but also making the US government’s financial position look better than reality. If Washington had to pay market rates for the money it borrows, the US budget deficit and debt levels — already excessive — would be worse.Fake inflation numbers: Commerce doesn’t only play tricks with the inflation number used to calculate the GDP. It also tamps down the consumer price index — and cheats Social Security recipients and others.”