Wednesday, September 19, 2012

Here's the Result of Obamanomics

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Over the last 100 years, the US was the place where the smart money went. Regardless of the party in charge, the business of America was always business and people who wanted stability bought the dollar. We thrived in all conditions and our political leadership always maintained calm, steady economic liberty.

Not anymore. The increased regulations set forth by the EPA and other agencies coupled with high corporate taxes and failed ventures in "green tech" have left us a shell of what we used to be and a poorer nation as a result. We've sunken to depths unheard of and been passed by nations that have a socialist side to them but also maintained the economic freedom so cherished by investors both here and abroad:

Canada has taken its place among the Top 5 countries with the most economic freedom, according to a new Fraser Institute report — now leaps and bounds ahead of the United States thanks to the gradual shrinking of the Canadian government since the mid-1990s as America’s just got bigger.
And where is the good US of A?  Try 18th.

Yes, the US is now behind such powerhouse economic engines as Mauritius and Chile. 

how the hell did we get to this point? By instituting policies designed to make us outcasts. Obama wanted class warfare and this would be one of the results of that although he looks at it more as a feature than a bug. 

In 2000 we were #2, last year we were number 8, this year we dropped 10 spots. The dollar is essentially worthless and world markets are looking more and more at the Yuan as an alternative. If the Euro did not have nations such as Greece and Italy involved, they would have been the currency of choice two years ago.

Instead of making the dollar strong again and working on revitalizing our business climate we now have QE-infinty, an all out war on businesses and a strong possibility that Obama may win and continue our spiral that will land us near Iran and Cuba. Instead of keeping debt low and suffering for a year, Obama wasted nearly a billion dollars on "shovel ready projects" that enriched his cronies and kept us in the same position (or an infinitely worse one) for three and probably a few more. We have seen our bond rating drop twice since Obamanomics took effect. 

Who wants to invest in a nation that berates those who do and belittles those who complain about it? Evidently a lot less people than previously wanted to. 

On the flip side we see Canada moving way up because they use exploit their natural resources, welcome investors and deal fairly with the world's businesses. Stephen Harper has thrived by using the model America once did and when he offered us good terms and a chance to reduce our costs on a major import the Obama administration spit on him and said no. 

This is as embarrassing as anything I've seen since the last time Joe Biden spoke in public.

If you want to know why Estonia is moving up, read this. It's a lesson Obama should have learned while hanging around the Ivy League.

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