Four Months ago in an article titled “Mr. Obama: Tear down this wall” I warned “This printing of billions of green paper out of thin air , this policy of borrowing billions more to maintain a wasteful failed economic system ” and the bail out of failed corporations and banks “will only lengthen the painful suffering of millions of people resulting in the eventual collapse of dollar” I wrote that Obama administration should “stop feeding the TOP of the pyramid hoping that the thieves will pass it on to THE PEOPLE.”. I wrote “The writing is already on the “wall”. See where the billions that we already have allocated have gone?! Where are the new jobs? Where are the new loans? ” In a series of article I wrote a whole lot more and I even made some introductory proposal on how to get out of the mess . I very much encourage you to read them again 4 months later ( http://iranian.com/main/blog/david-et/mr-obama-tear-down-wall) and ( http://iranian.com/main/blog/david-et/obanomics-print-green-and-spend ). Considering that I was come out of campaigning for Obama, the reactions to my views by some Obama zealots on Daily Kos or on this site were not too kind and some others just said give him a chance and that we should wait and see what happens to which I replied no we shouldn’t wait, what is wrong today will go even more wrong tomorrow .
Things are not any better yet. The stimulus money that was borrowed from us and the future generations will eventually finish and President Obama will ask for more and the final result will remain to be the same. But it is still not way too late to “change” this failing course but sadly after confessing, Mr. vice president last week continued with these words: ” but we are now only about 120 days into the recovery package….we believe it is the right package given the circumstances we’re in.”
Meanwhile I continue to claim that the current (same old) approach will not “change” the outcome but will only delay it , just to be faced with even worse. Meanwhile once again we heard the words “we misread” , same thing that we have been hearing again and again for the past few years but from different mouths and different sides.
In March I also wrote that some of us have been watching for the the past few years “the deck of gambling cards fall one after another and while the government, the Wall Street, the professional analysts, the CEO’s, the Congressmen and Senators of BOTH parties, Fed Chairman’s and many people kept denying the inevitable. ”