In response to:

When an Insufferable Blowhard Runs Out of Money This is What it Looks Like

Mike1825 Wrote: Aug 12, 2012 1:18 AM
With all due respect to your interpretation of economics, the government is the source of tax rates, national fiscal policy, and regulatory issue all of which directly affect the opportunity for the free market to develop wealth in America. All of those things are contributory to (or deleterious to) GNP and wealth. And while the government jobs that you seem to hold in low esteem may not produce a direct profit they do form the system by which we initiate and control our rules of law and commerce so that our citizens have reasonable opportunity to earn wealth, so it is reasonable to posit that they do indeed contribute to our GNP even if indirectly.

Let me set the scene for you: Rising oil and gas prices, rising equity prices and falling housing prices. Storm signals start winking on the global economic front after a month of a braggadocious presidential tour telling us all that finally the economy has got it right; that it’s on its way to recovery.

Where have I seen this film before? Oh yeah: February 2010, 2011, 2012.

In his State of the Union address of January 2011 and 2012, Obama was bragging about his economic accomplishments.

“We are poised for progress,” he told Congress in 2011. “Two years after...

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