Barack Obama – “the last nail has been hammered”

The last time I wrote about Mr. Barack Obama, I called him ‘the last nail in the coffin.’ I was audacious enough back then, to be optimistic that the economic wreckage caused by this irrational head-of-state could be repaired. However, over the past few months, Mr. Obama’s irrationality has gathered tremendous momentum and the velocity with which his thoughts are taking shape of decisions, has driven the nail into the coffin.

About six months ago when I was apprehensive about the Obama administration’s approach to the recession, my apprehension just envisaged a possibility of the recession getting worse than it was. However, over this period of six months, the Obama administration has managed to come up with such jaw dropping decisions and policies that today we are on the brink of a “double dip recession.”

“Double dip recession” is surely an alien term for the U.S. President and understandably so. What do you expect from a Harvard law graduate, who is only capable of emotion-driven mesmerizing speeches that are verbal rhapsodies for connoisseurs of the language, but factually devoid of substance? For me, Mr. Obama is the best example for a ‘brawn over brain’ President.

A lot of people are perhaps ‘bowled over’ by the courage to take unprecedented and path-breaking decisions. If one remembers Mr. Obama’s swearing in speech, he emphatically stated in a high-pitch voice that “change is coming to America.” Little did we know that he would liken change to preposterous policy decisions. Nobody would have then imagined that ‘change’ would mean the ushering of the socialist ideals into the American system. If this toxic waste if not controlled, disaster of unimaginable proportion shall ensue.

The Obama administration came up with a $ 750 billion war chest called TARP – Troubled Asset Reconstruction Program. Another of those linguistic beauties that Mr. Obama is so good at. The abbreviation is very similar to CRAP and the concept too is no different. What sense does it make to pump in billions of dollars of taxpayer’s money into private enterprise and then suddenly asking them to pay-up out of the blue? If the argument for the sudden recovery demand is the apprehension of taxpayer’s money going bad, then the administration would have been better served not to have used it in the first instance.

Just when the economy showed signs of “stimulated growth”, CITI Bank came with quarterly losses running into billion of dollars. The only reason of the loss is the repayment of the TARP installments. If such repayment can plunge a profitable enterprise into a multi billion dollar loss, it needs no great economic acumen to realize that the recovery was conditioned.

We are living in an illusion of recovery, whereas the truth is we are sinking deeper into trouble.

All the billions administration has pumped to detoxify the toxic assets is all borrowed from China. The US treasury bonds are a major component of China’s foreign exchange reserves and the day the psychic Communists decide to offload their holdings in the open market, like how cow drops dung, the dollar value will plummet to blood-curdling levels. This is a possibility created by the sheer genius of the Obama administration.

Change is coming to America. This change is what we surely do not need.