Can Obama Fix the Economy?

Obama cannot fix the economy. Nobody can! They can only change who pays for it and so far it is the savers and the tax payer who is paying the bill for borrowers and the bankers.

Today's economic problems are not about what we are doing now. They are about what we have already done for many decades. The mistake was to inflate credit to excessive levels. FED made credit easy, America borrowed. Inflated the money supply with borrowed money, inflated the prices and salaries. We borrowed from the future. The future is here. Money supply will deflate. It is not reasonable to expect that all will be fine when the pay back time arrives.

We are merely borrowing and spending to sustain our unsustainable life style. This is like being a rich kid who inherited a fortune and is wasting it on nightlife. Consumer economy is a myth. When the multinational corporations are done plundering America, they will simply move out to suck the blood of other nations. They are working hard to create consumer culture elsewhere around the globe. Consumer consume, go into debt and become poorer. Only producers prosper.

Deficit is around 1.5 trillion a year. Calculate how many jobs that deficit is funding. Imagine life if Uncle Sam cannot borrow. It is going to be the biggest economic crash the world has ever seen. We cannot sustain our jobs at the current salary levels and the free market is telling that to us as it is. Loud and clear.