Tuesday, September 14, 2010

Celente: Obama wrong then, wrong now

In a speech on the US economy in Ohio, US President Barack Obama said he recognized that the recovery has been painfully slow and he called on congress to act by cutting taxes for businesses and middle-income Americans while raising rates rise for the rich. Obama is insistent on letting the Bush tax cuts expire. Obama also called for the enactment of his six-year infrastructure plan that would cost US taxpayers $50 billion in the first year alone. Is this a proposed second stimulus? Gerald Celente of the Trends Research Institute argues that Obama was wrong on the economy before and is wrong now. He failed, says Celente. Obama got his stimulus; he got healthcare. It's not the Republicans fault. It is Obama's, he got what he wanted and the economy is still in recession, explained Celente. But, "he gives a great campaign speech."

1 comment:

The Real Deal said...

But Celente was also wrong then, wrong now.

Why does Celente continue to focus on government, on the Fed? These people and organizations are powerless to repair the black hole they were powered to create. Celente rants on Obama this and that. Obama was elected to run only the Executive branch, not other parts of government, and certainly not the country. In a national disaster of this magnitude, Obama best use of power is to simply talk.

The country problems are such that only a spontaneously triggered social upheaval that turns things over can find a new path.