Saturday, September 10, 2011

Why Obama's new jobs proposal won't work & will continue to fail

Dylan Ratigan's "extraction" rant by everyone from politicians to businesses to China to Wall Street using the US national credit card without limit.

The problem with Obama's pro-business proposal(s) is that he assumes if A then B. If he gives business what they want (he's basically on his hands & knees now) they will give him what he wants "jobs" (or 4 more years). So far businesses  continue to take government stimulus, hoard it, bonus themselves out and re-invest abroad. They've learned that as long as this economy stays stuck in the mud from a labor/economic standpoint the government will continue to print money and give it to them. "Extraction" seems like a pretty good word to describe this on-going process. This relationship sounds more parasitic than symbiotic. The silent killing bi-product of all these bailouts will be the thing everyone talks about but no one takes seriously "morale hazzard" which is the ultimate structural cancer.

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