The calm before the depression
The Calm before the depression.
It has been almost 6 weeks since the election of Barack Obama to the Presidency and the reality of it is beginning to set in on both sides.
For the liberal Democrats, the reality of 8 years of being stymied coming to an end is hitting them full force. They are now gleefully planning their agenda, and unfortunately, the reality of that is now hitting home.
The famed Massachusetts Senator John Kerry has announced that the United States is going to have swift change on greenhouse gases. Shouldn’t someone remind him that he was not the one elected?
Kerry loved the Kyoto protocols, almost as much as he loved himself. The problem with the Kyoto protocols is they placed mandatory restrictions on the economies of the developed world (primarily the United States) and no restrictions on the economies of the developing world, including China and India.
Mandatory caps on “greenhouse gases” is one of the cornerstones of Kyoto and of the new treaty being negotiated in Poznan, Poland.
But, here’s the problem. Ignoring the issue of global warming as a hoax, the people who wrote Kyoto and presumably, who will be writing this treaty hate capitalism and hate the west. The United States is prosperous because we found an economic system that worked and we used it, our citizens work hard and we have succeeded. The hard leftists, who wrote Kyoto, and presumably this new treaty as well, don’t believe that. They believe the United States got ahead by cheating, dishonesty and the oppression of the third world. They believe our powerhouse economy should be crippled and, from an economic point of view, we should be reduced to another crummy socialist state, which produces little and has almost no prosperity (except for the elite ruling class).
As we enter 2009 and following, we are in for a rough time. With all things being even, there are predictions of economic crisis, with double-digit unemployment figures. The Obama administration seems to want to make this even worse. By allowing the Bush tax cuts to expire, there will be a defacto tax increase, which will hurt the economy. If congress passes the tax increases that the hard left of the Democratic party want, plus the so-called “greenhouse gas” restrictions, a bad economy will turn into a disastrous economy.
Given the way the Obama and the democrats are going to govern, it looks like a depression will be coming soon to an economy near you.