Alternative Views Of The Economy Or As Bette Davis Once Said: "It's Goin' To Be A Bumpy Night."

In this election year one would expect any incumbent President to paint as pretty a picture as possible when it comes to economic conditions. I fully expect President Obama to do the same.

I am sure he will point out that the unemployment rate has come down from the high levels incurred during the Great Recession. He will point out that Chrysler and General Motors are still in operation and creating jobs due to his auto bailout plans. He will point out that many leading economic indicators are turning positive, possibly citing the improving economic leading indicators in the March, 2012 time frame.

What he is unlikely to point out is the following, alternative views of the economy's health:

1. While the official unemployment rate is coming down, now around 8.3%, this administration had stated it could go as high as 8% if the $830 billion economic stimulus package was not passed. It was passed, $830 billion was wastefully spent, and we still have trouble getting down to 8%, never mind going as high as 8%.
2. The President is unlikely to point out that this 8.3% is probably bogus since employment may not be improving at all since many people have given up in frustration looking for a job, which removes them from the government's unemployment counting process, artificially lowering the official unemployment rate.
3. Additionally, the President is unlikely to point out that the unemployment rate calculation rate may be bogus AND manipulated by the Federal government. The primary evidence of manipulation occurred back in January when the Obama administration reported that about 1.4 million Americans applied for first time unemployment benefits in January, the Obama administration reported that about 240,000 jobs were created in January but the unemployment rate actually went down .3 percentage points despite having unemployment benefit applications outnumber the number of jobs created by a more than five to one ratio.
4. By the way, the President is unlikely to point out that last week another 386,000 Americans applied for first time unemployment benefits, about the same, unimproved weekly rate that applied back in January.
5. The President is unlikely to point out that tens of billions of dollars from the auto bailouts are still outstanding and unlikely to ever be recovered for the American taxpayer.
6. The President is unlikely to point out that his administration was unable to fix Fannie Mae and Freddie Mac and that these two government organizations continue to require billions of dollars of taxpayer wealth every year to remain solvent.
7. The President is unlikely point out that the price of a gallon of gas has doubled on his watch, restricting the amount of money consumers and businesses can spend to expand the economy.
8. The President is unlikely to point out that the Federal deficit in February, 2012 was almost $200 billion, i.e. the Federal government spent $200 billion more in one MONTH than it received in tax and other revenue.
9. The President is unlikely to point out that the $200 billion February deficit was almost as much as the Bush administration ran up in a whole YEAR of its term.
10. The President is unlikely to point out that the almost $200 billion debt that his administration ran up in one month put an additional national debt burden of about $1,700 onto each American household.
11. The President is unlikely to point out that under his administration, the national debt has grown by over $5 TRILLION, saddling current and future generations of Americans with debt equivalent to over $130,000 per U.S. household.
12. The President is unlikely to review the opinions of Stanford economics professor of Edward Lazear, who was chairman of the President's Council of Economic Advisors from 2006-2009: "Threats of higher taxes, the constantly increasing regulatory burden, the failure to pursue an aggressive trade policy that will open markets to U.S. exports, and the enormous increase in government spending all are growth impediments."
13. The President is unlikely to point out that annual economic growth since the Great Recession has ended is only 2.4%, compared to the average annual growth of 3.2% since World War II, making this recovery one of the weakest, if not the weakest, economic recoveries of all time.
14. The President is unlikely to cite the opinion of David Rosenberg, chief economist for investment firm Gluskin Sheff since in March, when the economy added a net 120,000 jobs, far less than hoped, Mr. Roesnberg stated: "It's been the weakest recovery in the post-World War II period."
15. The President is unlikely to point out that most, if not all of his economic programs have been abject failures, costing the American taxpayer billions of billions of dollars, and include such fiascos as Cash For Clunkers, Cash For Appliances, HAMP, Solyndra, and a myriad of other failed alternative energy "bets."
16. The President is unlikely to point out an article that appeared in the United Kingdom's Daily Mail newspaper last week that the International Monetary Fund (IMF) warned that the eurozone may break up and prompt a global economic recession, as reported in its recent World Economic Report.
17. The President is unlikely to point out the failure of the Federal Reserve Board to spark economic growth via its two "quantitative easing" programs and that "quantitative easing" is a nice way of saying the Fed has printed over two TRILLION dollars worth of false wealth, actions which devalued the dollar and wealth every American and has set the stage for massive inflation at some point in the near future.
18. The President is unlikely to point out that his administration has taken little, if any, concrete steps to clean up the waste, fraud, and criminal activity involved in various programs such as Medicare, Medicaid, Social Security, food stamps, etc., steps that are needed to recoup the more than $500 billion a year the Federal government loses to incompetence and fraud.
19. The President is unlikely to point out that the uncertainty his policies have introduced into the business market, from Obama Care taxes, fees, and regulations to the lack of a coherent and definitive taxation reformation strategy, has been a substantial drag on economic growth and hiring.
20. The President is unlikely to point out the opinion on Tom Hutchinson, who is a contributing writer for the Moneymax online brain trust, that Spain is currently under the gun as yields on its bonds are rising steeply and the problem is that Spain is much too large a country to bailout like Greece. Mr. Hutchinson's expert opinion is that "this situation is unlikely to end well."
21. Recent news articles report that about half of this year's graduating college seniors are likely to be either unemployed or under employed once they receive their diplomas.
22. The President is unlikely to point out that people like Mr. Hutchinson estimate that the growth in corporate earnings, one of the few economic bright spots over the past year or so, are likely to be flat in 2012, contributing to continued weak economic growth for the near future.
23. The President is unlikely to point out that all types of construction (commercial, residential, etc.) as measured by every index, such as the Dodge McGraw-Hill Construction Index illustrated below, is still well below historical norms with no indication that a strong recovery is imminent:

So yes, Bette Davis got it right many decades ago. While the President will paint a daylight glow to the economy, given the very few positive aspects listed above, it is going to be a very bumpy night as we try to ride out Europe, outlandish government spending, skyrocketing national debt, a sagging construction market, government spending waste at every turn, low economic growth, high gas prices, high unemployment, European economic problems, and the specter of high inflation.

Yes, it is going to be a bumpy night, a bumpy week, a bumpy month, a bumpy year, and a bumpy future until we finally get people into office and the government who actually know how to manage an economy, people with a totally different approach to the methods and approaches that have resulted in our current predicament and bumpy nights.

"We invite all readers of this blog to visit our new website, "The United States Of Purple," at:

http://www.unitedstatesofpurple.com/

The United States of Purple is a new grass roots approach to filling the office of President of The United States by focusing on the restoration of freedom in the United States, focusing on problem solving skills and results vs. personal political enrichment, and imposing term limits on all future Federal politicians. No more red states, no more blue states, just one United States Of America under the banner of Purple.

The United States Of Purple's website also provides you the formal opportunity to sign a petition to begin the process of implementing a Constitutional amendment to impose fixed term limits on all Federally elected politicians. Only by turning out the existing political class can we have a chance of addressing and finally resolving the major issues of or times.

Our book, "Love My Country, Loathe My Government - Fifty First Steps To Restoring Our Freedom And Destroying The American Political Class" is now available at www.loathemygovernment.com. It is also available online at Amazon and Barnes and Noble. Please pass our message of freedom onward. Let your friends and family know about our websites and blogs, ask your library to carry the book, and respect freedom for both yourselves and others everyday.

Please visit the following sites for freedom:

http://www.cato.org/
http://www.robertringer.com/
http://realpolichick.blogspot.com/
http://www.flipcongress2010.com/
http://www.reason.com/
http://www.repealamendment/