Anyway my focus today is not about the market but about President Obama. I am sure he is one of the most influential US president ever domestically or outside the USA. The world loved him last year and congratulated him for winning the presidential election. He promise "Change" and "Change that we can believe in." However what has he done so far compare to what he promised to do last year?
His biggest promises are improve the economy and US foreign policy. From the first sight look like he is doing quite well but if you look carefully, he is climbing the ladder of the worst US president of all time.
First of all let's talk about US foreign policy. Obama promised us before the election that he will bring back US troops, close Guantanamo and give Iraq and Afghanistan freedom. The world loved the idea and praised Obama for these promise.
However what did Obama do since winning the election?
Afghanistan was having their election, but the election is rigged and corrupted. Hamid Karzai won simply because of graft and force and not support from Afghan.
Iraq is going nowhere near democracy. There are more suicide bombing in Iraq in the past 12 months than the history of Iraq history.
Furthermore instead of bringing back US troops, Obama is actually adding more troops in that 2 countries. The total troops in Iraq alone is rising to 130,000 from 115,000. FYI, all other nation have withdrawn their troops except for USA. That's not all, USA has spent more than 2 trillion US dollar since invading Iraq in 2003. How about the condition of US troops in Iraq? Here are the fact:
U.S. Troop Casualties - 4,340 US troops; 98% male. 91% non-officers; 82% active duty, 11% National Guard; 74% Caucasian, 9% African-American, 11% Latino. 19% killed by non-hostile causes. 54% of US casualties were under 25 years old. 72% were from the US Army
Non-U.S. Troop Casualties - Total 316, with 179 from the UK
US Troops Wounded - 31,483, 20% of which are serious brain or spinal injuries (total excludes psychological injuries)
US Troops with Serious Mental Health Problems - 30% of US troops develop serious mental health problems within 3 to 4 months of returning home
US Military Helicopters Downed in Iraq - 71 total, at least 36 by enemy fire
All these may not caused by Obama but he is certainly responsible for some of it as he still refuse to bring back the troops.
Now, Guantanamo Bay. Why is this torture chamber still standing on earth. I am sure all of us have information about this place and we know this place is hell for those inmates. Why Obama still let the torture activities going? Like Top Gear Hosts like to say : "How hard can it be" to close the Guantanamo Bay. Just charge the inmates and bring them to justice if they did something wrong. What's the difference between USA and Myanmar when both countries lock and torture someone without bringing them to justice?
Second part of this article is economy. Obama did promise a lot last year and it was sweet. He said he will bring the US economy back to its feet. He also promised he will cut down the deficits. Unfortunately, everything goes wrong!
First he appointed Tim Geithner as US secretary of treasury. Then he expanded the Toxic Asset rescue plan (TARP) and add more fund to "borrow" to large corporations through "stimulus package". Then he reappointed Ben Bernanke as the chairman of Fed and lastly he introduced the health care plan which "force" every US citizen to buy insurance policy.
Now if you think any or all of these actions by President Obama is/are good, then you probably don't understand the truth behind it or you are a CEO or chairman of "wall street" large company.
Tim Geithner and Ben Bernanke are no doubt big spenders. Personally i think Geithner + Bernanke + Tarp + stimulus package + health care plan are absolutely good enough to bankrupt US. The scale of this collapse will be much bigger than 1970s, 1980s or dot-com. I even think it will be bigger than great depression.
So after all this, how Obama can reduce US deficits? by spending more money? does Obama understand what is deficit?
Decifit means spending / expenditure higher than income. So how can he generate enough income to cover the huge spending? Enough with reducing deficit, how can he generate income to maintain balance US budget. The only way is TAX. Yes you will see incredible rise of tax rate in US.
Even then I still don't think tax will be good enough to cover US debt. US dollar will crush and US economy will collapse. I can't think of anything that can save US economy except for a giant ball of money drop down from sky.
...... and Obama will stand tall in history as one of the worst US president ever.
No comments:
Post a Comment