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Archive for May 3rd, 2009

Barack Obama states in an article in the New York Times Magazine today that financial profits in the corporate sector which have been a large contributor to overall corporate profitability in America will have to be less in the years ahead. He also indicated that if WalMart were paying employees $25 per hour then the loss of jobs in the manufacturing sector would be less of an issue with American workers.

Obama’s stong anti capitalist comments should ripple through the markets tomorrow. Obama may deny that he is a socialist, or a progressive fascist however, his remarks in the  Times article prove otherwise. Obama believes in a planned economy that would shift both capital and human resources to sectors that the government would determine were in need of resources as opposed to allowing market forces to dictate the allocation of resources. He has cloaked the necessity of an economic transformation around the failed policies of his predecessor and a stupurous nation has failed to challenge his assumptions.

The President will not be challenged by a euphoric democratic leadership in Congress as he traverses the path toward a socialist economy. Nancy Pelosi appears to be star struck when she is asked to comment on any thing Obama related and Harry Reid continues to follow Pelosi’s lead. How quickly they have forgotten that this President is the former inexperienced junior senator from Illinois.

Obama may be the most disciplined or certainly the most practiced politician we have seen in our lifetime to occupy the oval office. He will not deliver even the shortest address without the use of a teleprompter and his press conferences are orchestrated in such a manner as to limit any debate with the press. His is the politic of the consummate progressive that believes that government should fulfill the role of  the solutions provider for the masses no matter what the issue. When Obama states that corporations may have to be less profitable for a more profitable American experience he is demonstrating his lack of interest in a free market economy and the unbridled entrepreneurism that was the rock upon which this nation was founded.

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Barack Obama, his administration and the Democrat party were celebrating the numerous events of the first 100 days of the Obama administration this past week, while a long suferring remnant of America’s former industrial dominance was rushed into a chapter eleven bankruptcy from which it may or may not emerge. The decision by Chrysler to seek the protection of  Bankruptcy was heralded by Barack Obama and members of his administration.

Obama, as has been his inclination since his ascendancy to the American throne was to take full credit for orchestrating Chrysler’s decision to seek chapter eleven protection when the greedy capitalist bond holders failed to accept the terms that the federal government had outlined. The government elected to protect the United Auto Workers union while shafting the capitalist ventures that invested in Chrysler’s debt and are in fact the first lien holders of the corporation.

It certainly is not a surprise that the Obama administration chose to protect the union over any corporate bondholders. The UAW after all represents the favorite special interest of the Democrat party and a group that played a significant role in supporting the candidacy and subsequent election of our teleprompter President.

It is telling that in Obama’s remarks to the nation regarding Chrysler’s decision he stated that  ” Bankruptcy is not a sign of weakness “. There are few in American business that would agree with the President. If Bankruptcy were not a sign of weakness and would provide the cure all the company needed then why didn’t the Obama administration push Chrysler toward chapter eleven several weeks ago as oposed to providing a federal bail out.

Obama’s remarks regarding the bondholders and the obvious disdain with which he holds for them is an indication of the lack of free enterprise and capitalist grounding the this President possesses. For lack of a better term the President is a socialist with a progressive Eurotopian agenda that  in the first 100 days of his administration has delivered a clear message to business. American corporations must change by lessening their focus on the attainment of grater profits so that they may focus on the greater societal good. Corporations by their nature are not benevolent organizations. Barack Obama and his progressive supporters aspire to change that axiom. The bankruptcy of Chrysler and the protection of the UAW is another notch in this administrations belt toward weakening the corporate infrastructure in America.

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