Wayne Root: “The Golden Rule: He With the Gold in This Obama Depression Rules”

The economic news is all bad, and I mean 100 percent bad to the bone. As in a nightmare. As in an Obama Great Depression. Just as I’ve warned and predicted for 3 years now- Obama’s policies would lead to economic disaster. It’s happening.

The Chicago PMI (Purchasing Managers Index) collapsed to 52.7 from 56.5. This is a miss as wide as the Grand Canyon. That’s the lowest it has been since September of 2009. What this all means is that manufacturing is grinding to a halt in Chicago- Obama’s hometown. If the President can’t make the economy go up in his own hometown (with bailouts, stimulus, green energy, government “investments” etc.), what do you think that means for the rest of us?

Claims for jobless benefits rose. The number of Americans workers going without paychecks for 6 months or more stands now at 5.4 million. That’s up 300,000 just since April. In May, employers announced plans to cut nearly 62,000 jobs, a 53% increase versus April, and 67% versus May of last year. Private employers created only 69,000 jobs, well below the expected number of 150,000. And GDP was a disappointing 1.9%, even lower than an anemic 2.2% last month. This is like playing LIMBO- how low can we go under Obama?

Click here to see the complete article published in the Blaze

6 thoughts on “Wayne Root: “The Golden Rule: He With the Gold in This Obama Depression Rules”

  1. Joe Buchman

    I disagree. The defense of the Republicans is absurd. The cost of the wars on drugs and GWOT in human life is far more damaging than the Obama debt, IMO. And WHO CARES which one is driving slightly slower? — aside from which it’s NOT THEM — it’s US. They’re pandering to what uneducated people say they want. We have, as a group, the government we deserve. The solution is not to pander to the TEA party to get elected, it’s to educate the Planet about how Libertarianism is the key to peace, prosperity and a planet that cherishes human life rather than constant war.

    This article, IMO, does nothing to advance that cause. If anything it distracts from real solutions. A call to horde gold (while obvious in a world with the results of quantitative easing about to whirl down on us) does not get more Libertarians elected, or cause voters to get educated about what is in their long-term best interests.

  2. ATBAFT

    Joe Buchman is right. Unfortunately,mostof the world isn’t listening.
    I’d like to see a “told you so” article – someone should go through 40 years of Libertarian Party campaign literature and show how what MacdBride and Clark and Bergland and et al warned about all came true. Most voters haven’t a clue about how prescient the LP has been. To them, we dropped out of the sky yesterday.

  3. Tom Blanton

    Root reveals how thoroughly statist he is when he bloviates about Obama’s ability to control the economy. Presidents simply do not have much control over the economy, nor should they. Yet, Root believes Obama hasn’t used the magical powers of the presidency to fix the economy AND Root believes that he should.

    What Root seems to want is a fascist dictator that controls the economy by fiat. He should be happy that Obama is pretty much a fascist dictator on most matters.

    The cure for the economy will never come from the state. Having statists make marginal tweaks in a command and control “mixed economy” is no solution. But then a statist like Root or Obama wouldn’t know that.

  4. Tom Blanton

    Let me add: screw Root and screw the Libertarians who embrace this clown. They should all goose-step back to whatever hell hole they crawled out of.

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