The Obama Economy and Self-Imposed Headwinds

« America Should Remember September 11, but We Should Celebrate May 1

Social Security Demagoguery from Mitt Romney and Michele Bachmann: Economically Wrong, Politically Wrong »

The Obama Economy and Self-Imposed Headwinds

September 12, 2011 by Dan Mitchell

This cartoon says it all.

Posted in Humor, Obama, Political Humor | Tagged Humor, Obama, Political Humor | 41 Comments

41 Responses

on September 12, 2011 at 9:27 am jack gott

Until the last three years, I never really understood the amount of hatred that has been taught and fomented towards people who make business their career. As an entrepreneur, I always presumed that–in building products that customers decided created value for them–I was creating a social good. I never expected a medal or a parade, but I thought there was some generally accepted belief that what I was doing was a net positive. And so I happily toiled away, getting immense personal joy from building companies.
What an idiot I was ! It has become clear that we have an entire generation (or two?) or university grads indoctrinated to believe that all business is exploitation. It seems that the implosion of the Soviet system only served to remove the “reality check” from the preachers of Marxists/Critical Theory who dominate the American university, and the result was a generational army for Obama.
Note to Leftists: when the U.S. government declares “WAR” against business people, we don’t fight back….we just quit. One result–my annual federal income tax payments: 2007 > $500,000; 2008 > $500,000; 2009 = $0; 2010 = $0; 2011 = $0 (actually, I expect a rebate/credit of over $20,000).
Why should I risk my savings and work 100+ hours/week, when I can just buy gold and profit from the U.S.’s devaluation and dilution of its currency? Why should I innovate in building a business, when I can profit more and risk less by innovating in tax strategies and macro/currency trading?
I no longer feel any responsibility to create jobs and investments in the US–it’s hard to generate patriotic loyalty to a country whose leadership has declared me “the enemy”.
on September 12, 2011 at 9:54 am Laine

Jack: Don’t give up on creating jobs because of what the colleges are teaching and “producing”! There are a lot of young adults that are taking every little job they can and trying to get ahead that are not even swimming in the academic pond. It makes me sorry, but a little proud to see my young nieces and nephews struggling to make it in the current economic environment. If we get some political change in 2012, then we can start rebuilding our economy. Until then, I understand your frustration, but get ready to get back to work!
on September 12, 2011 at 9:59 am jgreene

Hang in there, Jack. Americans are going to throw out these Socialist-Marxists in 2012. We have one last chance to turn this country around.

God help us; we have so many ignorant people who vote.
on September 12, 2011 at 10:05 am Tex lovera

Jack-

Believe it or not, during Mass last Sunday, when the petitions were being read, our parish priest added one of his own: he prayed for God’s help that entrepreneurs and business owners would create more jobs for people desperate to work. I was greatly encouraged that he did not pray for help for the government to create jobs. If our priest, who is typically a bit on the “socialist” side, is beginning to understand who really creates jobs, there is hope that the rest of our socialist friends may also gain that understanding…
on September 12, 2011 at 10:07 am Nathan Hall

Jack’s comment is an important one. In particular, it seems many people these days believe that the only redeeming feature of business is job creation. But job creation is actually just a side benefit: the real value of business is the creation of goods and services that ultimately make currency meaningful. In a world with no bread, how much bread could you buy with a dollar?

What he mentions about tax strategy and currency trading bears repeating in that light. Businesses are supposed to be productive, not just create jobs. But the government keeps interfering in the market to create incentives for unproductive labor, and reduce incentives for productive labor. Tax strategy, lobbying, litigation and much regulatory work is essentially unproductive, yet matters have been so arranged that these professions pay very well, in money, power and prestige.

We need to get back to the idea that a job is not an end in itself. The value of a job comes from the useful products that it can provide to other citizens. (Not just consumers, by the way. Citizens.)
on September 12, 2011 at 10:09 am subrot0

Same for me. I plan to move my company offshore as quickly as possible where it is friendlier. I actually deferred setting up my business until 2011. Then I got a better offer from the Far East and I will move my business there. I realize 3 jobs don’t make a dent in the US economy but very frankly, it is 3 jobs I have actually created and that will very sadly leave the US.
on September 12, 2011 at 10:11 am Forrest Sergente

-Jack Gott

You are spot on, the left has done nothing but demonize those who actually create anything of value, and they do it to create an “enemy” in order to advance their agenda. Sadly, as history has shown us again and again, socialism always turns out to be a totalitarian disaster.
on September 12, 2011 at 10:14 am Div

Jack: “amount of hatred that has been taught and fomented towards people who make business their career”….really sad if true… That sort psychology prevailed in 1960′s-70′s India, but not after economic liberalization in 1991. You people are going backwards! At least till people like Obama reign.
on September 12, 2011 at 10:15 am BJM

Same here Jack, I’m done. So many small business owners, especially those with niche businesses, that I know or did business with have retired, sold or quietly closed up shop and left urban areas.

Let the Leftists pull the wagon, if they can get it out of Obama’s ditch.
on September 12, 2011 at 10:56 am Dennis

I am ready to expand my business, but only after Obama is Gone!!! I do hope I can hang on until then. Obama is killing this country, and the left is helping.Now if the price of gas goes up again, I’m gonna have to fold up the tent, my business is used by people who have a little extra money laying around.
on September 12, 2011 at 10:57 am Richard Daskam (@RichardDaskam)

I’ve laid off one worker and didn’t replace another. Our sales are down but our profit is the same. Why take the risk of more employees, more taxes and more overhead for the same money?
The current direction of the U.S. and of California gives me no incentives to pour even more money into my business and end up paying even more taxes and high health care benefits.
on September 12, 2011 at 10:58 am John S

Well Said Jack! I am looking at starting a business myself, but not until the end of next year (after the election). If for some reason Obama gets re elected I will have to reassess whether or not to proceed. I’m not going to risk my money and work 80+ hours a week to create something that the left wing liberals just want to take and redistribute to those who do not want to work for it. Not sure why they think that we will want to continue to create businesses and jobs when they take the motivation away. I’ll just do nothing and stick my hand out for my freebies as well. My motto right now is NObama 2012
on September 12, 2011 at 10:58 am Janne Kangas

remember the over-development of the electronics in today’s time the factories are mostly electronics, and it allows people to work via our sites.
on September 12, 2011 at 11:17 am Jim-bowb

With re to Mr. Gott’s comments:

The usual term is “going Galt.” Shrug Atlas, shrug!
on September 12, 2011 at 12:21 pm Marlene Fromann Morgenthaler

People I am convinced now, more that ever that Obama is a sleeper cell from Alkida and he decided not to fly a plane but destroy our economy form the inside out. He has brought this country to near ruin and one more term is all he needs to put the last nail in out coffin. I hope he is enjoying Ramadon. How did we end up with a radicale Muslim as our president? Oh yea, he opened up borders, invited in all the illegal aliens and gave the most unproductive members of our society anything they wanted and made hard work a dirty word. Boom! A economic Bomb worse than any that could have been dropped out of the air!
on September 12, 2011 at 12:31 pm Louis Wheeler

It’s not hard to understand why they hate you, Jack: they envy you. An envious person does not want to take back what they think is their’s (that’s jealousy). Envy is said to be the most corrosive of emotions, because it seeks to destroy others for their success. The envious want to drag into ignominy the winners in life. A mess of crabs, similarly, won’t allow one of them to escape a low bucket which any could climb out of, if it were alone.

Most cultures reward envy. In Japan, it was said, “The nail which stands out gets pounded down.”

It is a common human emotion to resent another’s success. This is especially so when that person exhibits behaviors which are opposite of our own. Entrepreneurs are risk seekers; their opponents are risk avoiders. It is said that, “Those who can, do. Those who can’t, teach. Those who won’t, polemicize.” Another phrase regarding this is, “Intelligent people who can’t tolerate uncertainty, teach; Those who can, enterprise.”

The oddity is not that these intellectuals hate you, Jack, but why our culture, for so long, prevented them from dragging you down. There is something about America which admires achievement — and hates it. Oh! The Envious can idolize thuggish murders like Che Guevara or Fidel Castro. The thugs never earned their power by helping people; they never improved the human condition. The thuggish murderers are part of the process which keeps people like you in their place.

What was it which allowed you to escape your origins, temporarily? I suspect it was a belief in yourself which others don’t have. This belief is not necessarily religious, but is often based upon it. The difference between Western Civilization and most others, was that it believed in a set of principles. Those principles demanded that people find truth. Some people used that truth seeking to explore the world, or they used it to extend knowledge and found Republics; still others, found better ways of creating wealth.

The Envious want what you have, but are deathly afraid of reaching for it, because this would mean that they would stand alone. They are smart enough to achieve what you do, but they are afraid of their fellows. They are right to fear; their fellows will eat them up and spit them out if they deviate from political correctness.

The Envious do not seek truth; they have combined against your kind, Jack, for a century. They have erected institutions which reward caution and sloth, while punishing daring and profit. In avoiding truth, they steer us toward a moral whirlpool. They and their false institutions will soon swamp. A risk seeker can traverse the high turbulence which their actions provoke.

Bide your time, Jack, prepare. You will be needed. In saving yourself, you will necessarily save others. Better yet, in succeeding; you encourage others. Together, you entrepreneurs can guide our culture toward success again. In seeking truth, often enough, one finds it.
on September 12, 2011 at 12:52 pm The Obama Economy and Self-Imposed Headwinds | Support for Life

[...] The Obama Economy and Self-Imposed Headwinds « International Liberty. [...]
on September 12, 2011 at 1:57 pm Mike K

There is a corollary to these comments about business. I’m a retired doctor, a surgeon. I worked long hours, weekends, Christmas, New Years, etc. I made a good living but never got rich because I’m not a very good investor. I now teach medical students. It will take two, if not three, of these students to take the place of a doctor of my generation. They don’t have the work ethic, largely I believe, because they have few incentives. They also have been through the late 20th century university which is hostile to private enterprise.

I hope I keep my health.
on September 12, 2011 at 2:16 pm JerryK

Maybe it’s just Me , but I see more destruction by Wall Street than any other threat . I have a feeling someone is buying up America and it”s corporations for penny’s on the dollar . I see Wall Street as a scam , with the ups and downs on a routine schedule . I thought the stock market was supposed to reflect the productivity of the companys vested in the market . Instead the stocks are driven by some “whim” or “speculation” and the value of the stocks are marginalized by the irrational motivation of the traders .
on September 12, 2011 at 3:26 pm DC

Until enough of the American ppl are effected by their own destructive, envious ideology, nothing will change in DC. So the more business owners/job creators that refuse to be fleeced, pack up and leave, the better the chance that Americans will repent..and vote in ppl who don’t like being righteous with other ppls money.
on September 12, 2011 at 3:28 pm james solbakken

When the communists are safely ded, then I will once again get up off my arse and produce. Until then, the stupid arse world can go have sex with itself.
on September 12, 2011 at 3:42 pm M Tanner

I ran a profitable oil exploration consulting company for decades. With my experience, I discovered and brought to market millions of barrels of oil & gas in several states. Our drill rigs employed hundreds over the years and those workers spent their earnings generously. I employed 4 people in our office, and with the price of oil rising, we were in a position to grow enormously in 2005 and beyond. My accountant informed me that year that my effective tax bracket was 55% including Federal, State, Local, Self Employment, and Property. That excludes Sales, Government Fees on Electric, Heating, Communication, Auto Registration, taxes hidden in every product we bought, etc., etc., etc. I suspect I went home with 25-30% of what I made. I never worked after that beyond my Standard Deduction and Personal Exemption on my taxes. Result: I no longer pay tens of thousands of dollars in taxes, my well paid employees are now working on commission selling clothing, Rig Workers are on unemployment, the stores where they shopped are hurting or closed, and people who could have used the oil we produced can now do without. Congratulations, you killed the golden goose. Get your money from the 48% of the public who pay no income taxes at all.
on September 12, 2011 at 4:04 pm EvilBusiness

@JerryK: Wow, nothing like some noise from a deluded lefty, relying on his “feeling” that something might be happening instead of looking at actual facts. Wall Street doesn’t create or destroy anything. It is a barometer of how investors perceive the value of businesses. If you try to play the market without any research or insight, it’s like playing poker without looking at your cards. Even with a great deal of information in your corner, it’s still like playing poker since no one person can possibly have a handle on all of the factors that are at work. Some people are just better poker players than others. (And some people cheat, but that’s another story.)

Why is everything down right now? Because businesses are scared to operate in this over-regulated environment where they are punished for creating wealth and hiring employees (take a look at the costs imposed on companies from laws like Obamacare). When companies can’t operate reasonably and efficiently to show *gasp* profit – evil evil profit – investors pull out, decreasing the stock price. That’s what is happening right now. Businesses have a responsibility to their investors to show profit. This is an indicator to the investor that he has put his money in a good place. Thus, the more profitable a company becomes, the more investors are willing to pay for the stock.

If you have the amazing ability to see all of these “ups and downs on a routine schedule” and you are not a billionaire, then you are a fool. There is too much uncertainty in the market right now because of the heavy regulatory hand of the government. No one knows what this administration is going to do next in terms of imposing new taxes on businesses.

Who in their right mind would start a business in this environment, when the point of starting a business in the first place is to MAKE MONEY? When did it become evil to make money for providing a product or service? The root problem this economy faces is this mentality. The idea that businesses (or the “rich”) should be taxed and share their profits with those who have put nothing into their business (via entitlement programs and the like) is absurd. Shame on all of you lefties who think that you are entitled to some portion of the money that other people make. You are not the one who took the risk to make something good happen. Those who are unwilling to take that risk are the ones who are forced to rely on someone else for their livelihood, be it a private enterprise or the government. Unfortunately, more and more people are relying on the government, but the government does not create wealth. It can only take it from those who do and “spread it around”. Does that sound familiar?

People who realize that they can get by on the government dole and not have to do anything have very little incentive to start working again. When large portions of the population do this, and the government does not turn them away, they become a burden on every other productive member of society. This in turn makes the economy fold. This is what is happening now, and Margaret Thatcher said it best. We are running out of other people’s money. She saw first hand how this all turns out. Do a little research on what happened in the UK in the 60′s. We are following that same path. The government needs more and more money to support those who cannot or will not support themselves, so they take it from the only source available – the productive private sector. When the profits of the private sector are pilfered by the the government in the name of entitlements, the private sector can no longer sustain it’s level of productivity and must cut back in the form of layoffs and reduced employee compensation. Then there are MORE people who then must look to the government for support… and the cycle continues.

Every person has the ability to create wealth in their own way, large or small. All you have to do is take the initiative. But less and less people are likely to do that when the result is scrutiny, envy and the likelihood that you will be taxed out of existence. I have seen this happen first hand. Free the entrepreneurs to create wealth and they will provide jobs for those that want them. Like so many others have posted here, I am on the verge of creating my own business, but I am waiting until Obama gets out of the way so that I can be productive and not have to worry about what happens if I actually start making money.
on September 12, 2011 at 4:12 pm Luis Di Mare

Very interesting comments (and super-joke!). The demonization of the ownership of capital is central for the left. For Bolsheviks (extreme left) the “crime” was owning capital: Either you allowed your capital to be robbed or probably you got murdered (and one of communism´s favorite way of murdering was BY HUNGER: Not only it was extremely SADISTIC but it often could pass as “natural” famine).

One of the left´s tactics is destroying people´s self esteem: If you feel of little worth then you may feel bad when you see someone who is better than you. But if a person has normal self esteem then she does not care much about this or that person being better than her. Often what seems “envy” is in fact destroyed self esteem: Destroyed self esteem 1) “justifies” redistribution schemes and 2) People´s self esteem is often destroyed in order for them to accept the outrageous power that the political class has over people in leftist societies

In every poll that I have read small business owners are among the most respected and trusted people while politicians are among the less respected/trusted people. It is academia, media and the political class who often are leftist, i.e., who are for more outrageous power and control and money for the political class and not the people. Very revealing how many commenters here mention academia´s leftist bias.

I hope academia and media reign may soon be over thanks to internet and blogs like this one that actually show the INCONVENIENT TRUTHS that mainstream media and academia never showed-

Just allow the people to repeal on referendum any laws and this millennium long nightmare, caused by the political class, will be over. Just MHO
on September 12, 2011 at 6:06 pm Thomass

If the left can have sanctuary cities then I think we should do something similar. They’ve set up networks to help train illegals how to get around the system while leftists at various levels of power in government help look the other way when need be. We should do something like this for obamacare and stupid federal regulations. Just find a friendly city and figure out how to both ignore idiot rules and not have our assets seized…

In the unfortunate instances where people were caught, it would also open up the opportunity for more legal challenges (you’d have standing since you were paying a direct penalty for not following the regulations or obamacare)… the existing lawsuits don’t really challenge it (obamacare) from every direction that it is unconstitutional.

Hey, the line can be you don’t have to go to Mexico to get real medical care now, stop by city X!
on September 12, 2011 at 6:22 pm Susan Gorgo

Whoa, Jack!

You paid a million in taxes in 07 and 08?

You go boy!!!!
on September 12, 2011 at 8:21 pm MichaelEdits

I still don’t understand all the hatred that’s aimed at Obama.
on September 13, 2011 at 6:16 pm Louis Wheeler

Michael, we have had three years to learn what Obama stands for.

He has never done anything constructive in his life; he has always lived at other people’s expense. He is a legal thief, because he wants to redistribute other people’s wealth. He wants to take the fruits of your labor and intellect to buy off his political cronies. He despises the people he steals from. He has contempt for Blacks while he hides behind their color. He wants to live like a prince on your efforts while whining that you are not corroborating. He knows nothing but Saul Alinsky’s Marxist politics.

He wants to destroy America and turn it into a Social Democracy. He is a malignant narcissist who believes that the world revolves around him. This makes him little different from Adolf Hitler, Joseph Stalin or Juan Peron.

Obama is at war with ordinary Americans. He wants us enslaved or dead. These characteristics are no one’s which would cause love or even tolerance.

If Obama had not been politically protected and guided by the eastern liberal establishment, he would have ended his life in the gutter where he belongs. At least there, he would have served as a useful example of how not to construct a life.

Ps. The above statement is not one of hate; it is disdain.
on September 16, 2011 at 3:32 pm Questionman

@Louis, please! That IS a statement of hate! Obama has turned America racist AND stupid! Those calling for his impeachment are racist to the core and that is a fact! Rush Limbaugh and his racist rants has seen to that. They call him a racist, when in fact THEY are the racists themselves. People like you are the real disgrace. People like you are making this country look bad!

But…but…I thought tax cuts for the “job producers” would spur growth! Poor people don’t make jobs! Well, guess what? NEITHER DO THE RICH.

Guess twelve years of Bush’s tax cuts just didn’t do the job! Let’s not forget that they’re still in effect and Obama’s first term–hopefully last–is almost up.

Here’s the awesome part.

The dismal state of the economy is why they won’t hire workers. But because they won’t hire workers the economy is dismal. So until they do hire workers the economy will stay dismal. Which means they won’t hire workers ever again.
on September 21, 2011 at 8:23 am Political Humor from Slovenia « International Liberty

[...] of political humor, this cartoon is my most-viewed blog post of all time. Rate this: Share [...]
on October 1, 2011 at 8:54 am Happy Fiscal New Year (with an Unhappy Obama Hangover) « International Liberty

[...] if you’re wondering why America’s economy seems to have a hangover (this cartoon is a perfect illustration), it’s because politicians had a huge party with our money in [...]
on October 1, 2011 at 11:52 am » Happy Fiscal New Year (with an Unhappy Obama Hangover) - Big Government

[...] if you’re wondering why America’s economy seems to have a hangover (this cartoon is a perfect illustration), it’s because politicians had a huge party with our money in [...]
on October 1, 2011 at 3:43 pm ty

http://wh.gov/gkK
on October 1, 2011 at 11:36 pm The state of our economy under President Obama according to Cato Institute « HaltingArkansasLiberalswithTruth

[...] if you’re wondering why America’s economy seems to have a hangover (this cartoon is a perfect illustration), it’s because politicians had a huge party with our money in [...]
on October 2, 2011 at 11:08 am More Mockery of Politicians « International Liberty

[...] most popular blog posts, as measured by number of views, tend to be the ones involving political [...]
on October 27, 2011 at 12:35 pm Political Humor: Translating English to Republicanese « International Liberty

[...] like laughing at Republicans, here’s my favorite cartoon mocking leftist economics. And here’s a cartoon that must be funny since it is the most-viewed post in the history of this blog. GA_googleAddAttr("AdOpt", "1"); [...]
on November 16, 2011 at 2:47 pm The Cato Institute: The state of the economy under Obama « HaltingArkansasLiberalswithTruth

[...] if you’re wondering why America’s economy seems to have a hangover (this cartoon is a perfect illustration), it’s because politicians had a huge party with our money in [...]
on November 20, 2011 at 2:20 pm This Cartoon Does Show How Politicians Think « International Liberty

[...] is probably my favorite political cartoon, and this one is the most-viewed post in the history of this blog, but here’s one probably should be near the top because it so perfectly captures the mindset [...]
on January 10, 2012 at 4:35 pm Julie (@zershad)

Y’all angry ppl talking smack on young college grads makes this one wanna support Obama…ok, ok, just kidding, but for real, why are you generalizing so harshly and so bitterly? Shouldn’t you be trying to make allies?
on January 11, 2012 at 11:20 pm Great Cartoon (and my New Hampshire Predictions) | Sago

[...] two most-viewed-all-time posts on my blog are this cartoon and this [...]
on January 19, 2012 at 2:17 pm Good Cartoon about Organized Crime and Government « International Liberty

[...] readers have made this cartoon the most-viewed post in the history of this [...]

Comments RSS

	Dandapani (@Dandapan… on I Always Suspected Greek Burea…
	crisap444 on Is Mitt Romney a Keynesia…
	D jizzle on Brutal Video on Overpaid …
	librexavier on A Futile Economics Lesson for …
	The result of having… on My Big Fat Greek Budget

International Liberty

Restraining Government in America and Around the World

The Obama Economy and Self-Imposed Headwinds

41 Responses

Leave a Reply Cancel reply

Email Subscription

Recent Posts

Pages

Visitors (beginning December 23, 2010)

Tags

Archives

Recent Comments

Categories

Follow “International Liberty”

September 2011
M	T	W	T	F	S	S
« Aug				Oct »
			1	2	3	4
5	6	7	8	9	10	11
12	13	14	15	16	17	18
19	20	21	22	23	24	25
26	27	28	29	30

International Liberty

Restraining Government in America and Around the World

The Obama Economy and Self-Imposed Headwinds

Rate this:

Share this:

Like this:

41 Responses

Leave a Reply Cancel reply

Email Subscription

Recent Posts

Pages

Visitors (beginning December 23, 2010)

Tags

Archives

Recent Comments

Categories

Follow “International Liberty”