Stagflation, the worst of both worlds (anemic economic growth and high inflation) brings back less than fond memories of the 1970's, along with the misery index, which is calculated adding the inflation rate to the unemployment rate. Until the 1960's, Keynesian economists had thought that those two economic events couldn't happen at the same time. Image Credit: Copyright Free via myfreedompost.com
Welcome home to the era of Jimmy Carter as experienced here in Los Angeles and the rest of the nation. Half of our population never lived through the era and presidency of Jimmy Carter - where inflation and recession existed side-by-side which, in economic theory anyway, is not supposed to happen on the "Bell Curve". Where long lines of 30 or more cars formed around the street corners of gas stations and the ODD, EVEN gas rationing plan in Los Angeles was implemented because our supplies at the pump were allowed to become constrained.
Today, the unemployment numbers were just released and we are looking at a second summer where a double dip recession is a real possibility. A 9.1% unemployment rate was just announced for this last month (May 2011) and we know that this number will be adjusted upward as virtually all numbers released during this 44th Presidency have been manipulated to the media. Meanwhile, fuel prices fluctuate, policies get implemented without warning, and this Executive Branch leads with a high level uncertainty that promotes a sense of instability further antagonizing the fragility of our economic environment.
The Obama Administration, Democrat, and Republican ruling class leadership continue tell anyone that is in earshot that our best days are behind us and ask that we sacrifice any income to devote toward additional taxation. All the while, trillion dollar spending appropriations are passed, and (100-billions of dollars) takeovers of large segments of our corporate manufacturing marketplace are made, kicking investors to the back of the line on the recognition of their ownership stake (possibly against American business law statutes) and turning these enterprises over to a shared control with employee unions ... who give dues money back to these politicians to finance their re-election campaigns.
This week in New Hampshire, Mitt Romney announced his candidacy to become the 45th President of the United States and unseat this current regime. We, at Carter's Second Term, would become excited but one has to ask ... where has Mitt been over these last two and a half years, to lead the push back, when we all have had to endure leadership without debate, transparency, capitalism, and an attitude of service to the freedom-loving people who are the nation (not the ruling class that think the Government exists to serve them).
Mitt Romney announces he is running for president, Thursday, June 2, 2011, during a campaign event at Bittersweet Farm in Stratham, N.H.. Image Credit: FNC
This excerpted and edited from 4president.org -
Mitt Romney 2012 Presidential Campaign Announcement Speech
June 2, 2011, Stratham, New Hampshire, Remarks As Prepared For Delivery #mitt2012
Thank you for coming. And I want to thank Doug and Stella Scamman for hosting us on their beautiful farm.
You know, everyone here today can tell a different story. We have different backgrounds and we wake up in the morning and go to different jobs … or, look for different jobs. We go to different churches or maybe don't go to church so much. I bet some of you have families who go back 200 years or more in New Hampshire. And there must be some who just snuck in across the border, from Massachusetts. I hear the taxes are better over here.
But here we are on a beautiful June day coming together to begin a process that we often, quite naturally, take for granted. But it is really one of the great achievements in the history of the world. For all of our country’s wealth and influence, those are not the source of our greatness. The true strength of America is self-rule, and a government that answers to a free and independent people.
We live in the most powerful nation that ever existed. And it all goes back to a few men and women who had the courage to stand - and even die - for their belief in liberty and equality. Because of their vision, the United States of America is not ruled by a monarchy or controlled by an aristocracy. Though sometimes folks in Washington might act otherwise, we don't have a House of Lords with inherited power. And as the Red Sox like to remind the New York Yankees, there are no dynasties in America.
Who rules this great nation?
You do. Every four years you decide who will give that State of the Union address, who will set the course of the country, who will be Commander in Chief.
A few years ago, Americans did something that was, actually, very much the sort of thing Americans like to do: We gave someone new a chance to lead; someone we hadn't known for very long, who didn't have much of a record but promised to lead us to a better place.
At the time, we didn't know what sort of a President he would make. It was a moment of crisis for our economy, and when Barack Obama came to office, we wished him well and hoped for the best.
Now, in the third year of his four-year term, we have more than promises and slogans to go by.
Barack Obama has failed America.
When he took office, the economy was in recession. He made it worse. And he made it last longer.
Three years later, over 16 million Americans are out of work or have just quit looking. Millions more are underemployed.
Three years later, unemployment is still above 8%, a figure he said his stimulus would keep from happening.
Three years later, foreclosures are still at record levels.
Three years later the prices of homes continue to fall.
Three years later, our national debt has grown nearly as large as our entire economy.
Families are buried under higher prices for food and higher prices for gasoline.
It breaks my heart to see what’s happening in this country.
These failing hopes make up President Obama’s own misery index. It’s never been higher. And what’s his answer? He says this: “I’m just getting started.”
President Obama sees a different America and has taken us in a different direction.
A few months into office, he travelled around the globe to apologize for America.
At a time of historic change and great opportunity in the Arab world, he is hesitant and uncertain. He hesitated to speak out for the dissidents in Iran, but his Administration boasts that he is “leading from behind” in Libya.
He speaks with firmness and clarity, however, when it comes to Israel. He seems firmly and clearly determined to undermine our longtime friend and ally. He’s treating Israel the same way so many European countries have: with suspicion, distrust and an assumption that Israel is at fault.
With the economy in crisis, his answer is to borrow money we can't afford and throw it at Washington bureaucrats and politicians. Just like Europe.
Instead of encouraging entrepreneurs and employers, he raises their taxes, piles on record-breaking mounds of regulation and bureaucracy and gives more power to union bosses.
Instead of recognizing the states rightful authority to solve problems, he seizes power from them and rams through a disastrous national health care plan.
This President's first answer to every problem is to take power from you, your local government and your state so that so-called “experts" in Washington can make those choices for you. And with each of these decisions, we lose more of our freedom.
President Obama’s European answers are not the right solution to America’s challenges.
In the campaign to come, the American ideals of economic freedom and opportunity need a clear and unapologetic defense, and I intend to make it—because I have lived it.
Government under President Obama has grown to consume almost 40% of our economy. We are only inches away from ceasing to be a free market economy. I will cap federal spending at 20% or less of the GDP and finally, finally balance the budget.
I will insist that Washington learns to respect the Constitution, including the 10th Amendment. We will return responsibility and authority to the states for dozens of government programs – and that begins with a complete repeal of Obamacare.
From my first day in office my number one job will be to see that America once again is number one in job creation. You know, if you want to create jobs, it helps to have had a job. I will make business taxes competitive with other nations, modernize regulations and bureaucracy and finally promote America’s trade interests. It’s time for a president who cares more about America’s workers than he does about America’s union bosses.
The spirit of enterprise, innovation, pioneering and can-do propelled our standard of living and economy past every other nation on earth.
I refuse to believe that America is just another place on the map with a flag. We stand for freedom and opportunity and hope.
These last two years have not been the best of times. But while we’ve lost a couple of years, we have not lost our way. The principles that made us a great nation and leader of the world have not lost their meaning. They never will.
We know we can bring this country back.
I'm Mitt Romney. I believe in America.
And I'm running for President of the United States.
The speech reads pretty good, and if one were to judge a candidate on a speech ... one would be doing themselves a disservice.
There are three problems with Mitt Romney as a decent protector of what is good about American Freedom.
First off, he is on record supporting Ethanol subsidies to farmers ... THIS is not a smaller Government perspective.
Secondly, he has not, or will not disavow his mistake in promoting Romney Care. Sure, he says that this is an issue for State Governments to decide, but again, tackling from a public sector stance is also not a smaller Government perspective.
The final and third point came today in the town hall meeting in New Hampshire when he made a statement in support of the concept that Earth climate change is a product of Human activity - "I believe the world is getting warmer, and I believe that humans have contributed to that. /// And so I think it’s important for us to reduce our emissions of pollutants and greenhouse gases that may well be significant contributors to the climate change and the global warming that you’re seeing," said Mitt Romney at a New Hampshire town hall meeting, according to Reuters.
The history of mathematical fraud is clear and it all came to light around November 2009 when internal emails were exposed "Wikileaks" style and proved that the "Hockeystick" effect - that had been published and re-affirmed in subsequent studies tying human activity to Global Warming - by the University of East Anglia located in England was trumped up in order to get more funding grants from the United Nations and other invested resources.
So, lets say Romney replaces Obama who is in current control of a radicalized EPA which is in the process of implementing "Cap & Trade" style policies. Will Romney feel inclined to shut it down? The easy answer is NO - Mitt Romney is in favor of Government helping to control/regulate carbon emissions.
One last Carbon understanding - of all greenhouse gases that exist, Carbon Dioxide is one of the least abundant at 40 parts in 10,000 parts. To bring this fact into clear thinking, imagine a basketball stadium has 10,000 seats, each filled with a greenhouse gas particle - how many of these seats of greenhouse gas would be filled with CO2 (plant food) particles? - Answer, only 40.
Three strikes ... and Mitt Romney is out - and sitting in the bleachers with Newt Gingrich ... here, during Carter's Second Term .
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