Fearing Rhetoric Damages Economy

The Chameleon otherwise known as President Barack Obama has recently been compared to the likes of Franklin Delano Roosevelt, John F. Kennedy, Abraham Lincoln and Ronald Reagan. I think he is an empty suit, but many Americans think he already is the best President we have ever had.

I do find Obama excels at presenting a soaring rhetoric that many of our intellectually challenged electorate find quite compelling. The constant negative drumbeat of the current economic state of our country is one such example. Most Americans appreciate some honesty in this regard, but Obama is either engaging in a form of fear mongering or has a incorrect command of the facts. Please take a listen to an interview by FOX News Business Chief Neil Cavuto with Brad Schiller, professor at the University of Nevada-Reno:



The current economic climate in America is full of many very serious economic challenges, and the point here is not to downplay them. As a real estate professional, I am likely being impacted more than most Americans.

But as Professor Mark Perry of the University of Michigan-Flint points out of his top notch blog CARPE DIEM, the real story of the comparisons of today and The Great Depression are quite exaggerated. In fact, comparisons to the 1980's fall quite short. Take a view of one of Professor Perry's charts.

America elected an inexperienced individual strong in rhetoric and short in economic theory and the role those in official positions play in influencing the markets. For example, who will be making large investments (you are hopeful the housing crisis will correct are you not?) with the forecast being presented by our President is bleak, so bleak that it erroneously extends the facts to promote fear.

I think it is time for Obama to speak frankly with America or keep his mouth shut. Should he choose to speak frankly, a command of the facts rather than fear mongering to help gather support for the passage of politically infected "emergency" stimulus package would be welcomed.

Then again, by the cheering crowds at Obama's speech signing the package, I wonder if the majority of Americans care? Furthermore, I wonder if they have the intellectual fortitude to realize what they are cheering about? I am not cheering and you should not be either.

I am now thirsty, so I think I will go mix up some cherry Kool-Aid.