Tom Pittman's WebLog

2012 November 27 -- True Obamanomics

The article appeared in TIME magazine and (like everything else in TIME) is written by a left-wing bigot who still favors the failed and failing Obama economic model which the facts and figures disclosed in that same article clearly contradict. But if you can escape the political bias and just look at the facts, here you have some very rich guys who understand economics and the psychology of investors -- they called "equities a Ponzi scheme," which is basically what I said of the market five years ago -- and they voted for Obama, not for the reason given, but because they know he doesn't know anything about economics and they do know what Obama doesn't know, and they are making a profit from his foolishness. 93% of the "recovery" money is going to the top 1% rich folks, meaning these guys. They don't mind another 4% tax increase, because that's small potatoes compared to their skill at manipulating the "wealth redistribution" into their own pockets.

They argue on moral grounds for job retraining, which is well and good, but none of the players really understand that left-wing-bigot union teachers are not going to be encouraging the fabled "47%" to abandon their entitlement mentality and actually start working to create wealth. So long as people believe that government-mandated "wealth redistribution" is a source of personal wealth, they will continue to depend on the government handouts and not on their own efforts. Bill Gross and Mohamed El-Erian, the featured execs offering the sobering facts in this article, got rich by thinking hard about what makes things work, then working the system to their own benefit. The "47%" also work the system to their own benefit, but so long as it's "free money" (which redistribution essentially promises), they don't need to do anything to create wealth. Gross and El-Erian don't create wealth either, but at least they understand that somebody needs to, or there won't be any to redistribute. The economy gets better (a rising tide that lifts all boats) when wealth is created. Moving money around does not create anything, as this article reluctantly admits.

The solution, which you will never read in TIME or any other modern secularist media, is to teach hard-core Golden Rule ethics -- also known as Christianity; I call it "2C" -- which (among other things) encourages people to build wealth by enabling all parties to succeed at creating their own wealth. Unfortunately, this is not even understood by most Christians. If they did, Romney would not have been the Republican nominee (because Romney does not operate by 2C ethics), and Obama (who also does not espouse 2C ethics) would not have won.


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