Tuesday, June 14, 2011

Obama the Luddite

President Obama seems determined to prove that he knows absolutely nothing about economics, except the economic theories espoused by Marx (Karl, not Groucho). From Fox Nation:
President Obama explained to NBC News that the reason companies aren't hiring are not because of his policies, it's because the economy is so automated. ... "There are some structural issues with our economy where a lot of businesses have learned to become much more efficient with a lot fewer workers. You see it when you go to a bank and you use an ATM, you don't go to a bank teller, or you go to the airport and you're using a kiosk instead of checking in at the gate."
This is the same, sad Luddite opinion that prevailed in the days of Franklin Roosevelt and before and which has been wholly discredited by the booms of the 1960's, 1980's, and 1990's and the first half of the 2000's, all the while that we were becoming more and more automated.

It is no surprise that our president is an economic dunce.

The government is a cause of our serious unemployment problems, through excessive regulation and taxation. We need to eliminate most of the government agencies that now exist, and go back to the basics.

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