It IS the Economy, Stupid.

As I’ve had more time to ponder the election and wonder why people can’t remember history, I’ve had a few more thoughts. Hopefully I’ve found enough zen to write a cogent post today.

I had a conversation with another manager last month. We were talking about a certain decent employee who was freaking out about his pay at every opportunity. He was the highest paid person on staff. He talked about it so much it was hard not to hate his guts. But upon digging, we found that his wife was sick, they had medical bills they couldn’t pay, and his personal finances were more or less going down the toilet. He wasn’t really mad about his pay, he was frustrated with his circumstances and the steam just happened to be blowing off in the direction of me and the other manager.

The U.S. economy is toast. We can argue all day long about what’s wrong with it, but I’m going to save you some time. You are wrong about why you think it’s bad. Here is the reality:

1. Iraq. We are spending a lot of money on a stupid war. That’s Bush’s fault, and it’s also congress’ fault for not doing more to stop it.
2. Bill Clinton back in 1992 told banks that 42% of their mortgage loans had to go to “subprime” borrowers. The idea was that only rich honkies could afford homes, and banks were discriminating against minorities.
3. Alan Greenspan and the Fed turned on the cash spigot, then grabbed a bite, read the paper, and took the dogs for a walk before going back to check on it.

Yes, the banks WERE discriminating against minorities. But not for their race – for their ability to repay the loan. However, the government (by which I mean Democrats) had also set up Freddie and Fannie, so the banks thought “who the hell cares, the government will back it up anyhow.” Then some genius decided to put Barney Frank in charge of oversight on the banking industry.

I’m leaving out a lot of the details, but suffice to say about 80% of the blame for the economic meltdown was due to the policies of Bill Clinton and the oversight of Barney Frank. 10% goes to the Fed for being so silly and shortsighted, and the rest goes to Bush for Iraq.

However, people are stupid. People do not remember history. The old saying goes “Those who fail to remember history are doomed to repeat it.” That’s what happened Tuesday night.

Instead of looking at the actual facts and history of the mess we’re in, people assumed Bush was responsible for 100% of it. Whenever there is crisis, some silver-tongued devil will always come along and assure people everything’s going to be ok. That was Obama this time around.

No one paid attention to Obama’s actual plans, ALL of which have been done before, ALL of which resulted in economic meltdown and unemployment. I know you think I’m wrong. Obama’s ideas are new and fresh. It’s change we can believe in, and all that rot.

There’s no such thing as “trickle up” economics. No low-income person has EVER given anyone a job. So if you take money from the people who hire people and give it to people who barely work, you’ve created an incentive for the wealthier person to lay off someone.

But Incredipete, Obama says he’s going to give incentives to companies who hire American workers and he’s going to get rid of the tax cuts for the corporations! See Incredipete, you’re wrong!

Ah yes, I’m glad you brought that up. First, on getting rid of tax cuts for corporations – that’s identical to taxing rich people and giving the money to people who don’t create jobs. It’s a double hit, also, because corporations are made up of *OMG* AMERICAN PEOPLE. WTF?! Incredipete, are you saying that evil corporations are actually large groups of Americans all working together?!

Yeah. I am. So let’s pretend for a minute *snicker* that corporations DON’T lay people off to counteract the higher taxes. What’s their alternative? They have two. They can accept lower profits. But guess what that means? That means their shareholders (hint: AMERICAN PEOPLE) will make less money, or people’s retirement accounts take a hit. The other option is to raise their prices. That’s the option that will actually take place. And guess who that hurts? Umm. AMERICAN PEOPLE who have to buy stuff!


I swear, economics should be a required course for every student in America. The only reason it isn’t already is that people would stop voting for the candidate that supports teacher’s unions.

Speaking of that, Obama plans to make it easier for small business employees to unionize. Guess what that means? Small businesses will close their doors. It’s just not possible to comIncredipete if you have a union and your competitor doesn’t. Look at the three most effed up industries in the country: Auto Manufacturers, Airlines, and public education. All of them are unionized. Are you people paying attention?

Today I’ve read the front pages of all of the major news networks. Guess what the top story is? Stocks down 1,000 points in two days since election. But guess what they say the reason is: “on fears about the economy Obama will inherit.” Already, the media is giving the guy a free pass. They’ve already started the spin cycle so that when the economy gets worse under Obama not better, they will just blame the previous administration. The reality is, people on Wall Street are brilliant. They understand that if the capital gains tax for 2008 is 36% and in 2009 it will be 50%, they’d darn well better sell everything off in 2008. It’s just the way it works.

I hope that you people, loyal readers, are the type of people who really do study and find the substance that’s hidden under the liberal bias and “feel good” emotions from this election. You owe it to your children to understand that our country has been here before, and the path we’re about to go down is the wrong one.

  11 comments for “It IS the Economy, Stupid.

  1. November 6, 2008 at 4:51 pm

    Has anyone ever told you that you’re beautiful when you’re angry? . . . I didn’t have an intelligent comment, so I went for sexism.

  2. Incredipete
    November 6, 2008 at 5:19 pm

    Not angry at all. In a way, I can see the humor in watching foolish optimists have their hopes and dreams crushed. That’s cynicism, not anger. Frankly, I hope I’m dead wrong and Obama is the best thing since sliced bread. I have to live here too ya know. 😉

  3. HRT
    November 6, 2008 at 5:21 pm

    …and that’s the part that sucketh.

    I think this is the best way to explain the economy based upon this economic theory.

    To give tax cuts to the middle and lower classes is like giving a guy who has $10dollars twenty-five cents, then charging the guy who has $100 twenty-five dollars. The problem is that he used to employ the guy who had $10dollars. So now the $10-guy has no job, but at least he got .25 cents. Oh wait, that was based on him having an income. So now he’s going to have to spend his $10 on toilet paper.

    Did I get it right Sir-Incredipete-a-lot?

    (btw, in my diatribe on your previous post, I wasn’t saying that it was right, just that it is what it is)

  4. Incredipete
    November 6, 2008 at 5:28 pm

    Yup, that’s pretty much the gist of it. I’m gonna post something that got forwarded to me recently about the folly of redistribution.

  5. November 6, 2008 at 5:31 pm
  6. livieloo
    November 6, 2008 at 5:32 pm

    I love your post so far (I’ll have to finish it later because I have to go sit in my environmental science class and listen to all the bullshit about how humans are killing the earth)but I just thought you might get a kick out of some of these t-shirts. Check it out

  7. Meg
    November 6, 2008 at 5:36 pm

    Where I come from, economics IS a required class in order to graduate. If you’re in an AP program, 2 years is required at the college level. That doesn’t mean that even brainiacs like me enjoyed it enough to pay attention. So thanks for enlightening me.

    (I can’t wait until this is a little less new and shiney, and you start writing about how horrible things other than our govt. are again.)

  8. HRT
    November 6, 2008 at 5:55 pm

    Ok my question is this. WTF are Minnesotians thinking?!?! First they elect Jesse “the body” Ventura Govenor and now Al “I’m a freakin’ comedian” Franken is 7 votes away from being elected Senator? Are people in Minnesota daft, or seriously can they NOT find SOMEbody marginally more comIncredipetent than Al “I used to do the weekend update on SNL so I must be qualified to run for office” Franken???

    Am I the only one who finds this somewhere between obsurd and insane?

  9. livieloo
    November 7, 2008 at 11:44 am

    Incredipete, do you mind if I post this (giving you full credit of course) on facebook to piss off some more liberals? It would really make my day!

  10. Incredipete
    November 7, 2008 at 1:03 pm

    Go for it, Liv!

  11. BJD
    November 10, 2008 at 12:27 pm

    Brilliant summary, best I’ve seen. Nobody needs an economics class if they read your post.

    BTW, I think Minnesota must actually be Area 51 – the whole place.

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