CR GREATEST HITS©
(NEWS proof) World events are being dominated by the outbreak of the swine flu. Although it’s being called a possible pandemic you are not seeing, nor will you see a huge amount of cases being reported and not a lot of deaths. The news is being consumed with fear and panic about a possible pandemic when thousands of people die every week around the world from just the regular flu. At least a hundred people a day die in the U.S. from regular flu and this is not called a pandemic.
One thing that this possible pandemic story does is distract people away from the terrible news about the economy. If a serious health concern is happening, then people may become distracted for the moment from how bad the economy is worldwide. You will hear in the news that this possible pandemic is now under control and many people diagnosed with swine flu actually had regular flu. Once again fear controls the masses. President Obama has another event that affects the world on his hands in the form of U.S. bankruptcies. The bankruptcies of Chrysler and possibly General Motors and other companies in their supply chains will be big news over the coming weeks. On top of this, he had to postpone the results of the stress tests on the financial institutions. Maybe bankruptcies, swine flu and failing banks was too much to lay on the public all at once. Meanwhile, on the European front,
President Obama is discovering that many countries who were not cooperative with his predecessor are not any more cooperative with him. As a politician, you can campaign on lofty desires about what you will do once elected. However once elected, you discover that what you wanted to do and what you are allowed to do are different. Many politicians feel that once elected, everyone will just jump on their train and the world will become a better place. Political posturing and influence peddling doesn’t stop just because a new person gets elected. President Obama has his hands full, not only with the continuing political posturing on many important issues facing him but also having Europe being uncooperative with what he would like certain countries to do. He is not and will not see cooperation from Germany and France on many things. Another front that President Obama will have to face is the increasing influence of the Taliban fighters in both Pakistan and Afghanistan. Besides a resurgence of control outside of the capital of Afghanistan, Taliban radicals are gaining popularity and support against the government of Pakistan. The armies of several nations will be brought into Pakistan to support their government and protect their nuclear arsenal. President Obama’s challenge for world events must be focused on fixing immediate problems at home before attempting to fix many of the same problems in other countries. World events may just be the area that overwhelms the new president first.
QUESTION: What benefit does the government gain by distracting the people for 2 or 3 weeks or so with a possible pandemic flu health issue?
ANSWER: The possibility of a pandemic of any kind allows the government to step in and show the people how responsive they are and that the people can have faith that the government is there to save them. The government hasn’t been able to save them from the financial crisis, unemployment or bankruptcies. They have to do something to reinstill faith in the government.
QUESTION: Is this pattern of gridlock that President Obama is experiencing both domestically and internationally going to continue to bring down the economies worldwide?
ANSWER: President Obama is going to experience much gridlock in everything he does. Although he won the election in the Electoral College by a good margin, he only won the popular vote by a very small margin. This is exactly what we predicted last October before the election…that it would be very close. The political posturing of the Senate and the political posturing of other countries will continue to get in President Obama’s way and discourage him because change is not happening like he envisioned, nor is it happening as quickly as it needs to.
QUESTION: What will be the consequences of this?
ANSWER: The consequences of this will be an extended recession around the world with things taking much longer than thought to recover in all areas. The continued weakening of the economies around the world will lead to more unemployment and companies going into bankruptcy. It will be many years before the political posturing has to stop and leaders realize that it got them nowhere.
QUESTION: Will the American people be taking on the full blow of the legacy costs of these bankrupt automobile companies?
ANSWER: The government, supported by taxpayers will be responsible for pension plans and some companies will not only go bankrupt but cease to exist. The domino effect will be worse as many suppliers will also go bankrupt or out of business and more than half of the American car dealerships will close. This will just add to the ranks of the unemployed and in a way, the government will now be supporting these people.
QUESTION: How much more can the taxpayer take on?
ANSWER: The burden financially that the U.S. will take on will take 2 generations to pay off and correct.
QUESTION: What about the banking stress test?
ANSWER: The results of the stress tests will show that more than half of the financial institutions need billions more in cash to survive.
QUESTION: You said that world events may be what overwhelms President Obama first, explain?
ANSWER: As soon as president Obama gets focused on one world event, he will get blindsided by another unexpected event somewhere else in the world. It will be this never-ending parade of problems and challenges that keep him unfocused and ineffective.