Obama won. Americans lost. Oh well.
I wanted Romney to win, not for Romney, but for me. -for we. We all do well when they do well. Economics is pretty simple.
This isn't the end. Mark Steyn has it wrong. A negative "hockey stick" is just as improbable as the positive ones. We never hit the asymptote. That is we fly right past where its supposed to be. Time is the x axis and time never stops. So if the area behind the asymptote is undefined then we know that infinite exponential curves plotted along a time axis, positive or negative, will always be wrong. Always. Another variable always intrudes on our simple little graphs to change the outcome. The curves either plateau or they crash.
Obama will not be the end. Obama will be their Pierre Trudeau. An icon of an age and then everyone will agree he was wrong on most everything.
Obama put ~$1,000,000,000,000 on the American credit card in the first term. There is only one direction that number will go. He is raising taxes across the board with Obamacare and still plans to tax job creators. He stepped in to cancel the Keystone XL pipeline twice for political reasons that seem to have paid off. All the while the economy suffers.
This might sound like partisan campaigning but I'm sorry the problems above are not going away. These are real problems caused by Obama. Binders, Bain Capital and Big Bird, those are going away forever because they were never there. Smoke and mirrors.
Socialism ends in misery my fellow Humans.
Europe is in tatters. The Middle East is burning (still). China is building ghost cities with slaves. The United States is blind and stupid. I just can't see how any of this will be resolved painlessly.
The affirmative action presidency is just not up to the job. I think what Americans really wanted was a mascot when they picked Obama. Oh well. What else can I say? Some kids don't learn until they get punched in the face.
The invisible hand of markets is going to be a fist next time around.
I think the world economy is hooped. America's credit card is maxed out. They are incapable of slowing down their spending rate, nevermind staying below the "Fiscal Cliff" credit limit. Then they print money, thereby increasing the need to borrow even more because that money doesn't buy what it used to. Then you have government spending on pet projects that creates false demand that raises prices for real profitable private businesses. Don't forget the borrowing for the spending and interest on borrowing that all has to be paid with taxes someday.
This is a flushing toilet bowl. It doesn't take a genius to figure out this is a recipe for negative growth.
The only way to overcome this is with a booming private economy that grows so much it pays these extra costs without blinking. Do you see that happening? What kind of an economy can make a trillion borrowed dollars feel like nothing? Not this one. No sir. This is an artificial economy propped up by deficit spending and low interest rates. You want unsustainable? Look at current fiscal policy around the world.
Oh well. I still have my xbox.
I hope I'm wrong about it all. I'll tell you this though: I will be contributing as little as possible to this economy. I've set myself up to cruise to my destination with fuel to spare. I can afford to lose some altitude and climb back later. I've built that into my flight plan on account of the massive obstacles ahead. I encourage you to think about your flight plan and watch out for mount Obama.