THE OBAMA ECONOMY – FOR WEEKS IT’S BEEN JULIE ANDREWS….IS IT NOW GOING EDWARD G ROBINSON?

“U.S. companies, consumers and communities may grow so addicted to government financial help that cutting them off could trigger another recession soon after the current one ends.
Between the U.S. Federal Reserve's trillions of dollars in lending programs, the $787 billion stimulus package and $700 billion -- and counting -- in bank bailout funds, no one can accuse officials of soft-pedaling their crisis response.
But there is increasing concern that when the flow of public money subsides -- beginning next year when much of that stimulus package is spent -- the economy still won't be strong enough to stand on its own.”

mmmmmmmmmmmm………..if Reuters are saying this it could be the first crack in the Styrofoam temple. The story was that all that was needed was a few trillion here, another trillion there and hey presto by the middle of 2010 the glory days would be back, folk would be borrowing to buy houses, cars, holidays and hamburgers and everyone would be back in work and earning so much they wouldn’t notice the tax increases needed to bail out the bailouts – but if nobody’s spending then hopenchange will be looking a little careworn….but then the Chicago Gang can always blame it on W….except, as the WSJ points out

“As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem.
Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth.”

Now Pelosi/Reid and the MSM are still gambolling on the sunlit uplands of Obamaland, promising everyone that it’s all Julie Andrews now that W has slunk back to his ranch but the stock market is where people have to put their money where their mouth is and in that real world it’s looking a little more Edward G Robinson – which is why Governor Palin’s housewifely approach seems increasingly sensible…

“Sarah took a wise and reasoned approach to the stimulus bill, taking only money for infrastructure projects and eschewing funds that came with strings attached -- those being mandates that the state would be left to fund. She did not use this bill as an opportunity to grandstand, nor did she capitulate and try to milk everything out of the bill and then some.
Sarah's Budget Director delineated how non-state entities were to apply for funds through competitive grant processes. Since these funds do not go the state, they do not result in future unfunded mandates.”
(Hat tip http://sarahs-accomplishments.blogspot.com/)

Now the big question – if you were making your will and you needed to appoint someone to manage a trust fund for your kids, who would you choose – Sarah Palin or Barney Frank…….now, take some time to consider