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The Bush-Obama Depression Continues

by Jeff Davis

This week’s Ongoing Decline of America story comes from CNBC: “The combination of rising gasoline prices and the steepest increase in the cost of food in a generation is threatening to push the US economy into a recession, according to Craig Johnson, president of Customer Growth Partners.”

How can an economy that is already in a full-blown depression with 20 percent real unemployment be “pushed into a recession”? Or is that too esoteric to get into right now?

Back to CNBC: “Johnson looks at the percentage of income consumers are spending on gasoline and food as a way of gauging how consumers will fare when energy prices spike. With gas prices now standing at about $3.90 a gallon, (it is well over $4.00 now, since this article was written) energy costs have now passed 6 percent of spending—a level that Johnson says is a ‘tipping point’ for consumers.”

Back to CNBC: “Of the six US recessions since 1970, all but the 9-11 year 2001 recession have been linked to—if not triggered by—energy prices that crossed the 6 percent of personal consumption expenditures … What may make matters worse this time around, is there has been a steep increase in food prices that occurred as well. In other recent recessions food costs were benign, at between 7.5 percent and 7.8 percent of spending. This year food prices have climbed 6.5 percent since the beginning of early January, according to Consumer Growth Partners.”

The food price increase is due in part to a number of bad harvests, not to mention a sharp increase in the price of diesel fuel which raises the price of everything that has to travel on a truck to the grocery store.

Gas prices are going up for two reasons: A) Obama’s refusal to drill for oil in this country including his ban on oil rigs in the Gulf of Mexico or drilling for the huge oil supply in ANWR in Alaska and 2).The US interference with Libya, which is no doubt disrupting its oil shipments. Therefore high oil prices are largely the fault of Barack Hussein Obama and his general incompetence.

Although I hate like hell to imply that Republicans might actually be a better alternative, having not lost my memory of eight years of George W. Bush and his neocon wars, I have to say that Republicans can at least keep the damned oil flowing.

The grain shortage appears to be due to weird weather for the past couple of years that has hit worldwide grain production, but petroleum-based energy is used to harvest and process that grain into flour and pasta and bread and whatnot, so Obama’s incompetence has a lot to do with that as well.

The Jewish media seems to be leaning toward yet another liberal Republican, who won’t do a darn thing about illegal aliens.

What we really need is someone like Ron Paul who puts the interests of America first. Even Donald Trump would make more sense. I think we could trust Trump to resume oil rig operations in the Gulf of Mexico and finally start drilling for oil in ANWR. What we don’t need is four more years of Obama or a liberal Republican.

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