Reichstag Fire Socialism

I will surely be blogging more about how Obama's socialism is getting implemented on the backs of a concocted and exaggerated crisis. Yes, the recession we are entering will be a serious one. But, no, nothing the Obama team plans to enact will in any way alleviate or forestall this necessary economic adjustment.
The claims that this is worst crisis since the Great Depression is hogwash. The only risks for a comparacle scenario will play out if Government over-involvement is repeated as it was then.

Spengler calls them "One Trick Wizards". My cynicism is well intact with Spengler's reminder of how poorly Obama's 'brain trust' has figured things out:

Has Brooks checked the markets? The cleverest people in the United States, the Ivy-pedigreed investment bankers, have fouled their own nests as well as their own net worth, and persuaded the taxpayers to bail them out. If these are the best and the brightest of 2008, America is in very deep trouble.

The plans for $700 billion to make or save 2.5 million jobs? IBD says it doesn't add up:

If Obama just manages to hit the post-World War II average, there would be 3 million more jobs by 2011.

What's more, Obama's promise doesn't keep pace with projected growth in the labor force. The BLS projects that roughly 2.6 million new workers will enter the labor pool over the next two years.

If that's the case, Obama's plan would leave the unemployment rate slightly higher in 2011 than it is now. Moreover, Obama's stimulus plan could eventually total $700 billion, the Washington Post reports. So, as former Council of Economic Advisers chief Gregory Mankiw notes, each job Obama "creates" will cost $280,000.

There is a 'cargo cult science' mentality to all the funny games they will play to justify the Government's wasteful and pointless spending of money it doesn't have, to fund programs that don't work, to show progress that would be greater if only Government got out of the way.