The author critically examines the preemptive days of Barrack Obama before he assumes the Presidency. He held out lots of promises that gave him the opportunity to become President of United States. But the chaos that has set in has already made his life miserable. He is unable to force any change by recruiting only trusted old guards from erstwhile Clinton Administration. His choices of people, his priorities, and his views on economy and resolution of economic crisis are so poor that he is promising to be yet another “mediocre” to rule the United States. The nation is on the verge of breaking apart, the Author claims, and it is possible the fate of USA will imitate that of USSR, and in that case, Obama will perhaps be the last ruling president of a beautiful nation once upon a time called United States of America. Read further….
The author examines the role of the FED, Treasury, Senate and the President in denying paltry $34 billions of loan package to US Automakers, viz. GM, Ford and Chrysler and save 3 Million jobs while liberally giving $410 billions in loans and guarantees to Citigroup who fired 75,000 employees. Is FED creating unemployment? It would cost otherwise $200 billions by not helping the Automaker due to massive rise in unemployment allowance by $200 Billions combined with lost taxes. Is it real stupidity or does it point to corruption in high places. FED distributed over $ 2trillion dollars in last 2 months in non transparent operation. Something is wrong somewhere.