Obamanomics approaches the brink of disaster.
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• Gold reached its highest price in six months Tuesday, and silver hit a 13-month high. Oil prices also spiked more than 4 percent, and the dollar hit a new low for the year against the euro.
• A Federal Reserve report Tuesday showed consumers cutting back on credit, widely interpreted as a sign of weakening consumer demand.
Such gloomy evidence hardly testifies to the “transformative” power that Joe Biden attributed to the stimulus. But there can be no doubt the administration has succeeded in “changing the conversation.” With so many troubling omens, some analysts are now predicting a “W-shaped” recovery — a so-called “double-dip” recession with another significant downturn before the economy bottoms out and begins a genuine recovery.
Those who put little faith in Biden’s economic acumen are watching for the second dip of that “W,” perhaps as painful as last fall’s collapse that led Democrats to enact the $787 billion stimulus. However severe the financial damage of another downturn, one certain effect can be easily predicted — the final bankruptcy of Obama’s economic credibility.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?