Streetwise Professor

August 18, 2011

Take As Long As You Like

Filed under: Economics,Politics — The Professor @ 7:34 pm

Obama’s bus tour produced this gem:

The best worst part is at about the 2 minute mark, where Obama says: “if we don’t think there’s more benefit than cost to it we’re not going to do it.”

It’s appropriate that Obama made this remark after visiting a livestock judging, because it is just so much bullsh*t.

(That’s a heifer not a bull, btw.)

Why do I call bull? Because this administration has been cavalier, at best, in its use of cost-benefit analysis. This is definitely the case for the financial administrators, notably the CFTC and the SEC. A court just overturned the SEC’s proxy rule for the inadequacy of its cost-benefit analysis. Many in Congress and even some CFTC commissioners have been extremely critical of the agency’s superficial cost-benefit analyses of Frank-n-Dodd rules.

And as for the agency that spurred the question by the farmer that Obama was responding to–the EPA–if truth in advertising laws applied to the government, its “cost-benefit” analysis would actually have to be called “making sh*t up.”

And Obama’s condescending reply to the farmer begging him to get the EPA off his back wasn’t the only gem of his Made in Canada Bust–I mean Bus–Tour-. This guy who never even ran a popsicle stand told the automobile companies that they have everything all wrong:

“You can’t just make money on SUVs and trucks,” Obama said during a town hall forum in Cannon Falls, Minn. “There is a place for SUVs and trucks, but as gas prices keep on going up [thanks in part to you, fella], you have got to understand the market. People are going to try to save money.”

You have to understand the market. No. He really said that. The Great And Powerful Bam who has never worked in the market and who has given zero, zip, nada evidence that he actually understands how markets work is giving advice on how to market cars.

This from the guy who is flogging electric cars. Like the Chevy Dolt–I mean Volt–July sales: 125. Yes. 1-2-5 decimal point zero.

Yeah. Definitely a car guy.

From the bus tour, Obama is heading for Martha’s Vineyard to hang with the swells. He’s being criticized for taking a vacation in these trying economic times. But not by me. Take as long as you like, man. Then stay longer. In fact, take the Ramones’ advice:

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1 Comment »

  1. Actually, I was going to give the opposite advice. I say keep him touring America and doing those speeches. He only makes himself look like a bigger fool every time he opens his mouth.

    Comment by Howard Roark — August 19, 2011 @ 8:14 am

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