The socialist policies and stimulus spending programs of Barack Obama and the Democratic party have conservatives, entrepreneurs and others like retired New Smyrna Beach businessman John Mullennex, throwing up their hands and saying, "This is the first time in my life that I am afraid for my government.”
Mullennex's concerns are echoed by many, if not most conservatives, who see the present actions of President Obama and the present Democratic party as a major threat to our freedom, prosperity and way of life.
The cause of this unrest include the massive new spending, the take over of banks and car companies, threats of higher taxes, a carbon tax, implied threats to free speech, extension of union power, a coming attempt to force universal health care on us, threats to introduce more regulation, ignoring the constitution and the list goes on and on.
Our relatively new elected president appears to have an open hostility toward capitalism, free markets, property ownership, personal freedom, limited constitutional government and just about anything that makes this country great such as prosperity. His comments on redistribution of wealth had a particular chilling effect on most thinking people.
During the election many conservatives held out the hope that the Marxist tendencies they detected were simply put on to appease the radical left wing of the Democratic party. They hoped that, if elected, Obama would take a more centrist approach. So far this hope appears to be completely unjustified.
He appears to be moving toward socialism as fast as possible. No one in Congress was given any realistic opportunity to read the “stimulus bill.” Other socialistic legislation is being moved as quickly as possible so no one will have an opportunity to debate or oppose it. And that has conservatives are genuinely concerned.
In response to all of these actions by our government, investors are taking their money and attempting to “hide it” in various ways. Some are putting it into municipal bonds or “munis” some are investing in companies based in foreign countries, some are converting to gold in various forms, and in general, people are putting money in places they think the government is least able to take it from them in various ways.
Businessmen are putting their expansion plans on hold or even moving their businesses off shore if possible. They are also accelerating cost-cutting measures in anticipation of what the government might do.
All of this could easily translate into a long and hard recession with possibly double digit unemployment. If the government had done nothing the country’s economy would have recovered in two to three years.
With all of these government measures being taken the recession could go on indefinitely. By repeating many of the mistakes of Hoover and Roosevelt, Obama and the Democrats could keep the recession going for five to 15 years.
One slim hope is that maybe some thinking Democrats will see the dangers and team up with the thinking Republicans to block some of this insanity.
Note that none of this tragedy has to happen. If we were to go on the correct course of low taxes, few regulations, sound money , free flowing foreign trade and legal protection of property rights the economy would right itself very quickly. However, as things now stand Obama and the Democrats are going as fast as they can in the wrong direction.
Americans will have to hold on for a rough ride till the government decides to shift to more rational policies.