December 14, 2009
On ABC’s This Week over the weekend, bankster minion Larry Summers told his former coworker George Stephanopoulos there will be jobs come spring. Stephanopoulos pressed Summers on how much will be added to the federal debt in order to create jobs but the former economist for the globalist loan sharking operation at the World Bank did not provide an answer. He merely said Obama will “work with Congress” on a job creation proposal.
“I believe that, as do most professional forecasters, that by spring, employment growth will start to be turning positive,” said Summers.
Government does not create jobs. It is a wealth and job destruction machine. Obama’s job creation boondoggle is a political maneuver designed to placate the masses increasingly worried about high unemployment now over 20% and closing in on Great Depression levels.
Stephanopoulos threw around the figure of $100 billion dollars. This will be money borrowed from the bankers and added to the national debt. It may create a few temporary government jobs and make Obama look good — something he desperately needs now that his approval rating is around 45% — but ultimately it will impoverish a new generation of tax payers.
Only economic growth in the private sector can create employment opportunities.
“When government uses transferred wealth to hire people, it is essentially transferring jobs from the private sector, not adding to the net number of jobs in the economy,” Thomas Sowell writes today. “Destroying some jobs while creating other jobs does not get you very far, except politically. But politically is what matters to politicians, even if their policies needlessly prolong a recession or depression.”
Obama’s 2.5 million Jobs Program is a government jobs scheme. It is also a way for Congress critters to save their skins. A facade of recovery and jobs needs to be erected before the election coming up.
Instead of private sector jobs, employment will continue to be shipped to China, India, and other slave labor gulags ruled by totalitarian thugs.
“Facing the prospect of joining the army of the unemployed if unemployment stays high, politicians, or at least the liberal Democrats among them, want to develop direct job creation schemes of the sort that Franklin Roosevelt introduced during the Great Depression. Economists know that another deficit-increasing spending package is no long-run answer to sustainable recovery,” writes Irwin Stelzer.
[efoods]FDR’s so-called New Deal and its massive government job creation program did little to reduce unemployment during the Great Depression. Unemployment remained in double digits throughout FDR’s first two terms. It took a world war to turn things around.
Laurence Summers is a former Secretary of the Treasury where he was mentored by former Wall Street financier Robert Rubin and is a member of the Trilateral Commission. As a globalist and bankster minion and the point man on Obama’s National Economic Council he has worked tirelessly to destroy the economy and throw millions of Americans out of work.
Talk of jobs in the spring is another lame sucker punch designed to distract attention from the real story — the engineered economic destruction of the United States, the elimination of the middle class, and the takeover of financial institutions not currently under Federal Reserve and bankster control.
In the months ahead, more jobs will be destroyed in order to move the United States closer to the slave labor gulags established in China and India. Obama and his Wall Street handlers will tell you they are creating jobs and happy days are here again. It’s all a parlor trick. A few temporary shovel-leaning jobs will be created and touted as a recovery.
In order to usher in one-world feudalism, the middle class must be decimated. “The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole,” writes the late Carroll Quigley.
Larry Summer’s assigned task is not to create jobs. It’s destroying jobs and creating a world system of financial control in private hands. In order to accomplish the plan of his masters, you must be impoverished and enslaved.