The purpose of Obamanomics.

If you have not noticed yet, Obama is rerunning the Roosevelt years. The Roosevelt years began with converting market excesses into an excuse to impose Socialism. In 1929, rampant speculation in the Stock Market was allowed to drive prices to unreasonable levels. The speculation was fueled by very lax margin requirements. The economic depression that followed the Stock Market crash was then made permanent by imposing the 'mark to market' accounting system that froze the money in the banks. Roosevelt and his cronies used this to institute all sorts of economic controls by the government like the devaluation of the dollar. The failure of the Roosevelt policies was blamed on President Hoover. In fact, the economy did not recover untill 'mark to market' was repealed by Roosevelt around the start of WWII.

Fast forward now to 2008. An unknown Junior Senator from Illinois was nominated by the Democrats as their standard bearer. Wild speculation in the real estate market was used to again impose the 'mark to market' accounting system to freeze the money in the banks. The economy froze instantly. Obama was elected to get us out of our economic troubles.

Just as Roosevelt had no intention of restoring America's economic wellbeing, Obama has no intention of restoring economic prosperity. Quite the contrary. Maintaining 'mark to market' continues to tie up the banks. That in turn makes America's big companies near bankrupt, Obama has already expropriated General Motors, Chrysler and part of the banking and mortgage industry and he said that the government has the right (since when?) to take over any other failing enterprise. The Socialists plan to take over health care and the energy industry. Their goal is to control about half of America's economy directly. They intend to set prices and wages. Part of their goal is already achieved: tax payments had dropped by nearly a third so higher taxes will be necessary.