As can be seen, 2011 is a recovery from the torrid rate of bank failures in 2010. But 2011 is just as bad as 2009. So this Little Depression is nowhere near an end. Because Obama decided to fake a stimulus (mostly tax breaks, some money for state governments, etc. rather than a WPA to put people back to work), this economic calamity will drag on for a decade slowly, slowly recovering.
Obama made a horrible mistake. When FDR realized he had made a mistake, he admitted it, and changed course. Obama is the kind of guy who refuses to admit to any errors. He still claims his stimulus was "just right" when in fact it was woefully short of what was needed. Obama knows no economics so he has followed his "gut instincts" and worried about deficits and debt rather than listen to the mainstream economists who have kept saying "spend during a recession in order to provide the missing demand while the private economy heals its credit position".
A real leader knows when to admit mistakes and change course. Obama is no real leader. He is a smart dude. He is a clever politicians. He has a golden voice and a cool demeanor. But he fails the acid test of leadership. The US needed a great leader in this time of woe and they got a golden-tongued mediocre leader in Obama.
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