President Barack Obama’s director of the National Economic Council, Larry Summers, spoke at the Council on Foreign Relations on June 12. At the time of this writing, a video and a transcript were both available at the CFR website. The stated purpose was to present his “Reflections on Economic Policy in Time of Crisis,” but the theme seemed to be saving the free market from having too much freedom. He even credited socialist economist John Maynard Keynes with the “great insight” that the free market will supposedly fail to achieve a natural balance between supply and demand “two or three times a century, perhaps a little more.”

By some estimates, the U.S. has lost 6 million jobs during the current economic recession began in December 2007. Now, President Obama is planning to tap into the $787-billion stimulus package to create what his administration believes will be 600,000 new job

dollarsWill the Obama spend-a-rama finish off the dollar as the world's reserve currency? It well may, and sooner than most people think. Any day now we may wake up to headlines announcing that the International Monetary Fund's SDR (Special Drawing Rights) is being adopted as the new global currency.

OperationPresident Barack Obama, speaking from the White House's State Dining Room on May 11, hailed the healthcare industry's promise to cut $2 trillion in costs over 10 years as "a watershed event." The president hosted a meeting attended by health insurance, medical device, pharmaceutical, and hospital CEOs, three physicians (all officers of the American Medical Association), representatives of the Service Employees International Union, and administration officials.

UnemploymentYou know the economy is in the tank when officials hail the loss of 539,000 non-farm jobs in the U.S. economy during the month of April as good news. President Barack Obama termed the latest unemployment figures "somewhat encouraging," despite the fact that unemployment rose from 8.5 to 8.9 percent nationally. Obama was somewhat encouraged in part because most economists had expected April job losses to be higher than 600,000, as had happened in each of the first three months of 2009.