Obama administration corporate bailouts
The Obama administration corporate bailouts which occurred during the 2009 economic crises poured money into corrupt and inefficient corporate entities and decreased the efficiency and productivity of the American economy. The occurrence of the corporate bailouts by the Obama administration was not surprising given that Wall Street firms were among Barack Obama's biggest campaign supporters. Rather than investing in corrupt and inefficient businesses due to political considerations, given the relative greater efficiency and dynamism of capitalism, the Obama administration should have allowed capitalist forces to cause a more rapid and efficient allocation of economic resources. Allowing market forces to allocate resources instead of government bureaucrats to allocate economic resources due to political considerations would have caused the United States economy to recover more rapidly. A 2005 study found that government corporate bailouts are often done for mere political considerations and the economic resources allocated exhibit significantly worse economic performance than resources that are invested using purely business considerations.
Top trend forecaster Gerald Celente predicts that the corrupt economic policies of the Obama administration will lead to a second great depression that will be more severe than the great depression in the 1930s (Celente predicted the 1987 US stock market crash, the dot.com crash, the US 2008/2009 recession, and the collapse of the USSR in the early 1990s) and may lead to a "second American Revolution" (Celente predicted the tax protests that are now occurring in America). Celente also asserts that the costly and inefficient temporary short term methods that the Obama administration is using to alleviate economic problems in the short term (which are causing massive increases in the Obama administration's deficit spending) is only making matters worse and will not prevent the worse economic depression in United States history from occurring.
Barack Obama's corporate bailouts was a form of corporate welfare. Leading trend forecaster Gerald Celente labels Obama administration corporate bailouts as being "fascism light" in nature (Benito Mussolini defined fascism as the wedding of state and corporate powers).
- Creative destruction
- Obama administration fiscal policy
- Obama administration monetary policy