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Obama’s Presidency: Probably The Worst In U.S. History – Dave Kranzler

Wednesday, May 18, 2016 13:43

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TND Guest Contributor: Dave Kranzler

I vividly recall stating to friends and colleagues in the summer of 2008 that W was the worst President in history. At that point I was welcoming the idea of Obama: a guy who seemed completely detached from Washington’s inside mafia and Wall Street’s never-arraigned felons. I was ecstatic over his promise to clean up the fraud and corruption that had been engulfing Wall Street and Capitol Hill over the past couple of Presidents.

About a year into his first term, I had Obama figured out. His campaign slogans were empty billows of mendacious smoke billowing from his mouth. He has not followed through on one plank in his campaign platform. The only people who can’t see it are his slavishly blind devotees, many of whom are afraid to say anything negative about a black man out of fear of being labelled a racist. It was brilliant exercise in psychology by the insiders who selected Obama over Hillary in 2008. At that point I told friends and colleagues that Obama will possibly go down as the worst President in history.

Part of the catalyst was the high expectations for which we were set up. He seemed like he really wanted to make a difference. A close friend argued with me the other day that it’s not Obama’s fault – that Congress has prevented Obama from fulfilling his promises. But that is thoroughly untrue. Obama has actively employed the act of Executive Order routinely and systematically to override Congress, as a threat to override Congress and as a device to circumvent the Constitution. This is the very same act of Executive Order he promised to eliminate from the Oval Office tool chest. Everyone remember him making that promise? Because I recall it distinctly

The author of Washington’s Blog wrote a must-read commentary which details why Obama’s Presidency has been a complete failure – possibly the greatest failed Presidency in history: “Bush was a horrible president. At the time, I thought he was the worst president in American history…”

…But Obama has made a lot of firsts himself:

Prosecuted fewer financial crimes than President Reagan, Clinton or either of the Bush presidents. (As bad as the Bush administration was, they at least prosecuted the heads of Enron, Worldcom and some other white collar crooks. In contrast, Obama hasn’t prosecuted even one high-level Wall Street executive.)
Is the most secretive president ever
Is more hostile to the press than any president in history
Claims the power to strip Americans’ liberty in a way that no other president has ever tried to claim … and that even King George of England didn’t claim. Indeed, Obama has rolled back some of our liberties to the time of the enactment of the Magna Carta in 1215.

That’s a partial list. I highly recommend reading the rest of the article: Washington’s Blog.

Now Obamacare, doomed from the beginning, is collapsing as big insurance companies successively drop out of the Obamacare network and the quality of healthcare in this country continues to deteriorate. I can’t wait to see what happens to retail sales when the next round of health insurance premiums hits the system shortly before the November election…

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About Dave Kranzler:

I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for Bankers Trust. I have an MBA from the University of Chicago, with a concentration in accounting and finance. My goal is to help people understand and analyze what is really going on in our financial system and economy. You can follow my work and contact me via my website Investment Research Dynamics. Occasionally, I publish on Seeking Alpha too. As a co-founder and principal of Golden Returns Capital, LLC Mr. Kranzler co-manages the Precious Metals Opportunity Fund, a metals and mining stock investment fund.