Obamanomics and " The German Miracle"

I stumbled upon an excellent article written in the Washington Times by Dr. Milton R. Wolf titled, "German Miracle that Obama Doesn't see.  (To read article in its entirety click here.)  Here are some key excerpts from the article:
The devastation caused by Obamanomics is now undeniable. According to Investors Business Daily, 2 million net private-sector jobs have been lost; unemployment has increased by 1.5 percentage points; long-term unemployment is the worst ever on record; the dollar is 12 percent weaker; the number of Americans on food stamps has increased by 37 percent; the Misery Index (unemployment plus inflation) has increased by 62 percent; and the national debt has exploded by an alarming 40 percent. Mr. Obama is saddling America with more job-killing debt than all the first 43 presidents - combined.

The article speaks about how Germany's economy after World War II almost collapsed before it had even rebuilt itself.  The main reason's for this were that the New Social Democratic Party adopted the same top down economic approach as the Nazi's did.  To make matters even worse John Kenneth Galbraith the American price czar instituted Keynesian economic policies that further paralyzed the fledgling economy as Wolf writes,

The real lessons from the Germans, however, comes not from the 21st century, but from the 20th. In the aftermath of World War II, a defeated and devastated Germany was under American occupation, controlled by Keynesian economists including the American price-control czar himself, John Kenneth Galbraith. The American overseers, as well as Germany’s new Social Democratic Party, favored maintaining the Nazi’s top-down, government-directed economy with its price and wage controls and restrictive regulations, which, unsurprisingly, created economic stagnation and crippling shortages of basic goods.

Germany was almost on the breaking point when economist Ludwig Erhard singlehandedly rescued its economy.  On June 20, 1948 Erhard abolished the restrictive governmental regulations and solidified the German currency by creating the deutsche mark.  In a relatively short time the German economy recovered laying the foundation for it's economic prosperity thanks to the pioneering, free market vision of Erhard.

So why did I decide to post this article?  The main reason for this is that I believe that our country like Germany is heading closer and closer towards a European style socialism.  What do I mean by this?  Think about it.  It is eerie how the Obama administration is following a similar path as Germany did by adopting similar Keynesian policies.  History has shown that whenever a government attempts to jump start an economy it doesn't work.  Think about Roosevelt's New Deal; sure more jobs were created in the short term, but over time Roosevelt's New Deal could not get our country out of the great depression. World War II did. Seriously how many roads, buildings, and bridges can you build?  The key to any economic recovery is by creating new jobs, from new previously untapped industries; most of the time which come from the private sector.  Ludvig Erhard knew this that's why he was able to save the German economy. 

The message to the government is glaringly simple:  Leave us alone&stay off our backs.  Once you do this  - we will have our own ''American Miracle".


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