Monday, November 3, 2008

Coal - the employer of the unskilled middleclass (and I suppose some skilled as well)

A video has surfaced. In it Obama says his policies will bankrupt the coal industry and cause energy prices to skyrocket. I don't know about you, but this seems like a really bad idea when we are heading into a recession. Right up there with Hoover's decisions to increase taxes on businesses and impose protectionist trade tariffs that launched an international trade war and helped force us into a Great Depression. Wait, doesn't Obama want to increase taxes on businesses and put in protectionist trade measures? Huh. This isn't looking good for the US economy.

I mean I am no Ph.D. in economics, but I am also not an idiot (As a side note I said years ago that the housing market was in a bubble, before even the Ph.D.'s agreed, so maybe I am smarter than Ph.D.... or maybe not, just saying). Call me crazy, but it just seems like a really bad idea to put in place policies that will bankrupt an industry that provides jobs for a whole lot of middleclass Americans (not including the impact the destruction of the coal industry would have on industries like railroads that derive a lot of business and profit from transporting coal) and cause energy prices to sky rocket. This would seem to hurt the middleclass. And I just don't think Obama's welfare for the working tax policy will compensate for the increased energy prices and higher unemployment.

Here is a link to a website that has tons of stuff on the video:
http://www.baltimorereporter.com/index.php?cat=38

here are some people's responses to Obama's comment:
http://www.marketwatch.com/news/story/Ohio-Coal-Association-Says-Obama/story.aspx?guid=%7BDFD1EBEB-73EC-4661-B8BA-40D8EBD7D93D%7D

http://www.wvrecord.com/news/215679-coal-official-calls-obama-comments-unbelievable

http://news.aol.com/political-machine/tag/obama/

and CNN mentions it in a highly slanted way that ignores the fact that the newspaper with this video never released a transcript and never mentioned it contents to anyone, but they had the video in January so apparently it is old news even though no one had ever heard it (slant much??)
http://politicalticker.blogs.cnn.com/2008/11/02/palin-knocks-obama-over-months-old-coal-comments/

Let's see if Pennsylvania officials actually care about their citizens. Will they say "Folks, I changed my mind. Don't vote for Obama." Or will they keep drinking the koolaid.

PS - Some democrats response has been but McCain supports cap and trade, too (this response doesn't work for a toddler, I'm not quite sure why they think it'll work as an adult). However, the plans are VERY VERY VERY different and McCain's plan is not going to bankrupt coal or drive up energy costs. His is more economy sensitive. Go research and compare. And, after all, he is a Republican. You know the green we speak of is money not trees (though we do love the environment, just a little less than Obama apparently).

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