1 Introduction

The Blog

[Monty Pelerin’s World](http://www.economicnoise.com “”) is a blog begun in September of 2009. Economic, political and financial issues are covered. What began as a hobby turned into a greater commitment than expected. The folly that passed for news and analysis was too target rich to deal with part time. The blog now has 4,200 posts.

The Book

This book deals with President Barack Obama’s phenomenal fall from grace. He entered office more popular than John F. Kennedy or anyone else in modern history. His performance suggests he will leave office rated below the hapless Jimmy Carter, generally acknowledged to be the worst president of the last several generations.

With about two and a half years left in his second term, the bottom still is not in sight for Obama. He and his policies have become an embarrassment for America. The economy still hasn’t recovered despite policies that will impoverish future generations. Foreign policy is a disaster. Allies are nervous and enemies are emboldened.

More importantly for Obama, his supporters in the Democrat Party and the media are very nervous. Their man has not lived up to his billing and his failure now threatens to discredit them. [Peter Wehner of Commentary](//www.commentarymagazine.com/2014/05/21/the-new-obama-narrative-epic-incompetence/ “”) magazine describes the problem:

We’ve learned the hard way that Mr. Obama’s skill sets are far more oriented toward community organizing than they are to governing. On every front, he is overmatched by events. It’s painful to watch a man who is so obviously in over his head.

This problem didn’t develop. It came with the man. It was who he was. Once the imagery and blind adulation wore off and the curtain pulled, there was nothing of substance there. This Wizard of Oz was not some bumbling, harmless old man. He was pompous, arrogant, mean, disingenuous and incompetent. He was doing serious harm to America and the world.

So long as the curtain hid the real man, Democrats had an asset. Now, they face a serious problem. How they handle this issue may determine the future of their party.

The 2014 elections likely will alter the balance of power in Washington. If so, Democrats and media may be forced to make a decision whether to stand by their man or to protect themselves. They will likely choose the latter, given the increasing dissatisfaction with Obama and the extraordinary number of alleged scandals, any one of which has the potential to sink him and the party. By some counts these number 25 and still being discovered – the VA hospital disgrace being recently exposed.

Impeachment is a harsh word and an extraordinary event. Its likelihood is not high – yet! However, Obama’s situation becomes more precarious seemingly by the day. No one knows what may be uncovered in terms of real investigations. Benghazi shows evidence of a coverup. The IRS scandal is not going away and what seemed less abuse caused Nixon to resign. These are merely two vulnerabilities. At least a half dozen more could erupt.

If Obama becomes too big a liability for the Democrats or the media, look for them to abandon him. At such point they might assess Obama, figuratively, worth more dead than alive. If so, these once-ardent supporters will turn on the fake messiah. Politics is not a noble business. It is one of survival and self-preservation.

Any new meaningful revelations pertaining to the alleged scandals would likely trigger a political earthquake. Signs are apparent as to what would happen. Democrats running for office avoid Obama like the plague. Media now openly question Obama’s ability and failures. These are what we see. What is being said in private is alleged to be much harsher.

More importantly for Obama, supporters in the Democrat Party and the media are nervous. Their man has not lived up to his billing and now their sponsorship threatens to engulf them.

The 2014 elections likely will alter the balance of power in Washington. If so, Democrats and media may be forced to make a decision whether to stand by their man or to protect themselves. They will probably choose the latter, especially given the unknown threats associated with the extraordinary number of alleged scandals that will come under closer scrutiny. By some counts these number 25 and are still being discovered – the VA disgrace being the latest.

Impeachment is a harsh word and an extraordinary event. Its likelihood is not high – yet! However, Obama’s situation is becoming more precarious. Future events are potentially very damaging. No one knows what may be uncovered in terms of investigations. Benghazi has shown that Congress did not receive the information it requested. Use of the IRS got Nixon in trouble and this Administration’s involvement in this area could be worse. And these are merely two vulnerabilities. At least a half dozen more could explode.

Events could trigger momentum for dumping Obama. If he becomes too big a liability for the Democrats or the media, look for them to abandon him. At such a point it may be judged that Obama, figuratively, is worth more dead than alive. His once-ardent supporters will turn on this pretend-messiah if it is a way to protect themselves.

New information pertaining to any of the claimed improprieties would not be good news for Democrats. Any meaningful revelations could trigger a political revolt. Early signs are already apparent. Democrats running for office avoid Obama like the plague. Media now openly question Obama’s ability and failures. These are public reactions. What is being said in private is alleged to be much harsher.

The chapters in this book originally appeared on Monty Pelerin’s World. Many also appeared elsewhere, including sites like American Thinker, PJ Media, Zerohedge and other places. The substance of the original articles is unchanged, although editing has been applied to clean or clarify. No attempt to alter the prescience or lack thereof has been made.

Author’s Political Disclaimer

This book deals with Barack Obama whose time in the presidency is almost coterminous with the blog. It is not incorrect to assume that the election of Barack Obama and his proposed, absurd policies motivated the initial entry to the world of blogging.

It would be incorrect to infer that the author is a Republican or has a dog in political races. Were the blog to have occurred earlier, during George Bush’s tenure, it would have been different, but also critical. One of the earliest posts, for example, considered the question of whether Bush was our worst president.

H. L. Mencken captured my attitude toward politics and government in one statement:

Every decent man is ashamed of the government he lives under.

Those who know Mencken’s work know that there are hundreds of statements that could have been chosen that express similar dislike for politics. This one was convenient and short.

There is a decided bias included in this book. It is not one that discriminates between Democrats or Republicans. It reflects Mencken’s statement regarding government, but with some qualification. Government has a legitimate role in society, but that role is extremely limited.

Government should not be confused with Statism which is what we have today. Statists dominate both political parties. Both attempt to perpetuate the myth of government, which simply stated is the myth that government is a force for good and can improve society.

The reality is that government can do nothing good or well. That is why it is best kept limited. Statism is the source of current problems misery, not a cure. Bigger government only means bigger problems.

In that sense, I dislike Democrats and Republicans. I am an equal-opportunity hater with respect to politics and politicians.

Early Conditions

One of the first posts, (Sept. 13, 2009) discussed the conditions that confronted the country, its government and its people when President Barack Obama entered office in January of that year. Here are important issues that he had to quickly confront:

• The country was in a terrible economic and financial crisis.
• The government’s response to the financial crisis angered many citizens.
• The health care row he created is a political disaster that further fuels anger.
• The recent rally in Washington (protest) “surprised” officials with the number of participants.
• Tea Parties around the country are seemingly growinging in numbers (if not major media coverage).
• Political unrest is unlikely to subside because the economic situation may drag on for years.
• There is risk of civil unrest.
• Washington is arrogant and out of touch.
• Many believe Washington and the financial industry are an oligarchy that runs the country and looks out only for themselves.

The country suffered a financial crisis so severe that it might more properly have been called a Depression. Unprecedented, and some said unconstitutional, steps were taken to bail out major financial institutions and re-start the economy. The economic recession was declared over in June 2009, a claim that many found incredible. Federal Reserve quantitative easing continues to this day, as does the use of the word “recovering” when describing the economy.

Great uncertainty and anxiety characterized the country in 2009. Some concerns were expressed:

How this plays out depends upon many factors that are unknowable at this point. Will Washington continue to believe that the people work for them rather than the other way around? Will the economic pressures in the form of continued high(er) unemployment continue to build? If the “system” appears to be unfair and unresponsive, a feeling held by increasing numbers of citizens, civil unrest could get ugly.>

Most of the issues Obama was faced with are not better today, five and a half years later. Arguably he made some worse, especially the healthcare issue. Additionally, he revealed himself to be untrustworthy and incompetent. These personal weaknesses and his ineffectiveness destroyed his image and his presidency.

He went from “Messiah” to a Flimflam Man. He became the Elmer Gantry of politics.

The Organization of The Book

The book is developed in chronological order. It is almost a diary (with some large gaps in time between chapters). It came from a blog, essentially a diary when multiple posts are created daily. Posts have been edited (some heavily) in order to improve readability. The substance has not been altered in order to make them appear more or less prescient.

Each chapter contains the date that the original post appeared. The website is still active. Readers are encouraged to view the originals or posts not included in the book. In that sense, the book provides the hightlights of a diary. Author opinions and analysis of developments are presented as they were happening.

The saga of Barack Obama is not over and the blog continues. So does the book. Periodically, the electronic forms will be updated for readers. Hard copy will also, although that probably necessitates another book purchase.

The period ahead is going to be exciting, perhaps even historic. I look forward to watching and commenting on it.

Sections of The Book

The book is divided, somewhat arbitrarily, into sections which the author sees as related:

PART ONE: Reality Displaces Myth

PART TWO: The Unlikely Re-Election of Obama

PART THREE: The Slide Continues

PART FOUR: Runup to 2014 Elections

PART FIVE: Beyond 2014

In this edition, the first three parts are complete. Part Four is under construction and Part Five is yet to come.