Obama Channels Hugo Chavez, Shows Why He Can't Lead On The Economy - Forbes But the speech only showed why Obama cant lead America on the economy. Instead of leading us forward into the modern economics of the 21st century, he keeps reaching back into the economics and politics of old the failed Keynesian economics of Franklin Roosevelt in the 1930s, the disastrous stagflation of Jimmy Carter in the 1970s, and the supposed promise of progressivism 100 years ago, before the demonstrated failures of Marxism worldwide in the 20th century. He drew a picture of America as a struggling third world nation, saying at stake today is whether this will be a country where working people can earn enough to raise a family, build a modest savings, own a home, and secure a retirement. He explained America before his coming as Those at the very top grew wealthier from their incomes and investments than ever before. But everyone else struggled with costs that were growing and paychecks that werent. This sounds more like Indonesia, or Venezuela, or Nicaragua. But it is not America long before the recession hit.