Posted on 11/27/2009 4:56:19 AM PST by reaganaut1
When it comes to the problems facing this country, an old slogan comes to mind: “You Ain’t Seen Nothing Yet.”
High unemployment, the recession, and a terrorist resurgence in Afghanistan are bad enough. But there are a number of problems on the horizon that could dwarf President Obama’s first-year trials.
Why the pessimism? In short, we are doing nothing to prepare for the crises to come.
A global recession has led to low oil prices. Yet in this window of opportunity, America has not decreased its foreign-oil dependence. We are not encouraging domestic exploration. And we are still ambivalent on nuclear power.
But as the world economy recovers, oil will probably surge back over $100 a barrel, increasing our oil-import tab by 25 percent or more. The Obama administration, though, mostly is obsessed with subsidizing relatively small amounts of wind and solar power. It likely won’t be long before angry motorists at the pump are demanding to know why we have not pushed for more development at home of still-plentiful natural-gas and oil fields.
Meanwhile, other economic bad news may be just around the corner. Today, interest rates on short-term Treasury bills still are less than 1 percent. But they, too, will climb as business picks up and worries over American inflation spread.
If we have to pay foreign lenders 5 percent to 7 percent interest on our debt, as in the past, the increased costs will gobble up additional billions from our annual budget. Yet sadly again, we are missing this rare opportunity of low interest to pay off cheaply the trillions that we already owe. Instead, we are borrowing even more!
(Excerpt) Read more at article.nationalreview.com ...
We’ll see how the Dubai interest payment default plays out today on Wall Street...it doesn’t look good...overseas market reaction was strongly negative.
Personally, our household is planning for Depression-like hard times...eventually our economy will pull thru, but things will not improve much as long as the Dems are in power.
Since that is the directive of liberals it's a sure bet. (don't let a good crisis go to waste)
we need to remove the obama’s from office.
Dubai's 3 huge holding firms are major players in the global derivatives Ponzi scheme with the Chicoms also having some big batters playing.
If one reads enough, one can figure out that derivatives were the launch vehicle for the recent global credit bubble with real estate being the pinpoint target.
In bed with all of that was the CRU, Wall Street, big banks, The Fed, TARP, Porkulus, illegal immigrant, ACORN, Fannie / Freddie and 'housing boom' with the sub-prime mortgage orgy. The bubble has popped and continues to expel putrid air and the US taxpayer gets handed a major chunk of the bill.
I still see a major global economic crash on the near horizon to significantly out pace The Great Depression.
Why, because the US goobermint at all levels continues its deficit spending (at a record pace) and growth while US manufacturing still flees our borders....no jobs means no demand for goods or services.
A nation's true wealth is derived from domestic industrial production, domestic consumption of domestic goods and raw materials. Infrastructure improvements and industry retooling are funded from diligent domestic savings. Consumer credit purchasing of everyday items and funding personal entertainment is mostly a GDP drain. Yes, spend money on such, but do not borrow.
The state run media ignores the impending fiscal disaster from unfunded liabilities and larger payouts to goobermint retirees as the goobeermint feeds itself from my sweat and savings.
Ohhh....BTW, the FDIC is basically broke and Congress, the Fed, nor the Treasury are not responding at this moment and more local banks are going under. They refuse to response because the goobermint is having wet dreams over controlling 'all' the money from 8-10 huge banks.
The commercial real estate bust is just now starting too as indicated by the numbers of smaller local banks failing.
The Fed and Turbo Tax Timmy will blow the call on raising rates intentionally as Zero and The Left are still demanding more wiggle room to spend even more non-existent dollars. Inflation will skyrocket because of that intentional lack of movement...they loathe at taking away their play money to service US debt and those now in power want to and will destroy the US.
We’re prepared for the worst at my house and happy to go through some rough times if it means a complete and total overhaul for 2010, which it will.
Only three fun years left. Just think of it this way; The worse it gets, the more obvious to more people it will be, and the more stark the contrast when another Reagan comes along. The main thing is to encourage and present the next Reagan. There is a real opportunity here.
Things didn't improve during the last depression until we found ourselves in WWII.
Wars are good for business - D or R in power makes no difference.
Neuter them in 2010.
Evict them in 2012.
Now THAT would make an excellent bumper stick/campaign slogan.
His culture from childhood, the Indonesian culture, is very different from ours.
His job experience is an empty shell. There's no achievements other than getting elected and shooting his mouth off.
His religion, Islam, is foreign to 99 percent of Americans. He can bullshit all he wants, we all know he's a Muslim.
He was born a Kenyan. Disqualified.
He's a Con artist.
After one year in Office, you cant hide all these deficiencies. The American people are starting to understand that they were taken for a ride. It would not surprise me to see him impeached and removed for fraud and treason.
Only ONE “fun year” left -— we’re overhauling congress next November!
Make sure you do your part by voting for the opponent of YOUR incumbent, regardless of party affiliation.
A new and different congress will cut Obama off at the knees.
Barry will be boxed in 2010 by a new congress. We just need to avoid another ‘default’ candidate in 2012 otherwise we get this all over again.
Ummm, that election doesn’t come up for another 3 years. Let’s work on getting dems out of the House for now...
By refusing to ‘turn the water on’, President Obama and Congress have ensured an even more destructive to America plan (Cloward-Piven?) with the upcoming increase in food prices.
http://features.csmonitor.com/environment/2009/02/26/drought-hits-california-farmers-hard/
We need to pump our own oil. Can anybody tell me why we are not doing so?
Because Man Bear Pig is on the loose?
“Only three fun years left. Just think of it this way; The worse it gets, the more obvious to more people it will be, and the more stark the contrast when another Reagan comes along. The main thing is to encourage and present the next Reagan. There is a real opportunity here.”
In three years you won’t recognize this country or the rest of the world for that matter. We are in for a haaaard winter.
Wait until California defaults.
Technically it already has with IOUs.
But in truth that it didn’t safe the day. It is only getting worse.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.