Posted on 08/07/2011 9:40:21 AM PDT by george76
Barack Obama is offering us a Latin-American future.
Unless things change, the man (or woman) elected in 2012 will be the last American president to preside over the world’s leading economy. If things get really bad, he will find himself presiding over the early stages of American collapse. Not “decline” but “collapse.” “Decline” is what happens when you’re Britain in the 1940s, and you cede global dominance to a major ally that shares your language, legal system, cultural inheritance, and broad geopolitical objectives. That deal isn’t on offer this time round.
...
In the real world, debt ceilings are determined by the lenders, not the borrowers. In March, Pimco (which manages the world’s largest mutual fund) calculated that 70 percent of U.S. Treasury debt is being bought by the Federal Reserve.
So under the 2011 budget, every hour of every day, the United States government spends $188 million it doesn’t have, $130 million of which is “borrowed” from itself. There’s nobody else out there.
In other words, however Congress votes, we’re rubbing up against the real debt ceiling — the willingness of the world to continue bankrolling American debauchery.
(Excerpt) Read more at nationalreview.com ...
The good news is we didn't get the Zimbabwe solution.
The usual great observations by Steyn.
But our own Congressional Budget Office offers a glimpse of what will happen. This economist shows that Geithner’s whining about the S&P downgrade was pure BS. The CBO had already forecasted an “alternative scenario” which is close to reality. And it is UGLY!!!!!!
http://confoundedinterest.wordpress.com
This is only obamao's first term!
“Go on, try it: Hold a vote in your rec room, come up with a number, and then let MasterCard know what you’ve decided on.”
>>>>>The rest of us would like a credible alternative. The Republicans have a habit of nominating the guy whose turn it is — Bob Dole, John McCain. This time the guy whose turn it is is Mitt Romney. Unfortunately for him, his signature legislation in Massachusetts looks awfully like a pilot program for Obamacare.
the stupid party doesn’t have a chance.
Omumbe there in Harare is all about “spreading the wealth”.
Just be patient.
Hmmmmmmm.....well, SOMETHING has to replace our existing system in the event it collapses.
I wonder if anybody has something in mind to replace it with.
On second thought, I'd rather not think about it. I'll just stick my head back in the sand.
He,.......or SHE!!!!!!!!!!!!!!!!!!!!!!!!!!!
I disagree with your last statement. That is what Democrats want us to believe. The people of this country can change Washington. Won’t be easy but it can and will be done.
All too true.
actually, we agree.
i’m for palin.
i’m a conservative not a republican. the stupid party has led down this hole.
I don’t understand how anyone can look at this unmitigated disaster of the Obama Presidency and call it good.
But there are some who do..........:(
100 years of war can do that to a nation. The first half of the last century, it was war in Europe. The second half was war in the Pacific. This century it’s war in the ME and Africa. The sun has finally set on the British empire. That should be a word to the wise. We are broke. Defend America, not the World.
scary
I think it’s safe to say that almost none of Obama’s previous voters are going to turn out for him in 2012. Even the most Amerikka-hating libs are starting to get scared. It’s beginning to sink in that almost nobody is recession-proof in this economy. However much you may hate your country, if it goes down you’re going down with it.
For instance, even the most mindless of black voters can’t help but notice that, as much as whitey is suffering, they’re suffering twice as bad.
Self-preservation will out.
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