Posted on 08/08/2011 5:51:57 PM PDT by PROCON
Very astute post, Liz. I’ve read elsewhere that “It’s too late to save the Republic, and yet too early for the shooting to start”. A likely apt description of our current situation, IMHO.
Obama’s dreams are our nightmares. I don’t think this chump is going to make it through his first “term”, let alone succeed in securing a second. Hope you’ve got plenty of popcorn, because between the debt crisis, mounting rumblings vis a vis culpability surrounding the gunrunning operation called Operation Fast and Furious, the illegal action ongoing in Libya, let alone the not-going-away questions regarding his eligibility for the presidency in the first place, and I don’t see this chucklehead making it to the end of this (2011) year, let alone succeeding in suckering a plurality of voters into casting their fates on the fortunes of this fraud in 2012. He’s not just toast, he’s burnt toast, and the oven is still set on High.
Well then, who is "on the hook" for Federal Reserve "losses"? The Fed can't increase the monetary supply by 30%+ without a cost. So, who pays that cost?
That’s nice, Mr. Obama, but you also inherited a AAA sovereign debt rating.
So far, you’ve done to that what you’ve done to everything else you’ve touched.
I repeated this a few times. Anyone with dollar based assets. If all my assets are in gold I may still be a taxpayer, but the Federal Reserve is not sending me (oe even congress) a tax bill for the money they lost or gave away as you seem to want to argue for no apparent reason.
Alternatively I could hold a dollar and not be paying taxes, and that money could be devaluated.
"It’s too late to save the Republic, but too early for the shooting to start.”
Ha. Blasted iPad autocorrect.
OK, I understand you now. The U.S taxpayer is not necessarily "on the hook" for any Federal Reserve losses or give-aways. Only those people who have "dollar-based assets" are on the hook. I certainly can't argue with that.
But that begs the question: how many U.S. taxpayers are not invested in any dollar-based assets?
but the Federal Reserve is not sending me (oe even congress) a tax bill for the money they lost or gave away as you seem to want to argue for no apparent reason.
Where did I ever say that the Federal Reserve directly sent out tax bills? I simply stated that whenever the Fed increases the monetary supply, the purchasing power of each individual dollar that we "dollar-holders" hold, is diminished, which is simply an indirect tax. Have you discovered some new evidence that contradicts that?
You are looking for someone else to argue with on this.
When I posted articles on the Fed there were a few deflation hawks are late as last year still claiming that prices would never rise. And even when oil and food went up early this year (as in 2007) or before they argued that was really not inflation because their houses were still worthless.
I'm not looking to argue with anybody. I simply stated that inflation was a stealth form of taxation. Hardly controversial. Or at least I thought.
But you, quite correctly (as in, can't argue with your logic), pointed out that indirect taxation does not equal direct taxation, as holders of dollar assets could see the SHTF coming and flee to other, non-dollar-denominated assets.
What you ignored was my point that inflation is the most regressive form of taxation possible. Sure, you and I can diversify into PMs and FX. But the guy that is living paycheck to paycheck, who has no savings, let alone retirement money? Tell him that a Fed-induced inflation is not taxation, as he watches the purchasing power of his annual income piss away into nothing.
We were behind an SUV at a light coming home from the vet. It had a bumper sticker that said:
SO FAR THE
CHANGE SUCKS
Debt Crisis: Military Spending And Wars Collapsing America
Excerpt:
* * * America spends, by far, more than any other nation—now averaging around $500 to $700 billion a year—on military expenditures annually. In fact, the United States military budget accounts for over 41 percent of the world’s annual military expenditures—some say the true percentage is 47 percent. By comparison, China, which is second in the world, in military spending, averages around $80 billion a year. England and France spend around $65 billion a year * * *Insiders in DC know and understand more $$$ Trillions are wasted each day on military and black budget projects than other BIG BUDGET programs where our government wastes money. But nobody wants to talk about obvious ways to save $$$ Trillions in DC. Knowing and understanding a significant problem exists is not the same as taking steps to cure the problem.For the past several months, Washington Republicans have engaged in hyperventilating hysterics about the need to curtailing America’s debt. But the debt debate amounted to nothing more than a grandstanding theater of the absurd. No serious discussion of the debt can occur without tackling the exorbitant amount of money that is wasted on war. Moreover, lack of jobs and growth are the primary problems now, not the debt. * * *
And corporations involved in military and black ops enterprises also are willing to spend $$$ millions on lobbying efforts to bribe corrupt, spoiled and inept political clowns like Barney Frank and Nasty Pelosi.
How much is wasted every year on special private jets transporting hyper-inflated egos with fat @sses in luxury ________?
THE WAR PROFITEERING GAME Ohaha escalates the Afghan debacle and begins The Ruinous Bombing/Nation-Building Cycle in Libya.
"Officially" it costs the US "$120 billion a year" to finance our military presence in Afghanistan and all the other related functions to keep Karzai in power. Probably the figure is higher, much higher ...lots of CIA and other covert funds don’t get reported........$150 billion is probably far too low. Think $$trillions.
Hamid Karzai was pulled out of obscurity some years ago, thought to be an Afghan hack who could be manipulated. Prodded by the duplicitous neocons with hidden agendas, the US government orchestrated Karzai into a world-recognized power. And ever since US taxpayers, and our military, have been paying the price.
Heck, the US taxpayer got to subsidize one of the three most corrupt governments on the face of the Earth. The Karzai's are stealing $$billions---and were actually seen shamelessly loading $$billions on trucks to transport out of their godforsaken country...so that they could enjoy life far, far away from that hellhole.
US taxpayers have enriched Hamid, and his corrupt brother (recently asassinated), the rest of the crooked Karzai Klan and countless members of their extended family..........a nauseating assortment of cut throats, drug traffickers, embezzlers, money launderers, extortionists, thieves.....
One of the most successful scams is located at the Bank of Kabul where the definition of a “loan” for the well-connected is "all the money you can take with no intention of ever paying it back." So far, the known bank “losses” are something like a $$billion dollars PLUS......."withdrawn" from US tax dollars deposited there by the military, the CIA, the State Dept, and all the other US agencies that were duped into financing this colossal foreign policy failure.
Of course....the war-profiteering neocons got their cut. Neocon Richard Perle is starting an oil business in the Mideast. And if he ever dares sells even one barrel of oil, he should be charged with treason.
” Of course....the war-profiteering neocons got their cut. Neocon Richard Perle is starting an oil business in the Mideast. And if he ever dares sells even one barrel of oil, he should be charged with treason. “
B U M P
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