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Prepare for the Worst
American Spectator ^ | 10/8/08 | Peter Ferrara

Posted on 10/08/2008 8:43:04 AM PDT by truthandlife

Just two weeks ago, a book on economic policy was released that will be a classic for the ages. Entitled The End of Prosperity, by Art Laffer, Steve Moore, and Peter J. Tanous, the book explains in full detail the economic disaster that will befall America if it takes a sharp left turn to neo-socialism under the leadership of the far left President Barack Obama, the ultraleft Speaker of the House Nancy Pelosi, Senate Majority Leader Harry Reid with 60 liberal Democrat Senators, and their pal the ultraliberal Howard Dean heading the Democrat party.

Indeed, one of the insights of the book is that a major factor already tanking the stock market and leading foreign capital to flee America is the threat of the economic policies promised by Obama. Obama proposes increases in every major federal tax, on savers, investors, employers, small business, big business, and anyone who would start a business. Obama also promises to add additional federal spending of almost $1.5 trillion over the next four years, including a new global war on poverty in which Obama would tax Americans and send the money to the UN to spend worldwide (already introduced by Obama in legislation). That would be on top of all the spending increases already scheduled for our exploding entitlements and other programs. Obama also promises a massive increase in regulatory controls, even though government regulation is already estimated to cost America over $1 trillion per year, about $8,000 in lost output for every U.S. household. Then there is Obama's attack on free trade and promises of protectionist trade policies that contributed so much to the Great Depression.

(Excerpt) Read more at spectator.org ...


TOPICS: Business/Economy; Editorial; Front Page News
KEYWORDS: 2008; artlaffer; bailout; democratcongress; democrats; economy; electionpresident; elections; financialcrisis; laffer; nobama08; obama; pelosi; reid; socialism; taxes
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To: showme_the_Glory

I thought I’d pick it up from the library and have a read. Couldn’t find it online. Called my library to check - there is only 1 copy in IL! They are going to try to get it for me.


61 posted on 10/08/2008 10:25:48 AM PDT by Marmolade
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To: kingattax

hehehe!


62 posted on 10/08/2008 10:39:55 AM PDT by Ciexyz
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To: Marmolade

I received it as a gift from my son.


63 posted on 10/08/2008 10:41:04 AM PDT by showme_the_Glory (ILLEGAL: prohibited by law. ALIEN: Owing political allegiance to another country or government)
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To: cookcounty

“Ouch!!! How much of the market drop is due to calculations that Obama may win?”

I think a lot of the market drop is related to fear of an 0bama win. It seems every time the polls are up for 0bama, the stock market goes down.


64 posted on 10/08/2008 10:42:11 AM PDT by jim35 (A racist is someone who is winning an argument with a liberal.)
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To: se_ohio_young_conservative
God is in control. Remember that. We will ride through the dark days.

Focusing on Him no matter how light or dark the days will have His light to shine from us. Nothing draws His people closer to Him than difficult days. His light will shine more noticeable the darker it is. Prayefully, that will lead some out of the darkness.

65 posted on 10/08/2008 10:48:41 AM PDT by lupie
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To: CE2949BB

How are you preparing?


66 posted on 10/08/2008 10:59:18 AM PDT by businessprofessor
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To: truthandlife

After watching last night’s debate all I can say is that we are SO SCREWED! So very, very screwed...

My only quandry now is whether to invest in bullion or bullets. Probably both.


67 posted on 10/08/2008 11:07:48 AM PDT by PsyOp (Put government in charge of tire pressure, and we'll soon have a shortage of air. - PsyOp.)
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To: se_ohio_young_conservative

Yes, God is in control,

and if enough of us don’t beg for Mercy on our country for turning its back on Him,

He will Judge our country with dark times under cruel and oppressive rulers.

It’s been done before.


68 posted on 10/08/2008 11:09:44 AM PDT by MrB (0bama supporters: What's the attraction? The Marxism or the Infanticide?)
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To: snowrip
The Lord helps those who help themselves.

Actually, though a very popular sentiment, this isn't biblical in the least.

Call on Him for help, and do not rely on your own understanding, because it is flawed.

69 posted on 10/08/2008 11:12:30 AM PDT by MrB (0bama supporters: What's the attraction? The Marxism or the Infanticide?)
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To: snowrip
are you attempting to suggest that God prefers us to sit around and wait to be rescued by Him

Yes. Exactly what I(we) are saying.

Psalm 34:17 is only one of the places stating this preference:
The righteous cry out, and the LORD hears,
And delivers them out of all their troubles.

We are to humble ourselves and recognize that all are efforts are in vain without His help.

70 posted on 10/08/2008 11:19:12 AM PDT by MrB (0bama supporters: What's the attraction? The Marxism or the Infanticide?)
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To: pabianice
You nailed that! I too agree that two years would show a return of majorities for Republicans, but I guarantee you that if he's elected, 3 of the 4 oldest supremes will announce a retirement date. Terrifying!
71 posted on 10/08/2008 11:25:57 AM PDT by graywaiter (Gotta love those gun tote'n mommas.......)
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To: 1-Eagle

I do hope your correct but I think most people on FR think that nothing is sticking to the Dems right now.

We will see.


72 posted on 10/08/2008 12:08:40 PM PDT by truthandlife ("Some trust in chariots and some in horses, but we trust in the name of the LORD our God." (Ps 20:7))
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To: sheikdetailfeather

Thanks...appreciate you helping me out. I am sending it around because it puts a few chuckles out there.


73 posted on 10/08/2008 12:28:54 PM PDT by cousair
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To: Presbyterian Reporter

Thanks so much...appreciate your help.


74 posted on 10/08/2008 12:30:06 PM PDT by cousair
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To: Presbyterian Reporter

Thanks so much...appreciate your help.


75 posted on 10/08/2008 12:30:08 PM PDT by cousair
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To: Bloody Sam Roberts

Got it..thanks.


76 posted on 10/08/2008 12:32:04 PM PDT by cousair
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To: Pinkbell

Appreciate your help. It really is funny.


77 posted on 10/08/2008 12:33:20 PM PDT by cousair
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To: Jersey Republican Biker Chick

At the Palin rally in Greenville, NC last night Senator Dole spoke and told the crowd that in order to achieve the 60 member Senate needed to stop all filibusters and ensure that Dems can pass anything they want, Chuck Shumer of NY is pumping 10 million a month into the campaign of Kay Hagan to defeat Dole! 10 million a month—where does that come from?? There are 24 Republicans up for reelection and only 12 Democrats. I wonder if they are pumping that much in all the campaigns against Republicans or just in NC.

Dole is particularly and enemy because it was the Hagel, Sensennbrenner, Dole bill that McCain supported to reform FannieMae which proves Republicans tried to stop the crisis early on.


78 posted on 10/08/2008 12:36:50 PM PDT by nclaurel (No white flags from America in Iraq--hear that Biden!)
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To: truthandlife
There's only one thing you can do to stop this. Put


79 posted on 10/08/2008 12:41:49 PM PDT by McGruff (Sarah. We crave red meat. Red meat!)
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To: truthandlife
The poverty rate actually started increasing in 1978 during the Carter years, eventually climbing by an astounding 33%, from 11.4% to 15.2%. A fall in real median family income that began in 1978 snowballed to a decline of almost 10% by 1982. Average real family income for the lowest income 20% declined by 14.2%. Indeed, during the Carter years (1977 to 1980), real income declined for every quintile, from the lowest 20% to the highest 20%. Real average income of U.S. households was, in fact, in a long-term decline, down rather than up from 1970 to 1980.

I have heard this called a Silent Depression.

A few other thoughts.

This occurred at a time when human capital in the US was as rich as it had ever been. The boomers had entered the work force, and were probably the best educated as far as K-12 grade as a result of the Sputnik challenge. Education had not been dumbed down for the average student as it has been today. Women were entering the workforce with their talents in large numbers. We did not have a large underclass of non-English-speaking immigrants who had not graduated from high school as we do today. But Carter did not lead. It was left to Reagan, using that human capital and sensible econmic policies, to ignite the prosperity up to the present.

80 posted on 10/08/2008 1:01:47 PM PDT by happygrl
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