Posted on 03/22/2009 5:01:28 AM PDT by Zakeet
LOL! Obama,the False Profit!
One of the comments at the article is great:
“The Messiah’s next original thought will be his first.”
LOL! This thread is the best!
I LOVE IT!!!!!!!!!!!!!!!!
The bottom line is that there isn't sufficient margin (ie asset inflation) to sustain the level of credit expansion necessary to continue driving (illusory) economic activity in the form of consumer spending. In other words, the FIRE economic model is DEAD. As a result, the tax receipts derived from income, sales, property & capital gains taxes necessary to support the welfare state are cratering.
In the near-term, as a result of slowing export demand & growing unemployment, both sovereign wealth funds (eg China) & domestic savers will greatly reduce, if not outright halt, their purchases of Treasuries. This will reach a point where the volume of debt sold will not even cover base-line operating deficits, much less finance the TOTUS fantasy budget (eg card check, health care, cap & trade, education, civilian force, etc).
And forget about printing money - after the People experience first-hand the immediate inflationary price spike effects of the Fed monetizing the debt via quantitative easing (QE), the Fed will be reigned in by Congress to prevent any further destruction of the $USD. (Because we ultimately need a steady, if weak, $USD to encourage foreign capital investment - assets [like factories], not debt.)
At this point, without the ability to either raise/access new credit via Treasury sales, nor print money by Fed QE, the Fedgov will have no choice but to make significant cut-backs so that expenditures meet revenues derived from actual hard-money tax receipts.
There is nothing the brain-fried crackhead nor his masters can do about this playing out. (The drug-addled -0- doesn't even have slightest clue as to what is transpiring. We are actually extremely fortunate that an affirmative action incompetent of his magnitude is the Left's token figurehead.) These course of events were set in motion decades ago and are now finally coming to their final fruition. Remember, socialism always fails! It does, it will, and it is actually in the process of doing so as we watch world events unfold.
Kick back and enjoy the show - just make sure you have food, firearms, family & friends in place to form your local support organization when the SHTF.
But you are using logic, truth, intelligence, and reason.
Obama doesn’t understand any of that....
You mentioned “revenues derived from actual hard-money tax receipts.”
That is the scary part....
he will tax us all at 90% or more
I know it's fashionable to be the cynical victim, but if people want to not just survive, but thrive in the coming years, they need to understand what really is happening and make the proper preparations.
The reality is that the US is simply going to become an impotent force.
This word just came to mind
UNSUSTAINABLE
that is Obama’s plan
it is UNSUSTAINABLE!!!!!!!!!!!!!!!!!
They were saying a month or so ago that to pay for Obama’s agenda we would all have to be taxes at 90% or more. And people laughed. That would NEVER happen. Now, it is being threatened at AIG. Never say never.
I am stocking up on food, water, meds, bullets, batteries, candles, MREs, etc.... And my veggie garden is doing very well.
Surely in this land of geeks and computer experts someone can figure it out!
I would put " I pledge aliegence to the united States of America. . . . . "
Don't forget your pitchfork. . . . .
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