"We are out of money". - Barack Hussein Obama
Posted on 06/01/2009 5:01:09 AM PDT by Red Dog #1
We've survived a financial meltdown, and we're working through a recession. But another phase -- when all the money printing melts down the dollar -- is just getting started.
Snip... This is a much more subtle but pernicious crisis in some ways, as it's not so apparent but is disastrous in the long term.
My reason for saying so? Because if the dollar is called into question (as now appears to have begun) and if the Federal Reserve's monetization cannot lower interest rates (and in fact causes them to rise, due to the consequences of printing so much money), then the Fed is trapped. The more it tries to solve the problem by printing more money, the worse it all becomes.
(Excerpt) Read more at articles.moneycentral.msn.com ...
This is what we get for appointing “Helicopter Ben” as the CFR. His theory was that you cure downturns by dropping large bags of $$ out of a helicopter. Kinda like Santa Claus. There was a time when such a theory would have been laughed at. Now, he’s running the show. Sigh......
Good. I've known this all along. Maybe now that it's being discussed, obama will be slowed down by those who don't want freedom and capitalism dismantled.
maybe this will stop zer0 care in its tracks, also force govt to cut back on crazy spending.
The dollar will be devalued. That was the report from the Bilderberger meeting last week.
It’s time we paid attention to who is running things. It isn’t BO.
We can hope...
"We are out of money". - Barack Hussein Obama
I thought that Bush’s spending was reckless for most of his time in office, but obama’s proposals are insane. We cannot spend an extra $1.8T ($18,000 per household more than the feds bring in, or $36,000 per family that actually pays income taxes) without consequences that should frighten all of us.
I am interested if you have a link for that. I would certainly like to know more. Thanks.
Oh no we haven't. All we've done is delay it.
..."and we're working through a recession.
No we aren't.
...But another phase -- when all the money printing melts down the dollar -- is just getting started.
One out of three, I guess that's the best we can expect from left stream media.
The Canadian dollar has shot up to .92 cents (US) from .86 cents (US) in the last week alone. I was projecting it would reach par by xmas, looks like I'm wrong. This is one of the most obvious indicators of how bad our dollar is performing on the world stage, and also drives up the costs our the important commodities we import from Canada, oil and natural gas.
I can hardly wait for Obama's " cap and trade" carbon tax. That should kill off the rest of our oil based industry.
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Added a new one
Two in the same day and it is only 8:42 AM .
So much to worry about...
First our retirement money was cut in half by the falling stock market. Now what’s left will be devalued to nothing.
later
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