Posted on 11/27/2009 4:56:19 AM PST by reaganaut1
When it comes to the problems facing this country, an old slogan comes to mind: “You Ain’t Seen Nothing Yet.”
High unemployment, the recession, and a terrorist resurgence in Afghanistan are bad enough. But there are a number of problems on the horizon that could dwarf President Obama’s first-year trials.
Why the pessimism? In short, we are doing nothing to prepare for the crises to come.
A global recession has led to low oil prices. Yet in this window of opportunity, America has not decreased its foreign-oil dependence. We are not encouraging domestic exploration. And we are still ambivalent on nuclear power.
But as the world economy recovers, oil will probably surge back over $100 a barrel, increasing our oil-import tab by 25 percent or more. The Obama administration, though, mostly is obsessed with subsidizing relatively small amounts of wind and solar power. It likely won’t be long before angry motorists at the pump are demanding to know why we have not pushed for more development at home of still-plentiful natural-gas and oil fields.
Meanwhile, other economic bad news may be just around the corner. Today, interest rates on short-term Treasury bills still are less than 1 percent. But they, too, will climb as business picks up and worries over American inflation spread.
If we have to pay foreign lenders 5 percent to 7 percent interest on our debt, as in the past, the increased costs will gobble up additional billions from our annual budget. Yet sadly again, we are missing this rare opportunity of low interest to pay off cheaply the trillions that we already owe. Instead, we are borrowing even more!
(Excerpt) Read more at article.nationalreview.com ...
Lefties want oil to be expensive. They want us to drive less. To lower our living standard. Our houses are too big and we eat too much, just ask them.
“Wait until California defaults.”
....Ouch!....a Cali default on their bonds would bring Wall Street to it’s knees....and speaking of the Street...the DOW is down 190 in the first 20 minutes of early trading....the default news out of Dubai is shaking things up.
Why do lefties want our living standard lowered?
Does CA already have oppressive environmental laws based on the man-made global warming hoax?
Because it is unjust in their mind. According to them we lower the rest of the world’s living standard because we get too much of the pie. They also want “sustainable” living standards though only they get to define what “sustainable” means.
Make that: “But in truth that didn’t save the day”...
# 12
You wrapped it up quite nicely.
The usurper and his peeps know what 2010 has in store, so I wouldn’t count on any more elections taking place...and if they do, they will be so rigged they’ll make pro wrestling look like church on sunday.
Pray for our countries soul and keep buying ammunition..it’s our only hope.
Sunday and country’s ...got carried away typing...
Well, I’m closing in on 60 years of age, I just learned I will be out of a job after the first of the year, and my 401k and IRAs have never recovered from the devestating hits they took last year. I still have a mortgage, and am a cancer patient. But, my wife and my dog still love me, and that’s all I could ask for.
“We are in for a haaaard winter.”
We are indeed.
“Does CA already have oppressive environmental laws based on the man-made global warming hoax?”
...that’s a good point...I know they have the toughest emmission laws in the auto industry...and their drilling laws have crippled the oil and gas exploration industry...not to mention silly their silly laws regulating the exhaust on lawn mowers.
....Ought-six your courageous attitude has made my day...God Bless You sir!!!
Poverty leads to dependence on the ruling elites. To a leftist, wealth is always relative. Even though the Russian elites lived like pigs, they had it better than the proles, so they were able to feel superior. To a leftist, as long as no one else is better off than I am, I am content to live in squalor.
Well, God bless and keep you. Any chance you could come down South now? A double wide on the creek won’t be nearly as costly as an Illinois house, right?
The only surprise in his Thanksgiving speech was that he failed to reach out to his fellow Islamo fascists.
Look for him to hide his Islamo Nazi roots for the next 10 months.
Assuming yours was not a rhetorical question:
The Bush administration has long sought to open the refuge as part of the president's national energy policy, but the proposal has repeatedly run into opposition on Capitol Hill.
we'd be drilling in ANWR today if John...and John McCain himself killed our ability to drill in ANWR
DATE: November 10, 2005
BACKGROUND: Both the U.S. House and Senate budget bills included a provision that would allow for oil drilling in a small fraction of the Arctic National Wildlife Refuge. The Senate passed its budget bill last week, but leaders in the House dropped the ANWR provision late November 9 after a small group of moderate Republicans threatened to withhold support for the budget if ANWR were included. Although the House repeatedly has voted to allow drilling in ANWR, since most Democrats were expected to vote against the budget, the moderate House members had exceptional leverage in this instance.
The budget measure the GOP moderates held hostage is intended to reduce government spending by $53.9 billion over five years.
A post I made here on FR in regard to this issue in June 2008.
Neuter them in 2010.
Eviscerate them in 2012.
As of Jan.8, 2010 I’ll be debt free!
Then I plan to spread the seeds of hatred towards the left.
Actually I plan to volunteer at locals schools and teach mini history lessons of our nation and it’s people. Not the crap the school teaches. Off the school prem if nessesary.
I think the forecast of this article is wrong - there won't even be a sham recovery in 2010. The economy will continue to stumble along, and the stock markets will dive again below the March lows.
Great Depression II is shaping up to be a lot like Great Depression I. It too had some very sharp bear market rallies, but those weren't fueled by government dollars flowing into the markets, as is the current rally.
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