What’s with this 500 year reference? So Obama is dealing with the worst economic problem in the last 500 years?
And Joe Biden said that the raid to kill Bin Laden was the most courageous military action of the last 500 years.
So, is this going to be a campaign theme? That Obama has confronted the worst challenges of any kind in the last 500 years? Why did Bill mention a 500 year time line??? What’s that all about???????
Is it stupid to mention that the economic system and structure we have in place now did not exist 500 years ago?
EU entering recession, Japan in stagnation and China growth dropping by 50 percent. So where is the US planning to export all their products? Central banks all will print more paper money causing more inflation in US killing our buying power thus the middle class. Otherwise every nation will enter deflation which will kill the bank assets as price of houses, etc drop. Since the entire world system is held together by loans with printed money, or currency swaps and at the sametime banks have highly leveraged derivatives over their heads while the governments have deficits and unfunded liabilities over their heads, there is not much wiggle room if a Black Swan event occurs.
I'm totally serious when I say this:
1492. Pretty much 500 years ago. Everything changed then. Gold and silver from the New World started pouring into Europe. Banking took off. Commerce began to be more important than agriculture. Politics changed. The Middle Class started forming. The aristocracy became powerful, yes, but also prone to revolution. If you think you are a member of the Elite, you don't like that.
The Progressives want to take us back to a manorial system where they are the Lords up in the castle, and we are peasants laboring in the fields. They are building a pre-1492 world.
Again, I'm totally serious. Most of the Left may not fully realize their own motivation, but some of them do. Clinton gets it.
He must be on the nose candy again.