How OBUMA is going to Wreck America, not to mention, the World

[Warph]

http://thehill.com/dick-morris/

Coming Next Year: Obama's Inflation
By Dick Morris 
Posted: 03/03/09


In the last five months, according to the Federal Reserve Board, the money supply in the United States has increased by 271%. It has almost tripled.

Have car sales tripled? Home purchases? Consumer spending? Corporate investment? Not only have they not tripled, they have all declined more sharply than they have since at least the recession of 1981-82, and perhaps since the Great Depression.

So where is the money? If it isn't being spent, where is it?

It is being parked, squirreled away. Consumers are using it to pay down their credit card balances, pay off their mortgages, reduce their student loans, make the payments on the car sitting in their driveway -- not the one in the dealer's lot. Business people are buying T-bills, investing the money and saving it. They aren't spending, either.

But one day this recession -- despite Obama's best efforts -- will end and things will begin to look up again. Then we can expect all of this money to come out of its parking space and get back on the highway of commerce. All at once. The inevitable result will be double-digit hyperinflation.

Since the spending and borrowing splurge is not confined to Washington, but is being mimicked all over the world, the inflation will not strike just one country but will be global in scope. The first global inflation in our history (except, perhaps, right after World Wars I and II), it will confront our policymakers with yet another unprecedented challenge and send them back, once more, to their economics texts. There, they will find that the only remedy for global inflation is global recession, a la Paul Volker. Having just emerged from a ruinous depression, nobody will be in the mood for more unemployment, but that is just what will have to happen to cool off the inflation and break the inflationary psychology that is likely to set in.

The point of this gloom and doom is that all this pain is entirely preventable. It will be caused by Obama's excessive spending and trillion-dollar-plus deficits. This spending, of questionable utility in overcoming the current recession/depression, is so far out of line with what the economy can handle that it will do more harm than good when the inflation hits.

Proof that his spending will have little impact on the depression is the vast increase in money supply with no commensurate improvement in the economy. Providing money, via spending hikes or tax cuts, does not guarantee that the money will be spent. Tax cuts can be saved and spending increases, while surely spent once (on the initial project), can rapidly lose their multiplier effect as wage-earners on the government payroll bank their money just like those who get tax cuts will do. Getting out of this economic mess depends on consumer and business confidence, a faith that Obama is eroding with his looming tax increases as rapidly as he tries to kindle it with his excessive spending.

None of this should come as any news to Obama. He likely knows all this. But he is determined to pass his agenda of bigger government, nationalized healthcare and vastly greater spending even at the price of inflation and subsequent recession. He puts ideology first and the economy a distant second.

The stock market has figured out his priorities and is responding accordingly.


One can only hope that voters also eventually realize what is going on.

[Warph]

Dick Morris Prediction: Republicans Will Recapture Congress
http://video.newsmax.com/?assetId=V3643481

Dick Morris tells Newsmax TV that Obama's tax and spend policies amount to a "war on prosperity." He says the worst is yet to come, that Obama's policies are destined for failure, and he predicts a massive backlash that will sweep Republicans back into power in Congress in 2010. But right now, Morris says with the three GOP turncoats in the Senate, Republicans are "largely impotent."

[redcliffsw]

Dick Morris might be right about the Republicans sweeping back into
Congress in 2010 - but it will be more of the same with no real change.
Republican conservatism will not provide change or new direction, nor
has it ever.

Ilana Mercer's column this week:

http://www.worldnetdaily.com/index.php?pageId=90853

[srkruzich]

Dick Morris Prediction: Republicans Will Recapture Congress
http://video.newsmax.com/?assetId=V3643481

Dick Morris tells Newsmax TV that Obama's tax and spend policies amount to a "war on prosperity." He says the worst is yet to come, that Obama's policies are destined for failure, and he predicts a massive backlash that will sweep Republicans back into power in Congress in 2010. But right now, Morris says with the three GOP turncoats in the Senate, Republicans are "largely impotent."

Quite frankly screw em all.  Were going to be screwed anyway by the time elections come up.   Vote a libertarian in office and maybe just maybe we can get back to constitutional lgovernment.

[Kjell H.]

http://hotair.com/archives/2009/03/07/great-news-obama-fumbled-brown-visit-because-hes-in-over-his-head/

Sources close to the White House say Mr Obama and his staff have been "overwhelmed" by the economic meltdown and have voiced concerns that the new president is not getting enough rest.

    British officials, meanwhile, admit that the White House and US State Department staff were utterly bemused by complaints that the Prime Minister should have been granted full-blown press conference and a formal dinner, as has been customary. They concede that Obama aides seemed unfamiliar with the expectations that surround a major visit by a British prime minister. ...

    Allies of Mr Obama say his weary appearance in the Oval Office with Mr Brown illustrates the strain he is now under, and the president's surprise at the sheer volume of business that crosses his desk.

    A well-connected Washington figure, who is close to members of Mr Obama's inner circle, expressed concern that Mr Obama had failed so far to "even fake an interest in foreign policy". ...

    The American source said: "Obama is overwhelmed. There is a zero sum tension between his ability to attend to the economic issues and his ability to be a proactive sculptor of the national security agenda.

    "That was the gamble these guys made at the front end of this presidency and I think they're finding it a hard thing to do everything."

My 2 cents............
Similar situation from any boss who realizes that they bit off far more than they could chew He was ill prepared and completely lacking the required experience of an executive position and it's starting to show.
But I guess he was a "Community Organizer". THAT should make everyone know we have the right man at the helm...

God forbid we have another Katrina, or 9/11. 

[Warph]

Man, you are sooooo right.  How destructive to the U.S. economy would a Barack Obama presidency be?  Beneath Obama's flowery rhetoric lies a dangerous economic plan that will wreak havoc on the American economy.

Obama plans to return to the failed policies of high taxation coupled with an expansion of government spending.

Worse, Obama says he is absolutely committed to almost doubling the capital gains rate — something he will easily accomplish with a Democrat Congress.

In the coming months — when investors realize that Obama will raise the cap gains rate — there could be a stampede of asset sales as investors rush to take their profits now to avoid Obama's doubling of the tax rates next year.
   
Indeed, Obama makes no bones about his plans to go on a tax rampage.  Not only would he increase the capital-gains tax rate from 15 percent to as much as 28 percent, he wants to allow the 2001 and 2003 Bush tax cuts to expire in 2010, which effectively raises taxes on Americans by tens of billions of dollars.

He also wants to do away with the $102,000 FICA payroll tax cap, which means anyone making over $102,000 would pay an additional 7 percent in taxes on earned income.

And the loan dividend tax rate George Bush implemented?  Under President Obama it will be DOA!

[Teresa]

ok.. think about it....

Who is US government going to turn for $1.75 trillion for  2010, on top of $1.2 trillion for 2009? 

Not to taxpayers.
Obama's net tax increase comes to around $170 billion over 10 years.... or $17 billion a year. A mere drop in the bucket. A college freshman economist could have told him that not even these paltry revenues will be realized.

Not to private savers.
Americans are over their heads in debts.

Not to foreigners.
Thanks to Clinton/Bush financial deregulation and Wall Street and bankster greed, the rest of the world is in financial turmoil and hasn't got$1.75 trillion in savings to lend. Possibly, the stock market will collapse further, and whatever remaining wealth Americans have will flow into "safe" US Treasuries. ( yeahhh right))

The only other alternative is the printing press. Printing press finance will  destroy the dollar as reserve currency and ignite high inflation. The US won't be able to pay for its imports, and Americans whose incomes don't rise with the rate of inflation would be totally plowed under.

This prospect is not a "war on terror" scare tactic like "anthrax," "weapons of mass destruction," "al Qaeda connections," and "Iranian nukes."
No.... This is very very REAL..
But there doesn't seem to be any type of  awareness of this reality in Obama's budget.

Obama's "troop withdrawal" from Iraq has proved to be just another con job to get him elected.
The chances are high that our new White House Moron will have us at war in Afghanistan, Pakistan, Iran, and Iraq.The   $205 billion for war in Iraq and Afghanistan will become $400 billion annually and then $600 billion annually. Do the math!
THAT'S BILLIONS!! ANNUALLY!


Then next on the list is Heath Care...
I have done some studies.. and read some things and this is the skinny on it.
Not pretty.. not pretty at all...........................

Medicare is on the ropes. The latest Medicare trustees report says that Medicare's funds for hospital payments will be exhausted in 10 years. To make ends meet, Obama proposes cutting payments to Medicare providers. 

Obama's plan is to make doctors and patients pay for Medicare.

One way to get National Health is to make it uneconomic for private health care to service Medicare patients. Already many doctors will not accept Medicare patients because of the low payments, endless paperwork, and risk of prosecution for "over-billing."
I looked at a Medicare patients medical bill.  Medicare and supplemental insurance paid 29 percent of the billed amount, requiring the doctor to eat 58.5 % of his charges and the patient to pay 12.5%.
The doctor was paid $93.16 on a $320.89 bill. And Obama wants to reduce payments to providers??

What in the hell is he thinking? A country that can't afford Medicare can't afford National Health.Simple as that!
Medicare provides only for the elderly, and it provides very little. A person pays the Medicare tax as long as he earns money.

And basic Medicare leaves a person unprotected.
You have to enroll in Medicare Part B for which the premium is $308.30 per month or $3,699.60 per year.
On top of all of this..... a person needs a privately supplied supplemental policy to complete Medicare coverage.. The drug prescription plan passed by Congress costs the individual yet more.

Now I know that was posting $$ and numbers etc and I realize that is boring.. but that is the facts! We are in some deep doo doo.
The Obama budget puts bankster bailouts and all his pork barrel pkgs ahead of the health of the American people.And I don't want the government telling me what kinds of treatments I can or can't have.

Shall I go on while I'm in rant mode?

Obama's plan to tax the rich is another con job. 

Never mind........ I'm not going on.. I have wasted more time than I should have on this rant and it doesn't do a damned bit of good..and once I get to thinking and typing it is never ending..  sooooooo I'm on to some real work. 

[srkruzich]

Teresa i have been quite pissed all day today.  I went to get my meds and they charged me about double today for the same exact meds i got last month.   I have to take 1 med, thats plavix right now for another 6 months.  hopefully i can get off of it cause it aint cheap.   Its going to get so i won't be able to get them. 
And most of my meds are generics.