Showing posts with label national debt. Show all posts
Showing posts with label national debt. Show all posts

Sunday, June 19, 2011

A case against Obama

By every single metric people are worse off and suffering more now under Obama than they did under Bush. The only one's who are actually doing better are the hyper rich. Obama took trillions in stimulus and bailout money and gave it to his Wall Street banker buddies who turned around and either invested it in foreign banks, gave themselves huge bonuses, invested it in risky hedge funds (which they promised they wouldn't do) or loaned money to their fellow banks at near 0% interest rates here in the US, they were supposed to lend that money to the middle class, the working poor and small business owners and that is precisely what they didn't do! Credit is still very tight and there is no sign that liquidity will open up anytime soon.

Obama's Federal Reserve has pursued one of the most reckless policies in history with quantitative easing (buying up $600 billion - $1 trillion USD), QE1 was proven to have failed, so they stupidly went away with QE2 and now we see that has also failed. Moron Ben Bernanke denies QE3 is happening all the way the Fed keeps buying bonds! We already have a fiat currency, but when you monetize the debt on top of record deficits and debt you compound bad fiscal policy with bad monetary policy. The reckless policies of the Fed are killing us, their inflation game must be stopped. The real point of QE was to drive down interest rates to nothing so his hyper rich buddies could benefit (including one of Obama's main financier's George Soros). In fact since regulators knew about the housing and credit bubbles and did nothing and major banks knew it was an intentional program to make trillions of dollars and then when the bubbles burst to devalue assets so the hyper rich could buy them up at a bargain.

"The individual is handicapped by coming face to face with a conspiracy so monstrous he cannot believe it exists." - J. Edgar Hoover

ZIRP (zero interest rate policy) and QE (quantitative easing) do not work! The only thing it has done successfully is to transfer wealth to Wall Street and the international banking cabal while recklessly monetizing our debt, increasing inflation and devaluing the US dollar. Bernanke is utterly clueless, he is an educated idiot, his untested academic models are not to be tested on a weakened US economy. Their lauded fiscal stimulus did nothing except make things worse!

As a result we are now in danger of falling into hyper inflation, the value of the US dollar has been so far reduced it will likely never recover and since cost of oil is index on USD this has played a part in rising oil costs - along with immoral behavior of oil speculators which Obama won't do anything about:

We are now heading into a Double Dip recession.
Since Obama has been elected inflation has been skyrocketing and things are about to get much worse as we enter hyperinflation! Note that the inflation formula the Fed uses does not include food or energy costs - both of which have been surging like crazy in the past 2 years so we're in for a tougher time on the middle class and more misery for the poor. Honestly how can anyone say they are better off now than they were 2 years ago or that the country is better off as a whole?

We already have two costly wars so Obama gets us involved in a third war in Libya. Bush got Congressional approval for Iraq and Afghanistan wars, yet Obama's Libya war is  illegal - he never got approval and thus should be impeached. Perhaps the former Constitutional professor and then serving U.S. Senator Obama forgot his own expert opinion on December 20, 2007:

Q: In what circumstances, if any, would the president have constitutional authority to bomb Iran without seeking a use-of-force authorization from Congress?

A: (Obama) "The President does not have power under the Constitution to unilaterally authorize a military attack in a situation that does not involve stopping an actual or imminent threat to the nation."

Further he said, "In the end, no amount of American forces can solve the political differences that lie at the heart of somebody else's civil war."

-- NBC's Today Show on January 11, 2007"

Then Senator Joe Biden answered the same question:

"I asked them to put together [for] me a draft, which I'm now literally riding between towns editing, that I want to make clear and submit to the Untied States Senate pointing out the president has no authority to unilaterally attack Iran. And I want to make it clear, I want it on the record, and I want to make it clear, if he does, as chairman of the foreign relations committee and former chair of the judiciary committee, I will move to impeach him."

Now Obama has us fighting a three front war. US needs to bring all troops home. Obama and mainstream media and Democrats viciously assailed Bush on going to war in Iraq and that was after he waited 9 months, got numerous UN sanctions and two authorizations for war from Congress, Obama has done none of this. The hypocrites in main stream media will once again look the other way! Notice hoe once Obama was elected the near 24x7 critical news cycle regarding Iraq and Afghanistan suddenly disappeared?!

The wealth gap is now larger than it's ever been, the US has the largest wealth gap of all industrialized nations, and it is accelerating! In the past 10 years the only ones who have seen real income go up are the rich.

“Our cause is noble. It is the cause of mankind, and the danger to it is to be apprehended from ourselves. Shall we slumber and sleep, then, while we should be punishing those miscreants who have brought these troubles upon us, and who are aiming to continue us in them; while we should be striving to fill our battalions, and devising ...ways and means to raise the value of the currency, on the credit of which everything depends?” - George Washington   , George Washington, letter to James Warren, Speaker of the Assembly of Massachusetts, March 31, 1779.

On foreign policy Obama has been a disaster, the killing of Osama Bin Laden was based largely on intelligence from actions of the Bush administration and even though Obama know where Osama was for over 6 months he refused to act and the CIA and DoD had to take the initiative. Bush was right! Enhanced interrogation works and is a valuable tool.

And Obama's attack dog Eric Holder at the Justice Dept., the same racist guy who refused to prosecute Black Panthers who intimidated white and black voters, is going forward with prosecuting CIA interrogators with torture allegation. These patriots deserve medals not prison! Without them we would never have caught Bin Laden. Even liberal Leon Panetta who Obama appointed head of the CIA has publicly admitted that water boarding of KSM and other Jihadists and other forms of enhanced interrogation led to the highest value intelligence. For the sake of appeasing Muslims Obama has alienated our closest ally in the Middle East, Israel; the only real functioning Western style democracy in the region! The temerity of this main to dictate to Israel what borders they should have. Even Obama's own advisers told him otherwise, yet he makes a fool of himself by telling Israel they must agree to pre-1967 borders, such borders are indefensible. The Hamas-led Palestinian Authority now has over 50,000 rockets (courtesy of Iran) which they are preparing to use against Israel. Note that Hamas is dedicated to the total destruction of the state of Israeli, they want a one state solution - them! Yet Obama does not dictate policy to them they way he does with Israel. His bias is clearly showing. Speaking of Iran, they are getting dangerously close to producing a nuclear weapon, yet Obama's administration has not done a single them to oppose them. Bush did more to advance the peace process with his Roadmap to Peace than Obama. Obama is only making things worse with his unrealistic unfair pro-Palestine demands. Regarding his naive and clueless speech where he outlined his foolish foreign policy on Israel Rep. Joe Walsh said it well, "Today's speech was just another example of Obama throwing our allies to the wolves in a vain attempt to appease our enemies." Obama's administration has been one blunder after another. He is a horrible leader. If Obama is reelected in 2012 I shudder to think what it will mean for America. We can't afford 4 more years of the most liberal president in US history.

Obama's legacy: socialized medicine, hyperinflation, multiple recessions, devaluation of US Dollar, fascist TSA which violates our Constitutional rights, trillions of dollars given to Wall Street bankers, high unemployment, price of oil sky high, record national debt, weak foreign policy, hyper-partisanship, dishonest corrupt government and general incompetence in everything he touched!

Geithner, Bernanke, Greenspan, Paulson, Rubin and Summers belong in federal prison for their crimes!!! As the Financial Crisis Inquiry Commission report (PDF) showed the crisis was man made and preventable.

“There is a war going on in this country...waged by the wealthiest people in America on the disappearing and shrinking middle class of our country. The nation’s billionaires are on the warpath. They want more, more, more. Their greed has no end and they are apparently unconcerned for the future of this country if it gets in the way of their accumulation of power & wealth.” -- Sen. Bernie Sanders

How does a student with failing grades at a lower tier school, Occidental College, suddenly get into Columbia University? Obama failed to attain even minimum honors while at Columbia and never once made the Dean's List, he refuses to release full academic records, yet suddenly Obama is given one of the extremely coveted and limited seats at Harvard Law who has an acceptance rate of around 1%! It is the most difficult graduate program to enter in the entire world. Students with perfect grades are routinely turned down, yet mediocre student Obama miraculously was accepted! And he did this without a scholarship allegedly.

We have a national debt over $14 trillion USD, soon the interest payments on that debt will be $1 trillion a year alone! S&P has cut the U.S. Sovereign Debt rating to negative for the first time since the Great Depression. And we're in danger of losing our AAA bond rating and becoming a a failed economy brought down by massive debt like Greece.

Knowing all of this what does Obama do? Does he do ANYTHING to offer relief to hurting Americans? No. Instead he goes ahead and stubbornly tries to push through cap & trade regulations at the EPA which would double or even triple electricity prices in the next few years! He refuses to allow us to build any new clean coal electricity plants or nuclear power plants. The man is clueless.

Obama's girl Napolitano of Homeland Security is so inept it would be comical were the issues involved not so important. She won't profile Muslim men who fit the terrorist profile, yet has no problem with her TSA goons molesting 5 year old kids, groping non-Muslim women in their breasts and doing extensive search on 80 year old white grandmas. Really effective! WE NEED RACIAL PROFILING YOU MORONS! 99.9999% of all Jihadists plots against the US (both failed and successful) were conducted by people of Arab or African features - not Caucasians, not Asians, not Hispanics! Giving full body search to a white baby, while letting 25 year old Saudi student stroll right through is utter madness and the height of idiocy. But they must bow down to altar of political correctness and pretend EVERY race is an equal threat when reality screams otherwise!

Every area Obama and his minions touch they utterly ruin. People attacked Bush but at least he wasn't utterly clueless. You can't run the presidency like a college classroom. Obama is intelligent yet lacks the proper wisdom and leaderships skills to be an effective president. He has analysis paralysis. Obama is an unyielding ideologue trying to push his far left agenda on America which is not a majority leftist country. Obama knows the vast majority of the country is conservative-moderate, yet he refuses to stop implementing his socialist agenda. What he's done to the economy and our fiscal and monetary policy will take generations to correct. Such ineptitude with monetary policy in particular hasn't been seen since the 1920s. Attack Bush all you want, but when Bush left office the recession Bush inherited from 9/11 and the housing and credit bubbles was ending (thanks to his leadership), the unemployment rate was around 4%, our debt was big, but that was due to two costly wars mainly, but still manageable around $8.5 trillion, inflation was significantly lower, the value of the US dollar was significantly higher, Egypt was not lost to the Islamists, our support for Israel was still unwavering, and economic growth was higher than it is now. By any metric you choose things are worse now than they were 2.5 years ago. Under Obama our unemployment rate has skyrocketed to 9.1%, economic growth is an anemic 1.5% of GDP. The real GDP growth is now only 0.2% off what it was during height of Great Depression - 1.5% currently (1.3% then),  GDP growth under Obama:  2008:  0%, 2009: , -2.6% (that's negative 2.6%), 2010:  2.8%  The mainstream media with its liberal bias has a lot of complicity in our problems. Obama was THE MOST RADICAL PRESIDENTIAL CANDIDATE IN US HISTORY, which scandal after scandal, friends with terrorists, the most liberal ideologue in the history of the Congress, yet the mainstream media gave him a free pass, refused to exercise due diligence and investigate his past, refused to ask Obama hard questions.

The housing  market is in ruins. Half of all mortgage holders owe more than their home is worth. Mortgage prices have fallen 33% which is more than they did during Great Depression (31%). The percentage of Americans who want work and can't find it is now worse than during Great Depression. And thanks to the asinine Federal Reserve the US dollar is very devalued and we are close to seeing hyperinflation. Our national debt is over $14 trillion, and our unfunded liabilities are $50 - $100 trillion! OBAMA'S AMERICA! The income gap between the rich and poor is bigger than enough and it's accelerating! Consumers buying power is a fraction of what it was only 50 years ago! But the Wall Street banks got bailed out and used the stimulus money lending to foreign banks and US banks at near 0% interest, giving themselves huge bonuses, further investing in risky hedge funds, and they aren't lending to middle class Americans and small businesses! IT'S MADNESS! We should stop all foreign aid now until we fix the economy, monetary policy and labor market. Obama just gave $1 billion to Egypt. And the unemployment rate is now up to 9.1%  -  for the 28th consecutive month above 8%  (and the real rate is over 20%). Energy costs domestically are due to skyrocket thanks to stupid liberals refusing to let us build 'clean coil' fired plants, won't let us build nuke plants and Obama's EPA is about to impose cap&trade madness that may see our electricity prices double or even triple in the next few years! In my state of Pennsylvania we have the LARGEST proven coal reserves in the world (enough to last for 500 years), we also have one of the largest natural gas reserves in the world (enough to last for at least 100 years), so there is no excuse for having such high energy costs. Obama has analysis paralysis, he just cannot make tough decisions well, and his extreme liberal bias will cause him to keep messing up the economy As if that wasn't bad enough now he goes and alienates Israel our closest ally in the Middle Eats and the ONLY true functioning Western style democracy in the region! Expect Obama to start pushing for legalizing illegal immigrants soon so that he can count on those votes to save his failed presidency!!!!! WE CANNOT AFFORD 4 MORE YEARS OF OBAMA! HECK, WE CAN'T AFFORD 2 MORE YEARS, IMPEACH HIS ASS NOW!!!!!!!!!!

After 2 years of Obama's Stimulus, Bailout and economic, fiscal and monetary policies there is still no economic recovery!

It took 8 years and 2 unpopular wars for Bush to get approval rating in the 40s, it took Obama only 2 years to get worse approval rating than Bush ever had! Obama is just clueless on nearly every issue.

Obama's horribly dumb and naive idea of imposing pre-1967 borders would leave Israel indefensible.

Also note Obama's extreme lack of transparency (both in his personal life and administration) despite claims his would be the most transparent administration ever! Obama ignored the will of the majority of Americans to shove his flawed Obamacare through which will raise costs for many Americans and penalize people who can't afford it. That is no solution. Any national health care plan which does not lower costs across the board is an abject failure. But he doesn't care about the suffering lower middle class, the working poor, or the poorest of the poor who are unable to work due to disability.

For all the leftists hollow charges of anti-Constitutional behavior against Bush it has been Obama who has overseen an assault on the 1st, 2nd, 4th, and 10th Amendments which is unparalleled in modern times! So much for the Constitutional professor Obama.

Obama is a prideful and arrogant man.

"According to Christian teachers, the essential vice, the utmost evil, is Pride. Unchastity, anger, greed, drunkenness, and all that, are mere fleabites in comparison: it was through Pride that the devil
became the devil: Pride leads to every other vice: it is the complete anti-God state of mind."
- C.S. Lewis

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