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Obama stated, on the record, that the U.S. is
'out of money.' Yet the Fed Prints More
The nation is quickly descending into chaos
A very dangerous thing occurred recently The Federal Reserve monetized
roughly 40% of the nation's enormous debt. This means that the Fed printed
money to flow into the economy in order to cover over 40% of the debt burden
the U.S. now carries.
Within days the U.S. government quickly sold off this portion of the debt,
creating even more debt, leading Treasury Secretary Timothy Geithner to
request from Congress a lifting of the debt ceiling so that we could cover
our obligations. That, of course, will create even more debt.
This economic shop talk may sound like gobbledygook to most average
citizens, like myself. But the bottom line is that what the Fed did last
week will create what is known as 'hyper-inflation.' The cost of goods and
services rises so fast that average citizens can't afford the basic
essentials of living.
However, the dirty little secret among economists and government bureaucrats
is that what's bad for the citizens in this scenario is actually good for
the government. In a hyper-inflation scenario the government makes more
money due to the tax structure being based upon percentages. Thus, the
government makes more money without having to enact an official tax
increase.
In a free, Constitutional Republic, a very careful balancing act must be
undertaken by government in this situation. The amount of hyper-inflation
that benefits government must be carefully balanced with the tolerance level
of the public for the ever-rising costs of goods and services, or else the
citizens will vote out every politicians who contributed to this dastardly
plan.
The salient point here, though, is that we are headed for a round of heavy
hyper-inflation. We'd better get set.
But this is not the only troublesome area.
Many economists who closely watch the mortgage and housing markets are
saying that we are going to experience yet another major crisis with
foreclosures within the next year or two. The reason? Homeowners will owe
more on their mortgages than their homes are worth on the market. One
economist in particular stated on Fox News that this crisis will not only
prevent a recovery but throw the nation back into a deeper recession or even
a depression.
Barack Obama has stated, on the record, that the U.S. is 'out of money.'
For once in his life, he told the truth. We are broke. Yet at the worst
point in at least 30 years for our economy, Obama and the Democrats wish to
pass a 9 trillion-dollar healthcare plan, just so roughly 10 million
Americans can have some insurance. And to boot, they want a cap-and-trade
plan that will cripple business, decimate jobs, and add $1500-$3000 per year
in extra energy costs to the average American family.
There are only 2 ways that the government can cover the costs of such a
head-splitting load of debt, on top of the debt we already have. One is to
raise taxes. The other is to print more money. Neither solution is
acceptable. If inflation is headed through the roof, how will the citizens
pay for more taxes? If the government continues to print more money,
inflation will only continue to increase.
In short, the Barack Obama plan for the nation is a prescription for chaos.
Some would argue we are already sliding into chaos without the healthcare
plan or cap & trade. Obama and the Democrats have led us to a point in our
history where the very survival of the Republic hangs in the balance. We are
edging ever closer to a precipice, and if we fall off of it the Republic
will be lost.
Obama and the Democrats who control Congress have given us snake-oil
remedies that are leading us closer and closer to that precipice. Perhaps
this is a slight hint as to why the citizens who shout at town hall meetings
are so passionate.
And perhaps this is why the voices calling for a complete change in
Congress, from top to bottom, are growing.
For more commentary on other issues, visit my blog at
The
Liberty Sphere
Steve says:
Thank you for at least getting Consitutional Republic part right. The main
point of the article seems to be the lame old argument that it is all the
Democrat's fault. Let's face it, W and the Republicans borrowed and spent a
ton of money as well
Anthony G. Martin says:
Steve, if you had half a brain you would be able to comprehend that I have
repeatedly stated that I opposed such spending under Bush as well. But under
Obama, just in 7 months, the deficit has at least doubled and the debt has
nearly quadrupled. When are you going to force Obama and the Dems to take
responsibility for ANYTHING?! Huh???
August 13, 2009 Columbia Conservative Examiner
-Anthony G. Martin
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