Quote:
Originally Posted by TropicCat
After 8 years of Bush Policies? As usual, we disagree.
The Republican problem goes much deeper than you've indicated. I've seen the polls as I'm sure you have, that show that Americans identifying with the Republican party has slipped to 21% in April. Republicans are running moderates out of the party and what's left are nothing more than Rush ditto heads and fundamentalist Christians. If the trend continues and the fundamentalists bail, Rush's boys will be the only votes cast for the remnants of what once was a responsible party.
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It is a relief to be rid of Bush, to be sure, but we still have the Bush mentality astride America. We still are in Iraq and we are there for good, too, as Obama's administration finally has admitted. Any Iraqi troop drawdown will be sent to Afghanistan, where we actually are expanding the war, not to mention north Pakistan where America now is conducting extensive bombing, as well. Gitmo still operates. The Bush doctrine of pre-emptive warfare lives on. Domestically, personal liberty shrinks daily while the Department of Homeland Security operates more and more like the new Gestapo.
W's tax and spend has become TAX AND SPEND under Obama. We have gone beyond simply saddling future generations with debt to be repaid for our current profligacy. Now America has sailed into uncharted (for her) waters by assuming debt that clearly never can be repaid. Debt that will bankrupt America with even a nominal increase in interest rates, in fact.
During the next four years, trillions more dollars in bailouts will be coming. Call it Obama's "Newer Deal," since he views himself as FDR II.
What's more, the amount of formal government bailout money will be, as today, dwarfed by the money stealthily created by the Federal Reserve Board, the beneficiaries of which they refuse to divulge, though the debt thereby created is hung around our necks.
Huge Federal spending deficits are in the offing, folks. As far as the eye can see. As a result, US bonds will be downgraded and interest rates will be forced up, thereby pushing deficits even higher, causing further bond downgrades and even higher interest rates and so on. You get the idea. Ultimately, the dollar itself will fail in a storm of hyperinflation, to be replaced by currencies that our erstwhile masters fancy themselves capable of more closely tracking (and more thoroughly take a slice of, every time it passes "Go" ). The Amero has been suggested for the coming North America Union.
Price inflation now is cooked into the world economy's cake, the inexorable result of massive fiat monetary creation by all World governments, including China's. The U.S. doubled its own monetary base in 2008 alone, though GDP declined by about 5%. While America's price inflation was a "mere" 15% in March (because bankers put their bailout money beneath the banks' mattresses for the time being), I foresee 20% by the end of 2009 and 30% when 2011 rolls around. 2012 should see at least 100% price inflation, with true hyperinflation then redefining the word inflation for all of us. Think not? Then consider this simple fact: food prices have doubled in the last three years alone.
We have laid the groundwork for inflation akin to that experienced by Germany between last century's major wars - what is known as Weimar inflation. In the process, America's entire middle class will be dropped down to the poverty level. We have no more than another three years, in my opinion, before the real financial troubles grip all of us.