Americans will be Hoping for Change (buddy can you spare a dime?) for years and years when The Resident finishes destroying our nation I can tell you painting the roofs "White" is not going to save America. Mark my words a very Dark Future is beginning.
Faber guarantees a "Zimbabwe" Style Inflation.
There are now references being made to The Long Depression and that wasn't the 1929 Crash it was the worldwide economic crisis experienced in the 1870's that started with the Panic of 1873. The Residents spending even while he himself says America is broke is going to be the straw that broke Americas Back.
Our AAA rating will soon be gone.
"Under President Barack Obama’s budget plan, the federal debt is exploding. To be precise, it is rising – and will continue to rise – much faster than gross domestic product, a measure of America’s ability to service it. The federal debt was equivalent to 41 per cent of GDP at the end of 2008; the Congressional Budget Office projects it will increase to 82 per cent of GDP in 10 years. With no change in policy, it could hit 100 per cent of GDP in just another five years.
“A government debt burden of that [100 per cent] level, if sustained, would in Standard & Poor’s view be incompatible with a triple A rating,” as the risk rating agency stated last week. "
The Dollar is on its way to being Doomed, smaller Banks that didn't pay the Chi Town way to play are dropping like Flies.
"The world of 2009 has become insolvent and the war of rates is about to begin (8), causing the ruin of all those who invested in Treasury bonds issued by countries incapable of remaining solvent if the rates rise again, i.e. heavily indebted states (or other economic players). "
You can add that to the losses incurred by millions and millions of Americans in their 401Ks and uh oh Social Security is going broke much sooner then they said and where will they work now that our filthy politicians have seen fit to enter into Unfair Trade Agreements like Nafta, Cafta, etc. and The Resident has now backtracked on his promise of reopening Nafta to make it Fair to Americans.
If it were a Game show question - You are broke, you have self serving politicians who entered into Unfair Trade Agreements resulting in the loss of manufacturing and jobs do you...
A. Pay down your debt and save some money for a rainy day? B. Spend like there is no tomorrow and Hope you win the Lottery to pay for it or Tax those who still have jobs to a point where they too are better off quitting and getting welfare themselves until no one is left to pay?
For reasonably intelligent people there would be no question as to the correct answer but for those who have the "Buy a Cadillac Mentality" even though they do not have a place to park it and will eventually have it repossessed when they cannot make the payment, like The Resident we are Doomed to Economic Darkness and hardships and will be for years to come!
I find it Ironic now when I see people lamenting about The Residents policies being unfair or unjust.We should not have bailed out his Banker buddies or the Losers who took the Loans they knew they could not afford to pay back in the first place! I did not want to pay for the Bank Bailout either no more than I want to pay for Poor California (Boo Hoo), if you want to have Hoards of Illegal Aliens overburdening the schools and health systems well actions have consequences and the rest of us in America should not be expected to foot the bill for all your States Stupidity we all have our own filthy politicians stealing us blind to pay for others bad choices including the bad choice of the Smelly One picking our pockets and trying to force all of us to pay for Illegal Aliens!
Had they done a thorough job vetting Mr. Hopenosis they would have found out he was purchased by the Banks and the Elites hell they were the largest contributors even to the Abominations Inauguration and what is that old saying about you can't serve 2 masters? Either he is corrupt
Remember the Y2K scare? Well this will be for real with The Residents policies of bailing out his backers at the Banks and his Cadillac spending Mentality we will have an Economic Eclipse where Darkness will Reign for a period exceeding the Long Depression by several years. I believe this will be the Worse Depression in the History of the World and I advise you to learn all about Survival and go about making plans for the Long DARK period ahead to envision this scenario think Zimbabwe.