Obama Says, We Will Borrow Money From China To Give To Greece

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A Homeless Family During The Great Depression, Is This What Obama Has Planned For America?

Because of profligate spending and its Socialist policies, Greece is bankrupt. It is now our duty to bail them out, according to Obama, so that they can continue on without taking responsibility for their own actions. Spain, Portugal, and Ireland are all nearing the same economic precipice; are we to assume that Obama plans to put the rest of the world on American Welfare rolls? Someone better tell him, those people can’t vote, but he does believe the Constitution is flawed, maybe with a few changes here and there, we can continue with a Redistribution of American Wealth for the rest of the world, until we are a Third World Country.

Following a meeting with Chancellor Angela Merkel of Germany, he stressed the need for German leadership to help in contributing to keep a failing Socialist EU state like Greece and soon several others afloat. He plans to do this through the IMF, an international bank supported primarily by the US taxpayer. The former CEO had to resign after charges of rape in New York. Unfortunately, the IMF was chartered to help developing countries have ready access to funding for economic development, not to bail out profligate Socialist countries in Europe that have over extended themselves with unfunded debt and generous early pension plans that the US is destined to bankroll. It is hard to imagine how, when our own unfunded plans for seniors are looming over the horizon and threatening us with bankruptcy, we are going to take on Greece and their unfunded debt

President Barack Obama on Tuesday urged European countries and bondholders to prevent a “disastrous” default by Greece and pledged U.S. support to help tackle the country’s debt crisis.

Obama, whose political prospects have suffered from persistently high unemployment and ballooning U.S. debt, has pinpointed the euro zone crisis as one foreign “headwind” hitting the U.S. economy.

“I’m confident that Germany’s leadership, along with other key actors in Europe, will help us arrive at a path for Greece to return to growth, for this debt to become more manageable,” Obama said.

“But it’s going to require some patience and some time. And we have pledged to cooperate fully in working through these issues, both on a bilateral basis but also through international and financial institutions like the IMF.”

A proposal for a second Greek bailout package worth 80 billion to 100 billion euros over three years was taking shape, euro zone sources said.

Merkel is under pressure from the German public not to fund the extravagant profligate programs of Greece and others, with a cryptic and dubious message she stressed that Germany understood its role, but she didn’t say exactly what that role might be. The German people are not as naive about throwing their money away to support countries that are irresponsible.

A View From The Past And Obama's Vision From The Future: The Wrath Of Obama

“We’ve seen that the stability of the euro as a whole will also be influenced if one country is in trouble,” she said.

“So we do see clearly our European responsibility and we’re shouldering that responsibility, together with the IMF.” With U.S. unemployment at 9.1 percent, Obama has blamed outside forces for impeding the economy, including high fuel prices, the earthquake in Japan and the euro zone crisis.

“It would be disastrous for us to see an uncontrolled spiral and default in Europe because that could trigger a whole range of other events.”

With US unemployment at 9.1 % and after 2.5 years, It is hard to blame Bush for the continuing collapse of the economy; he is now pointing the finger of blame at the earthquake in Japan, high fuel prices that he promised us, and the Euro Zone crisis. His answer, as always, is to give them more money.

Obama lays down the law.

“Other countries in the euro zone are going to have to provide them a backstop and support,” he said.

“And frankly, people who are holding Greek debt are going to have to make some decisions, working with the European countries in the euro zone, about how that debt is managed.”

Obama is adamant that Socialist Greece should accept responsibility for its own economic problems, no not at all, they are correct; it is the responsibility of the United States with maybe a little help from Germany to keep the Greek Socialist Utopia afloat, at the cost of the US assuming catastrophic debt and lowering our own standard of living.

Obama also pointed out that once Qaddafi is gone, as a result of as yet unexplained NATO kinetic actions that don’t require Congressional approval and actions that Merkel refused to participate, that there would be a shared responsibility to rebuild Libya. Some of us were hoping that Goldman Sachs might provide the 1.3 Billion they stole from Qaddafi for the rebuilding effort or maybe it would have been better if Qaddafi would have accepted the loss and a portion of Goldman Sachs ownership; he might not be dodging rockets and missiles if he would have agreed to keep his mouth closed about the theft by Goldman Sachs. Now, the US taxpayer will be funding to rebuild a country that will be headed by the Muslim Brotherhood, you know the cousins of the guys we are fighting in two other wars. It might have made more sense for Goldman Sachs to give him his money back, the taxpayer would have avoided the cost of rebuilding an oil rich nation in the future, let’s hope Qaddafi can stay alive until Obama is voted out of office next year.

In a brilliant move by Obama speech writers, Obama made Merkel complicit in the illegal war in Libya by thanking her for the additional German support in Afghanistan, a move that freed up other NATO countries to fight in the illegal war in Libya. Now that was a hard Left uppercut to her groin.

Meanwhile, in the US during 2010, we added $5.3 Trillion in unfunded obligations, bringing our total of unfunded obligations to $61.6 Trillion or $527,000 per household. Unfortunately, that figure isn’t entirely honest since almost half of American households don’t pay taxes. Now that we are going to support Greece and their unfunded obligations and union early retirement pensions, our individual household debt may skyrocket.

Last year’s $5.3 Trillion in unfunded obligations was primarily for retirement programs such as Medicare and Social Security, it is far beyond the new debt taken on to finance the budget deficit. Here is a brief synopsis of our new debt:

Medicare $1.8 trillion in new liabilities, more than the record deficit

USA has record $61.6 TRILLION in unfunded obligations; $534,000 per household…”?The federal government’s financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY analysis shows.

The federal government’s financial condition deteriorated rapidly last year, far beyond the $1.5 trillion in new debt taken on to finance the budget deficit, a USA TODAY analysis shows.

Medicare alone took on $1.8 trillion in new liabilities, more than the record deficit prompting heated debate between Congress and the White House over lifting the debt ceiling.

Social Security added $1.4 trillion in obligations, partly reflecting longer life expectancies. Federal and military retirement programs added more to the financial hole, too.

Corporations are required to list new liabilities, Congress ignores these obligations until its time to write the check.

The $61.6 trillion or $527,000 per household is:

more than five times what Americans have borrowed for everything else — mortgages, car loans and other debt. It reflects the challenge as the number of retirees soars over the next 20 years and seniors try to collect on those spending promises.

“The (federal) debt only tells us what the government owes to the public. It doesn’t take into account what’s owed to seniors, veterans and retired employees,” says accountant Sheila Weinberg, founder of the Institute for Truth in Accounting, a Chicago-based group that advocates better financial reporting. “Without accurate accounting, we can’t make good decisions.”

The federal government handles these unfunded liabilities with simple IOUs. Think about what would happen to the American economy if every household could write IOU on larger cash purchases. Do you see total chaos?

The people who lived through the Great Depression spent a lot of time worrying over the economy. Our period of worry hasn’t started yet.

A professional horseman for over 40 years, Skook continues to work with horses. He is in an ongoing educational program, learning life's lessons from one of the world's greatest instructors, the horse. Skook has a personal website skooksjournal.com featuring his personal writings and historical novel type stories.

54 Responses to “Obama Says, We Will Borrow Money From China To Give To Greece”

  1. 51

    James Raider

    Skook, this is the biggest challenge facing us, and it may no longer have a solution. As you rightly point out, the $60+ trillion in unfunded commitments are looming. What economy can possibly support this?

    Meanwhile, China is rapidly making up for lost time on its military build up to counter America’s, having invested the trillions we have sent it over the last 25 years, into submarines, and now a new Aircraft Carrier.

    The money China is spending, is all of the cash that was borrowed here, primarily through 1st. and 2nd. home mortgages, that few could really afford.

    In the meantime, Obama’s expertise on the subject, proclaims that there will not be a double dip recession. This liar doesn’t comprehend what the term recession means, or what constitutes an “economy.”

    All this, as Iran is now only weeks away from Nuclear weapons capability. Obama gave away the only negotiating tool we had against Russia, which is aiding Iran. He aggravated our Polish allies in the process – one of the few remaining democracies in a world leaning fast toward dictatorships.

    This leader has been and is a disaster.

  2. 52

    Nan G

    The way the EU works, if I understand it correctly, there is NO WAY to bail out a single EU country.
    Any money you give an individual EU country gets sucked away by other EU countries it owes money to!
    IF Greece quits the EU it may be saved.
    But if it sticks with the EU only a small amount of bailout money will end up in its own coffers.

  3. 53

    Skookum

    author

    JR, can anyone suffer from such myopia or is this an intentional effort to break America’s wealth. It’s true, he is a dedicated Socialist ideologue and is probably absolutely convinced that the only reason Socialism failed in the past was because they didn’t have enough funding or a dynamic economy. Does he think that it is impossible to break this economy?

    There is only so much anything can take before it breaks. We are fast approaching that point. Obama will probably be upping the ante over the next 17 months; especially when he realizes, reelection is hopeless.

    JR, what do you think of the coincidence of the disappearance of Qaddafi’s money by Goldman Sachs (Obama’s Own) and Obama’s decision to kill Gaddafi. I have no compassion for Qaddafi, but I resent Obama using our military like Chicago thugs and playing us for chumps, so he can protect Goldman Sachs from charges of malfeasance.

  4. 54

    Skookum

    author

    Nan, that means we will need to pay the bailout by 15 times to be sure Greece gets enough money for the bail out. Of course they will need to bailed out every year or two unless these change their policies. This going to be very expensive after we bail out Spain, Portugal, and Ireland. Better be cutting back on groceries and buy a bicycle.

  5. 57

    Nan G

    Greece joined the EU in 1981.
    From then on it was subsidized so that per capita income averages $30,000/year. (We don’t have that!)
    But per capita Greek productivity is nowhere near $30,000/year.
    So, eventually, Greece went broke.

    It took bailouts based on a promise of austerity measures.
    But it did not pass any austerity measures.
    People retire in Greece at an average age of 52. (We do not do that!)

    Obama is a welfare-is-the-answer kind of guy. (We are NOT!)
    Greece needs self-discipline.
    It would help Greece in the long run to allow it to default.
    But Obama loves the idea of bailouts.
    He will be ”loaning” money to a state with a credit rating equal to Cuba’s!
    (Thank goodness our banks would not do that!)

    Obama doesn’t want to go it alone in Greece, so he presses other countries in the EU to continue to bailout Greece.
    But they are reluctant.
    EU countries are pushing for PRIVATE investors to do these loans.
    Obviously, Obama looks at bailouts as the answer.
    And if it sort-of worked for the auto industry, it just has to work for Greece, right?
    Obama is an idiot!

    BTW, doesn’t CONGRESS have the purse strings in the USA, anymore?

  6. 58

    J V Hoffman

    King Solomon had the “Song of Songs”…… Obamination has the “Insanities of Insanities!” (His Economic Plans) One of them was the wisest man in the world the other is the biggest Idiot that became a leader! You figure which is which!
    Skookum this is a very good write up! The only thing I can say is that in my recent travels in the last year to Jordan, Bahrain, Panama, Colombia, Peru, and Holland I have made two basic observations:
    1. Regardless of what nationality of people you transact business with they all without reserve, all think that this Administration is on the verge of collapse. And our government cannot be depended on because we change directions and policies more than the wind changes directions.
    2. For a good while the Chinese have been selling the promissory notes they hold and the Russians have just recently joined in as well. They are all holding their breath because the Euro has yet to have a true declared balance and this situation may force them to do so……..and in essence this could also cause devaluation to the Euro as well!
    Europeans will forgive many things, but they will not forgive a shared loss because of the budgetary blunders of an Idiot! We are not far from this happening. In fact as we speak there are many of the Gulf State Region Royal families who are vigorously changing there Dollars for Euros. They believe that even if the Dollar collapse will affect the Euro, the Euro will not lose near as much as the Dollar.

  7. 59

    another vet

    Add to this a just released CNN poll stating 48% of Americans believe that it is likely we will be in a depression within the next year and we have some major problems. With that type of pessimism it will be very difficult to straighten out our own mess even though that pessimism is probably well founded. We are falling apart from the inside. How’s hope and change looking now?

  8. 60

    Skookum

    author

    JV, That is a sad condemnation of the US. For the first time in history, people are betting against the US dollar. The more people unload the dollar, the harder it will be hit on the international monetary market. Stand by for inflation.

  9. 61

    Skookum

    author

    Another vet, there are more peep unemployed now than there was during the Great Depression. There are just programs to keep them from hitting the road and living a homeless existence. Otherwise the Civil unrest would be enough to make the future of this country be in doubt. People who watch their children go hungry get mad and desperate.

    Unfortunately, caring for our unemployed and millions of illegal aliens and imported legal welfare recipients has reached the tipping point when compared with the entitlement programs around the world. Printing money will break the confidence of the rest of the world and possibly producing hyper inflation similar to that of Argentina when people needed a wheel barrow of money to buy a loaf of bread.

  10. 63

    Poppa_T

    Very nice article Mr. Skookum however I think your numbers are off. I believe our actual unfunded debt liability far exceeds 61 trillion. In a speech to the Commonwealth Club of California on May 28, 2008 Richard W. Fisher, president and CEO of the Federal Reserve Bank of Dallas said that “…No combination of tax hikes and spending cuts, though, will change the total burden borne by current and future generations. For the existing unfunded liabilities to be covered in the end, someone must pay $99.2 trillion more or receive $99.2 trillion less than they have been currently promised. This is a cold, hard fact…” the 100+ trillion dollar figure is repeated here and goes up here.

    So unfortunately, the optimistic and rosy picture you paint may not be accurate.

  11. 64

    Skookum

    author

    Poppa, I thought my figures would not be believed:

    So unfortunately, the optimistic and rosy picture you paint may not be accurate.

    The figure approaching a hundred trillion is sobering indeed. Do you have links? I want to follow up on this. Those of us who actually work can forget about retiring. Hell we can’t afford to die and he wants to spend more money.

  12. 65

    another vet

    @Skookum: Even the Ragin’ Cajin, James Carville, brought up civil unrest the other day. In addition to the high unemployment (half of which goes unreported) and the other issues you brought up, there was that survey released yesterday finding that 1/3 of employers are going to be telling their employees no more healthcare benefits in 2014 should Obamacare go into full effect. People will eventually reach a breaking point and it won’t be pretty. It’s either planned, blatant incompetence, or a combination of both.

  13. 66

    Nan G

    @Skookum: Those of us who actually work can forget about retiring. Hell we can’t afford to die and he wants to spend more money.

    I’m guessing you already know about how Obama is putting a finger to the wind with regards doing away with the tax incentives that make saving within a 401(k) or some other tax-advantaged retirement plan attractive in order to cut the deficit?

    There used to be about a 25% saving in taxes to defer some income to later years when you are earning less.
    But that ends if Obama has anything to do with it.

    Of course this is unlikely to work, but hey!, Obama wants as much of our money as he can get….as soon as possible.

  14. 67

    Skookum

    author

    Another Vet, here is the deal for people who actually work and don’t have Air Force One and helicopters to fly them around, all expenses paid. The cost of living is on the rise and to ask for more wages or for businesses to raise their prices is very dangerous. Many people like myself are just praying to survive Obama without losing everything at this late stage of the game.

    A young man full of pride and integrity with several ankle biters at home will see his health care dissolve and no way to buy health care on his own. People are already repairing old cars rather than buying new. Who wants to take a chance on being repossessed. Thus Obama’s Utopia begins slowing down more and more. He says the businesses need to hire more people, but why hire people if you can barely keep the doors open. Obama doesn’t have solutions, he is the problem.

    I expect to see civil unrest this year. I remember the riots in Watts and Detroit, those were race riots and they happened, yea OK. If you watch those MMA fighters, you will see the anger of White men when their kids are starving. I think we are going to see trouble like this country has never seen in its history. I hope I am wrong, but push these White men against the wall and starve their kids and you will see riots and mayhem.

  15. 68

    Skookum

    author

    Nan, you run a business and you know that he can begin to work on the tax rules to strangle businesses. He hates us and wants us following him for chump change and crumbs. He is planning to kill us slowly, until we need to beg a union pimp for a job. We can not survive another four years of this man-made disaster.

    Cain, Palin, or someone else, give me a candidate that can win and get this country running once again!

  16. 69

    Nan G

    @Skookum:
    Hubby runs the business.
    I’m retired.
    Obama made it unprofitable to allow the business to grow to even one person over 50 employees.
    Hubby is planning on closing up shop in the next three years.
    IF certain persons leave, it will accelerate that timeline.

  17. 70

    KansasGirl

    This is exactly what intelligent conservatives knew would happen. This man and his minions are a scourge on this country. My concern is, will we allow the destruction of America. We’ll see soon enough.

  18. 71

    another vet

    @Skookum: Sorry to say you are probably right. As of now, he is the ONLY President I’ve lived and worked under whereby I am worse off than before he got in office. Unfortunately that scenario probably applies to a lot of people who have led PRODUCTIVE lives (i.e. worked, served etc.) and have contributed something to society.

  19. 72

    J V Hoffman

    This is what my beef with the Republicans is that they are laying in bed with them! How can things continue as they have? We need to get men into office that have not been contaminated by the DC crowd! We need a complete change out of the guard!!!

  20. 74

    J V Hoffman

    Look At this!!! In light of all that is written here intelligent and Educated people… Look at what CNN is propagandizing again!!!!!! This was on News Max:
    Personally I think they must have been polling cows and not people! Because I hear people all over the US including long life Democrats who don’t want anymore of this idiot!!!
    CNN Poll: 75% of Americans Approve of Obama Personally
    President Barack Obama retains strong personal appeal even as his overall job approval rating has weakened.
    An overwhelming number of Americans — 75 percent — say they give President Obama a thumbs up regarding approval of him as a person, according to a new CNN/Opinion Research Corporation poll released on Wednesday.
    CNN notes that “Obama’s strength remains his personal appeal” and adds that a “plurality of Republicans” also like him personally, though their positive views of the president are apparently trumped by economic jitters.
    “Obama’s approval among Republicans spiked after bin Laden’s death, and no one expected it to stay that high for another 18 months. But the White House is probably worried more about the much smaller drops among independents and even Democrats. Those shifts are likely due to concerns about the economy, particularly unemployment,” adds the CNN pollster.
    In the new survey, only 48 percent of respondents say they approve of how Obama is handling his job, down 6 points from late May, while 48 percent say they disapprove, up 3 points from late last month.
    Considering economic worries, including unemployment, gasoline prices, and the federal deficit, Obama’s poll numbers appear strong compared to previous presidents during bad times.
    Presidents Reagan and Clinton, both viewed highly favorable in polls today, hit approval lows of 35 and 37 percent, respectively, during their presidencies.
    President George W. Bush left the White House with an approval rating of just 22 percent, among the lowest for any president since polls have been conducted scientifically.

    CNN = Communist News Nerwork!!!!

  21. 75

    Skookum

    author

    JV, I work for many card carrying Liberals and if they are even half way lucid or own a business, they are saying Obama needs to go as soon as possible. Unless they rig the poll by polling in an area that would elect morons like Waters or Pelosi, they couldn’t get those results, impossible from what I’ve seen and heard.

  22. 76

    James Raider

    @Skookum: #3,

    Skook, you’re raising some of the more perplexing questions which I’m fairly sure you feel belong in the bin of the impossible, . . . as in, how could this possibly be emanating from America’s sacrosanct Oval Office? . . . and I empathize with your conundrum, because the intellect just doesn’t want to accept an “intent” that fits either the actions or the results. But actions from this man are aplenty, and results are evident and also plenty.

    He doesn’t seem to have any vision of the world outside his reflection in the mirror. I just don’t see him as having a grand scheme for America. I think he’s still the community rabble rouser using union tactics, but now on a grander scale. For example, he is clearly incapable of demonstrating any caring for others, . . . look at the way he deals with victims of disasters. He could care less. Give him a speech on a teleprompter, or he’s lost.

    He can smile for the cameras, and act Mr. Gladhander, but don’t ask tough questions – he can’t answer them, and if you poke, he’ll throw a tantrum. The mantle of Narcissism fits swimmingly well on this guy. He’s too inept to have come up with a scheme to screw America – on the other hand his “handler”Jarrett, is the one who is in IMHO, very dangerous. That doesn’t mean that he doesn’t hate America, but he is neither inquisitive enough, nor cares enough, to purposely implement a long term grand plan. I think his long term plan is to be in the White House for 2 terms, which guarantees him a few hundred million dollars, copying Slick Willy’s jaunts around the world feeling grand.

    Goldman Sachs – They are brokers with egos that are unmatched in insecurity. The last horse you rode had more security than these clowns, and dare I say, a barn full more integrity. How they have been able to manipulate Washington is masterful. Given that they have people like Geithner and Bernanke positioned appropriately, there’s not much they can’t accomplish. They very effectively corrupted a long list of CEOs managing America’s largest companies, . . . the examples are endless, but one which annoys me particularly is eBay’s former CEO, Meg Whitman.

    I’m also convinced Goldman would happily sell out America if it made them more money, as they seem to be doing in China. I don’t know how exposure you’ve had to the hard assed Wall Street types, but they’re ruthless. This “little” Gaddafi episode will soon be forgotten, and it will not be the first time a brokerage firm will have profited from an untimely passing. Think of all the hundreds of thousands of Offshore accounts (Switzerland is an expert in the art) which put billions in the personal pockets of bankers as time passed, and account holders (owners) passed away. Big and small, guys like Goldman “buy” heads of funds as well. Take Madoff, for example, . . . he didn’t operate in a vacuum. He had “legs” and none of those legs, hundreds of them, will see jail. It’s done from New York, to Geneva. No oversight can reach those exotic corners of the financial world.

    Proof is difficult to nail and charges hard to crystallize when the Attorney General is in the bag, and charges are additionally hard to come by particularly when you have effective control of the Game as Goldman does.

    Here for example is the kind of very serious abuse that China is subjecting American companies to: Testimony of James Fellowes Chairman and Chief Executive Officer, Fellowes, Inc. Before House Foreign Affairs Committee – March 31, 2011.

    . . . . Outright theft of American intellectual property, assets, and cash – in the hundreds of millions, by one of China’s most powerful families. The Administration should be pissed at China for this. Yet it goes on, each day, and we’re still pandering to the Chinese. There is not a single person around Obama who has a clue about how to deal with this kind of abuse. They just don’t understand.

    In the meantime, the dictators around the globe are laughing at Obama, Cameron, Merkel, Sarkozy, particularly Obama – hell, even the Europeans think he takes himself way too seriously and is a wimp, although Cameron looks like he’s just happy to be alive and isn’t the brightest star in the firmament.

    America will realize before the next Christmas parade hits the streets, that ANY NEW FACE in the White House, will be the only way that further economic damage can be mitigated. Americans will tire of watching their Golfing President on monitors, while they’re standing in line at the bank waiting to negotiate “work outs” on their mortgages and lines of credit.

  23. 77

    J V Hoffman

    @James Raider: James I enjoyed reading you comments and presentation of facts, however I think the scope of Skookum is to open the door to show people just how far we are down the road of destruction. If you know enough to present the things you did then you also we are only looking at a couple of bricks in the wall of the whole house! I runs deeper than the average conservative mind can even comprehend. I have worked on both sides of the fence both for the DOD and for another Government of which I am also a citizen. Nothing short of a change of guard will get the job even moving in the correct direction, and I do not mean the Republicans either, a real change of Guard!
    We are literally so far out that if you were to try to lay all the facts before the public they would only believe it after a total collapse!
    You are absolutely correct in the aspect of dictators and terrorist countries who are waiting to serve us on the grill! But worse that that the Idiots have succeeded in alienating every allied country we have every had! The foreign policy of this administration is very simple… Pay all of the terrorist States to be our friends and stab in the back any country who aligns with past US policy (Conservative US policy).
    I honestly pray everyday that something will happen to completely expose the evils of these people in a way that it will be irrefutable to the point there is nothing to say!
    Because the average US citizen has become as a sheep and is rocked to sleep more and more each day by not only the Democrats and Republicans with the help of the news media to the point that they may only wake up in the face of total disaster…most likely terrorist in your front yard, and possibly in uniform if we cannot stop it fast enough!

    I can assure you Obamination is only a puppet, the road map is being drawn daily with even other world leaders involved! I mean honestly the idiot can not even say more than 10 words without Tele-prompt script or reading cards… In my own personal opinion he could not pour piss out of a boot with the instructions written on the bottom of the sole!

  24. 78

    Skookum

    author

    JR, I read a synopsis of that report somewhere in my cyber travels. I should have read the whole report. Several years ago, I talked to a customer who was manufacturing pencils in China. Everything went well until the Chinese decided the pencil factory would be more profitable if they own everything. Not exactly a high tech industry, but a money generating industry. He said the government was complicit and there was nothing he could do to get his company back.

    Yet our Narcissist in Chief can only gush at the achievements of China and how wonderful they are.

  25. 79

    J V Hoffman

    @Skookum: Just an observation Skookum, I have a business in International trade and I have seen things you just don’t see here bouncing from State to State and I notice that we have a number of intelligent people who are very knowledgeable in the Economy here in the US/Canada scenario……..However what about the US verses International Economies…….where is the Dollar in relation to other currencies? The Liberals with great determination are oblivious to this factor!
    There are multiple comparisons of where the dollar is and was over the last 20 years concerning our economy…However Whenever a Democrat gets in office our currency go to hell in a hand basket on the international market! And that my friend can only be changed by the international trade of the Dollar! The Liberals are always quick to compare the “Bush Administration” and Reagan’s “Reaganonmics” but they seems to be totally blind to the most important safety that has to maintained! The international value of the Dollar! Under Reaganomics the US Dollar soared until the point that many countries even switched from their own currency to writing mortgages and commodities only in US Dollars!
    When Bush was in office this was done in a half ass effort and the United States suffered much less inflation than most all of the European nations, Africa, and South America. India and China remained strong. This was even after the insane “give- away America’s industrial complex” of the Clinton era!
    Now under “the genius” The professor of all professors” ( I say that because even the worst idiot or even a first year economics student has better sense that to do what has been by him!) the USD has fallen more than a sky diver with 50 kilos of lead tied to his ass! Never mind the fluxuations that we see here! although when a can of beans that cost me 59 cents tow and half years ago and now the same can is a $1. 49 …I am supposed to believe my government that this is only 15% inflation, or if I get one Tomato for the price I used to buy 5 for. I must have slept through that part of math class in school??????
    Anyway gentlemen! If you really want to know where we are getting our guts pulled out by the “America haters” our dollars have dropped more in potential buying power and value over the last two years than it has in the last 30 years…..since the peanut farmer!
    Now thanks to the policies of the “white house playboy” we have giant amounts of promissory notes still floating out there that the US citizen would lose his dentures if they knew how much is still standing! When do you think most of those promissory notes were issued??? guess! Because now all of the little stray kittens are coming home to eat!
    One of the big contributors to all of this is our State Departments that is being operated now like a Nymphomaniac turned lose in a sex toy store with a new no-limit credit card! I will only guarantee you one thing! What we are looking at now is one thing and what is waiting for us in a few more years will be even more devastating! When we think we are about to climb out we will find ourselves attacked by the very actions of Jihadist Hillary and Obamination!!!! This thing is not like frying an egg! It takes a while to fester, you know kinda like gangrene!
    We are deeper in than we can even imagine!!!! When I look at the statistics that are made available to us it makes me feel like a blind man setting in a chair in the same room with other people having sex around him and trying to figure out how it really feels while not having any ability to touch the issue!
    HAVE TO CHANGE THE GUARD!!!! EVERYBODY THAT IS IN NOW ARE PARTNERS TO THIS!!!!

  26. 81

    Skookum

    author

    Excuse me, Poppa, I was reading the comment from my mail and didn’t realize the links were in your message.

    My mistake, thank you for being patient with me.

  27. 82

    J V Hoffman

    @Skookum: Ya Know Skookum that Poppa T is a straight shooter, I like the way he writes! He is an asset to FA! In fact I enjoy that there are several “good men” here who know how to keep on the trail without being distracted by the ravens and smoke! (ie. rantings and judiciary and political BS!)

  28. 83

    Poppa_T

    @J V Hoffman: Thank you for the compliment JV, I am just an old jar-head and a rednecked country boy so high praise like that just makes me happier than a baby in barrel of tits.

    But seriously the quality of the writers and the relevance of the content on this site are amazing and are what has drawn me and so many others here again and again. Thank you all for all the work you do.

  29. 84

    Skookum

    author

    JV, I love all the people in our military, but there is something about these Marines that can’t be denied.

    We have a colorful cast that can bring a tremendous wealth of knowledge and experience to the party.

    Poppa, don’t be shy about writing a few paragraphs and submitting them to Curt, include a picture and relate it to Conservative philosophy.

  30. 85

    johngalt

    @John Cooper:

    I have often said here that seeing the movie Atlas Shrugged is not necessary in order to view a live portrayal of the book. Just read the headlines of the news happening today and you will get your “movie” for less than the $10 dollars or so it costs to go to the local cinema now.

  31. 86

    James Raider

    @Skookum: #10,
    “Stand by for inflation.”

    Back in early May of 2008, well before Obama was given the keys to the Oval Office, I wrote a piece 44th. PRESIDENT – YOUR FIRST CHALLENGE, which underlined my feelings that the single most important thing the new leader would have to educate himself on was “Inflation.” If I had been his counsel, I would have directed him to hide in a room at Camp David for a month, and learn.

    Understanding Inflation even vaguely, provides much insight. Evidently, Obama has little interest in learning anything. The image he sees in the mirror already knows it all. The abject stupidity that surrounds him, including Geithner and Bernanke who were part of the crowd of fools who brought us this economic mess, has no idea what to do, and the boss doesn’t care – Airforce One awaits for a flight to another teleprompterred stump speech.

    The vast swath of the country which still supports this incompetence, also does not understand that the only thing which the world’s dictatorships fear, . . . is Force and Strength. China, Russia, Iran, Venezuela, Saudi Arabia, Syria, etc., etc., give not an inch to a wimp, and as we are seeing, piss all over his leg.

  32. 87

    johngalt

    @J V Hoffman:

    This is what my beef with the Republicans is that they are laying in bed with them! How can things continue as they have?

    Many people realize this and are talking about it. Even some of us here, although in some cases the commenter is a bit rude and abrasive in his comments. The GOP leadership is nothing more than a ‘lite’ version of the progressives who are mainly in control of DC at the moment. The fact of the GOP gaining the house has done nothing for the conservative movement, as the real conservatives in the house are marginalized, or even completely ignored, by the leadership, who puts out plans designed not for the betterment of the country, but to offend as few as possible, and in so doing, their legislative efforts result in little more than a slowing down of the bus Obama is driving off the cliff, with all of America onboard.

  33. 88

    James Raider

    I’m awaiting the inevitable moment when the narcissism becomes undeniably evident in a random moment, as the walls of adulation protecting this fragile President crumble.

    . . . Then the Nation can get on with finding leadership.

  34. 89

    James Raider

    @J V Hoffman: #8,
    “. . . . the Euro has yet to have a true declared balance and this situation may force them to do so……..and in essence this could also cause devaluation to the Euro as well”

    Europe’s biggest economy is slowing. Germany’s economy has been the foundation of the Euro, however, its exports are slipping and trade surplus shrunk to €8.8 billion in April from €19.6 billion in March.

    . . . . The world’s Debt Bubble is straining.

  35. 90

    James Raider

    I should have included more dictatorships above, . . . like Gabon, headed by Ali Bongo, a slime bag welcomed in the Oval Office. Obama’s stupidity knows no bounds.

    Bongo is the guy Hillary thanked for leadership on the world stage in March of 2010.

    . . . Progressives are making America proud.

    Keep pandering to thugs like this, and pretty soon sh**storms accelerated with nuclear arms flow in the wind.

  36. 91

    Joebanana

    Which part of the constitution gives the president the power to distribute public funds as he see’s fit? I thought there were laws against such things. And something we don’t hear much about on the news is that Obama has been committing treason since he’s been in office. Article 3 section 3 of the constitution say’s waging war on the states or people is treason, the war on drugs has continued for forty years, many innocent American’s have been killed in this war. Most recently a Marine, a veteran, a man who put his life in harms way for this sick twisted country, with it’s criminally insane government. Obama’s “birth certificate” posted on the web, is so phony, it’s pathetic. It no longer matters where he was born, he’s committed a felony now, fraud, impersonating a president, if this isn’t a national security emergency, what is? I’ve always said he’s a Mossad operative, I may be right.

  37. 92

    J V Hoffman

    @Joebanana: Joe Banana how could anyone make so much sense yet make such any empty minded comment! How could Jihadist like Hillary and Obamination be Mossad agents?..If Clinton had listened to the Mossad 9/11 would never had occurred .. more so there where 24,000,000 Islamic that came into the United States during the Clinton administration and it is happening all over again! If you want to believe the sorry ass Aryan propaganda go ahead! But both they and the liberals are blinded and consumed by their hatred! The fact is if you had any knowledge of national security the Mossad has bailed out the sorry intelligence we have over and over! And Obamination is the prime world figure enemy of Jews, Israel and any thing that opposes his lunacy! Yes, he all that you said and much much more…which the near future will expose!

  38. 94

    johngalt

    @jorgy porgy pie:

    do you even know how to read? obama didn’t pledge money to greece.

    From CNBC;

    Obama Presses Europe, Pledges Help for Greek Crisis

    …………………….
    “But it’s going to require some patience and some time. And we have pledged to cooperate fully in working through these issues, both on a bilateral basis but also through international and financial institutions like the IMF.” – President Obama
    …………………

    http://www.cnbc.com/id/43321461

    Is that not pledging money to Greece?

  39. 95

    Justin Alias

    About that “Half of all Americans” who pay no taxes:

    That was in 2009. The Tax Recovery Act of 2009 gave 47% of single filers (not all Americans) a break that year. Sorta like the tax rebate we received during the Bush administration, except rather than collecting the money, figuring out the rebates, and then writing out and mailing the checks, they trimmed the process down by not collecting the money in the first place. In fact, according to the Tax Policy Center, 84% are currently paying taxes, and the remaining 16% are mostly elderly and disabled. Do not forget, if you make more than $600/year, you pay federal income tax. That’s the law. It’s called “federal withholding” look at your W-2 form. We all pay federal income tax.

    Those are the facts, but here’s the “spin” (aka “lie”) by Yahoo News in 2009-

    http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0&.v=1

  40. 96

    lenora

    @Nan G: THIS IS WHY WE HAVE TO CLEAN HOUSE IN WASHINGTON IN NOVEMBER. WE CAN NOT LET BARACK OBAMA BE REELECTED IN NOVEMBER! HE IS TRYING TO DISTROY OUR COUNTRYAND IF HE MAKES IT BACK INHE WILL SUCCEED.

  41. 97

    Richard Paul Dembinsky

    To those above who have smarter things to say and opinions too:’

    I am stupid and can prove it.

    (I voted for President Obama twice and Ronald Reagan twice) and Richard Nixon once.

    Conclusion: It does not matter President Obama seems to have had a good week and I am NOW of the Opinion that the USA while in trouble will not repeat the Great Depression; the people are able to do things and the government this time will act.

    Greece YOU understand better than I but rest assured Americans are NOT going down the Depression Road; So if we have a debt of $20 Trillion who cares; printing money will pay the debt especially since interest rates are going down rather than jumping higher. With amount zero interest; we are still paying for WWII and the Space Program , Eisenhower’s Interstate system plus Medicare and Obama care….

    REALLY, I glanced at this article and believe it is totally off base: true Puerto Rico is having major financial trouble and having visited there on a cruise in the last few months I am very concerned that this problem could impact the USA mainland but sooner or later it will be resolved. How I don’t know but it will NOT be President Obama;

    Lets Pray that the next Great President helps someone.

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