Before Ronald Reagan took office, Carter had managed to bungle the economy into 18% inflation. In Alaska, interest rates at local banks were up to 22% to offset the declining value of the dollar.
Obama's messages have had a common note. Things are worse than they have ever been, things will get worse, and the feds need to squander our taxes in ponzi schemes for the inept jerks on Wall Street, at Fannie Mae, Freedie Mac, and in Congress. What he does not say, is that the PRC is not going to buy our debt, which means the fed is printing money, and that means . . . inflation will soon rear its ugly head. One cannot print a $trillion dollars and expect the dollar to be unscathed on the world market.
Inflation is the only certain outcome of the "we gotta throw money at it" and the "quick, we gotta throw MORE money at it!" policy of Obama/Pelosi and the "compassionate conservative" read "appease liberals by out liberaling them in spending" Bush before him.
Inflation is an economic killer. All of us will feel the impact of an inflationary spiral resulting from the printing of more money to promote the liberal agenda and the unbridled growth of government. The price of bread, milk, sugar, gasoline, clothes, diapers . . . everything will go up. The poor and the rich alike will pay more and more and more as prices rise weekly.
In Zimbabwe, a loaf of bread is now a TRILLION of their currency. The government had to print trillion denomination notes. The money is worthless.
That is exactly what your government is now doing. Printing more money and making it worth less.
I remember the Carter years and the last year of Nixon and price controls. Nixon had an oil embargo to deal with. Carter had the aftermath. Worse, Iran underwent an Islamic revolution that resulted in the take over of the U.S. Embassy in Tehran and our embassy personnel being held hostage, 5 dead Airforce and Marine personnel, and a burned out C130 and H53 helicopter left in the desert in the abortive attempt to free those hostages.
Carter's solutions to his economic woes and the challenge by Iran's Islamic regime? Spend more, put on a sweater, and talk. The U.S. was shown to be weak and ineffective in protecting its embassy in Tehren, something that ended with the election of Ronald Reagan and the freeing of the hostages.
Reagan became president and there was hope. Unlike Obama who continually reinforces why bigger government and unbridled spending is necessary, Reagan called for tax cuts and gave reasons why we should have faith in ourselves and the country--not the government. Reagan's speeches continually told us that smaller government was better, and that we could spend our money better than government, that tax cuts meant we would keep more of our money.
Obama just tells us to give more to the government. That the government that made the mess will spend us out of our economic problems.
No. Inflation will be the result.
Inflation will hurt the poor and the middle class more than any.
Obama/Pelosi have us on a course for disaster.
Contact your Congressional delegation in the House and Senate and tell them that you want tax cuts, and you want the spending to cease. Otherwise, things will get worse. Inflation will result, and then we will risk a long term depression.
In the mean time, save your money, be frugal, and use as little gasoline as you have to. The less gas you use, the lower the price at the pump. That was the only "positive" outcome of the high prices we paid this summer.
After all, it is our savings that banks and credit unions use for loan capital, not money from the government. Government ownership of these institutions is just asking for worse yet economically. As screwed up as Washington D. C. is, what do you think will happen to our loan institutions with government ownership and meddling?
What was it that created the home mortgage subprime mess? Pelosi, Barney Frank and Harry Reid and their ilk, with the complicity of George Bush trying to influence the next election by showing that Republicans could out lib the libs. Fools, one and all, and we will pay the price.
Yell at your local governments to cut their spending, and not increase your taxes at the cash register and for your property.
If we do not stop the lies coming from the Whitehouse and Pelosi/Reid, the United States is headed for a socialist experiment that will result in utter devastation of the free market economy and in an over burdensome and oppressive government.
If this idiocy continues, we will see a Great Depression, the depression of Obama/Pelosi.
It is time the Republicans in Congress started calling Obama on his characterizations of the economic situation. And, you and I paid more attention to why no tax cuts and less spending versus more spending and bigger government.