His Royal Highness, Oba mama is now hobnobbing with the world elite. Trying to figure out how to beg our way into the good graces of European losers.
(Does bowing to kings make our President a loyal minion or simply showing his foreign upbringing? Yes he bowed!)
We conquered their sorry asses back in my dad’s day and spent trillions rebuilding them in our image. Then we went ape shit and gave these clowns their political independence and tried keep them under economic control with our dollar.
This plan, however, started unraveling under Nixon, who fearing a new depression took us off the gold standard and began the long road of inflationary expansion.
Too bad for this plan brown people wearing towels on their head decided to join the 20th century, wasn’t it?.
OPEC came into existence to make war on us by restricting the supply of oil. This in turn generated government firing up printing presses leading to the Jimmy Carter disaster of 14% inflation and interest rates after the Iranians threw out our hand picked dictator.
Leading up to unrestrained borrowing and spending because nobody could get elected in this country by constraining spending or raising taxes to maintain a stable currency.
Now the shit is hitting the fan but hopefully this is the big one. If not there won’t be anyone left to bail us out next time. One thing we have to worry about is we need to change our ways and build stuff to sell and balance our trade deficits or our middle class disappears.
But not with our luck. It’ll come when we can’t finance an extra 50 or 60 million people on Social Security and need to borrow a few trillion for Medicare.
We need miracles in a hurry. Maybe Jesus will come and fix it for us?
Yes, this could be the dark ages. Will you and I live long enough to see it? After all boom and bust because of borrowing and printing of money has always lead to “regime change”, war and anarchy. And we can keep it up for a long long while.
Time will tell. (What will Oba mama kiss when He grovels in China).
Read what this guy has to say:
What if an American President campaigned as a pragmatic centrist, promised tax cuts to 95% of the American people and pledged himself to a new era of government honesty, openness and bipartisanship, but never had any of those intentions? The result might be a cabinet full of tax cheats, political cronies and lobbyists, and a president peddling an overstuffed budget of liberal dream-schemes at a time when the American economy can least afford an extra nickel for folderol or fiddling.
Meanwhile Rome is burning.
President Obama rolls the dice and grabs a can of kerosene.
This president’s budget, plus the Faux Stimulus monstrosity, plus the TARP bailouts all add up to the biggest, most irresponsible spending spree in American history. Yet, according to some of the best and brightest economists on the planet, these schemes are built upon overly rosy expectations, will do little to stimulate any economic growth and promise to punitively tax the very people and industries we need to provide investment capital and jobs to actually create the pie from which all these liberal cherries are to be plucked.