The winds of war continue to swirl around our economy and currency. Standard and Poors, while maintaining America’s Triple A credit rating, downgraded the outlook for American debt to negative. That means there is a one in three chance that Standard and Poors will downgrade the credit rating of the United States within the next two years. It will destroy the American economy.
Simultaneously, the BRICS nations (Brazil, Russia, India, China, South Africa) met in China last week and are currently devising a transition plan to replace the dollar as the world’s reserve currency with the Chinese yuan or a new currency based on a basket of currencies. If this happens, the cost of gasoline will double overnight, if not by more. The prices of imported goods in Walmart will shoot to the stratosphere. If you don't think this can happen...just watch!
This is scary stuff, and well within the realm of possibility as Obama and his band of merry academics continue down the path of "print and spend" money. In case you don’t know it, the reason why interest rates are so low is that while the Treasury Department is selling American bonds, the Federal Reserve is printing money to buy them. We are buying our own debt. When the Fed stops printing money, interest rates are going to go up fast and furious.
What is even more disturbing is that the Obama apologist press is completely ignoring the magnitude of the problem. Turn on CNN and NBC, you will see stories about race, gay rights, and this past week…last year’s horrible oil spill and the effects on the gulf coast and those evil, evil oil companies.
They are not reporting on the United States funding deep water off shore drilling off the Brazilian and Columbian coasts. They are not reporting about the currency issues. They are not reporting on Energy Secretary Steve Chu’s statements in 2008 that the cost of American gasoline needs, and should, double to equal what is paying paid in Europe. That would be $8.00/gallon.
I am absolutely stunned at the number Obama apologists that permeate the media and report on anything and everything other than the policies of the current administration. These are serious issues. The price of gold passed $1500.00/oz. this past week. That is just a small sign of the economic trauma that this nation will face unless it gets some sanity to its monetary and fiscal policies.
At the end of the day, we are faced with an administration that still treats global warming as a religion. They are internationalists that do not believe in doing what is best for this nation. They are acting as fanatics dedicated to environmentalism and their perception of social justice. The economic well being of the country is secondary, and they have a huckster in the White House fooling the public.
Obama has a great smile, a lovely family, and is a wonderful speaker…and thinks that spoon full of his Obama sugar will make his medicine go down easy with the public. Don’t be fooled. You will see economic turmoil like you have never seen your lifetime. There's a hurricane a-comin'. Pay attention folks.
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