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Based on the last four years you have spelled out what is coming our way. Folks don't want to believe it because they think their savior will be there. We'll see how this debt thing goes down here soon. If the credit rating takes another hit look out.
The euphoria of this result will be short lived indeed as the weeks and months ahead unfold. All kinds of bad news that's been hidden under various rocks will start to bubble to the surface.
Blaming stuff on Bush won't fly at all and his failure to enact a foreign policy other than ones of appeasement and apology is going to wear thin with even the countries getting major handouts from your depleted reserves.
Whether the reality exists or not, the impression is one of a country on it's very knees in a confused state akin to that of the cancer patient being told peach pits will cure all.
Russia, China, Pakistan and others rejoicing at this outcome should speak volumes to anyone with two functioning braincells but alas, the kool-ade looks too good to pass up for the thirsty folks.
This bodes ill for all nations with unseverable ties to your economy, as goes the U.S., so too do any number of other nations.
There'll be no celebrations held world wide in any board rooms full of folks with even a fragile grasp of reality.
The euphoria of this result will be short lived indeed as the weeks and months ahead unfold. All kinds of bad news that's been hidden under various rocks will start to bubble to the surface.
Blaming stuff on Bush won't fly at all and his failure to enact a foreign policy other than ones of appeasement and apology is going to wear thin with even the countries getting major handouts from your depleted reserves.
Whether the reality exists or not, the impression is one of a country on it's very knees in a confused state akin to that of the cancer patient being told peach pits will cure all.
Russia, China, Pakistan and others rejoicing at this outcome should speak volumes to anyone with two functioning braincells but alas, the kool-ade looks too good to pass up for the thirsty folks.
This bodes ill for all nations with unseverable ties to your economy, as goes the U.S., so too do any number of other nations.
There'll be no celebrations held world wide in any board rooms full of folks with even a fragile grasp of reality.
Well blame is laid at the feet of the voting public. They bought the oil from the snake and will now taste the venom.
This is election was not so much a support of Obama as it was a referendum on the republican party not having the ability to survive as a viable presidential political party in its current state.
Well we can just tell china to bugger off. What are they gonna do? Hell they won't even care once they get us off reserve currency status. We only owe em like a trillion anyway. Coulda paid em off with the stimulus money. Heck we owe Japan about as much. Just tell China to shove it and nuke Japan. Wait Japan already nuked itself never mind.
Heck I remember reading a story that during WWII we sent China 500 million and they never paid it back. Maybe just call it a wash?
Well we can just tell china to bugger off. What are they gonna do? Hell they won't even care once they get us off reserve currency status. We only owe em like a trillion anyway. Coulda paid em off with the stimulus money. Heck we owe Japan about as much. Just tell China to shove it and nuke Japan. Wait Japan already nuked itself never mind.
Heck I remember reading a story that during WWII we sent China 500 million and they never paid it back. Maybe just call it a wash?
Exactly? What are they going to do? Invade us? Please?
With Obama's re-election, here are the realities at the end of his term
1. $24 trillion in debt. With GDP at $14 trillion and only 55% of our debt held by citizens, we will have crossed the line of no return. Japan has 185% debt relative to GDP, but has nearly 100% of its debt held by citizens.
a. further currency devaluation must occur at this time
b. inflation must increase as a result
c. the price of all commodoties will increase in the US
2. Further declines in income
With Obamacare and increased regulatory burdens on business, there will be fewer jobs and more competition for those jobs. As we have seen over the last four years, this drives down wages.
3. Erosion of savings. With increased debt and subsequent currency devaluation and inflation, financial assets held my citizens will decline in value (even with an increase in the stock market). We have seen a 40% decline in personal welath over the last four years, which will continue.
4. Limited access for medicare and medicaid patients. With Obamacare, 30% cuts in medicare reimbursement go through Jan 1st. As a result, MANY physicians will be dropping out of medicare, forcing seniors (if they want elective healthcare) to pay cash. This is in a demographic which is already cash strapped, further eroding thier standard of living.
5. States, faced with increasing debt themselves, as well as the financial obligation that the citizens have as a result of US debt, will be exploring the possibility of leaving the US. This, of course, will not happen right away, but a trapped animal will seek any means it has of escaping, and there is no escaping the financial consequences of unchecked spending.
6. Higher energy prices. The continued war on coal, as well as the unwillingness to explore oil shale and offshore drilling, will continue to drive energy prices higher. The US has the ability to far exceed the output of the Saudis now (we are #2 in the world now), but is ignoring these vast resources. We have the most natural gas resources in the world as well and are ignoring that advantage.
Those of us with land resources inside and outside of the US will be fine. Those who do not will not be fine. Perhaps Obama's election is just finishing off the US a little quicker than we had anticipated, and that may be the best thing ultimately.
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