"Never let a crisis go to waste," said Rahm Emanuel. The Demonicrats are taking every possible advantage of that advice, as we see now. Economic crisis and the stock market crash. Coronavirus outbreak crisis. There is no doubt that Greg Gutfeld, on The Five, nails it: "If the media and Democrats hate the current president, then crisis is their tool."
What turned my head today was not the stock market crash, as horrible as that was. No, what I saw that was truly disturbing, were the calls, from the Demonicrats and the left-leaning liberal "mediacrocy" of course, for the President to suspend the MAGA rallies to help stop the outbreak. Okay, that's fine. Then let's cancel the Demonicrat convention in Milwaukee, too! Hey, then, let's suspend the whole election! Maybe that would be the way for the President to flip the whole thing on the Demonicrats and liberal media! That, I believe, would be not letting a crisis go to waste... in their words, not ours.
RELATED MEDIA:
The Media is NOT Helping ~ Ep. 1199 ~ The Dan Bongino Show®
Showing posts with label Financial collapse. Show all posts
Showing posts with label Financial collapse. Show all posts
Tuesday, March 10, 2020
Friday, November 04, 2011
Keep your lamps lit ~ By Patrice Lewis
Patrice is consistently straightforward. This column is no exception.
Once again, Harold Camping, now retired, came up with another false prophecy about the end of the world right after the previous one on May 21, 2011 that obviously didn't happen on October 21, 2011 as he fortold. That is obviously a good thing. I'm not ready for the end of the world. There are lives I can still touch.
Being a "prepper"? Having everything that I would need to survive should the global economy "go to hell in a hand-basket," or should there be a great war in the Middle East? The fact is, there could be all kinds of disasters that could happen, and there is no way I can be prepared for a very long time. I'd be toast.
But, if there is nothing else that I can do, I am assured of being spiritually prepared. Because of my lack of income that would be required for a long-term - or actually, anything over a week or two - survival plan, I guess there isn't any other choice. Spiritual preparation is my only option.
This is why I think Patrice Lewis was being very straightforward about the topic of preparation in this piece. I doubt it will matter if people have a few guns, a lot of ammunition, a storage of food for a year.... It may not matter. The fact is, spiritual preparation will need to be the main objective for many of us.
Our days may be numbered, but we do not know when, not even if you can predict the collapse of the global economy within a few days. However, there are things you can do to keep your lamp lit.
If you don't mind, I'll do what I can to help you understand that you can "survive" whatever comes at us, from at least the spiritual aspect. You can be good to people. You can spread the message of the Gospel, the story of God's LOVE for us. Believe me, people need to hear it. People need to have plenty of the lamp oil on hand. The good news is that you can give away that lamp oil for free.
You can thank Patrice Lewis for inspiring me just a little more today.
Keep your lamps lit!
Keep your lamps lit
Once again, Harold Camping, now retired, came up with another false prophecy about the end of the world right after the previous one on May 21, 2011 that obviously didn't happen on October 21, 2011 as he fortold. That is obviously a good thing. I'm not ready for the end of the world. There are lives I can still touch.
Being a "prepper"? Having everything that I would need to survive should the global economy "go to hell in a hand-basket," or should there be a great war in the Middle East? The fact is, there could be all kinds of disasters that could happen, and there is no way I can be prepared for a very long time. I'd be toast.
But, if there is nothing else that I can do, I am assured of being spiritually prepared. Because of my lack of income that would be required for a long-term - or actually, anything over a week or two - survival plan, I guess there isn't any other choice. Spiritual preparation is my only option.
This is why I think Patrice Lewis was being very straightforward about the topic of preparation in this piece. I doubt it will matter if people have a few guns, a lot of ammunition, a storage of food for a year.... It may not matter. The fact is, spiritual preparation will need to be the main objective for many of us.
Our days may be numbered, but we do not know when, not even if you can predict the collapse of the global economy within a few days. However, there are things you can do to keep your lamp lit.
If you don't mind, I'll do what I can to help you understand that you can "survive" whatever comes at us, from at least the spiritual aspect. You can be good to people. You can spread the message of the Gospel, the story of God's LOVE for us. Believe me, people need to hear it. People need to have plenty of the lamp oil on hand. The good news is that you can give away that lamp oil for free.
You can thank Patrice Lewis for inspiring me just a little more today.
Keep your lamps lit!
Keep your lamps lit
PATRICE LEWIS
By Patrice Lewis
October 28, 2011 ~ 2:24 pm Eastern
© 2011
Well, another miscalculated Day of Judgment has come and gone, and another false prophet who tried to predict Judgment Day is left with egg on his face. I'll never know why people feel the need to try and outsmart God in predicting the end of the world in direct opposition to Scripture, but there you are. I guess if Jesus had to warn us about such things 2,000 years ago, there was a strong tendency even back then to add up the number of "T's" in the book of Isaiah, divide by the amount of time it takes to hop around Jerusalem on one foot and multiply by the number of Tuesdays in the year 2012 (along with other numerical hocus-pocus) and conclude the world will end on May 21 or whatever.READ MORE on WND.com
So what are we explicitly instructed to do, according to Scripture? Keep watch. Be prepared. Be ready. Always keep sufficient lamp oil on hand because you never know when the bridegroom will come.
Keeping the Lamp Lit
So smart people keep their spiritual oil plentiful at all times.
Then there are the people who like to keep their physical lamp oil on hand as well. That would be the wacky subculture known as Preppers. After all, since we never know when the financial day of judgment is going to happen, we Preppers like to be ready.
The urge to be prepared has recently sharpened for millions of people as we've watched not only our own country's problems increase, but the problems of the rest of the world as well. America is toppling under debt. North Africa is in shambles and moving ever closer to Shariah law. Europe is about to implode financially and drag who-knows-what down with it. China is not the bastion of financial stability it would like us to believe.
In other words, the economic bottom could fall out from under us at any moment. When that happens, non-Preppers would be as foolish as the virgins who forgot to stock lamp oil, because lamp oil will shoot through the roof in terms of price and scarcity.
We cannot predict the Day of Judgment, so it's best to be constantly prepared for it. Nor can we predict the economic collapse of our nation … but it's no longer a matter of IF, it's a matter of WHEN. So wise people keep their pantries stocked.
Don't be afraid!
ONE NATION UNDER GODYOU ARE NOT ALONE!
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WE the PEOPLE
are the MOBONE NATION UNDER GOD
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Monday, December 27, 2010
2010: Don't forget, and do tell! ~ By Herman Cain
In his column today, Herman Cain wants to remind everyone not to forget all the things that Obama and the Democrat controlled Congress have done in the past two years. Herman says that the important thing to do is to make sure to tell people that are willing to listen. Don't let people forget!
2010: Don't forget, and do tell!
2010: Don't forget, and do tell!
HERMAN CAIN
By Herman Cain
December 27, 2010 ~ 1:00 am Eastern
© 2010
Don't forget what President Obama and the Democrat-controlled Congress did in 2010 – and tell everybody who will listen! And if they do not get outraged, then they are sleeping under a rock, and they can't get out.
Pure politicians have for years depended on voters to forget their misdeeds leading up to the next election. But things are different! Voters are not as stupid and uninformed as they used to be. People are more informed and aware of the arrogance of the current administration and Congress than ever before.
Speaker of the House Nancy Pelosi said they needed to pass the health-care deform bill first, so they can then tell us what's in the bill. They passed it, and we now know what's in the bill: an assault on our liberties, increased taxes through fines and an unprecedented expansion of government bureaucracy in our lives. Don't forget!
The president's insistence on passing the health-care deform bill against the will of the majority of the American people was a historic presidential slap in the face of the people. Poll after poll had confirmed that the people did not like this government takeover of our health-care system, but the president and the Democrat-controlled Congress did it anyway. Don't forget!
READ FULL STORY at WorldNetDaily.com
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Tuesday, December 07, 2010
Washington is leaking oil ~ By Herman Cain
The oil light is on, and the Democrats still don't seem to have a clue.
Washington is leaking oil
As Sen. Tom Coburn, R-Okla., and others have stated, Washington still does not get it. The Democrats still do not get it. They did not hear the very loud message of the election results. Stop ignoring the people!It was a good analogy by Herman Cain to explain how you can know that you have some severe problems to deal with, but yet, your priorities have nothing to do with taking care of the problems facing this country. It seems that the Democrats are only happy when they do things to try to satisfy their leftist base. That is not good for the rest of us.
Washington is leaking oil
By Herman Cain
December 06, 2010 ~ 1:00 am Eastern
© 2010
My first car as a teenager was an old car with a lot of problems, but at least it was functional. It had an oil leak, and I could not afford to get the leak fixed. It was cheaper for me to add oil occasionally to prevent the engine from totally locking up, or worse yet, catching fire.
The president, his administration and Congress are functionally leaking oil, and the American people are nervous about a total government shutdown, or worse yet, economic collapse. We are not too big to fail as some people seem to believe, and Uncle Sam does not have a "sugar daddy" to bail us out.
Leaking of classified information by WikiLeaks has compromised our national security, and has put our military warriors in and out of uniform at risk. We have yet to see definitive action by the administration to address the issue, even though we have seen and heard a lot of news stories that make us uncertain that the situation is under control.
Economic uncertainty continues to thwart economic growth while Congress and the administration continue to bicker over extending the existing tax rates. Extending all of the tax rates is the right thing to do for the economy, instead of playing class warfare once again to try to gain a political victory.
If Congress and the president do not act, then we will all see tax increases on Jan. 1, 2011. This would be a devastating blow to our economy. A sense of urgency by Washington does not seem to be a priority, as if they have the option to extend the 2010 calendar year. Thankfully, they do not.
READ FULL STORY at WorldNetDaily.com
RELATED COLUMNS:
A presidency in free fall ~ By Herman Cain
The Democrats’ class warfare crap ~ By Herman Cain
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Thursday, August 05, 2010
Sudden-death economics ~ By Herman Cain
I would have had The Hermanator's column posted here a couple of days ago, but found myself dealing with a crashed hard drive instead. Fortunately, Herman's column was not time-sensitive, as he is writing about a situation that is on-going.
Or, perhaps the hard drive catastrophy was just my excuse so I could put off the posting of this column, for the fact that it is a scary topic. And I don't think that would be the only person around that wants to avoid what may be imminent and present danger to this country. I am not sure if many people have really considered what could happen to America should there be a financial collapse. But, if you think about it, should the economy of the United States collapse, I am sure the global economy would be quick to follow. And that is the very scary part of the potential financial collapse, a very possible scenario.
And knowing what I know about economics, I am wondering how the people running the government could not possibly understand what is facing this country economically. I would think that they would know that history shows that tax rate decreases have actually led to an increase in revenue (see "The Historical Lessons of Lower Tax Rates" which Herman links to in the FULL column). It is why I still hold the opinion that Obama and his administration DOES know what is going on, and that it could only be an intentional attempt to destroy this country - for what ever sinister reason they may have. Just sayin'...
Or, perhaps the hard drive catastrophy was just my excuse so I could put off the posting of this column, for the fact that it is a scary topic. And I don't think that would be the only person around that wants to avoid what may be imminent and present danger to this country. I am not sure if many people have really considered what could happen to America should there be a financial collapse. But, if you think about it, should the economy of the United States collapse, I am sure the global economy would be quick to follow. And that is the very scary part of the potential financial collapse, a very possible scenario.
And knowing what I know about economics, I am wondering how the people running the government could not possibly understand what is facing this country economically. I would think that they would know that history shows that tax rate decreases have actually led to an increase in revenue (see "The Historical Lessons of Lower Tax Rates" which Herman links to in the FULL column). It is why I still hold the opinion that Obama and his administration DOES know what is going on, and that it could only be an intentional attempt to destroy this country - for what ever sinister reason they may have. Just sayin'...
Admittedly, this is not an inspiring or entertaining topic. In fact, it is downright scary. It is even scarier that a large number of voters are equally oblivious and blind to this clear and present financial danger. What happened in Greece and other European countries can happen here.
The big difference is that Uncle Sam does not have a "sugar daddy" to bail us out.
The 2010 congressional elections are sudden death for control of the House of Representatives. If real Republicans take control, there is some real hope of slowing down the destruction of our economy.
This is a serious crisis, and the elected so-called leaders are not listening. I believe the voters are listening. They will remember in November.
By Herman Cain
Posted: August 02, 2010 ~ 1:00 am Eastern
© 2010
Our economy is on a government-induced lose-lose trajectory of financial destruction between federal spending and tax revenue. It's a Mathematically Assured Depression (MAD). The only unanswered question is when.
– Herman Cain, March 9, 2009, commentaryI do not enjoy bad news predictions. But the president, his administration, Congress and the major mainstream broadcast media are focused on everything except the coming financial disaster we face. It's not that the other issues are not critical. The financial crisis could be catastrophic.
The Congressional Budget Office issued another warning last week that the growing federal debt is unsustainable! It is a real crisis! As stated in the agency report, "A growing level of federal debt would increase the probability of a sudden fiscal collapse."
This did not just start under the Obama administration, but it has clearly accelerated during this administration. Consider the following statistics:
When President Obama took office in January 2009, the national debt was $9.5 trillion, which is nearly $32,000 for every man, woman and child living in this country. The national debt as of this writing is nearly $14 trillion, which is $45,000 for every man, woman and child living in this country. That's a historic increase in a historic short period of time!
That debt does not die when we die. Our children and grandchildren will have to pay our foreign creditors back, if we can avoid a total financial collapse.
As the president and Congress continue to spend like crazy, they continue to pay lip service to wanting to get spending under control. Their words do not match their actions.
For example, Senate Democrats tried to pass a $30 billion "drop in the bucket" package to help stimulate lending to small businesses. More than $600 billion of the stimulus bill has not worked, so the Democrats wanted to throw another $30 billion on top of the $846 billion stimulus spending. The majority of Republicans voted against it because it was new spending, when the money could have been taken out of unspent stimulus funding.
Of course, the president blamed the Republicans for being partisan obstructionists.
READ FULL STORY at WorldNetDaily.com
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Thursday, July 15, 2010
Not your 1930s Depression ~ By Patrice Lewis
Patrice has it so right in this column, it is making it difficult to expound on it. In fact, I ended up sitting on this one for several days to give me a little more time to come up with something. In fact, for a Patrice Lewis column back on May 22, 2010, I seemed to have encountered the same problem:
I usually do this little intro blurb after I've formatted the page and everything else involved. That's right, I save the best part for last (wink). But, it can also be the hardest part of the work I do in updating this blog. And sometimes, it is Patrice Lewis' columns that are the most difficult to write an intro for. Why? Because they are written so well, and I have to ask myself how anything I write here could ever compare. I really want people - as many as possible - to read what Patrice has to say. I don't want to bore anyone before they get to the column to read it for themselves.In this column, Patrice brings up a problem that many would not have thought of. The fear now is that if there is a major economic collapse, that unlike in the Great Depression of the 1930's, many people won't be willing to do what it takes, or know how, to survive. She writes:
After decades of government entitlements, many people no longer have a work ethic. My concern is if we encounter the economic depression analysts predict, it will result in societal turmoil – because far too many people haven't the slightest clue how to work, how to exchange labor for food, or how to restrain their most vicious and animalistic desires in order to keep civilization civil.After reading this column, many of you may get the same thought I did. "Keep your powder dry, folks." Just sayin'...
Our country can survive an economic depression. We've done it before and we can do it again. It won't be easy, but we can do it.
But I fear we cannot survive an economic depression when it's coupled with an unwillingness to embrace a work ethic, independence, civility and religious foundation. Once the artificial props of government entitlements are removed, it will be every man for himself. The results may be anarchy and chaos. And it will give the government a clear opportunity to take advantage of the "crisis" and put in place a government such as we could never imagine.
By Patrice Lewis
Posted: July 10, 2010 ~ 1:00 am Eastern
© 2010
The news headlines have been screaming lately:If you're self-employed like we are, headlines like these make us nervous. So we've gotten caught up in the "preparedness" movement purely out of anxiety.
You see, if our country is heading toward a 1930s-style depression or worse, I fear it won't be "just" an economic depression. We are missing some key elements that were present during the 1930s that will make that decade-long economic disaster a relative walk in the park compared to today.
Those key factors are a work ethic, independence, civility and a religious foundation.
Remember the old stories of how someone would knock at your grandmother's back door and offer to split some firewood in exchange for a meal? Does anyone honestly think hungry people will do this any more? We're so used to entitlements that the idea of lowering ourselves to exchange labor for food is outrageous. No, today a person who is hard up on their luck and not getting a government handout is much more likely to kick in the back door, tie grandma up, pistol whip her (or worse) and clean the house of any usable items before departing for the next victim. In their minds this is because grandma has no "right" to have food when they don't.
The elders in our society often recall with fondness some of the good elements that came out of the horrible Great Depression. They remember the sense of community that sprang up, born of common hardships. They remember how hard the indigent would work to maintain their dignity and not sink to accepting charitable handouts without offering something else in exchange (such as splitting firewood).
But no more.
After decades of government entitlements, many people no longer have a work ethic. My concern is if we encounter the economic depression analysts predict, it will result in societal turmoil – because far too many people haven't the slightest clue how to work, how to exchange labor for food, or how to restrain their most vicious and animalistic desires in order to keep civilization civil.
If it weren't so tragic, it would be laughable to hear people spouting on and on about their "rights." Criminey, folks, most people wouldn't recognize a real "right" if it bit them on the butt. Rights are a gift from God. They do NOT come from the government. All those entitlements – subsidized housing, food stamps, free medical care – are not "rights."
We have the right to life. We have the right to liberty. And we have the right to the pursuit (not the achievement) of happiness. These rights derive from our Creator, not from the fools in Washington.
You do NOT have the "right" to food. It's up to you to get that for yourself or, if you can't, to look to private individuals or organizations to voluntarily provide it. You do NOT have the right to housing, medical care, transportation, unemployment checks, or anything else people bleat about when they want something but don't want to work for it.
Only when we struggle to be as independent as possible are the chains of slavery seen so clearly.
Because we have been so caught up with false "rights" for the last 50 years, we've gotten to the point where we are helpless and dependent and no longer able or willing to achieve anything on our own. And only someone pathetically caught up in a liberal mentality can argue that entitlements help people achieve independence.
This mentality has set the stage for a modern collapse to be worse than any throughout the annals of history.
Right now there are economic forces at work that are beyond our control. We can go from homeowner to homeless in the blink of an eye. It can happen to anyone, no matter how prepared or unprepared they believe themselves to be.
But a work ethic, an independent spirit and a moral foundation are entirely within our control and can be acquired just as quickly. To their ultimate loss, most people choose not to acquire them.
So if we're heading for a depression in this country, we need to brace ourselves for much, much more than financial hardship. We need to brace ourselves against millions of lawless people demanding "entitlements" they have not earned and for which they have no intention of offering anything in exchange.
What does the future hold for America? There are two possibilities – a loss of freedom, or a return of freedom. Sadly, most people don't like freedom. They want someone to rescue them if things go wrong, which means they only like the "freedom" of an extra-long chain.
We have allowed independence to slip into dependence. We have allowed a work ethic to descend into an entitlement mentality.
READ FULL STORY at WorldNetDaily.com
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Friday, May 28, 2010
Barack Obama: A black Svengali ~ By Erik Rush
Right off the bat, I had to refer to reference sources to find out who this Svengali guy was in order to make sense of this column. It became painfully clear once I read this from Wikipedia:
Now that we know what Svengali means, there should be little doubt that Barack Hussein Obama is our modern-day Svengali. In Erik's column, he mentions the unsustainable spending and insurmountable debt that is accumulating at an alarming rate, along with the lack of security on our border and out-of-control illegal immigration that could lead to violence in the Southwest.
But I have one more thing to show you, which should result in having no doubt about Obama being a Svengali, and a very Machiavellian one at that. Watch this video, and then read Erik's column:
May 26, 2010 - Is the Gulf Oil Spill the DeepWatergate?
Svengali is the name of a fictional character in George du Maurier's 1894 novel Trilby. A sensation in its day, the novel created a stereotype of the evil hypnotist that persists to this day.Also from Wiki was the following:
The word "svengali" has entered the language meaning a person who with evil intent manipulates another into doing what is desired.Dictionary.com defines Svengali as a noun, meaning "a person who completely dominates another, usually with selfish or sinister motives."
Now that we know what Svengali means, there should be little doubt that Barack Hussein Obama is our modern-day Svengali. In Erik's column, he mentions the unsustainable spending and insurmountable debt that is accumulating at an alarming rate, along with the lack of security on our border and out-of-control illegal immigration that could lead to violence in the Southwest.
But I have one more thing to show you, which should result in having no doubt about Obama being a Svengali, and a very Machiavellian one at that. Watch this video, and then read Erik's column:
May 26, 2010 - Is the Gulf Oil Spill the DeepWatergate?
Video provided by TheREALjohnny2k
As President Obama delivered his florid commencement speech before the graduating class at the U.S. Military Academy at West Point last week, it occurred to me that our president is sort of a hip, black Svengali. Don't listen! I wanted to yell, lest all who heard might become transfixed, and finally, irreversibly hypnotized.
And how amusing, I thought. … The lifelong communist who managed to ascend to the presidency of the United States, advising the graduating class of a military academy that America had "outlasted communism." A calculatedly disarming maneuver, or simply reinforcement of the Obama mythos that he is still the emissary of long-awaited hope and change?
While some Americans remain mesmerized, and many are still at risk, remember that these numbers are dwindling. The number of those who are dedicatedly working to break the spell and reverse the damage increases daily.
By Erik Rush
Posted: May 27, 2010 ~ 1:00 am Eastern
© 2010
Prominent media pundits continue to offer questions to their guests and audiences, such as: "Doesn't the president understand that this kind of spending is unsustainable?" and "Why doesn't he just secure the border?"
I remain nonplussed at these and other queries, because I know the answers to them – and I know full well that I'm not the only one. It's just astounding to me that certain otherwise well-informed, politically savvy folks don't.
Of course President Obama knows that his level of spending is unsustainable. The spending is intended to further compromise the U.S. economy, in the same way as overly aggressive implementation of the Community Reinvestment Act was intended to do so. It would be more surprising if Obama did do something to ameliorate our financial woes, rather than massaging filth into the wound and asserting that it will stave off infection.
Then there's the U.S.-Mexico border. There are a few reasons why this is playing out as it is, including economic reliance and the crop of potential voters aliens represent. The assorted crime victims and young American women whose bodies have been picked clean by coyotes in the desert, or who are currently servicing drug lords after having been dragged back across the border into Mexico are simply not a factor.
The third rationale is a much more sinister raison d'être: Obama and his Marxist minions rely on crises; they would like nothing more than to see civil unrest break out along our southern border. The radicalization of young Americans of Mexican descent by the radical left, the ongoing tolerance of radical activists, educators and politicians and a press that does nothing but exacerbate the situation is a recipe for civil unrest.
Between the cultural balkanization that has taken place and the frustration of border-state residents who realize they've been sold out by a complicit government, pockets of violence could very well erupt, and soon. This will intensify the cries of racism from far-left activists, amplify anger on the part of border-state residents, and the hostilities would likely snowball.
If this happens, the federal government will be "compelled" to intercede to keep the peace – just as the government of the Soviet Union wound up doing for 70 years in Eastern Europe.
Now, realize that spending and inaction on the border are just two manifestations of this administration's grand design for the dismantling of America. There are dozens more of varying scope, but all lead to the same end, and all reflect the character of the principals involved in bringing this about.
The motivations of power-seeking progressives are very easy to understand, if craven, unprincipled and perverse: These are individuals who are of above average intelligence, but who are intrinsically emotionally immature, covetous and narcissistic. Like most people, they have talents and aptitudes, but they don't see these conveying to them the fortune and glory to which they feel entitled, because they know they have no real vision. They'll never compose grand symphonies, achieve great medical breakthroughs, nor found multibillion-dollar companies. Being of the aforementioned temperament, they also form harsh assessments of the people and society around them.
They could have done it better, they reason.
READ FULL STORY at WorldNetDaily.com
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Saturday, May 08, 2010
The end of La Dolce Vita ~ By Patrick J. Buchanan
For those that don't know, "La Dolce Vita" is Italian for "the good life" or "the sweet life." I only know because I just looked it up. That should tell you what you need to know to understand just what Pat is saying. We have become so accustomed to the good life, despite the huge cost, what will happen if can't be paid for in the future? What will happen if the economies of Europe and America collapse? A one world economic system? Global governance? Tyranny? We may be about to find out.
La Dolce Vita is coming to an end. The ever-expanding European and American welfare states of the 20th century will contract in the 21st. Some have already begun to shrink. A time of austerity is at hand.
Indeed, what is about to be tested is democracy itself.
Can democracies that attracted universal applause in the golden years of rising expectations impose upon their citizens the enduring and painful sacrifices necessary in a time of retrenchment?
We are about to find out.
By Patrick J. Buchanan
Posted: May 06, 2010 ~ 8:16 pm Eastern
© 2010
Are Europe and America headed to where Athens is today?
To answer the question, consider what brought Greece to where she is – running a deficit of 14 percent of gross domestic product with a debt approaching 100 percent, with Portugal, Spain, Ireland and Great Britain not that far behind.
How did this happen?
Protected by the United States through a half-century of Cold War, Europe cut back on defense and ratcheted up spending for La Dolce Vita.
All of Europe adopted universal health care. All voted in a shorter workweek, a higher minimum wage, greater job security, earlier retirements and munificent pensions.
As the cradle-to-grave welfare states rose, an ever-increasing share of the labor force left the private sector for the security of the public sector.
Tax-consumers, the beneficiaries of the welfare states and the bureaucrats that ran them, grew in number, as taxpayers declined as a share of the labor force. Though Greece was far from the most productive nation in Europe, Athens led the parade.
After the baby boom ended, the pill arrival in the 1960s. Then came abortion on demand in the 1970s.
The fertility rate of Greece and every European nation fell below the 2.1 births per woman needed to replace an existing population. Greece's birth rate has been below zero population growth for three decades.
Result: In Year 2000, Greece had just under 11 million people and a median age of 38. In 2050, Greece is projected to have just under 11 million people, but the median age will be 50.
Were Greece a company, the solution would be bankruptcy.
But Greece is a country. And a bailout of $141 billion is being put together by the European Union and International Monetary Fund.
Why? Because, should Greece decide not to take a chain saw to her welfare state, but walk away from her debts and default, she would blow a hole in the balance sheets of the biggest banks in Europe.
Then the banks would have to be bailed out.
Seeing Greece's bondholders being burned, terrified holders of Portuguese and Spanish debt would start dumping their bonds, forcing Madrid and Lisbon to pay a higher interest rate both to sell new bonds and roll over the old ones coming due. Rather than savage their welfare-state programs, and risk riots in the streets and a massacre at the polls, Madrid and Lisbon, too, might look agreeably at default.
Chancellor Angela Merkel, though exasperated with the Greeks, is urging Germans to back the $141 billion bailout: "Nothing less than the future of Europe ... is at stake."
Merkel believes there is no alternative. But there is an alternative – a restructuring of Greece's debt or a default where the holders of Greek bonds suffer the fate of the holders of bonds from Lehman Brothers and General Motors.
Inevitably, this is what is going to happen.
For how long will Greeks work longer, retire later and live on smaller pensions, so holders of Greek bonds can get their interest payments right on time?
The EU and IMF may, with the bailout of Greece, kick this can up the road. But the crisis will return. For the nations of Europe have made commitments beyond their capacity to keep, given their growing debts and aging populations.
And America is not all that far behind.
READ FULL STORY at WorldNetDaily.com
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Saturday, April 24, 2010
When will this insanity end? ~ By David Limbaugh
There are still plenty of Obama worshippers that don't believe that he is a Socialist, or for that matter, a Marxist or Communist. However, as David Limbaugh shows here in this column, Obama certainly is!
In hot pursuit of his latest federal power grab (a complete financial overhaul), what Obama doesn't tell us is that it wasn't an unregulated market that primarily caused the financial crisis – the crisis that facilitated his ecstatic quest to completely transform America into a socialist state. It was largely an unbridled, out-of-control, do-gooder leftist Congress that substituted its values for the wisdom of the market and incentivized and forced financial firms to make loans to people who couldn't possibly repay them, among other things. These wonderful leftist congressmen, who hold themselves out as impartial regulators, resisted Republican efforts to rein in their friends at Fannie and Freddie.
By David Limbaugh
Posted: April 23, 2010 ~ 1:00 am Eastern
© 2010
I wonder why any president of the United States would feel compelled to protest, repeatedly, "I believe in the power of the free market." Has any other president said it – at least in the context Obama keeps saying it? That's rhetorical.
Sure, Ronald Reagan talked about the glories of capitalism frequently, but never in terms of trying to convince skeptics that he really believed what he was saying.
But Obama said it again in that very context, in his Wall Street speech in New York yesterday. "As I said two years ago on this stage, I believe in the power of the free market." Believe me; he didn't go on to elaborate on the wonders of entrepreneurship, capital formation, liberty or the robust economic growth that free markets produce and which cannot be replicated, with any faint degree of consistency, in command-control economies.
Indeed, just one sentence later, Obama added one of his ubiquitous free-market qualifiers. He said, "But a free market was never meant to be a free license to take whatever you can get however you can get it."
Excuse me? Please tell me one capitalist who believes that a free market is synonymous with a license to steal. None does. They all understand that our capitalist system operates under the rule of law. We already have laws preventing stealing, fraud and the like. So why does he have to frame the issue in such distorted extremes? Also rhetorical.
But let me ask you something: could Obama make the same statements about the federal government, as in, "I believe in the power of the federal government, but the federal government was never supposed to have a license to take whatever it can get however it can get it"?
Sure he could make the statement, but would he mean it? Rhetorical. Surely we can all agree that he has far more confidence in the federal government than in the invisible hand of the free market. In fact, Obama leftists these days are coming out of the woodwork to condemn conservatives and other free-market advocates for believing that capitalism can possibly work without the constant heavy hand of government regulation pressing down on evil entrepreneurs for their excess profiteering.
Raised and mentored at the feet of capitalist-hating leftists, Obama repeatedly reveals a visceral distaste for profits. And I don't mean so-called "excess" or "ill-gotten" profits only, but just plain old profits. Obama thinks, like a Marxist, that profits are "surplus value" stolen by capitalists from laborers who produce the wealth.
He is obviously so deeply steeped in Marxist indoctrination that he believes that prices are only high because of profits. In his static view, only a government-controlled system can cut out those evil profits and maintain reasonable prices. He apparently has no concept of – or any appreciable real-world experience validating – the ability of the market, through competition, to produce higher-quality goods at lower prices.
READ FULL STORY at WorldNetDaily.com
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Friday, March 12, 2010
Obama: Visions of Caesar? ~ By Erik Rush
Erik writes about something that I've felt for quite some time. I honestly have to wonder if Obama is intentionally destroying the economy to create a "crisis." And maybe I need to be wearing my tin-foil hat, but I think the ultimate purpose is to go to a New World Order. I know that there are many on the left that want global governance. And I know many of them are in Congress or working in the White House.
I've expressed my belief in the possibility that, given President Obama's political background and the number of power-mad freaks in Washington in general, his intention is to coordinate a societal breakdown (probably precipitated by an economic implosion) so horrendous that unprecedented government intervention on a civil level will be "unavoidable."
Posted: March 11, 2010 ~ 1:00 am Eastern
© 2010
If your friend jumped off of a bridge, would you jump too?
~ Parental admonitionMany of us remember an older relative – usually one's mother – asking that question at least once during our childhoods when we did – or wanted to do – something stupid or dangerous and attempted to deflect the blame onto a cohort. Since I grew up in New York, of course it was always the Empire State Building rather than a bridge.
Urged on by those who thought it would be amusing, some years back, America's friend Europe jumped into the sociopolitical equivalent of a toilet. At first, it looked like Europe might be having fun splashing around in there. Now, as she drowns in the thickening, fetid soup, amidst the noxious reek and floaties, Europe's plight is beginning to look decidedly frightening.
Despite this, Europe herself doesn't seem to know yet how bad it might get – like, real "Road Warrior" stuff – as she struggles harder and with increasing ineffectiveness. And right now, those who urged Europe to jump have America on the fence as to whether she ought to do likewise.
America is clearly confused.
What gives pause is something that would give millions of Americans chills, if it were being covered at all by the establishment press, this being that Europe is in serious trouble – even worse than that of the United States, if that is to be believed. In Greece, the yawning chasm of its deficit and titanic debt have caused ugly strikes among public-sector workers, and Greeks are angry.
In Holland, fear and loathing over where multiculturalists have taken that nation (stemming largely from their population of radicalized, militant Muslims asserting themselves) are giving rise to social turmoil. Backlash from the right (or what Europeans call "the right") and the ongoing efforts of socialist concerns are threatening to pull the country apart.
In America, during the worst economic downturn since the Great Depression, the administration of President Barack Obama elected to spend over $3 trillion in nine months – and they are looking at laying out much, much more. They're also poised to raise taxes, when the conventional wisdom indicates that cutting taxes generates more tax revenue than raising them. Obama is doggedly attempting to "lower health-care costs" by insinuating massive government control into our health-care system, when government mandates concerning a segment of our population caused health-care costs to skyrocket for the remaining segment in the first place.
READ FULL STORY at WorldNetDaily.com
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Saturday, December 26, 2009
President Obama's Marxist majority ~ By Henry Lamb
Commentary from WorldNetDaily
By Henry Lamb Posted: December 26, 2009 ~ 1:00 am Eastern © 2009 A reporter asked Majority Leader Harry Reid how he could justify exempting Nebraska from Medicaid payments forever, in exchange for Sen. Ben Nelson's vote. His reply:
There's a hundred senators here. And I don't know if there's a senator that doesn't have something in this bill that was important to them. And if they don't have something in it important to them, then it doesn't speak well of them. That's what this legislation is all about. (Harry Reid, Dec. 21, 2009, Democratic press conference after cloture vote on health-care bill)Apparently, Sen. Reid sees the legislative process as an activity through which individual senators vie for taxpayer dollars to obtain results that are beneficial to them. If individual senators don't get something out of specific legislation, then it "doesn't speak well of them." As the supreme benefit broker, behind closed doors, Sen. Reid dished out abundant benefits to selected members of the Senate as a reward for their vote on the health-care bill. This behavior is nothing short of bribery – with taxpayer dollars. Reid is not only proud of his skullduggery, but he suggests that senators who do not poke their hands into the public honey pot aren't doing their job. This Marxist majority has made a travesty of our government: The U.S. Senate should be the world's highest platform of political debate, but Harry Reid has transformed it into a cesspool of political payoffs. Democrats everywhere should be embarrassed. Non-Democrats everywhere should be determined to rid the nation of this corruption. The elections in 2010 will reveal whether the United States has succumbed to the immoral, unethical, "end-justifies-the-means" corruption practiced by this administration and congressional majority, or whether the people will rise up and demand a return to the limited federal government and free market the Constitution requires. This is the choice: America as a land of individual freedom, free markets and unlimited opportunity for personal achievement, or America is the land where individuals are forced to buy what government dictates and surrender their prosperity to the government in taxes to subsidize the failure of others. READ FULL STORY >
Monday, December 21, 2009
2010, here I come! ~ By Barbara Simpson
Commentary from WorldNetDaily
By Barbara Simpson Posted: December 20, 2009 ~ 10:35 am Eastern © 2009 I don't usually make New Year's resolutions. They tend to be predictable and trite. They're easy to list and easier to ignore! I've done my share of that. Maybe it relates to age. When we're young and dumb, we think we can do and accomplish anything. All we have to do is make a list and it's done! So we make resolutions, which usually have to do with how we'll act or respond to something – or how we'll change something. Usually that "something" relates to a negative aspect of our lives. When we're older, we're usually wiser – which means we're smart enough to know what we will or won't do. We're smart enough to know that resolving to give up a bad habit – or start a good one – just because it's Dec. 31 is an exercise in futility. Or stupidity. Or stubbornness. Or maybe, just plain wishful thinking and silliness. But what's the point? In fact, the whole idea of New Year's resolutions has faded over the last decades. Maybe it had a lot to do with the fact that we've just gone through a phenomenal period of economic success and a bubble of luxury. We had jobs, money, time and the ability to fulfill dreams. Not everyone, of course, but enough of us that we really had a pretty cushy life. There were jobs and trips and clothes and entertainment. There was money for just about anything we wanted, and if we didn't have the cash, there was credit – plenty of credit. It was easy to get and easy to increase. The guidelines that we may once have been taught by parents and teachers, who understood what a budget was and who knew what would happen when it doesn't balance, were lost in the heady excesses that were ours. It was fun and easy, especially when the bank was willing to give us more than we asked for and tell us there was more where that came from. Credit cards filled our mailboxes and became the means to the dream. Want that world trip? Charge it. Make a movie or take a year off to write that book? Do it on the charge card. When one card is full, pay it off with another. Talk about a house of cards, and, like any such structure, one day it all fell down. READ FULL STORY >
Friday, December 11, 2009
Ron Paul's hour of power ~ By Patrick J. Buchanan
Commentary from WorldNetDaily
By Patrick J. Buchanan Posted: December 11, 2009 ~ 1:00 am Eastern © 2009 The decades-long campaign of Ron Paul to have the Government Accountability Office do a full audit of the Federal Reserve now has 313 sponsors in the House. Sometimes perseverance does pay off. If not derailed by the establishment, the audit may happen. Yet, many columnists and commentators are aghast. An auditors' probe, they wail, would imperil the Fed's independence and expose it to pressure from Congress to keep interest rates low and money flowing when the need of the nation and economy might call for tightening. They cite Paul Volcker, who to squeeze double-digit inflation out of the economy in the late Carter and early Reagan years, drove the prime rate to 21 percent, causing the worst recession since the Depression. Volcker, they claim, prepared the ground for the Reagan tax cuts and seven fat years of prosperity. That decade, America created 20 million jobs – and another 22 million in the Clinton era. Without Volcker putting the economy through the wringer, it could not have happened. And had he been forced to explain his decisions, Congress would have broken his policy. Such is the cast for Fed independence. But if true, what does this say about our republic? READ FULL STORY >
The end of freedom ~ By Joseph Farah
Commentary from WorldNetDaily
By Joseph Farah Posted: December 11, 2009 ~ 1:00 am Eastern © 2009 The end of freedom as we have known it is near. Soon, if the enemies of freedom and the proponents of government command-and-control economies have their way, this is what you can expect:
- A shortage of well-paying, productive jobs actually making things: This is because of a combination of environmental rules and regulations, government red tape and corporate taxes that make it easier to ship jobs overseas. If you think it's bad now, you ain't seen nothing yet. Americans also have to compete now with illegal aliens for employment because the government refuses to do something it actually has a responsibility to do – control the borders.
- You will be told what you can drive and what you can't: This is part of the government's power grab under the rubric of "climate change." Carbon dioxide, a naturally occurring gas vital to all living things, has been determined to be the biggest hazard on the planet – responsible for "global warming" apparently impossible to detect with thermometers, but only through computer modeling. A side effect of this plan is even fewer productive jobs.
- You will be told what medical procedures you can have and which you can't have: The government will soon be a middleman between you and your doctor. Even your hard-earned money, if you have any, will be useless in persuading doctors in this country to treat you.
- Your vote will be meaningless: Of course, systems like these cannot be mandated in a country in which politicians are accountable to the people, so the power of your vote will need to be watered down by giving amnesty to millions of illegal aliens who, in turn, will vote for their benefactors, returning them to office. In addition, criminal organizations like ACORN will be funded by the government and probably placed in charge of elections – if elections are permitted to take place at all.
READ FULL STORY>>
- Your guns will be taken away: Tyrannical regimes can only survive in countries in which the government maintains a monopoly on force.
Tuesday, November 03, 2009
Economist warns of president's financial 'bubble'
From WorldNetDaily
By Jerome R. Corsi Posted: November 02, 2009 ~ 10:26 pm Eastern © 2009 WorldNetDaily While President Obama declared today from the White House that his goal was to create "post-bubble" growth in the U.S. economy, a top economist at New York University published an article in the Financial Times charging that under Obama the Federal Reserve is creating one of the greatest economic bubbles in financial history. NYU economist Nouriel Roubini argued in the newspaper that by keeping federal fund interest rates at zero, Federal Reserve Chairman Ben Bernanke is stimulating a historic stock market rise that is being fueled by money investment managers borrowing from the federal government. Roubini warned that the dollar has become the "mother of all carry trades" and that it faces "an inevitable bust" that will cause asset prices to plummet in what will amount to a global stock market crash of historic proportions. A currency is defined as being involved in a "carry trade" when the currency can be borrowed at relatively low cost and invested for what appears to be a certain or "locked-in" gain. [CLICK HERE TO READ MORE]
Thursday, October 29, 2009
Stock analysts issue 'Black Tuesday' warning
From WorldNetDaily
Trends on anniversary of 1929 collapse indicate markets on verge of 'crash' Posted: October 29, 2009 ~ 1:00 am Eastern © 2009 WorldNetDailyOn this 80th anniversary of the "Black Tuesday" stock market collapse, some analysts are experiencing déjà vu, warning a major crash in the stock market is imminent. Graham Summers, senior market strategist at OmniSans Research, wrote in the firm's daily e-letter yesterday that the markets may finally be on the verge of the crash he has been predicting for more than two months. "Well, judging from the market's action today, I believe we may be within 48 hours of getting the "Official Sell" signal I've been waiting for," he wrote in "Gain, Pains, and Capital." The Dow Jones Industrial Average lost 119 points yesterday, or 1.2 percent, while the NASDAQ lost 2.7 percent. The Russell 2000 index of smaller companies dropped 3.5 percent. Summers explained in an online piece Tuesday that he has been watching an ominous pattern develop in which the trading range shrinks as stocks rise higher. In the past, that pattern has led to a sharp downturn, he said. "I've been forewarning of a potential crash for months now. And the market's current action is precisely what you would expect for a major top (increased volatility)," Summers wrote. Author and WND columnist Vox Day, asserts in book released last week, "The Return of the Great Depression," that the U.S. is entering the early stages of the Second Great Depression. [CLICK HERE TO READ MORE]
Monday, October 26, 2009
Get ready, America: Great Depression 2.0
From WorldNetDaily
Author who predicted current crisis shows why it's 'only the beginning' Posted: October 25, 2009 ~ 8:30 pm Eastern © 2009 WorldNetDailyDrawing striking comparisons between the Japanese economy in 1988 and the American economy today, a new book by an author who predicted the current crisis warns it's going to get much worse before it gets better. Vox Day, a WND columnist, asserts in "The Return of the Great Depression," by WND Books, the U.S. is only now entering the early stages of the Second Great Depression. Day presents a fact-rich case, rooted in economic history and time-tested theory, in which he concludes that an economic contraction of very large proportions is presently developing. But he contends that "due to a reactive wave of positive social mood, statistical obfuscation, and understandable denial, it will take about a year for the consensus opinion to cycle through the various scenarios in descending order of optimism before the grim reality finally becomes apparent to even the casual observer." Though the message is stark, Day believes the book is a much-needed antidote to the self-interested optimism of the financial media. [CLICK HERE TO READ MORE]
Thursday, October 08, 2009
Wishing doth not a recession end ~ By Herman Cain
From WorldNetDaily
By Herman Cain Posted: October 05, 2009 ~ 1:00 am Eastern © 2009 Federal Reserve Chairman Ben Bernanke has said that the recession is likely over. The Associated Press has interpreted the three-month decline of new jobless claims from June through August as an indicator of the economy getting better. Then oops! The new jobless claims in September went back up, and unemployment hit 9.8 percent. The ups and downs of the stock market have played many investors like a yo-yo, as they look for any signs that sustainable economic growth may be back. News flash! We are in a recession, and it is a long way from being over. Here are three reasons we will have a prolonged recession: 1) the non-stimulus $787 billion stimulus bill; 2) the threat of increased taxes in the Cap & Trade & Tax & Kill bill; and 3) the prospect of health-care deform legislation. None of these proposals inspires businesses to hire people. That's reality. I do applaud Bernanke's economic optimism, but I would applaud economic realism even more. The real measure of an economic turnaround is when businesses start hiring people again, but businesses are still trying to survive for at least another year in the midst of tremendous uncertainty about legislative proposals in Congress. The evidence is to just ask a business owner and not an academic, a bureaucrat or a media economics writer who has a vested interest in making the Obama administration look good. [CLICK HERE TO READ MORE]
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