George W. Bush

Lake County Paper Ridicules Cook County Gun ‘Control’

Going forward, I’ve got to remember to read the Lake County News-Sun’s “Talk of the County” section more often. From the website of the Waukegan, Illinois-based paper last Friday:

Cook County

Cook County has added another tax to penalize legal gun buyers while the criminals continue to break any and all gun control laws.

Yep. Our neighbors to the north pretty much nailed it on the head.

And how about this gem:

Haw, haw

This has to be the grandest April fool joke that the world has ever heard of, or someone is going nuts beyond remedy. President Obama has declared April as National Financial Capability month. Unbelievable! Haw, haw. How incredulous coming from someone who cannot even prepare a budget and who spends borrowed money as if he were leaving the planet!

Funny but sad at the same time.

Especially since, if I recall correctly, President Bush the Second had the same problem when it came to spending.

Haven’t you heard? The nation does have a spending problem.

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

Source:

“Talk of the County.” Lake County News-Sun. 5 Apr. 2013. (http://newssun.suntimes.com/news/19270481-418/talk-of-the-county.html). 10 Apr. 2013.

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Michelle Malkin: Chicago A ‘War Zone’ After Century Of Democratic, ‘Progressive’ Rule

I know someone out there who wants to talk about what they see as incompetent political leadership in the Chicago area.

Enter Michelle Malkin, a conservative blogger, political commentator, and author. The FOX News contributor recently spoke to Cam Edwards over at NRA News, and this is what she had to say about my hometown in a video segment that was published Monday:

It’s contortions of the most astonishing sort. But they’re shameless in blaming the NRA, Second Amendment activists, the Republican Party, George Bush- whatever conservative figure is around to blame. But they’ve had a lock, a monopoly on the “Windy City.” For almost a century now they’ve had their way. And it is ground zero for every last failed social justice experiment. Of course, foremost, gun “control.” And it’s not that they have a lot of it, it’s the most, ever (laughing) in the entire country. And these fatalities, these awful examples of violence go on daily. And it wasn’t until the death of this poor, innocent girl- who just happened to have performed during the Inauguration- that Obama and his team finally felt they needed, or were compelled, to go back to their bloody hometown.

I would think that the people in Chicago would be entirely fed up and disgusted with how they’ve been used as pawns, and how their city continues to be a war zone, even after a century of Democratic, “progressive” rule.

Which isn’t the case, as evidenced by “The Machine” being in power for as long as it has been.


“Malkin: Progressives, Democrats Have Had a 100-Year Monopoly on Running Chicago Into the Ground”
YouTube Video

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

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Peter Schiff Warns The State Of The Union Is ‘A Complete Disaster’

On Tuesday evening, February 12, U.S. President Barack Obama gave his State of the Union address. Two days later on Valentine’s Day, Peter Schiff, the CEO/Chief Global Strategist of Euro Pacific Capital who correctly-predicted the Panic of ’08 and housing crash, critiqued President Obama’s speech. From The Schiff Report YouTube video blog:

Today is Valentine’s Day, although it felt like Valentine’s Day two days ago when President Obama was delivering his State of the Union address. Because really what it amounted to was a Valentine’s gift to the nation where the President tries to buy our affections, or are votes, by promising more free stuff. Something for nothing. By promising that more government can solve our economic problems. Now the President describes the state of the Union as strong. Of course all presidents, when they make that annual pilgrimage up to the Capitol, they always tell us the Union is “sound.” That the Union is “strong.” That’s what George Bush said in 2007, just before the financial crisis, the economic meltdown. They always tell us how great it is, even though we’re on the edge of a precipice.

The fact of the matter is, the Union is anything but strong. It’s a complete disaster. We are staring at an economic crisis much graver than the financial crisis of 2008. Yet, what does President Obama have to say? Basically, nothing. Everything is fine, all we need is a little more government…

It will be interesting to listen to President Obama’s State of the Union address in 2014. Whether or not the economic collapse that I’m forecasting has happened before then still remains to be seen. But I know one thing for sure- we’ll be a year closer to it if it hasn’t happened. And if it hasn’t happened by 2014, it will probably be just around the corner.


“The Real State of the Union- 2013”
YouTube Video

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

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GDP Drop Blamed On Hurricane Sandy, Republicans

In the aftermath of Hurricane Sandy, some talking heads on the TV were saying how the U.S. economy would take a significant hit from all the destruction. I remember turning to my girlfriend and saying, “Well, there’s their out.” I went on to explain that if the economic numbers for the fourth quarter ended up being crummy, the White House would just go ahead and blame Sandy.

So while I was a little surprised to hear about the drop in GDP today (I thought enough “stimulus” was already coursing through the financial system), the same can’t be said about what the White House said this morning. Alan Krueger, Chairman of the Council of Economic Advisers, wrote on The White House Blog today:

According to the “advance” estimate released by the Bureau of Economic Analysis today, real GDP edged down 0.1 percent at an annual rate in the fourth quarter of 2012, amid signs that Hurricane Sandy disrupted economic activity and Federal defense spending declined precipitously, likely due to uncertainty stemming from the sequester. This was the first quarterly drop in real GDP in three-and-a-half years (see first chart below). Over the last fourteen quarters, the economy has expanded by 7.5 percent overall, and the private components of GDP have grown by 10.9 percent. During the four quarters of 2012, real GDP grew by 1.5 percent, the third consecutive year of economic expansion.

(Editor’s note: Italics added for emphasis)

Don’t get me started on that “economic expansion” bit, as it’s been oh-so-terrific for many Americans.

Hurricane Sandy’s economic impact and a decline in government spending last quarter is repeatedly mentioned in the blog post, leading some to believe that the Obama administration is blaming the economic contraction last quarter a good deal on that late October storm and the Republican Party. Reuters’ Mark Felsenthal wrote on Yahoo! News this afternoon:

The White House on Wednesday blamed the surprising contraction of the economy at the end of last year at least partly on Republican “political brinkmanship” for threatening to let defense cuts take effect.

White House spokesman Jay Carney said similar threats over a looming March 1 deadline when defense and other cuts take effect absent a broader budget deal could similarly hurt the U.S. economy and taxpayers.

“This is political brinkmanship with one primary victim, and that is American taxpayers and the American middle class,” Carney said at a briefing.

“Our economy is facing a major headwind … and that’s Republicans in Congress.”

(Editor’s note: Italics added for emphasis)

Since the campaign for the 2008 U.S. Presidential election, Barack Obama and the Democratic Party have consistently blamed George W. Bush and the Republican Party for the nation’s ongoing economic woes (I submit both major political parties are truly at fault and the damage began decades earlier). Believing that this strategy worked to retain the Oval Office in 2012, and based on Carney’s words today, be prepared to hear even more blamethrowing of this type going forward in President Obama’s second term.

In the meantime, the financial house of cards keeps growing more unstable with trillions of dollars of debt being continually heaped upon it.

Hurricane Sandy. The GOP. How about the “stimulus” being injected into the cancer (debt)-ridden patient is perhaps becoming less effective over time? Instead of a strong, sustainable economic recovery, we’re seeing a weak one that’s requiring constant assistance.

What QE are we on again?

Furthermore, Washington and the Fed are “running out of bullets.” It’s somewhat amazing they’ve managed to “kick the can down the road” this far.

Looking back on today’s GDP announcement and related events, it’s apparent the blamethrowers are alive and well in the nation’s capital.

And the proverbial brick wall- or our “financial reckoning day,” as some like to call it- keeps getting closer.

Be advised.

By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Krueger, Alan. “Advance Estimate of GDP for the Fourth Quarter of 2012.” The White House Blog. 30 Jan. 2013. (http://www.whitehouse.gov/blog/2013/01/30/advance-estimate-gdp-fourth-quarter-2012). 30 Jan. 2013.

Felsenthal, Mark. “White House blames Republican ‘brinkmanship’ for GDP contraction.” Reuters. 30 Jan. 2013. (http://news.yahoo.com/white-house-accuses-republicans-brinkmanship-spending-cuts-181022857–business.html). 30 Jan. 2013.

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Crappy Internet Connection Today

Please bear with me as I deal with limited Internet connectivity today.

I had the same problems yesterday as well, which is surprising as my ISP is generally pretty reliable.

More posts will hopefully be published later today.

And yes… I blame Bush.

Thank you for your patience,

Christopher E. Hill
Editor

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Wednesday, November 14th, 2012 Housekeeping No Comments

2012 Election Thoughts

For months now I’ve been saying to those people closest to me that Barack Obama will be reelected as President of the United States of America. Granted, last week I did mention to my girlfriend that Mitt Romney might have a shot at the White House based on analysis done by FOX News and Glenn Beck’s The Blaze TV (these two media outlets need to win back any confidence I had in them as a result). Now that Election Day has come and gone, here are some thoughts about the whole spectacle.

The main reason I kept saying Obama would get reelected as President was that the votes were already “bought and paid for.” A lot of Americans receive government benefits (49.1 percent of Americans lived in a household where at least one member of the family received such benefits in 2011, according to the Wall Street Journal earlier this year). The Obama administration has demonstrated these past four years that it’s willing to provide these benefits (part ideology, part political strategy). If you are someone receiving this, why would you endanger the status quo by voting for someone else who might take it away as part of some publicized push for smaller government living within its means? Where could all this lead to? Full-fledged dependency and eventual bondage, if one buys into the Cycle of the Body Politic.

Young American voters could be more “left-leaning” than their predecessors. How left? Well, “socialist” might not be too far off the mark if one subscribes to the findings of a Pew Research Center survey from December 2011. I wrote back on September 27:

You see, not only am I aware that a good number of Americans aren’t put-off by the idea of socialism anymore, but a recent poll even showed a majority of young Americans aged 18-29 have a positive view of it.

From the Pew Research Center website back on December 28, 2011:

Socialism is a negative for most Americans, but certainly not all. Six-in-ten (60%) say they have a negative reaction to the word; 31% have a positive reaction…

Fully nine-in-ten conservative Republicans (90%) view socialism negatively, while nearly six-in-ten liberal Democrats (59%) react positively.

The poll of 1,521 adults conducted back in early December 2011 revealed that among the 18-29 age group, 49 percent had a positive view of socialism as compared to 43 percent having a negative view.

Is Obama and his White House socialist? I don’t know. Are they “left-leaning?” The available evidence suggests so. Which could be why a lot of young American voters are drawn to the Democrats.

Public sector unions obviously played a big role in this election. I understand that such groups work toward the benefit of their members. However, does such activity work contrary to the common good, destabilizing increasingly financially-challenged public agencies, as critics suggest? Plenty of insolvent government organizations could be available for study shortly.

While incumbent politicians can be more difficult to dislodge from office, President Obama retained the White House despite a dismal economic record in his first term. Measures of (un)employment, food stamps, poverty, budget deficits, national debt, for example, grew increasingly worse over the past four years. I know, what about those “5 million jobs created” the Democrats kept touting during the campaign? Problem is, a closer look at what was “created” reveals a lot of low-paying positions. Burger flippers won’t be spearheading a U.S. economic recovery anytime soon. Perhaps Americans aren’t voting based on their wallets as much anymore. Or perhaps their pocketbooks haven’t been hit hard enough. That may be just a matter of time.

The past four years confirmed for many Americans the transformation of the news media from watchdog journalists to unofficial mouthpieces of the Democratic Party (the press being merely a mouthpiece for any party is bad). I have some journalism experience in my background, and my training included an emphasis on unbiased reporting. Being exposed to the amount of news material I am on a daily basis, it’s all too obvious to me that either that training is no longer given, a refresher course is desperately needed, or today’s journalists just don’t give a damn about it anymore. Sad. The way I look at it, if reporters not assigned to pen an op-ed/column feel the need to express the political creature in them, then get a personal blog! And let’s exchange links. Otherwise, do your country a huge favor and once again occupy the role of the “Fourth Estate”- an independent press. Continue on as the “American Pravda” and suffer the inevitable consequences.

Since Chicago/Cook County/Illinois Democrats play a significant role in running the country, one need only look at where they originate from to get an idea of where they might be taking the country these next four years. Anyone who spends enough time on this blog reading those posts written for my local audience knows exactly where that is:

Into the ground.

While Chicago and Cook County have significant financial woes, the State of Illinois is essentially bankrupt. Too many benefits, too much spending, too little cutbacks, too much borrowing, and now the fee and tax hikes on residents and businesses. It’s going to get ugly in the “Land of Lincoln” real fast. California and Illinois are the two U.S. states competing with each other to go under first as the financial crisis worsens, according to some very smart people. Yet, don’t expect any regime change in “Madiganistan” any time soon. As I wrote back on March 21:

As a result of this redistricting, Democrats could very likely control the state legislature in Illinois for a number of years. Monique Garcia, Alissa Groeninger, and Ray Long wrote on the Chicago Tribune website last night:

Even before unofficial results rolled in, some sitting Republican lawmakers were bound to lose in DuPage County, casualties of the Democratic-drawn state legislative districts. The map is tilted so heavily toward Democrats that the party led by House Speaker Michael Madigan, the Illinois Democratic chairman, is all but ensured November general election victories that could set it on a course to control the General Assembly for the next decade.

And from a Chicago Tribune editorial piece this morning:

Democrats had virtually locked in their Springfield majorities before the first voters cast the first early ballots on Oct. 22. More than half of these legislative races weren’t even contested by both major parties. And while some of the new district boundaries gave Republicans tremendous advantage, the aggregate effect was to keep Illinois and its 12.8 million citizens under one-party rule.

Voters evidently like it that way.

Yes they do. Especially as votes were also “bought and paid for” here in the ‘Stan.

Before this post is misconstrued as being merely some Obama/Democrat-bashing piece, regular readers of the blog know that I foresee a U.S. financial crash at the end of all this “kicking the can down the road.” That being said, at this point in the game, I don’t think it really matters anymore whether the Democrats or Republicans are in charge as it concerns where our economy and larger financial system is eventually heading. Enough damage has already been done (think of the Titanic and her compartments being punctured just enough to guarantee her inevitable demise) that America is fast-approaching a tipping point as both major national political parties make matters worse by refusing to scale back the obscene amounts of government spending when given the chance. If you think about it, when it comes to fiscal policy, both parties have shown to be no better than a two-headed monster. Barack Obama’s economic polices from 2008-2012, in general, were really just an extension of George W. Bush’s economic policies. Spending, stimulus, government intervention, you get the picture. Rather than sit down, have a mature conversation with the nation about the unsustainable track we’re on concerning our finances, and stop the spending, both the Democrats and Republicans continue to pander to Main Street’s desire for more stuff, more benefits, more borrowing, more debt. This time around, Barack Obama and the Democrats won. In the longer run, everyone looks to lose.

In the meantime, congratulations Mr. President and the Democratic Party on your Election Day victory.

Sources:

Izzo, Phil. “Number of the Week: Half of U.S. Lives in Household Getting Benefits.” Real Time Economics. 26 May 2012. (http://blogs.wsj.com/economics/2012/05/26/number-of-the-week-half-of-u-s-lives-in-household-getting-benefits/?KEYWORDS=number+of+the+week). 7 Nov. 2012.

“Illinois Democrats and their realm.” Chicago Tribune. 7 Nov. 2012. (http://www.chicagotribune.com/news/opinion/editorials/ct-edit-legis-1107-20121107,0,2900759.story). 7 Nov. 2012.

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U.S. To Reach $16.4 Trillion Debt Ceiling By End Of Year

The federal government keeps spending… and the nation’s financial health keeps on deteriorating. Rachelle Younglai wrote on the Reuters website last night:

The Obama administration said on Wednesday that the nation would hit the legal limit on its debt near the year’s end, although it can tap emergency measures to stave off a default and keep the government running into early 2013.

As of Monday, the U.S. Treasury was $235 billion below the $16.4 trillion statutory ceiling on the amount it can borrow. That gives the government enough funds to pay its bills, including interest on its debt and retirement health benefits, until the end of the year, the Treasury said, reiterating a forecast it made in August.

So, the U.S. national debt is on track to reach $16.4 trillion by the end of 2012.

As I pointed out back on September 4 when the Treasury Department revealed the debt had surpassed $16 trillion:

When President George W. Bush took office, the national debt stood at $5.768 trillion.

By the time President Barack Obama occupied the White House, the national debt had risen significantly to $10.626 trillion.

During the Bush 2.0 administration, the national debt increased by $4.858 trillion.

So far in the Obama administration, the national debt has increased by $5.39 trillion.

Make that last figure around $5.8 trillion by the end of this year.

Our “financial reckoning day” is fast-approaching…

Source:

Younglai, Rachelle. “UPDATE 3-U.S. gov’t poised to hit debt limit before 2013.” Reuters. 31 Oct. 2012. (http://www.reuters.com/article/2012/10/31/usa-debt-idUSL1E8LV2LU20121031). 1 Nov. 2012.

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Romney 1, Obama 0

Just got done watching the first in a series of U.S. Presidential debates between former Massachusetts Governor Mitt Romney and the sitting President Barack Obama.

This one was no contest. Romney spanked Obama.

The Republican candidate was articulate, appeared knowledgeable (the mainstream news outlets are unleashing their “truth squads” as I type this), and attacked his opponent with growing intensity as the evening went on.

Not only was Romney in the driver’s seat, but he seemed to be enjoying the ride as well.

President Obama, on the other hand, didn’t look like he wanted to be there, was not articulate, and didn’t put up much of a defense against Romney’s attacks.

In fact, summing up Obama’s talking points for the evening might look something like this:

• My Republican predecessor caused a lot of the nation’s problems
• I’m all about the middle class
• We need to be fair, but we need more revenue
• The rich have been successful, so let’s tax them to redistribute some of that money they’ve earned
• Obamacare is the way to go
• Improving education will make us prosperous

Finally, Obama kept trying to hammer his Republican opponent for not going into the details of a number of plans he’s proposing.

However, politicians, for the most part, know better than to fall for this should they be held accountable for something that’s said should they get elected.

Being vague here tends to be the general rule of thumb.

As soon as the night was wrapped up, I turned to MSNBC on the satellite TV to see their reaction.

Even Chris Matthews was declaring Romney the winner in this showdown.

Changing over to one of the local Chicago television stations, I happened to catch a “political analyst” declaring President Obama had won the debate.

Not really too surprised to hear that, considering it’s the U.S. President’s adopted hometown we’re talking about here, and a city, county, and state chock-full of dyed-in-the-wool Democrats.

Judging by the look in Barack Obama’s face at the end of the night, I’m guessing he’s going to come out swinging the next time around. And I hope he does. Because it will make the next debate all the more interesting to watch.

And if I get the chance to watch that one I’ll call it as I see it too.

In the meantime, enjoy the forthcoming White House spin as it regards the President’s performance tonight.

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U.S. National Debt Surpasses $16 Trillion

Talk about bad timing for the Democrats. As the Democratic National Convention gets underway in Charlotte, North Carolina, the Treasury Department has revealed the U.S. national debt is now over $16 trillion. From Damian Paletta a short while ago on the Washington Wire blog on the Wall Street Journal website:

Total U.S. government debt eclipsed $16 trillion for the first time Friday, new government data show, as total federal borrowing continues marching toward the $16.394 trillion borrowing limit.

The Treasury Department said total government debt hit $16,015,769,788,215.80 on Friday, up $25 billion from the day before. The amount of federal debt subject to the borrowing limit is actually slightly less, as it doesn’t include several types of borrowing, and it stood at $15.977 trillion on Friday.

When President George W. Bush took office, the national debt stood at $5.768 trillion.

By the time President Barack Obama occupied the White House, the national debt had risen significantly to $10.626 trillion.

During the Bush 2.0 administration, the national debt increased by $4.858 trillion.

So far in the Obama administration, the national debt has increased by $5.39 trillion.

Source:

Paletta, Damian. “U.S. Debt Now Exceeds $16 Trillion.” Washington Wire. 4 Sep. 2012. (http://blogs.wsj.com/washwire/2012/09/04/u-s-debt-now-exceeds-16-trillion/). 4 Sep. 2012.

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U.S. Going To War With Iran Before Election Day?

I’ve been saying this for a number of years now to anyone who would listen:

The Islamic Republic of Iran will obtain a nuclear weapon- unless military action by Israel/the United States/some coalition prevents them from getting it.

And now it appears Iran is closer to having “the bomb” than previously thought.

Barak Ravid reported on the Haaretz (Israel’s oldest daily newspaper) website on Tuesday:

New intelligence information obtained by Israel and four Western countries indicates that Iran has made greater progress on developing components for its nuclear weapons program than the West had previously realized, according to Western diplomats and Israeli officials who are closely involved in efforts to prevent Iran from building a nuclear bomb.

(Editor’s note: Italics added for emphasis)

Just an Israeli newspaper trying to stir things up? Not sure- Haaretz is supposedly a left-leaning rag. And we’re not exactly talking about a fly-by-night operation here either (paper founded 1918).

Supposedly, the White House is aware of Iran’s progress. Ravid added today:

President Barack Obama recently received a new National Intelligence Estimate report on the Iranian nuclear program, which shares Israel’s view that Iran has made surprising, significant progress toward military nuclear capability, Western diplomats and Israeli officials have informed Haaretz.

This NIE report on Iran was supposed to have been submitted to Obama a few weeks ago, but it was revised to include new and alarming intelligence information about military components of Iran’s nuclear program. Haaretz has learned that the report’s conclusions are quite similar to those drawn by Israel’s intelligence community.

The NIE report contends that Iran has made surprising, notable progress in the research and development of key components of its military nuclear program.

Based on the history of both the Bush and Obama administrations on this issue, military action against Iran’s nuclear facilities- basically, war with Iran- is probably the last thing this White House wants. Especially this close to the November election.

But what if the United States were dragged into a shooting match with the Islamic republic… before Election Day?

Sefi Rachlevsky wrote on the Haaretz website on Tuesday:

In private talks, Prime Minister Benjamin Netanyahu and [Ehud] Barak reiterate the logic behind going to war against Iran at this time. They claim that the aim of conducting a war now is to drag the United States into it, contrary to the Americans’ wishes.

The logic is simple. According to Netanyahu and Barak, Israel has the military power to delay Iran’s nuclear project by only one year. This is the up-to-date estimate based on operations research by the body in charge of the matter in Israel: the air force. There is no significance to a delay of that length. There is, however, a force that can stop the Iranian project militarily: the United States. The problem, Netanyahu says, is that the U.S. administration is not willing to do so.

The solution is simple. A moment before the U.S. presidential elections, when Mitt Romney – the candidate of Netanyahu’s patron, Sheldon Adelson – is breathing down Barack Obama’s neck, and in the wake of the large number of casualties and the extensive damage that the Iranian response is likely to cause in the region and particularly in Israel, the American president will have no choice but to order his armed forces to join in the war.

Netanyahu is gambling that if Obama does not do so, he will lose the elections. Then Romney will replace him and, as a token of gratitude, will complete the military work. And if the gamble fails? For that there is no backup plan.

(Editor’s note: Italics added for emphasis)

Interesting- and scary- stuff from Haaretz.

And only 89 days until the election.

Sources:

Ravid, Barak. “New intelligence reveals Iranian military nuclear program advancing faster than previously thought.” Haaretz. 7 Aug. 2012. (http://www.haaretz.com/news/diplomacy-defense/new-intelligence-reveals-iranian-military-nuclear-program-advancing-faster-than-previously-thought.premium-1.456426). 9 Aug. 2012.

Ravid, Barak. “Obama gets new U.S. NIE: Iran making surprising progress toward nuclear capability.” Haaretz. 9 Aug. 2012. (http://www.haaretz.com/news/diplomacy-defense/obama-gets-new-u-s-nie-iran-making-surprising-progress-toward-nuclear-capability.premium-1.456921). 9 Aug. 2012.

Rachlevsky, Sefi. “The secret behind an Iran war order.” Haaretz. 7 Aug. 2012. (http://www.haaretz.com/print-edition/opinion/the-secret-behind-an-iran-war-order.premium-1.456524). 9 Aug. 2012.

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Thursday, August 9th, 2012 Foreign Policy, Government, Middle East, Military, War No Comments

Peter Schiff: Obama ‘A Socialist At Heart’

One last mention of Peter Schiff before I move on. Last Friday RT interviewed Schiff, in which the “crash prophet” talked about the political aspect of our current economic woes and what he sees down the line. From the exchange:

The truth is, Obama is merely continuing and expanding the failed policies of George Bush. And unless Romney understands that, and articulates it- you know, I don’t think there’s much hope that a President Romney is going to alter our fate either. I think it’s going to be more of the same. I do believe that Romney will be less bad than Obama, and I think that we have a better chance of when the next crisis hits- when the real crash comes- I think it’s better to have Romney at the helm than Obama. Because I think Romney at least philosophically is in favor of free markets and capitalism- even if he doesn’t completely understand how they work. I think Obama is philosophically opposed to it. I think he’s a socialist at heart, and he likes it when he believes the free market is failing, because he sees that as an excuse for more government, to try and reshape America in this socialist utopia that lives in the fantasy of his mind.

Accusing the U.S. president of being a “socialist at heart” on RT, “the first Russian 24/7 English-language news channel which brings the Russian view on global news.” Kind of funny.

Of more interest to this blog, the author of the recently-released The Real Crash: America’s Coming Bankruptcy— How to Save Yourself and Your Countryicon talked about the perception of the U.S. dollar as a “safe haven.” From the interview:

I think that the dollar and the Treasury market, when it comes to safe havens, are going to be the Facebook of safe havens, because a lot of people wanted to buy Facebook on the IPO. They were really excited about it. They thought it was great. But once they owned it, and they took a look at what they owned, and they looked at the fundamentals, they realized it wasn’t so great. And they wanted to get out. The same thing is going to happen to people who are buying dollars, because they think it’s a safe haven from European debt.

America is more deeply in debt than Europe, and less likely to repay without resorting to massive money printing.

And if you think there’s going to be a lot of money printing, that is not a reason to want to own Treasuries or dollars. That is a reason to get as far away from the U.S. dollar and the Treasury market as you can.


“Peter Schiff RT America Interview – 01 – 06 – 2012”
YouTube Video

(Editor’s notes: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein; info added to “Crash Prophets” page)

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QE2 Cartoon

Just wanted to share with you a funny cartoon about QE2 that my girlfriend forwarded to me. She thought it was more scary than amusing, however.

After watching this, I can understand why Goldman Sachs employees reportedly have been buying guns.

“Quantitative Easing Explained”
YouTube Video Link

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Christopher E. Hill, Editor
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