Posts Tagged ‘decline of the dollar’

Obama Hope N’ Change Now Means No Food, No Fuel And No Roof Over Your Head

April 29, 2011

Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!” (Revelation 6:6).

Messiah Obama wisely understands that we need sky high energy prices to force us to abandon lifestyles that are bad for the world.  That way he can keep the promise he made to the earth: “this was the moment when the rise of the oceans began to slow and our planet began to heal.”  The earth is much bigger than your little children, so Obama can break his competing promises to you and your family.  In fact, your evil if you want him to keep his promises that would prevent him from his messianic duties of healing the whole world.

A gallon of gas was $1.79 when Obama took over from that terrible George Bush.  Unfortunately, it has gone up about 110% under Obama, to $3.88 this week.  Damn that Bush devil!  Can you believe the way he actually wanted to keep the cost of our energy low, so people could do awful stuff like drive to work?  The half of us who sponge off the other half don’t need work, so why should the half we sponge off of?

The United States has more coal than anyone else on the planet by far and away, and half of our nation’s electricity comes from coal.  But America is evil if it uses coal.  Let China build a new coal-fired electricity plant every single week and overtake our economy.  They’ll be bad and our poor, destitute starving children will be good.  That’s why Obama promised liberal San Franciscans, “So if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.”  HERES the system any enlighted American would clearly want: “Under my plan of a cap and trade system, electricity rates would necessarily skyrocket.”  It won’t matter how many Americans die in abject poverty; Obama is just what we needed.

China will overtake the U.S. economy by 2016, they’re saying now.  What’s that, you ask?  They were saying China wouldn’t overtake us until 2018 just a few months ago?  You don’t seem to understand the meaning of the words “funamentally transform” very well, do you?  But they’ll be bad, because they’ll be burning all that oil and coal and we won’t be.  That makes us better.  And so what if we have to freeze in the dark?

And the messiah to the world also knows that if you can afford gasoline, you might be so selfish as to actually drive.  And evil working poor people usually can’t buy expensive and impractical electric cars, so he must force them by making it hurt for them to drive.  That’s why he appointed an energy secretary who has been trying to“figure out how to boost the price of gasoline to the levels in Europe.” .  And of course when gas is $9 a gallon in Germany, Obama has a long way to go to bring Europe to America.  The only tragedy of soaring gas prices, of course, is that Americans might actually hold Obama responsible.  That’s why he answered the question, “Could the high gas prices help us?” by saying, “I think I would have preferred a gradual adjustment.”

We already voted for the “hope and change” of $9 a gallon gas in the wonderful fundamentally transformative election of 2008.  And how dare people get angry about that now!!!

Because Obama in his blessed wisdom knows that most Americans are far, far too stupid to understand anything that happens gradually, such as gas rising to the $8 a gallon levels like they are in Europe.  And it doesn’t really matter how much the American people suffer.  Not compared to healing earth and lowering the seas like Moses.  Obama will be better than Moses; he’ll make the level of the whole ocean change!!!!

And then there are the large families that can’t fit all their kids into an electric car or a hybrid anyway.  Obama is right: they should like kill the extra children or something.  Because children should die so the earth can be happier.

And food?  So what if the price of food is going through the roof?  Michelle Obama will tell you that you’re too fat anyway.  You need to lose a whole lot of weight, and her husband’s policies will give you the help you need.  You shouldn’t be allowed to eat half as much food as you eat, anyway.  They don’t get to eat in North Korea, and it’s a socialist worker’s Utopia.  So why should it be any different in the worker’s Utopia your Dear Leader is trying to create for you here?  North Koreans are 5.3 inches (13.5 cm) shorter and 30 pounds (13.5 kg) lighter than those fat overfed capitalist South Korean bastards.  And American kids should be as short and gaunt as their fellow socialist travellers.

Michelle said of his worshipfulness: “Barack Obama will require you to work. He is going to demand that you shed your cynicism. That you put down your divisions. That you come out of your isolation, that you move out of your comfort zones. That you push yourselves to be better. And that you engage. Barack will never allow you to go back to your lives as usual, uninvolved, uninformed.”  Or full.  Either your stomach or your gas tank.  And I couldn’t agree more.  As we socialists have said in the past, “Arbeit macht frei.”  And just what kind of a bad person are you for not being grateful to him?

I sure hope I’m not putting too much crap in the sandwich I’m feeding you.  Because excrement is a precious commodity in North Korea.  And it should be just as precious here.

But just in case you think the hope and change of Obama’s fundamental transformation is already more than you can bear, it gets even better.  The cost of having a roof over your head is skyrocketing, too.  Which might help you not worry so much about the price of food and the price of fuel.

Renters spending bigger chunk of income on housing
Study says supply of affordable housing has shrunk along with incomes.
Posted by Teresa at MSN Real Estate on Wednesday, April 27, 2011 12:48 PM

Record numbers of Americans are paying more than half of their pretax income for rental housing, according to a new study.

The study, by the Harvard University Joint Center for Housing Studies, found that the recession’s toll on incomes had increased more families’ housing-cost burdens. Almost 26% of renters spend more than half of their income on rent and utilities. Another 26.2% spend 30% to 50% of their incomes.

The study’s findings are similar to the findings of the Center for Housing Policy, which found that working families, both renters and homeowners, were spending a larger proportion of their income on housing. [..]

Lower-income renters have historically struggled to find affordable housing and have paid a disproportionate share of their income in rent. But, according to the study, that problem is moving up the income ladder with more lower-middle-income renters and middle-income renters paying 30% to 50% of their incomes for rent and utilities.  […]

Here’s how The Washington Post summarizes the situation:

The study offers the latest in a series of grim statistics about the scarcity of rental housing, especially for the working poor. The supply has not kept up with demand in part because of a shortage of apartments, a key source of new rentals. Developers cut back on such projects when the economy deteriorated in 2009, which drove down vacancies and boosted rents. Analysts say they expect rents to keep climbing as developers try to ramp up new projects and catch up with demand.

In many areas, the demand is driven by families who lost their homes to foreclosure during the housing bust and ended up searching for rentals. Meanwhile, as the job market recovers, more newly employed young adults appear to be seeking their own apartments instead of living with their parents, putting even more upward pressure on rental rates, according to one of the study’s researchers.

But don’t worry.  Pretty soon, thanks to Obama’s financial policies, you’ll have cash.  Lots and lots of cash.  Wheelbarrows full of it, in fact.

The decline of the U.S. dollar is accelerating rapidly.

Here are a couple of videos worth watching about the exciting fundamentally transformative changes you can hope for coming your way soon!

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China Alarmed By Obama’s Deficits, Shocking Irresponsibility

September 8, 2009

It’s sad that a communist regime quotes our own founding fathers to us, because our President and the party in power has so blatantly ignored their wisdom.  But that’s what happened, as you will see reading the following article:

China alarmed by US money printing
The US Federal Reserve’s policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy, according to a top member of the Communist hierarchy.

By Ambrose Evans-Pritchard, in Cernobbio, Italy
Published: 9:06PM BST 06 Sep 2009

Cheng Siwei, former vice-chairman of the Standing Committee and now head of China’s green energy drive, said Beijing was dismayed by the Fed’s recourse to “credit easing”.

“We hope there will be a change in monetary policy as soon as they have positive growth again,” he said at the Ambrosetti Workshop, a policy gathering on Lake Como.

“If they keep printing money to buy bonds it will lead to inflation, and after a year or two the dollar will fall hard. Most of our foreign reserves are in US bonds and this is very difficult to change, so we will diversify incremental reserves into euros, yen, and other currencies,” he said.

China’s reserves are more than – $2 trillion, the world’s largest.

“Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets,” he added.

The comments suggest that China has become the driving force in the gold market and can be counted on to
buy whenever there is a price dip, putting a floor under any correction.

Mr Cheng said the Fed’s loose monetary policy was stoking an unstable asset boom in China. “If we raise interest rates, we will be flooded with hot money. We have to wait for them. If they raise, we raise.

“Credit in China is too loose. We have a bubble in the housing market and in stocks so we have to be very careful, because this could fall down.”

Mr Cheng said China had learned from the West that it is a mistake for central banks to target retail price inflation and take their eye off assets.

“This is where Greenspan went wrong from 2000 to 2004,” he said. “He thought everything was alright because inflation was low, but assets absorbed the liquidity.”

Mr Cheng said China had lost 20m jobs as a result of the crisis and advised the West not to over-estimate the role that his country can play in global recovery.

China’s task is to switch from export dependency to internal consumption, but that requires a “change in the ideology of the Chinese people” to discourage excess saving. “This is very difficult”.

Mr Cheng said the root cause of global imbalances is spending patterns in US (and UK) and China.

“The US spends tomorrow’s money today,” he said. “We Chinese spend today’s money tomorrow. That’s why we have this financial crisis.”

Yet the consequences are not symmetric.

“He who goes borrowing, goes sorrowing,” said Mr Cheng.

It was a quote from US founding father Benjamin Franklin.

Ever heard the phrase, “own worst enemy”?  That’s the United States, to itself.  Or more particularly, that’s the president of the United States, to the country he’s supposed to be helping.

China can seriously screw us financially; they could literally bankrupt us.  They don’t want to do that, because hurting us would hurt their investment in us.  Yet the subtitle of the article drives the point home: “The US Federal Reserve’s policy of printing money to buy Treasury debt threatens to set off a serious decline of the dollar and compel China to redesign its foreign reserve policy.”  We are pursuing such a fiscally reckless policy that China will be compelled to cut its losses – and truly leave us high and dry.

What Obama is doing is going to gut the U.S. currency, and China is being forced to act like a rat jumping off a sinking ship.  And just to make sure nobody fails to understand: WE’RE the ship that Obama is sinking.

Democrats – flagrant hypocrites that they are – actually had the chutzpah to demagogue Bush for his “fiscal mismanagement.” A lot of Bush’s spending WAS in fact irresponsible – but Democrats complaining about government spending is very much like Stalin complaining about Soviet gulags; it simply flies in the face of any and all reason.

When you realize that Obama’s 2009 deficit – just one year of his spending – is higher than all 8 years of Bush’s deficits COMBINED, it ought to tell you just how shockingly irresponsible Obama and the Democrats are, as well as what appalling hypocrites they are.

Just imagine putting Nancy Pelosi and Howard Dean in a time machine, and launching them six years into the future so they could see that – under total Democrat control – they would spend more than eight times more than George Bush spent in his VERY WORST YEAR.  And then realize that such is the loathsomeness of their characters that they would return to their own time and STILL demagogue Bush for his spending.  It’s just what they are. Hypocrisy is their defining characteristic, to go along with their naked demagoguery.

The danger that the Chinese point to is crystal clear.  Even key Obama-ally Warren Buffett is publicly demanding that Obama and the Democrats cut their spending to avoid massive inflation.

I would argue – in disagreement with Buffett – that we didn’t need to launch into such massive government spending (although we sure bailed out Wall Street-types like Buffett by doing so, didn’t we?).  In the initial panic, the Bush team reacted by spending, as though we could patch the holes of our debt-ruined economy by stuffing them with borrowed money.  But already, by the time Obama launched into his even more massive stimulus, it seemed readily apparent that the government wasn’t getting much of a bang for its buck – unless the “bang” was the bang of a future debt-induced economic implosion.

Think about it from this angle: do you know how small businesses are actually the driving engine of our economy and our job creation?  Well, 98% of small businesses didn’t receive any money from the Obama stimulus at all.  If fact, the National Endowment for the Arts – which recently displayed it’s pro-Obama ideological partisanship – received more stimulus funds than the small businesses that drive our economy.

By selecting Bush-appointee Bernanke to serve another term as the Chairman of the Federal Reserve, Obama was implicitly embracing most of the very Bush policies he had personally and repeatedly demagogued during the campaign.

And now in Obama’s spending we have the very worst of Bush — times EIGHT.

The Chinese are quoting Benjamin Franklin to point out America’s insanity under Barack Obama.

I would suggest another Franklin quote as well: “When the people find that they can vote themselves money, that will herald the end of the republic. “