The Cloward And Piven Presidency

What is Cloward and Piven, you ask?  I’ve written about it and Obama’s connection to it before.  Allow me to cite the same information I provided in 2009:

From Discover The Networks:

First proposed in 1966 and named after Columbia University sociologists Richard Andrew Cloward and Frances Fox Piven, the “Cloward-Piven Strategy” seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse. […]

The key to sparking this rebellion would be to expose the inadequacy of the welfare state. Cloward-Piven’s early promoters cited radical organizer Saul Alinsky as their inspiration. “Make the enemy live up to their (sic) own book of rules,” Alinsky wrote in his 1972 book Rules for Radicals. When pressed to honor every word of every law and statute, every Judaeo-Christian moral tenet, and every implicit promise of the liberal social contract, human agencies inevitably fall short. The system’s failure to “live up” to its rule book can then be used to discredit it altogether, and to replace the capitalist “rule book” with a socialist one.

Newsmax offers a further description of Clowar-Piven, and raises the very real possibility that Obama not only studied the strategy, but in fact even studied under Richard Cloward:

Their strategy to create political, financial, and social chaos that would result in revolution blended Alinsky concepts with their more aggressive efforts at bringing about a change in U.S. government. To achieve their revolutionary change, Cloward and Piven sought to use a cadre of aggressive organizers assisted by friendly newsmedia to force a re-distribution of the nation’s wealth. It would be telling to know if Obama, during his years at Columbia, had occasion to meet Cloward and study the Cloward-Piven Strategy.

On my own view, Obama has a “win we win, lose we win” strategy. To wit, the Obama administration and the Democrat Party are pursuing incredibly risky policies across the board. If the country and the economy somehow manages to survive these measures (which I would compare to a man surviving a poisoning), Obama and the Democrats will claim victory. If, on the other hand, the entire national system collapses due to these shockingly terrible policies, the liberals believe that a terrified, hungry public will turn to the government for help – and allow the statists to restructure the nation into a completely socialist system.

I have talked about Obama directly using the Cloward and Piven strategy to implode America in the past (and see):

Politico Article Reveals Obama’s Cloward-Piven Strategy Backfiring

ObamaCare Just Another Leftist Attempt To Bankrupt America (Cloward And Piven Alert)

Obama’s Cloward-Piven Redistributionism Shaping The Future Collapse

Cloward-Piven Alive And Well: Progressives CONTINUE To Push For Destruction Of U.S. System

I have also provided direct evidence that Obama-allied liberals are directly trying to produce the collapse of the American financial system.  And I cited the following article in my own:

CAUGHT ON TAPE: Former SEIU Official Reveals Secret Plan To Destroy JP Morgan, Crash The Stock Market, And Redistribute Wealth In America
Henry Blodget | Mar. 22, 2011, 9:44 AM

A former official of one of the country’s most-powerful unions, SEIU, has a secret plan to “destabilize” the country.

The plan is designed to destroy JP Morgan, nuke the stock market, and weaken Wall Street’s grip on power, thus creating the conditions necessary for a redistribution of wealth and a change in government.

The former SEIU official, Stephen Lerner, spoke in a closed session at a Pace University forum last weekend.

The Blaze procured what appears to be a tape of Lerner’s remarks. Many Americans will undoubtedly sympathize with and support them. Still, the “destabilization” plan is startling in its specificity, especially coming so close on the heels of the financial crisis.

Lerner said that unions and community organizations are, for all intents and purposes, dead. The only way to achieve their goals, therefore–the redistribution of wealth and the return of “$17 trillion” stolen from the middle class by Wall Street–is to “destabilize the country.”

Lerner’s plan is to organize a mass, coordinated “strike” on mortgage, student loan, and local government debt payments–thus bringing the banks to the edge of insolvency and forcing them to renegotiate the terms of the loans. This destabilization and turmoil, Lerner hopes, will also crash the stock market, isolating the banking class and allowing for a transfer of power.

Lerner’s plan starts by attacking JP Morgan Chase in early May, with demonstrations on Wall Street, protests at the annual shareholder meeting, and then calls for a coordinated mortgage strike.

Lerner also says explicitly that, although the attack will benefit labor unions, it cannot be seen as being organized by them. It must therefore be run by community organizations.

In former SEIU Lerner’s own words at this liberal think-tank event:

Unions are almost dead we cannot survive doing what we do but the simple fact of the matter is community organizations are almost dead also and if you think about what we need to do it may give us some direction which is essentially what the folks that are in charge – the big banks and everything – what they want is stability

Every time there is a crisis in the world they say, well, the markets are stable.

I have repeatedly documented and explained how the 2008 financial crisis was created almost ENTIRELY by Democrats who repeatedly refused to allow Bush or Republicans in Congress to do ANYTHING to avert a disaster they saw coming:

DEMOCRATS Set Up America For 2008 Collapse, And Barack Obama Became Their KING

More Proof Democrats Destroyed The Economy In 2008: The Ongoing Fannie Mae/Freddie Mac Disaster

Why Did Our Economy Melt Down In 2008? (Email This To Your Friends)

It Was DEMOCRATS Who Blew Up Our Economy In 2008

Barney Frank And Democrat Party Most Responsible For 2008 Economic Collapse

Democrat Lies About Their Key Role In 2008 Economic Collapse Reaches Laughable Proportions

How Should Democrats Eat The Half-Trillion $ Monsters Fannie And Freddie? One Bite At A Time

Barney Frank Video Proves Democrats At CORE Of 2008 Economic Collapse

AEI Article: How Fannie And Freddie Blew Up The Economy

With Eyes Finally Wide-Open, Reconsider Why The Economy Collapsed In The First Place

Who REALLY Exploded Your Economy, Liberals Or Conservatives?

Biden: ‘We Misread the Economy’ – And it’s all the Republicans’ Fault

Selective Liberal Outrage: Fannie’s $210 Million In Bonuses A-OK

Blaming Republican ‘Obstructionism’ For America’s Economic Problems Is A Demonic Lie. Let’s Look At The REAL Obstructionists.

Who’s To Blame For The Economic Mess We’re In? Two Views.

JP Morgan And MF Global Prove That Democrat Regulations DON’T WORK. Democrats Create Disasters And Then Run By Demagoguing Those Disasters.

Barack Obama And His Fascist Crony Capitalist Connections To MF Global, Goldman Sachs, JP Morgan Chase, Citigroup – And A Coming $600 Trillion Collapse

With that accusation in mind, here is a liberal SEIU guy – and let’s not forget what Obama had to say about his intimate relationship with SEIU –

Obama to SEIU: “Your agenda is my agenda.” And as you shall see, their “agenda” which is being pursued by proxy is to implode America.

– saying the following.

The recorded words of now former senior level SEIU official Stephen Lerner at Pace University:

“Unions are almost dead we cannot survive doing what we do but the simple fact of the matter is community organizations are almost dead also and if you think about what we need to do it may give us some direction which is essentially what the folks that are in charge – the big banks and everything – what they want is stability.

Every time there is a crisis in the world they say, well, the markets are stable.

What’s changed in America is the economy doing well has nothing to do with the rest of us

They figured out that they don’t need us to be rich they can do very well in a global market without us so what does this have to do with community and labor organizing more.

We need to figure out in a much more through direct action more concrete way how we are really trying to disrupt and create uncertainty for capital for how corporations operate.

The thing about a boom and bust economy is it is actually incredibly fragile.

There are actually extraordinary things we could do right now to start to destabilize the folks that are in power and start to rebuild a movement.

For example, 10% of homeowners are underwater right their home they are paying more for it then its worth 10% of those people are in strategic default, meaning they are refusing to pay but they are staying in their home that’s totally spontaneous they figured out it takes a year to kick me out of my home because foreclosure is backed up.

If you could double that number you would you could put banks at the edge of insolvency again.

Students have a trillion dollar debt

We have an entire economy that is built on debt and banks so the question would be what would happen if we organized homeowners in mass to do a mortgage strike if we get half a million people to agree it would literally cause a new financial crisis for the banks not for us we would be doing quite well we wouldn’t be paying anything.

In other words, I have often contended that Democrats created the 2008 crisis.  And I literally have them ON TAPE strategizing about trying to do the same thing again.

I’ve directly stated that ObamaCare was an example of a Cloward and Piven-style strategy that would bankrupt America and thus create the need for the government to nationalize and take over the entire health care system.

I was right.  Read the following:

Obama Admin. to Implement Parts of Health Law
CBNNews.com
Tuesday, June 19, 2012

The Obama administration said will implement parts of its health care law, even if the U.S. Supreme Court strikes down major portions of the legislation.

The high court is set to release its decision in coming days, and it may strike down the whole law or just the individual mandate that requires Americans to buy health care insurance.

If only the mandate is struck down, that will still leave in place a major expansion of Medicaid and federal tax credits to help people purchase insurance.

Critics say those policies will lead to a huge increase in the federal debt.

But the administration said it is moving forward to put those policies in place no matter what the court decides.

“We do believe it’s constitutional, and we … hope and expect that’s the decision the court will render,” senior adviser David Plouffe told ABC News on Sunday.

“We obviously will be prepared for whatever decision the court renders,” he said.

Administration officials have declined to discuss contingency plans to avoid creating the impression that the president is preparing for a high court rebuke.

If ObamaCare gets struck down, Obama – who is now being described as an “imperial president” and “another Nixon” even by the left – is going to simply ignore the Supreme Court and abrogate the power of Congress and enact it anyway.

I’ve also repeatedly pointed out that Barack Hussein Obama is a raw, naked fascist.  There is no question that Obama has disregarded both Congress and the Supreme Court and imposed himself as an emperor.  Consider that Obama made what he called “recess appointments” when Congress by its own Democrat Party-passed rules wasn’t even in recess; consider how Obama issued waivers to the No Child Left Behind LAW if states followed Obama’s policies instead; consider Obama declaring that he would simply ignore constitutionally passed by Congress and signed by the President such as the Defense of Marriage Act; consider how Obama first forced loans to campaign contributors at green firms such as Solyndra and then pressured the Solyndra Board to hold off on layoffs until it was more politically convenient for him;  consider how Obama has outright refused any and all oversight by the Congressional Oversight Committee on matters such as Fast and Furious.  All that and more in addition to what he just did ignoring the LAW on illegal immigration and imposing his own substitute for binding law by act of executive tyranny.  And I was right about that, too.  But let’s stick to ObamaCare for the time being. 

What’s going to happen if the Supreme Court strikes down ObamaCare and Obama ignores the Constitution, the rule of law, the Supreme Court and Congress and imposes it anyway is this: it will force the private insurance industry to either go bankrupt (as he also verbally promised to do to energy providers once, for what that’s worth) or they will be forced out of the industry altogether.

If – or we can now still say “when” given what Democrats are saying Obama is going to do – that happens, the health care delivery system will completely implode and either millions of Americans will literally die deaths caused by medical neglect or the government will be “forced” to step in and nationalize health care.

I say “forced” in quotes because it will be analogous to Adolf Hitler being “forced” to attack Poland after fabricating a ruse of a Polish attack to rhetorically justify his action.  Obama will have fabricated the very conditions that would “force” him to take this action.

I state as a fact that Democrats have degenerated into the sort of weasels who will deliberately create economic or medial catastrophes and then impose their government fascism while blaming the very opposition that tried – albeit at times gutlessly – to prevent the collapse that Democrats created.

Richard Andrew Cloward would have been thrilled at the impending collapse.  Frances Fox Piven is still calling for the Arab Spring- style popular uprising and its accompanying reign of terror complete with violence, and it’s looking more and more like she’ll be getting her wish.

It is past obvious that this country can not survive as a democratic republic with this “imperial president” in power.  It is also past obvious that if Americans re-elect Obama this year, it will be “fundamentally transformed” from the most powerful nation in the history of the world to just another banana republic by the time he leaves office.

‘Independent’ NLRB My Foot: Obama Agency Pounds NLRB To Destroy Business’ Right To Locate In Right To Work States

The White House has been hiding behind the assertion that the National Labor Relations Board is an “independent” agency, and that they have nothing whatsoever to do with the lawsuit attacking Boeing for building a new plant in right-to-work state South Carolina:

White House Dodges Questions About NLRB’s Complaint Against Boeing
Posted by: Carter Wood under Briefly Legal, Economy, Labor Unions on May 11, 2011 @ 6:43 pm

From today’s White House press briefing conducted by Jay Carney:

Q    Boeing CEO Jim McNerney, who chairs the President’s Export Council, said the National Labor Relations Board suit against his company for building a plant in a right-to-work state is a fundamental assault on capitalism.  I’m wondering is the President aware of the issue, and does he think the government should be involved in how businesses allocate capital or resources?MR. CARNEY:  Well, it’s obviously been in the news, so we are aware of it, but I would refer any questions about it to the NLRB because it is an independent agency, and we do not get involved in particular enforcement matters of independent agencies.

Q    The President has weighed in on outside issues before, though.  I mean is this something — it’s also coming from someone who is chairing the Export Council, who’s saying this is hurting job creation.

MR. CARNEY:  I don’t have a reaction to this from the President.  And I think the fact that he’s weighed in on outside issues doesn’t mean that he will weigh in on an independent agency’s enforcement action.

Carney then changed the subject to tout the President’s record on the auto industry and hail the growth of manufacturing.

Well, first of all, let me take a moment to ask a question: why is Obama dodging this issue rather than claiming credit for it?  Because it’s wrong; it is un-American; and this radical hard-core union agenda action will hurt the economy by forcing businesses to locate overseas.  If they can’t build factories where they want to in America, then they will go overseas to where they have the freedoms our soldiers fought for.  Amazingly, communist China is actually far more free market and pro-capitalist than the Obama administration.

Now let me get to my main point.

Like absolutely everything else from this lying president and this lying White House, BULLCRAP.  Not only is it absolutely true that Obama has weighed in on virtually every issue under the sun – including bizarre issues such as the “stupidity” of the Cambridge Police Department in Massachusetts – but we now have it in WRITING that the NLRB is anything but an “independent agency.”

Let’s take a look at just how “independent” the NLRB actually is.  First, we find that the agency’s top officials are literally partisan political hacks out there taking partisan political sides to attack Obama’s Republican opponents.  Then – given that obvious appearance of any lack of “independence” – the White House’s OMB literally orders the NLRB to take down the attacking memo and demands that they clear everything with them first.  Which actually goes about as far as you can go to demonstrate that the National Labor Relations Board – which Obama PACKED with radical leftist union types by bypassing even a Democrat-controlled US Senate – is marching to Obama’s drumbeat.  And then, if that isn’t enough, when the NLRB did Obama’s bidding to take down the partisan hack memo, the notice basically said, “The content in this statement has been removed. For further information on this subject, please see what our Messiah Obama says, as we’re really just his minions anyway.”

“Independence” my butt:

Obama official ordered labor board to pull rebuke of GOP budget
By Kevin Bogardus – 05/29/11 07:40 AM ET

The Office of Management and Budget (OMB) had an independent agency take down a stinging press release aimed at the House Republicans’ budget proposal, according to a newly released document.

In an e-mail obtained by The Hill under a Freedom of Information Act request, an OMB official told a National Labor Relations Board (NLRB) officer she should have checked before sending out a Feb. 18 press release titled, “Top NLRB officials respond to House budget proposal.”

The NLRB statement slammed what was then the GOP’s proposed continuing resolution to fund the government for the rest of fiscal year 2011.

On the day the labor board’s statement was published, Michael Lazzeri, OMB’s examiner for the NRLB, wrote to Shanti Ananthanayagam, the labor board’s budget officer, and asked her to take it down.

“In case didn’t get my vmail. That press release needs to come down from your website. In the future you guys have to clear that stuff with us,” Lazzeri wrote to Ananthanayagam in the e-mail.

The press release quoted NLRB Chairwoman Wilma Liebman and Lafe Solomon, the board’s acting general counsel, as saying the funding cuts would lead to agency delays and “would occur at a great cost to working people and responsible employers trying to survive in this difficult economic climate, and would have the potential to destabilize relations between labor and business.”

They also said the proposed budget cuts would reduce the agency’s annual funding by 18 percent, or $50 million, which could lead to furloughs for all of the labor board’s 1,665 employees for 55 workdays.

The press release was subsequently taken down. In its place on the labor board’s website is a bland statement that says, “The content in this statement has been removed. For further information on this subject, please see the President’s Statement of Administration Policy (SAP) regarding the budget, which can be found on the OMB website.”

OMB asking the labor board to take down the press release was first reported by The Huffington Post.

Asked why the press release was taken down, a spokeswoman for the labor board referred questions to OMB.

“In accordance with longstanding clearance procedures in Circular A-11, agencies are asked to clear such comments through OMB. In this case, the language on budget-related legislation had not been cleared, so it was taken down,” said Meg Reilly, an OMB spokeswoman.

Circular A-11 is a memo sent by OMB to federal agencies regarding the president’s budget proposal. The memo states that communications to Congress or the media about the president’s budget proposal need to receive clearance from OMB before being sent out, including “proposed press releases relating to the president’s budget.”

Despite the fears the labor board expressed in the original press release, the Republican-proposed budget cuts for the agency did not come to pass.

In the compromise deal to prevent the government shutdown, the labor board’s annual $282 million budget received only a 0.2 percent haircut — a reduction in line with other administrative agencies. The cut took $500,000 from the NRLB’s fiscal year 2011 funding.

Further, an amendment to the continuing resolution by Rep. Tom Price (R-Ga.) that would have defunded the labor board entirely failed to pass earlier this year. Sixty House Republicans voted against axing the labor board’s budget in a 176-250 vote.

The agency has recently become a source of controversy. NRLB’s April 20 complaint against Boeing for allegedly retaliating against union workers has incensed GOP lawmakers and business groups.

Under scrutiny is Boeing’s decision to establish a second production line for its new Dreamliner jet in South Carolina — a right-to-work state that generally prohibits mandatory union membership or dues — instead of in Washington state, where Boeing has unionized operations.

The labor board cited statements made by Boeing executives expressing fear that work stoppages could hurt production as the reason the complaint was issued.

Republicans in both the House and Senate have threatened to hold up Solomon’s nomination as general counsel over the Boeing complaint and are pressing the NRLB to hand over the documents that explain the reasoning behind it.

Democrats have defended the labor board from the attacks. They say it is an independent agency that is performing a law enforcement action and should be free of political pressure.

The complaint is set to go before an administrative law judge at a June 14 hearing in Seattle.

“Should be fre of political pressure”?  In the age of Obama?  Not likely.  He is a fascist.  Fascism is simply one viral species of socialism.  And “NAZI” stood for “National Socialist German Worker’s Party“).  Obama is waaaaaayyyyyy on the left side with the SEIU Andy Stearns (“Because workers of the world unite it’s not just a slogan anymore“; and “We’re trying to use the power of persuasion. And if that doesn’t work, we’re going to use the persuasion of power “) and SEIU Stephen Lerner (“There are actually extraordinary things we could do right now to start to destabilize the folks that are in power and start to rebuild a movement“; “you could put banks at the edge of insolvency again“).  The mantra of Obama’s labor union buddies is “Forget about the law.”  These are people who are perfectly willing to “Get a little bloody” to get their way – no matter who else gets hurt or how badly. And Obama has been deeply involved behind the scenes in stirring up rowdy unrest in states like Wisconsin and Ohio.  Obama is one of them.

And to the extent that Obama is dishonest about his deep involvement in hard-core leftist union agenda issues, that aint a good thing.

Obama, the White House, and Democrats in general ROUTINELY lie.  These are the type of people who disingenuously, falsely and maliciously attack Republicans with “Mediscare” tactics when in fact Republicans are trying to save Medicare while Democrats are intent on seeing the system collapse into total bankruptcy while they attack anybody who tries to prevent that documented future fact from happening.

The National Labor Relations Board case – again, said board packed by Obama behind the US Senate’s back – against Boeing is a case against business.  It is a case against freedom.  It is a case against America.  It is a case against everything this country stands for.  It is certainly a case against the right to work without having to say “Yes sir” and “No Ma’am” to a union boss.  The unions want to have the power to shut down any business that doesn’t toe their socialist line – as they have repeatedly done with Boeing.  They would rather corporations relocate all their operations overseas than see those corporations build plants in right to work states.

I can understand why this fascist president wouldn’t want the American people to really know what he stands for and what he is doing to destroy their way of life.

 

Actual U.S. Debt Exceeds GDP Of Entire Planet

Here’s one for you to put in your pipe to smoke on.  Even if the U.S. were to seize the wealth of the entire planet, and even if we taxed all the wealth of not only the rich but the miserably poor as well, we STILL couldn’t pay off the debts that Democrats demand that we keep adding to until after we’ve reached that “straw that broke the camel’s back” point:

True U.S. debt exceeds world GDP by $14 trillion
Obama 2010 budget deficit now 5 times larger than nation’s output
Posted: March 21, 2011
By Jerome R. Corsi

As the Obama administration prepares to finance a Fiscal Year 2011 budget  deficit expected to top $1.6 trillion, the American public is largely unaware that the true negative net worth of the federal government reached $76.3 trillion last year.

That figure was five times the 2010 gross domestic product of the United States and exceeded the estimated gross domestic product for the world by approximately $14.4 trillion.

According to the U.S. Department of Commerce Bureau of Economic Analysis, U.S. GDP for 2010 was $14.861 trillion. World GDP in 2010, according to the International Monetary Fund, was $61.936 trillion.

“As government obligations continue to spiral out of control and the U.S. government shows no willingness to make the magnitude of spending cuts required to return to fiscal responsible, the U.S. economy is headed to a great collapse coming in the form of a hyper-inflationary great depression,” says economist John Williams, author of the website Government Shadow Statistics.

Statistics generated in Williams’ most recent newsletter demonstrate the real 2010 federal budget deficit was $5.3 trillion, not the $1.3 trillion previously reported by the Congressional Budget Office, according to the 2010 Financial Report of the United States Government as released by the U.S. Department of Treasury Feb. 26, 2010.

The difference between the $1.3 trillion “official” 2010 federal budget  deficit numbers and the $5.3 trillion budget deficit based on data reported in  the 2010 Financial Report of the United States Government is that the official  budget deficit is calculated on a cash basis, where all tax receipts, including  Social Security tax receipts, are used to pay government liabilities as they  occur.

The calculations in the 2010 Financial Report are calculated on a GAAP basis  (Generally Accepted Accounting Principles) that includes year-for-year changes  in the net present value of unfunded liabilities in social insurance programs  such as Social Security and Medicare.

Under cash accounting, the government makes no provision for future Social  Security and Medicare benefits in the year in which those benefits accrue.

“The broad GAAP-based federal deficits, including the Social Security and  Medicare unfunded liabilities, have been in the $4 trillion to $5 trillion range  in 2008 and 2009, and 2010’s deficit again likely was near $5 trillion,  remaining both uncontrollable and unsustainable,” Williams wrote.

“The federal government cannot cover such an annual shortfall by raising  taxes, as there are not enough untaxed wages and salaries or corporate profits  to do so,” he warned.

In his analysis of the 2010 Financial Report of the United States, Williams  listed both an official accounting and an alternative.

“The estimate of a broad 2010 GAAP-based deficit at $5 trillion is mine,” he  noted. “At issue with the published report, consistent year-to-year accounting  was not shown, with a large, one time reduction in reported 2010 Medicare  liabilities, based on overly optimistic assumptions of the impact from recently  enacted health care legislation.”

U.S. Government GAAP Accounting  Federal Budget Deficits U.S. Treasury, Financial Report of the United States,  2002-2010 (John Williams, Shadow Government Statistics, ShadowStats.com)

Williams argues the total U.S. obligations, including Social Security and  Medicare benefits to be paid in the future, have effectively placed the U.S.  government in bankruptcy, even before we take  into consideration any future and continuing social welfare obligations that may  be embedded within the Obama administration’s planned massive overhaul of health  care.

“The government cannot raise taxes high enough to bring the budget into  balance,” Williams said. “You could tax 100 percent of everyone’s income and 100  percent of corporate profits and the U.S. government would still be showing a  federal budget deficit on a GAAP accounting basis.”

Williams argues the U.S. government has condemned the U.S. dollar to “a  hyperinflationary grave” by taking on debt  obligations that will never be covered by raising taxes and/or by severely  slashing government spending that has become politically untouchable.

“Bankrupt sovereign states most commonly use the currency printing press as a  solution to not having enough money to cover  obligations,” he cautioned. “The U.S. government and the Federal Reserve have  committed the system to its ultimate insolvency, through the easy politics of a  bottomless pocketbook, the servicing of big-moneyed special interests, gross  mismanagement, and a deliberate and ongoing effort to debase the U.S. currency.”

He is concerned that the Federal Reserve will supplement its current policy  of Quantitative Easing 2, or QE2, under which the Fed intends to purchase by  mid-year 2010 another $600 billion of Treasury debt with “QE3.”

“These actions (QE2 and QE3) should pummel heavily the U.S. dollar’s exchange  rate against other major currencies,” he concludes. “Looming with uncertain  timing is a panicked dollar dumping and dumping of dollar-denominated paper  assets, which remains the most likely event as a proximal trigger for the onset  of hyperinflation in the near-term.”

Williams predicts that the early stages of hyperinflation will be marked by  an accelerating upturn in consumer prices, a pattern that has already begun to  unfold in response to QE2.

“For those living in the United States, long-range strategies should look to  assure safety and survival, which from a financial standpoint means preserving  wealth and assets,” he advises.

Williams suggests that physical gold in the form of sovereign coins priced  near bullion prices remains the primary hedge in terms of preserving the  purchasing power of the dollar, as well as stronger major currencies such as the  Swiss franc, the Canadian dollar and the Australian dollar.

And as totally insane as that is, it might well even be worse than that.

$61.936 trillion sounds like a lot.  And that’s the official figure for the International Monetary Fund’s estimate for U.S. indebtedness.  But the IMF is giving credibility to a figure that makes that $62 trillion seem almost manageable:

I Can Give You 200 Trillion Reasons Why We Need To Cut Government Spending NOW
By Michael Eden     March 7, 2011

Republicans are trying to get our spending under control, and Democrats are demonizing them every single step of the way.  Because Democrats are demons, and demonizing is the only thing they know how to do.

For the record, Republicans are trying to cut an amount which is basically 1/30th of Obama’s budget deficit.

News from globeandmail.com
The scary real U.S. government debt
Wednesday, October 27, 2010

NEIL REYNOLDS

Ottawa — reynolds.globe@gmail.com

Boston University economist Laurence Kotlikoff says U.S. government debt is not $13.5-trillion (U.S.), which is 60 per cent of current gross domestic product, as global investors and American taxpayers think, but rather 14-fold higher: $200-trillion – 840 per cent of current GDP. “Let’s get real,” Prof. Kotlikoff says. “The U.S. is bankrupt.”

Writing in the September issue of Finance and Development, a journal of the International Monetary Fund, Prof. Kotlikoff says the IMF itself has quietly confirmed that the U.S. is in terrible fiscal trouble – far worse than the Washington-based lender of last resort has previously acknowledged. “The U.S. fiscal gap is huge,” the IMF asserted in a June report. “Closing the fiscal gap requires a permanent annual fiscal adjustment equal to about 14 per cent of U.S. GDP.”

This sum is equal to all current U.S. federal taxes combined. The consequences of the IMF’s fiscal fix, a doubling of federal taxes in perpetuity, would be appalling – and possibly worse than appalling.

Prof. Kotlikoff says: “The IMF is saying that, to close this fiscal gap [by taxation], would require an immediate and permanent doubling of our personal income taxes, our corporate taxes and all other federal taxes.

“America’s fiscal gap is enormous – so massive that closing it appears impossible without immediate and radical reforms to its health care, tax and Social Security systems – as well as military and other discretionary spending cuts.”

He cites earlier calculations by the Congressional Budget Office (CBO) that concluded that the United States would need to increase tax revenue by 12 percentage points of GDP to bring revenue into line with spending commitments. But the CBO calculations assumed that the growth of government programs (including Medicare) would be cut by one-third in the short term and by two-thirds in the long term. This assumption, Prof. Kotlikoff notes, is politically implausible – if not politically impossible.

One way or another, the fiscal gap must be closed. If not, the country’s spending will forever exceed its revenue growth, and no one’s real debt can increase faster than his real income forever.

Prof. Kotlikoff uses “fiscal gap,” not the accumulation of deficits, to define public debt. The fiscal gap is the difference between a government’s projected revenue (expressed in today’s dollar value) and its projected spending (also expressed in today’s dollar value). By this measure, the United States is in worse shape than Greece.

Prof. Kotlikoff is a noted economist. He is a research associate at the U.S. National Bureau of Economic Research. He is a former senior economist with then-president Ronald Reagan’s Council of Economic Advisers. He has served as a consultant with governments around the world. He is the author (or co-author) of 14 books: Jimmy Stewart Is Dead (2010), his most recent book, explains his recommendations for reform.

He says the U.S. cannot end its fiscal crisis by increasing taxes. He opposes further stimulus spending because it will simply increase the debt. But he does suggest reforms that would help – most of which would require a significant withering away of the state. He proposes that the government give every person an annual voucher for health care, provided that the total cost not exceed 10 per cent of GDP. (U.S. health care now consumes 16 per cent of GDP.) He suggests the replacement of all current federal taxes with a single consumption tax of 18 per cent. He calls for government-sponsored personal retirement accounts, with the government making contributions only for the poor, the unemployed and people with disabilities.

Without drastic reform, Prof. Kotlikoff says, the only alternative would be a massive printing of money by the U.S. Treasury – and hyperinflation.

As former president Bill Clinton once prematurely said, the era of big government is over. In the coming years, the U.S. will almost certainly be compelled to deconstruct its welfare state.

Prof. Kotlikoff doesn’t trust government accounting, or government regulation. The official vocabulary (deficit, debt, transfer payment, tax, borrowing), he says, is vulnerable to official manipulation and off-the-books deceit. He calls it “Enron accounting.” He also calls it a lie. Here is an economist who speaks plainly, as the legendary straight-shooting film star Jimmy Stewart did for an earlier generation.

But Prof. Kotlikoff’s economic genre isn’t the Western. It’s the horror story – “and scarier,” one reviewer of his book suggests, than Stephen King.

Enron-style accounting?  From our government?  Say it aint so!!!

It’s isn’t a matter of IF America will financially collapse; it is only a matter of WHEN.  And “WHEN” is SOON.

And it will necessarily happen because Democrats are genuinely depraved.

Recklessly spending money on fools’ projects that your grandchildren will become debt slaves just trying to pay the interest on is immoral.

I can only keep begging Republicans to turn the Democrats’ demonization game back at them.  Democrats are running around on their talking points denouncing Republicans as “extremists” who want to kill poor people.

Bullcrap.

It is DEMOCRATS (I call them “Demoncrats,” for “Demonic Bureaucrats”) who want to implode America and kill tens of millions of American people by plunging this country into a great depression that will make the last one in the 1930s seem like a fun-filled day at the beach.

It’s not going to be the richest people who starve to death and die miserably in the cold.  It’s going to be all the people liberals love to say they care about – when in reality all they do is cynically manipulate them toward their own increasingly certain doom.

Don’t you dare forget that it has been LIBERALS who have been dreaming of undermining and imploding America financially since Cloward and Piven back in the 1960s.  And now we’ve got a JUST-ex SEIU official on tape plotting to send America into a financial crisis that will dwarf anything ever seen.

If you have a true death wish, and you vote Democrat, then by all means keep doing so, because they will give you the destruction and nihilism that you seek.  That’s the real meaning of Obama’s “hope and change.”