Liberal free for all coming to an end

[TracyCoxx]

Remember during the financial crisis in September 2008 when Bush, Obama & McCain got together and worked out a solution to the financial crisis? One of the things they did was to increase the money supply from around $800 billion to $2.4 trillion!

Yay, housing prices stabilized, the stock market came back up, the economy is slowly coming back. We're all good now right?

No. By 2013-2015 double digit inflation is coming. It would have happened earlier, but the Fed has been paying interest to the banks on their extended reserves. Over at least the last 60 years, banks have had nothing in their extended reserves, because they would rather loan that money out and make interest off it. But with the fed paying interest on it, and the banks willing to do the fed a favor after getting bailed out, US banks now have over $1 trillion in reserves. This stalls inflation, but not forever.

So when it comes, expect rising interest rates (also double digit), less spending, the values of homes, stocks, cars will drop like a rock. The dollar will collapse, and then thanks to Obama almost doubling the debt, countries will realize we have no chance of paying off the debt and our credit rating will fall more than it already has.

Soros, Paulson, Buffett and other billionaires already know this. Over the last year they've been dumping massive amounts of US stock. Experts who predicted the 2008 crisis back in 2005 now predict the stock market will lose up to 90% of its value.

I'd almost like Obama to have a 2nd term so he can take the blame for that. He did agree to raising the money supply in 2008 to move the problem to the next term, and raised it again later. Inflation is a certainty now. And, knowing about the gigantic increase in the money supply, he raised the debt several trillion anyways. If Romney gets in and the economy collapses he will surely be blamed for things already set in motion. The country won't elect a republican for 50 years.

[randolph]

Tracy

I'd almost like Obama to have a 2nd term so he can take the blame for that. He did agree to raising the money supply in 2008 to move the problem to the next term, and raised it again later. Inflation is a certainty now. And, knowing about the gigantic increase in the money supply, he raised the debt several trillion anyways. If Romney gets in and the economy collapses he will surely be blamed for things already set in motion. The country won't elect a republican for 50 years.

So we are doomed either way.
Are you going to vote for Obama?

[TracyCoxx]

Originally Posted by randolph

Tracy


So we are doomed either way.
Are you going to vote for Obama?

Haha, yeah right. I would never go that far. Romney would be better for the economy because he won't drive up the debt as fast and he'll kill Obamacare. In this case a better economy is still going to be really bad. It will just hopefully not be so bad that the government would collapse.

What about you?

[randolph]

Originally Posted by TracyCoxx

Haha, yeah right. I would never go that far. Romney would be better for the economy because he won't drive up the debt as fast and he'll kill Obamacare. In this case a better economy is still going to be really bad. It will just hopefully not be so bad that the government would collapse.

What about you?

I think Obama should take the cliff. In the long run it would be better for everybody.