Barack Obama

[TracyCoxx]

Originally Posted by randolph

Although I am a democrat, I believe in fiscal conservatism. I hate debt and always made every effort to get out of it as soon as possible. I carefully invested my savings in conservative stocks and real estate. Now I see my efforts going down the tubes because of fiscal incompetence of government, bankers and speculators. Obama's spending program is terrifying and will very likely result in serious inflation (paying off debt with cheaper dollars). This will further reduce the value of my retirement savings. So what are the alternatives? War got us out of the last depression (which incurred trillions of debt) but we are already in two wars, costing trillions. We are still a rich country with lots of rich republicans. Since this country made them rich isn't it time they give some of it back?

I'm glad you can admit that Obama's spending (don't forget the democrat congress too) is terrifying and will result in serious inflation. I've already admitted that republicans can rack up debt too. But hopefully from my last post you can see that the debts that the dems are racking up is in a whole other class.

Obama's only been there a month, and they've already generated 2.5 times more debt than Bush has during all 8 years of his presidency! Look at the numbers yourself. I'm not lying. All this in one fucking month!

I've been doing some reading and I see what you're talking about with Greenspan. So yeah, I'll admit he's had a hand in the financial melt down. But the other stuff I mentioned about ACORN, Fannie Mae and Freddie Mac, and the CRA are also very much to blame. The real problem that is looming closer is when our debt reaches a point where other countries will no longer accept our IOUs. When they realize we don't have the ability to repay it because we're a nation of consumers rather than producers now. They will eventually make the decision to base their markets on another currency, perhaps the Euro rather than the dollar. At that point, the dollar will collapse, and you can kiss your ass goodbye. At $10 Trillion in debt, we were already putting serious strain on the worth of our IOUs. Obama's instant $2.7 Trillion deficit is probably a shock to the system and no one can say how the world will respond.

This is why myself and others did not want Obama to become president since over a year ago. People called us racists, and they now celebrate the first black president. I couldn't give a flying fuck about that. I'm more concerned with the longevity of this country. He was one of the most liberal members of the senate. I knew he was going to increase the size of government and rack up a ginormous deficit, which would result in inflation and high taxes, but holy shit. I didn't expect it to be this bad. And there's no one who will stop him. Even the republicans in the house are a bunch of pussies. They collaborated with the dems to produce the additional $410B spendulous part II plan that has over 9000 earmarks in it. The republicans are no longer the conservatives we need, and the dems are rabid with power. I don't see anything that's going to keep the dollar from collapsing.

Investing your money in stocks for the long term has always been the best advice because the US economy has been strong. But because of a series of events from the 1930s through the 40s when the USD was designated the international monetary standard, to the 70s when we got off the gold standard, to CRA and to the housing bubble, things are changing. When Obama and others blame all this on the last 8 years alone, it only shows they either have a very limited understanding of what is going on, or they're lying through their teeth.

Sorry for all the doom and gloom, but things ain't pretty right now.