Chas' Compilation

A compilation of information and links regarding assorted subjects: politics, religion, science, computers, health, movies, music... essentially whatever I'm reading about, working on or experiencing in life.

Wednesday, October 14, 2009

The euro and the yen have surpassed the dollar as the favored currency by central banks

From Neal Boortz:

HOW'S THE HOPEY, CHANGEY, SPENDY THING WORKING OUT FOR YA?
When Barack Obama was elected, he and the Democrats insisted that we could spend our way out of this crisis. Remember that? Remember the $787 billion stimulus bill that needed to be passed IMMEDIATELY in order to start our economy on its way to recovery? Yeah ... the bill that was essentially written by hard-left, anti-capitalistic activist groups like The Apollo Alliance. Well more than six months later, we have unemployment creeping up on 10%. And we have this ..... from Bloomberg:

President Barack Obama's effort to lead the world economic recovery by spending the U.S. out of its recession is undermining the dollar, triggering record commodities rallies as investors scour the globe for hard assets.

Did you hear that, folks? Isn't that just wonderful? Isn't that just the type of change you voted for? All of this spending ... all of this printing of money ... all of these government dreams and schemes and bailouts .... they are starting to affect America. Big time.

The dollar went into "crisis mode" earlier this week when the euro and the yen surpassed the dollar as the favored currency by central banks.

Thank you Oh Great Chosen One ... the American dollar on the back bench. That's the type of change we voted for, isn't it?

Then we get reports like this from the New York Post:

After printing up trillions of new dollars and new bonds to stimulate the US economy, the Federal Reserve chief is now boxed into a corner battling two separate monsters that could devour the economy -- ravenous inflation on one hand, and a perilous recession on the other.

"He's in a crisis worse than the meltdown ever was," said Peter Schiff, president of Euro Pacific Capital. "I fear that he could be the Fed chairman who brought down the whole thing."

Bringing "the whole thing" down! Even MORE change you can believe in!

Don't you see what has happened here, folks? Obama has succeeded in weakening America. Low interest rates, flooding the economy with money by simply printing it, a mounting pile of debt. So now ask you again ... how's this hopey, changey, spendy thing working out for ya? Better yet, how is it going to work out for your grandchildren?

I keep hearing on from the MSM that the recession is over, yet unemployment continues to rise. And that continues to affect what could otherwise be a recovery:

HIGH UNEMPLOYMENT ADDS TO THE DEFICIT
Speaking of unemployment ... that, too, is having an impact on our massive government deficit, which is currently $1.4 trillion in 2009. This makes perfect sense if you think about it.

High unemployment means two things: more taxpayer dollars spent on unemployment checks and less tax revenue. This will cost the government about $100 billion a year.

I bring this up for one reason and one reason only. The Democrat solution to this is to throw more money at the unemployed ... to extend unemployment benefits. In the meantime, they wish to increase taxes on the very people who would be able to create jobs for these people .. to get them off the government dole. Creating jobs, not spending money, is the solution.

There. How hard was that?

I don't see anything being done to create jobs, only things being done to cripple, limit and restrain those who can, could and would create jobs.

If you think that a 1.4 TRILLION dollar deficit is bad, consider that our national debt is pushing 12 TRILLION dollars, and climbing:

U.S. NATIONAL DEBT CLOCK

Our situation is becoming increasingly unsustainable, as we continue to do exactly the wrong things to get out of the hole our government is digging us into.
     

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