The signs are appearing on a daily basis that our bankers around the world are seriously concerned with our spending habits.
First, a Chinese scholar scolds us as the ChiComs send a veiled message about their feelings on us accruing massive debt:
"China is implying to the US, more or less, that it should adopt a more pragmatic and responsible attitude to maintain the stability of the dollar," He Maochun, a political scientist at Tsinghua University, told the Global Times.Yes, we are being schooled on fiscal responsibility by a communist nation. Reagan is spinning like a top in his grave.
Next we have the story of Russia and China signing a pact to sell and buy in the Chinese yuan and the Russian ruble in a not so subtle smack at the US and the US dollar.
Speaking of the dollar, the world is responding to the Obama administrations actions and limitless spending by telling us in no uncertain terms that our currency is second-rate and may be replaced by another such as the Euro or a new world currency.
In five short months, we went from the economic powerhouse of the world to a nation on a par with Burma or Mali. And the second part of the double-dip; inflation is still to come.
Thanks Obama. It appears your world-wide groveling has gotten us no where fast and actually sent us backward.
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2 comments:
Why are you wrapped up in Obama. The country is in terrible trouble, the Republicans offer nothing better then same old same old which got us into this mess in the first place. The Republicans in congress and Bush spent us into a deep hole long before Obama got into office. Obama just like FDR is trying to change things for the better. If you dislike his thinking offer some bold ideas on health care, taxes, how to pare down government etc. Instead I hear nothing put platudes "cut governemtn" "cut social security" "private health" "cut taxes" and whines about Obamas policy positions without any concrete nuts and bolts suggestions of how to proceed on any of his proposals.
For example, cuting taxes, what taxes do you want cut and how do we pay for the past debt and current spending? Nothing from the Republicas. This is why you keep losing and have to speak in thrill tones of "family values" as you have nothing substancieve to say. I remember the party that at one time took down slavery, took down Standard Oil and reached accomodation with the Communist countries. Now its big business is god,"family values" means hate and intolerance, emigrant bashing is good despite the fact most of us are immigrants or children of immigrants and thinks liberal is a dirty word. Lincoln, remember him, was a Republican liberal who raised taxes, went to war to keep the nation whole, ended slavery, killed hundreds of thousands in that war, and got himself killed doing all this. We need a strong party that looks to the future and offers ways for making this country better if we are to survice as a nation and a beacon of hope to the world.
The country has been put in dramatically worse shape by Obama. Yes, Bush spent us into debt but Obama has indebted us more than every other president combined. Fact.
Cut taxes, government and social security are not "platudes", they are sound fiscal policy. Where do you think the money the governemnt comes from, trees? No, it comes from the sweat of the people. Governemnt has never produced a good or service worth buying. Typical lib, you can't fathom that cutting taxes increases wealth and thus increases revenue. It's been shown time and again while raising taxes cuts growth and stymies revenue.
As for the family values deal, you sure are painting the GOP with a broad brush. You've never read anything on here advocating religion and I for one wish the religious right would be relegated to the back burner.
Finally, on immigration, illegals are purely and simply breaking the law. I'm all for legal immigration as are the majority of Republicans and conservatives. It's the illegal kind that drains our coffers that infuriates us.
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