For those of you who know my dad, he is the defintion of conservative. Just wanted to enlighten all of you fellow bloggers on his prophecy...
The mainstream media has led us all to believe that George Bush has led us down a fiscal path that will destroy us. Actually they are not far off! Bush’s policies on foreign trade (come on George add the VAT tax already), his strength at home with interest rates (please Bernanke raise the rates!) and his failure to produce M2 and M3 data on money supply is ridiculous. So what if the economy slips into recession because we spike interest rates to 10%? So what if homeowners lose their homes? It’s already happening! We are already in a recession. Foreign nationals refuse to buy our currency because its worthless! There is no interest rate, there is no interest and foreigners are disposing of our currency faster than we can print money (did I say we don’t publish our M3 data anymore?). And worst of all, the Stock market is nothing more than public perception! This junk about the stock market dropping on oil fears or rising due to the elimination of short selling on financial stocks…. Please….. it’s nothing more than public perception. There is no fundamental reasons (other than our currency being sold faster than we print money) for the lack of faith in the market.
Ah hah! This is where Barack comes in. Yes he inherits a failed economy because of my man Bush, yes the stock market is failing, yes the media will point fingers at conservatives for the next 4 years, no we won’t drill off shore for oil because congress won’t let us… BUT IT DOESN’T MATTER! The libs and media will anoint their King to be President and once the finger pointing and excuses get washed out, sooner or later he has to create his prophesied CHANGE! And the media cannot let him fail because after all he is their guy. Thus, they will portray a stronger housing market, a robust stock market, a rising dollar, better trade, and we will be back on solid ground because of their support for the King. You’ll see. It’s prophetic!
Yeah, he is going to tax you to death. But 2010 is right around the corner and the GOP will begin to win seats. It always happens.
BTW Dad... I am voting for Barack.
8 comments:
First of all, don't take offense to any of my comments. I just enjoy political debate.
1. Michigan used a VAT tax for years, and the voters ended up voting to repeal it. Even if Bush pushed for it, it's doubtful that voters would get behind it.
2. As far as the M2 and M3 go, that data is still available in other indicators, just not compiled into the aggregate. So the data is still there for the people who care about it.
3. The dollar is still undervalued, but especially in the last week or so, it's pushed hard against other currencies. And experts predict that it will continue to rally. So I wouldn't say it's worthless.
4. Yes the economy has slowed, but no economist would say it's in a recession. The economy has, in fact, grown over the last couple of quarters, which conflicts with the definition of a recession.
5. I'm a bit confused as to your intention in voting for Obama. It almost appears that you want him to get elected because it will eventually make the GOP stronger. Am I right?
Look at Jillian with her political blog and stealing my email from her earlier today. And further, look at Carter making way with his financial insights! Wow, I disagree with almost every point made but that's what makes the world go around! Here is a few more for Carter to comment on:
The Federal Reserve System is legally allowed to monetize anything it wants to monetize. It can buy any asset and can create money to buy that asset. They can intervene to save individual banks or large financial institutions. However, at some point they will not be able to do this without monetizing assets that it cannot offset by the sale of existing Treasury debt in its possession. Beginning late last year the Fed had sold Treasury debt whenever it increased its purchase of questionable assets that it bought from financial institutions (remember the CDO's)? Since that time it has unloaded about 40% of its holdings of liquid Treasury debt which has kept it (The Fed) from inflating the money supply at a dramatic rate.
HOWEVER! At some point the Fed will run out of Treasury debt to sell to the general public in order to offset the increase of its purchase of questionable assets held by the financial system. At that point, the great inflation will begin!
Remember this: When the Federal Reserve System runs out of Treasury debt to sell, its purchase of assets will be inflationary.
A vote for Obama, is almost like a vote for Mitt in '12. Although its going to be tough, I will just need to man up and do it......
Huh? What is Dad talking about? I'm an American Studies major not finance.
Sorry, that comment was me. I was signed in to Trevor's email. How strange that looked on your blog.
RON PAUL '08!!!
{just kidding}
Everybody have their food storage and 72 hour kits?
Scratch that.....Im just not voting
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