January 25, 2009
Obama on the economic disaster he's inherited, and the $1 trillion money bomb on the way
Trillions lost.
Trillions and trillions and trillions and trillions.
Trillions more will be spent.
Millions will go unemployed.
And riots will come, all over the world, maybe even in the USA.
It didn't have to come to this.
But the Democrats and Republicans made sure it did.
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27 comments:
Keith, Excellent info on the blog. Thanks for keeping the info coming. I do not find half of this stuff in my own searches so I am glad I can come here to find so much content.
Really sobering comments by Steve Balmer at Microsoft. The U.S. is undergoing a change to a planned lower standard of living.
If I was someone out of work and looking to get retrained, I would look into solar panel installation. Particularly if I lived in the sun belt.
Similarly, if I was thinking of starting up a small business, I would think about residential solar panel installation.
If I had a few extra dollars and was looking for somewhere to invest I would be buying PBW and/or FSLR. Oh, that's right, I already did.
This past year the high cost of fuel did serious damage to our economy and society. The trickle effects will be felt for years to come.The price of fuel affects every aspect of our economy from higher production and shipping costs to higher electric bills. Record numbers of jobs and homes were lost as a direct result. We are still reeling at the checkout lanes. We have spent billions in stimulus and bail outs. We need to bail America out of it's dependence on foreign oil. Create cheap clean energy, millions of badly needed green collar jobs and reduce our dependence on foreign oil. I just read the best book ever called The Manhattan Project of 2009 by Jeff Wilson. After a brief reprieve gas prices are on their way back up. OPEC has vowed to cut production until they achieve their desired 80-100. per barrel. It would cost the equivalent of 60 cents per gallon to charge and drive an electric car. The electricity to charge the car could come from solar or wind generated electricity. If all gasoline cars, trucks, and SUV's instead had plug-in electric drive trains, the amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota. Oil is finite. We are using it globally at the rate of 2 X faster than new oil is being discovered. India and China are expected to put 3 million more vehicles on their highways within the next 20 years. We have so much available to us , wind, solar, hybrid technology and bio fuels. We need to invest in America. We need to get on with becoming an energy independent nation. www.themanhattanprojectof2009.com
According to many ministers, all of this is really just the master plan of God coming to its fruition. As we come closer to what Christians call the 'end-time', the wealth of the ungodly world will be transferred to the righteous. Yep. God's Grand Plan. Not the bankers, not the politicians, not the realtors, not Soooooozanne. God.
Ministers support this view with scripture:
Proverbs 13:22 ‘A good man leaveth an inheritance to his children's children: and the wealth of the sinner is laid up for the just.’
Proverbs 28:8 ‘He that by usury and unjust gain increaseth his substance, he shall gather it for him that will pity the poor.'
Ecclesiastes 2:26 ‘To the man who pleases him, God gives wisdom, knowledge and happiness, but to the sinner he gives the task of gathering and storing up wealth to hand it over to the one who pleases God.’
Well, that certainly puts a new perspective on the words IT HATH BEEN FORETOLD, doesn't it, Keith?
Awww poor Obama is victim of his inheritance
All other presidents and leaders have it soo easy
Obama is a slick talker, but Marxism doesn't work.
When the state owns everything and decides which jobs it creates, it effectively kills off productivity.
Welcome to mediocrity.
Ladies and gentlemen, as promised back in 2005, I present you with, “THE BILL”!
Next up… A performance by “AMERICAS MILITARY WORLD POLICE” in which they deploy yet again to The Middle East while all eyes turn to the television and Wolf Blitzer.
Don’t fret though, once enough of OUR wealth is removed, another credit bubble will be issued so that the perpetuity of earth improvement and meaningless production may continue.
This socialist is an idiot. He inherited this problem? His own votes and actions as a senator and activist prove he was behind policy that ended us in this mess. To say he has inherited this like he did not help what was going on and playing naive like his head was in a hole in the ground proves he has his head up his ass.
Gus like Chavez and Castro seem hopeful now in Obama. Maybe it is because they like his socialistic ways?
My main question still is, how will the Federal Government survive as the main producer? Obama wants the Federal Gov to be this biggest entity in the US. This should scare you. He wants to run everything as I see it. That is not the job of our government. This guy is going to bring us to the brink of the largest civil war ever to date in the world.
I forgot to add. Everthing Obama said in this video he is going to do, where is the money going to come from, and does it not scare you that most people in this country do not understand the negative consequences of how he is going to get the money.
5 days in office, and I'm already tired of hearing from this guy.
Be quiet and go to work.
What a motor mouth.
It would cost the equivalent of 60 cents per gallon to charge and drive an electric car. The electricity to charge the car could come from solar or wind generated electricity. If all gasoline cars, trucks, and SUV's
I live in South Dakota and watched a few thieves become stinking rich off the ethonol scam. Ethonol is now in smoking ruins unless bailed out by camrade BO. Wind power and the magic flashlight battery are a damned joke. Gore Pelosi Reed Paulson Tboon Pickens are all pigs waitng for the trough to be filled up. This is a sickening mess composed of greed and corruption.. If those crooks in Washington fill the trough up again children in this country will starve as a result. If I sound angry I am. Half the people in this country are goddamned idiots so we all have to suffer. Bullshit.
signed
magic flashlight battery
or
magic popcicle
Bush spent 6 out of his 8 years in office chasing bin Laden. He forgot that he had a country to run. He left it all to thieves and looters. Bush obviously couldn't walk and chew gum at the same time. The result: The coutry was looted and is now in total ruin; bin Laden is still in a cave somewhere! When Bush was reminded that he had failed to capture bin Laden, his answer was: "So what!"
Folks! The extent of the damage Bush has inflicted upon America is not yet fully tabulated. When the truth comes out about Bush's horrendous legacy, the sheeple will be shocked and awed!
Obama won't be able to stop the systemic collapse initiated by Bush. Obama's only solution is to let the truth come out and start a full scale investigation into all the crimes committed in the name of "fighting terrorism and protecting the American way of life!"
I'm alreasy sick of this guy
Half the people in this country are goddamned idiots so we all have to suffer. Bullshit.
It's time for a civil war. Who cares about the other side anymore?
BeyondGreen
Good post. I agree, ALL stimuls spending should be directly related to cheaper energy production projects, Nuke, some wind, some solar and clean coal tech. If we do not take this lull in oil prices as an opportunity to reduce our dependence then when oil shoots back up we will surely be screwed.
This is a golden opportunity folks. We are going to spend trillions putting people to work, if we waste it on bridges and libraries we will be wasting our one opportunity.
GT Charlie
Glad to see you're not simply blaming Bush and the Republicans anymore, Keith. The problem is with the entire political system not a single party. Both parties are bankrupt and corrupt to the core.
I recommend everyone read this:
Barack H. Obama: The Unauthorized Biography
To learn who the international man of mystery that is Barack Obama really is. From the same author that brought you George Bush: The Unauthorized Biography.
Beyond Green,
You are a fool.
If we don't get busy building nuclear plants NOW, we will be in the dark by 2030.
(My name is a joke)
.
Sorry but I don't listen nor watch this shill for the shady government.
.
a trillion is a thousand billion. what do these numbers really mean?
Really sobering comments by Steve Balmer at Microsoft. The U.S. is undergoing a change to a planned lower standard of living.<<<
yep, they are planning to lower our standard of living and to put out the light that shines upon the hill, that ghw bush was always flapping his new world order gums about. traitors, all of them. may a most Merciful God in heaven allow the angry people of this land to exact judgement here on earth for these crimes against the this great country and to the people of this land and to humanity all over the world. with the growing unemployment, there will be many angry amerikans who will be willing to hit the streets. it is in this time of short duration, a glimmer of hope shines. if only for a moment in time. but it is a chance. and it is about all we have at this juncture.
Not so fast. The main causes of the problem were the war and tax breaks for the top 10% (within that, most went to the top 1%).
See Harper's article on The Ten Trillion Dollar Hangover. Yes, the Dems participated, but the blame can be squarely placed on the Bush administration.
http://tinyurl.com/9qwowd
There's no way you can blame democrats.
The conservatives have dominated the agenda for 30 years while democrats lost election after election until 2006. Even Clinton pursued the conservative free market, deregulatory policies.
This collapse is property of the conservative revolution.
Public service employees - like those in private industry - need to be paid based on performance.
As long as we don't clean-up house in the wasteful public service industries , we'll just be going deeper and deeper into debt.
Raising taxes on those still left in the private sector is a recipe for some nasty backlash down the road.
As a fellow healthcare professional , I'm sure you'll agree that the next step will be socialization of many medical services. The medical industry is full of daily wasteful spending, and it's here - in the health services - where we will be seeing some major changes down the road.
Dr. Huxtable.
Keith, Excellent info on the blog. Thanks for keeping the info coming. I do not find half of this stuff in my own searches so I am glad I can come here to find so much content.
Really sobering comments by Steve Balmer at Microsoft. The U.S. is undergoing a change to a planned lower standard of living.
Taco Chowder is spot on. We're going to see a new level of civil unrest thanks to this guy.
First, the race riots of the 60s are going to return. I realized this last week in Ft. Lauderdale airport where I witnessed a large black man getting in white people's faces and shouting:
"We got Obama now, b*tch!"
"We got Obama now, b*tch!"
Naturally the cops did nothing to stop him because they're all afraid of being charged with racism.
Second, Obama's plan is to seize the wealth of those who have worked hard and produced, and give it to those who have not. Naturally the producers of this country will be smart and their attorneys will find new, innovative tax loopholes. Obama will try to close them and take the money by force. Won't be pretty.
Finally, after the nation's producers are taxed to death, they'll begin closing their businesses or moving them offshore, laying off millions of people. This will lead to widespread poverty as the states will be clean out of cash to fund unemployment checks. Crime will rise dramatically, especially burglaries and armed robberies.
Better stock up on ammo, boys and girls.
There really are some nutty right wingers and religious freaks that comment on your blog, Keith.
I wish the conservatives would just emigrate to some far away vacant land and take their fucked up cult of greed ideology, fruit-loop religious beliefs, xenophobia and racism with them. 30 years of a nationwide shift to conservative thinking, led by blowhards like Rush and O'Reilly, has absolutely ruined this country.
I agree with "Frank R".
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