So the administration supporters tell us how wonderful everything is: a rising DOW, lessening deficits, low inflation, strong jobs data, growing GDP, etc. They pat themselves on the back for their bravery in the Bush tax cuts.......
Let us tell you like it really is: AMERICA IS BANKRUPT! The federal government is now around $9 trillion dollars in debt and whenever you hear about how there is a shrinking deficit just ignore that hype because it is merely based on a yearly budget and not the whole long term debt of the nation. There has been no real surplus! This nation has been in debt for decades. We are the world's largest debtor nation and we hold the record for the highest debt in world history. The consumer is laden with credit cards and borrows against their house. Government has no control of its spending and unfunded liabilities to boot. Did you know that our currency is actually based on debt? As a matter of fact, our debt can never be repaid because all of our money is debt and is created with interest attached.
Have no fear however, the Pollyannas tell us good times are here to stay with their policies and that the gloom and doom crowd is persistently wrong. The sky is not falling -- it is propped up with borrowed funds and as long as they perpetually borrow we will always be prosperous! Given the current threats from the subprime chaos, derivatives, real estate depreciation and the falling DOW they always have a solution at hand -- borrow more!! Liquidity injections are really throwing more borrowing at a problem caused by excessive debt and the more they throw at it the worse the biggest-debt bomb man ever made will be!
Meanwhile, open-borders Bush and friends tell us of the wonderful job they are doing with our economy. Bush has a record of more debt spending than all of his predecessors! Remember, the Rockefeller Republicans don't want real free market reform -- they want to keep much of the manipulated economy in place (income tax, social security, Federal Reserve, phony Consumer Price Index, Fannie May & Freddie Mac debt machines). They want us to trust them in the next election after a pitiful track record of their open-border, immigrant welfare schemes and huge debt spending.
Trusting the bonehead Republicans and the administration supporters with their myopic economic analysis is like taking a casual stroll down a turd-laden sidewalk. Do you really think they will get it right next time? They can't ever do such because they are true to the machinations of the election/government/lobbyist/subsidy factions and the resulting lowest common denominator of the two-party scheme. They don't need to improve since the other party is not an alternative for their naive Republican base.
WE will put forward a sound economic foundation -- that of the Austrian school of economics as opposed to the Keynesian shop-till-you-drop, borrow-to-prosperity philosophy. The Austrian model calls for a hard value-backed currency, low government spending and small government.
If you doubt the dire staits that we pronounce, then follow these links for a more honest appraisal of the fundamentals of our economy. Can G.O.P. Pollyanna assertions stand up to these truths? We think not and the day will unfortunately come when the doom and gloom crowd is proven right. However, by adhering to the Austrian school economic model we can lessen the pain and provide a cure quicker to the Keynesian Republican heresies and their foolishness.
The Fed Blinks
By James Turk
By Doug Casey
Serious Credit Collapse Could Strengthen Dollar and Hit Gold
By Chris Laird
Monetary Parallels between 9/11 and the Subprime Market Fallout
By John Lee
Will Gold Benefit from Calmed or Crippled Confidence
By Julian D.W. Phillips
Nope, That's Not Money
By John A. Rubino
Lenders Take the Jab, Borrowers Take the Knockout
By Peter Schiff
As you can see we need urgent, true reform. We need leaders who will act on a proper plan and give us relief from this approaching disaster......