| Archive for http://rorap.net The Roanoke Valley's Most Reliable Forum |
| flyupsidedown |
The Decline of the DollarAmerican SpectatorBy Peter Ferrara . . . Note that the third quarter of 2009 ended a month ago. Almost one trillion to be spent on the Obama stimulus, all to little or no good, with unemployment stuck at 10%. That has to be one of the greatest wastes of taxpayer funds in world history, brought to you by the Messiah and his ultraliberal Congressional majorities. Yet, with his ideological blinders on, President Obama rigidly refuses to change course. Instead of considering the cuts in marginal tax rates, spending cuts, strong dollar policies, and deregulation that worked so spectacularly under President Reagan, we now hear talk of another stimulus package, which would be the third Keynesian failure supported by Obama in less than two years. Moreover, Obama still insists on raising marginal tax rates in 14 months, if not sooner, still more federal regulation, and continued weak dollar policies. The Decline of the Dollar Yet the trillion dollar deficits brought to us by the Obama stimulus and budget are now threatening the world currency status of the dollar. As Krauthammer said at the Manhattan Institute's Wriston Lecture: The effect on the dollar [of Obama's policies] is already being felt and could ultimately lead to a catastrophic collapse and/or hyperinflation. Having control of the world's reserve currency is an irreplaceable national asset. Yet with every new and growing estimate of the explosion of the national debt, there are more voices calling for the replacement of the dollar as the world currency -- not just adversaries like Russia and China, Iran and Venezuela, which one would expect, but just last month the head of the world bank. If the dollar is replaced as the world currency, then when we want to buy oil or anything else from the rest of the world, we will have to buy some other currency to do so. Any weakness in the dollar will then immediately impose a higher cost on us at the time. Yet, raising income and capital gains tax rates as President Obama still plans will cause the dollar to decline still more, as it will discourage overseas investment in the U.S., which requires purchase of dollars by foreigners. The continued weak dollar policies Obama demands from the Fed will also cause further dollar declines. So will Obama's deliberate high deficit (Keynesian economics), runaway national debt policies. As Judy Shelton wrote in The Wall Street Journal on October 14: By the end of 2019, according to the administration's budget numbers, our federal debt will reach $23.3 trillion -- as compared to $11.9 trillion today. To put it in perspective: U.S. federal debt was equal to 61.4% of GDP in 1999,…70.2%...in 2008 (under the Bush administration),…an estimated 90.4% this year and…[will] touch the 100% mark in 2011, after which the projected federal debt will continue to equal or exceed our nation's entire annual economic output through 2019. The U.S. is thus slated to enter the ranks of those countries -- Zimbabwe, Japan, Lebanon, Singapore, Jamaica, Italy -- with the highest government debt-to-GDP ratio (which measures the debt burden against a nation's capacity to generate sufficient wealth to repay its creditors). In 2008, the U.S. ranked 23rd on the list -- crossing the 100% threshold vaults our nation into seventh place. http://spectator.org/archives/2009/10/28/determined-to-decline |
||
| Outsider |
If you're a conservative and looking for viewpoints to reinforce your way of thinking, then American Spectator will not let you down. Everybody over there likes to slant things toward the right. 
|
||
| flyupsidedown |
Facts are facts. Care to disprove them? Do your best, I'm listening. What you meant to say is some of the more conservative oriented news networks and blogs print news, facts untouched by the liberal MSM criticizing Obama or disemminating real relevant facts assocoated with his policies.
. . . Oh, I forgot, 'put on a happy face' for Barack. Sorry, I forgot. I'll try to remember next time. |
||
| Outsider |
I went to American Spectator and American Thinker checking out the "facts" and I can see how reading too much of that stuff can actually cause you to overlook the slant. Just a little friendly suggestion. Click on Huffington Post sometimes for a little balance on the facts. 
|
||
| coastie |
or the dailykos or moveon.org.
Whoever wants to find whatever can find what they're looking for. |
||
| Dazed & Confused |
RON PAUL 2012.....our last hope!!!! |
||
| flyupsidedown |
outsider:
Funny you should mention slant (/) when the MSM is a b-line (----) of propaganda for barack. You get absolutely no discussion that isn't a puff piece nor debate that isn't a staged one-sided wink toward Obama. As for Huffington-Post, been there done that. She's got an axe to grind as have they all. My concern is whether they present both sides sufficiently. So you go to the left and the right and you are able to piece together some semblance of truth. The problem is FOX and blogs are the only ones seriously challenging Obama's agenda. Serious scrutiny is part of our Republic and especially at this time, it is no time to blithely lay down and trust an unproven 'community organizer bent on turning us toward socialism and the European way. He could collapse our culture and our economy single-handedly. We need a patriot versed in leadership, steeped in experience and accomplishments. It takes a strong gentle hand in these times not a ham-handed, thin-skinned, questionably patriotic idealogue. |
||
| Outsider |
Coastie wrote:
Thanks Coastie. Fly I'll admit Huffington and MSM slants. Will you admit that Fox, and American Spectator slants? |
||
| lemontrail |
All MS media slants...Huffington and Fox included. The most objective source of news I have found is the Christian Science Monitor. Don't let the name fool you as it is not a religious media form, even though it has its roots there. Give it a try. | ||
| flyupsidedown |
outsider:
You have no argument here about that. They all slant. Even the Christian Science Monitor, as reputable as that has been in the past. Anywhere humans are involved there will be belief systems, opinions and political points of view. My problem is when other views or presentation of the facts are excluded or demonized as being racist or right-wing fascists or nazi's, which in earlier posts I debunked since fascists and nazi's were both left-wingers. Yes FOX presents news predominantly from the conservative viewpoint. It's new and fresh isn't it? That's why it is #1 with Americans. We've been spoon fed liberal slant for the past 50 yrs. It is about time the other side is heard. Average 'Joe Plumbers' will arise when they see and hear they have a cause and they're not too busy earning a living, supporting a family. They are standing up and being counted and FOX has a part in that. Certainly the MSM doesn't inform America. The academic elite feel somehow they have the birthright to run politics and look aghast when 'Joe Plumbers' take the stand. They elect people who stand for low taxes, God and country, family values, small unobtrusive gov't. They can't help it if they get betrayed time and time again. Maybe this time it will be different in 2010. maybe |
||