OBAMA IS RIGHT: We Must Eradicate This Horrific Income Inequality Now!

I had the thought earlier, but GayPatriot beat me to it, his story even making the top headline at BadBlue.

As Barack Obama rails against “income inequality” (read: free market capitalism) and “trickle-down economics” (read: free market capitalism), it’s worth remembering this simple fact.

Obama has been president for coming up on six years. Every one of his many promises: hope, change, shovel-ready, Stimulus, cash-for-clunkers, green energy, Solyndra, Dodd-Frank, Obamacare, keeping your health care plan, keeping your doctor… every single one has been a disaster. Every single one of his Utopian fantasies has increased misery, poverty, and malaise.

And who has benefited the most from his policies? The federal bureaucracy and Democrat apparatchiks around the Beltway:

DC – i.e., government employees – got richer compared to the rest of America. What also happened back then was a newly-Democrat Congress adding hundreds of billions to government spending, followed of course by President Obama and his 2009 “Porkulus”.

Via Zero Hedge, who suggests that Obama should maybe keep this in mind when he gives his speeches on inequality.

Insofar as it applies to D.C. first, I agree with Obama. Income inequality must be addressed. Let’s start with the ruling class in D.C. by slashing every non-defense discretionary agency by 50 percent. For starters.

Doug Ross @ Journal

Horrific Consequences: “People Don’t Understand the Scale of the Emergency That’s Going On Right Now”

consequences

Back in the mid-2000′s, when jobs were plentiful and everyone was concerned with buying zero-interest homes, new cars and taking luxury vacations, Mike Maloney from the Hidden Secrets of Money was warning of the financial and economic destruction to come. In his assessment, a crisis was imminent:

First the threat of deflation (1), followed by a helicopter drop (2), followed by big reflation (3), followed by a real deflation (4), and then followed by hyperinflation (5),

We now know that Maloney was right.

In 2008 we saw asset valuations from stocks to commodities lose significant value. It was a deflationary impact so threatening that the U.S. government was on the brink of a collapse which sunsequently led to members of Congress being warned that if nothing was done there would be tanks on the streets of America. This was followed by an unprecedented bailout package, which included an astronomical infusion of cash by the Federal Reserve under the direction of Chairman Ben Bernanke. Since then we’ve seen a massive reflation in a system where the economic fundamentals have only gotten worse – stock markets have hit all time highs, home prices have seemingly re-stabilized and personal debt is approaching 2007 levels.

Mike’s first three stages have, without a doubt, now come to pass.

If his forecast is correct – and it sure seems like it – then we will soon enter the next stage of this crisis and it will involve yet another deflationary hit to global asset prices. We know how destabilizing such an event can be from our country’s experience during the Great Depression. But as Mike notes in a follow-up to his original forecast, the next event will be nothing like what we saw during the 1930′s:

I think it’s going to be a whole lot worse than the 30′s…

People don’t understand the scale of the emergency that’s going on right now. 

They think that Ben Bernanke fixed things and that the economy is back on track, but the Fed is still doing emergency measures. They’re printing $ 85 billion a month – that’s over a trillion dollars a year… and people do not grasp the scale of the emergency measures that they’re doing right now.

There was just a little over $ 800 billion of base money in existence before the crisis in 2008… that’s 200 years worth of currency creation… So that’s 0.8 trillion… now we create a trillion every year… that means we’re creating more than 200 years of currency every single year

…For him [Bernanke] to say that they’re not going to taper is an admission that they can never, ever taper… If they do the whole thing comes crashing down.

I think the crash of 2008 was just a speed bump on the way to the main event… the consequences are gonna be horrific… the rest of the decade will bring us the greatest financial calamity in history.

If Maloney is right, then the next crash is going to be followed by something so severe that many have suggested our civilization may not survive in its current form.

Hyperinflation on this scale, originating in the United States, will lead to immediate global consequences. First, our systems of commerce break down. Next, the government will be left with no choice but to implement a state of martial law, something they have been war-gaming for years in anticipation of this very event. And finally, as noted by many contrarian experts, the world could very rapidly descend into widespread global conflict.

We are, by all measures, on the very precipice of what is potentially the most enormous financial, economic, and social collapse in the history of the world.

Both scenarios – deflation and inflation – are going to impoverish this nation and make it nearly impossible for people to acquire the basic necessities for life. One hundred million people are already struggling right now and are only capable of paying their rent and putting food on the table because of direct government assistance.

When the system collapses that assistance will not be enough and those who failed to prepare by stocking long-term food stores, gold and silver, and barter supplies are going to be living in horrific conditions.

This is big – and most people are completely ignorant to the possibility.


SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You

Larwyn’s Linx: The RNC’s horrific open-borders pandering

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Nation

The RNC’s horrific open-borders pandering: Michelle Malkin
IRS Gets Rid of Obamacare Penalties: Erick Erickson
Ben Shapiro: Obamacare designed to fail, bring about single-payer: Breitbart

Hillary 2016? Nope.: Donald Sensing
AFL-CIO not at all happy with White House and ObamaCare: Erika Johnsen
DNC Fundraising Hits the Skids: Byron Tau and Priya Anand, Politico

Economy

NY Down $ 50 Billion Due to Residents Leaving for Lower-Tax States: MenRec
Union boss: Hey, who’s up for a federal bailout of Detroit?: David Freddoso
Beware Warrior Cops: John Stossel

Obamacare: UPS drops coverage for 15,000 spouses: John Hayward
Delta Airlines and the $ 100 Million Costs of Obamacare: Erick Erickson
ACT: only 1 in 20 African American students ‘fully ready’ for college: Post

Scandal Central

Report: NSA doesn’t know the extent of Snowden damage: Instapundit
Another Filner Problem for Democrats?: Instapundit
Executive Order – Obama Tells Schools Not To Discipline Black Students: IM41

Media

Universal Nightmare – Will America Survive? – Mark Levin Weighs In: NoisyRm
The Tao of the Pooh-ba: MOTUS
Figures: Media Matters Gushes Over Al Jazeera’s Anti-American Propaganda: Jamie Weinstein

Jesse Jackson Goes Out on a Limb: Ed Driscoll
AT&T Sued by Al Jazeera America After It Refuses to Carry the Network: TheBlaze
Michelle Malkin schools Democrat who blames Okla. gun laws for Australian college student shooting: Scoop

James O’Keefe Humiliates Anti-Gun Liberal, Piers Morgan: John Hawkins
Levin’s The Liberty Amendments Will Debut on NYT Bestseller List as #1: Jen Kuznicki
Darrell Issa Tweets Surprising List: Reasons Not To Stop Obamacare: John Hawkins

World

Arab Media: Obama’s Secret $ 8 Billion Deal With The Muslim Brotherhood: JoshuaPundit
Obama’s Jewel of Denial: George Neumayr
Camille Paglia Trashes Hillary For 2016, Says Benghazi Disqualified Her: Glob

If Syria’s deadly poison gas attack doesn’t cross Obama’s ‘red line,’ what does?: Keith Wagstaff
Why Obama Is Looking More and More Like Jimmy Carter: JWF
White House Spokesman on Obama’s “Red Line”: “I didn’t bring my red pen out today…”: FreeLight

Sci-Tech

The Internet’s 9 Most Hated Companies: Brian Ries
Bowflex Boost fitness band coming to market in September for $ 50: Zachary Lutz
German IT officials reportedly deem Windows 8 too ‘dangerous’ to use: Brad Reed

Cornucopia

Elmore Leonard, Cowboy: Steven Malanga
Remember When Democrats Abhorred Federal Debt?: IMAO
Now a Word From Obama on the Chris Lane Killing: Moonbattery

Image: Syrian activists accuse government of deadly chemical attack near Damascus
Today’s Larwyn’s Linx sponsored by: 2 Millions Bikers to DC on 9/11

QOTD: “In Alabama, there’s now a law that any student in one of the state’s 78 failing schools may be permitted to escape to a non-failing school. $ 3,500 is provided as partial (or full) payment of any costs that might be associated with such a move.

The Southern Poverty Law Center is suing the state to block this scheme.

Why? Well, actually, because they are simply creatures of the left and are doing a solid for the most important constituency of the left, Government School Union Teachers (and the bad ones, too, because the good ones have less need of union bargaining power).

But their stated claim is this: They found eight families who say $ 3500 isn’t enough to get their kids the help they need and hence the law is “discriminatory,” and ergo is unconstitutional.

So all children must continue to suffer with those eight.” –Ace o’ Spades

Doug Ross @ Journal