If there were any sign that Washington was starting to change course, there might be some room for a tiny bit of optimism.  Since there is not, there is not.  Prepare for impact!

The Precarious State of Our Union

By: Peter Schiff, Euro Pacific Capital, Inc.

-- Posted Friday, 29 January 2010

In this week's much anticipated State of the Union address, President Obama again demonstrated his poor understanding of the fundamental problems that confront our nation.  By following the advice of the same people who helped guide our economy to the precipice of total collapse, Obama now threatens to push it over the edge.
Notwithstanding his well crafted lip service regarding future spending restraint, the essence of his current program is for more government spending and larger deficits. For all his talk about job creation, his policies will further burden those who might otherwise create those jobs with higher taxes and more regulation. While he did call for tax cuts for the middle class and offered what amounts to bailouts for those struggling to repay student loans, such cuts do nothing to promote growth in the near term and will add to the deficits in the long term.
The President spoke optimistically about the future, but in reality there is little evidence to support such an upbeat outlook.  He began his speech by assuring us that the worst of the storm had passed.  General Custer may have said something similar when the first wave of Indian attacks ebbed at Little Big Horn.
While Obama did have some harsh words for Wall Street (not exactly a courageous political stance), he leveled no criticism at the Federal Reserve or other government agencies that had financed and guaranteed all the ridiculous real estate speculation that precipitated the crash. And while he at least conceded that the prosperity of the last decade was based on illusions, he continued to endorse the very policies that produced the mirage in the first place.
To lead us back to brighter days, he articulated a vision of a centrally planned recovery, where clean energy and a Soviet style five-year plan to double our exports would make our economy preeminent once more.  He fails to understand that the only reason our economy rose to the top in the first place is that the government left it alone.
In the words of the Spanish philosopher George Santayana, "Those who cannot learn from history are doomed to repeat it."  Since our President cannot even learn from the mistakes of his immediate predecessor, to say nothing of those he made himself while in the Senate or during his first year as president, we are surely doomed to repeat them, perhaps more quickly than Santayana could have imagined.
Rather than tightening the reins on the reckless monetary policy that undermined our savings, diminished our industrial output, inflated asset bubbles, and led to reckless speculation on Wall Street and excess consumption on Main Street, we are loosing them further.  Rather than repealing regulations that distort markets and create moral hazards, we are adding new ones that do more of the same.  Rather than cutting government spending to reduce the burden it places on our economy, we are increasing both the amount of the spending and the size of the burden.  Rather than making government smaller so that the private sector can grow, we are making government bigger and forcing the private sector to shrink. Rather than paying off our debts we are taking on even more.  Rather than encouraging people to save we are enticing them to spend.  Rather than creating jobs, we are merely creating unemployment benefits
As a result, instead of seeding the soil for a real recovery we are setting the stage for a prolonged depression.

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I just want to say don't be fooled by anything Obama says. He is a Liar and is purposely breaking our dollar. He is working on behalf of the federal reserve bank. The world bank owns 35% of the federal reserve. China and Britian bought our debt which is some of the reason for Obama commisioning the Interpole. The New World Order needs a controlled currency. So our money MUST FAIL.
Obama is the worst president in our history.It's bad enough that he is completely incompitent,but he is a muslim,anti Israel,anti Constitution, and anti Freedom and Soverign.
One more thing I would like to say is, isn't it funny who Bush and Clinton are now just best pals. That's because they have been granted immunity from our deficit and debts from The world bank and interpole. So now they are doing what they are told to not jepordize this.
It's simple dear, you just hate evil. The Bible says to be innocent of evil, and to have No fellowship with unfruitful works of darkness whose end is to be burned.
I pray the Lord will see us through this horrible mess .....I keep thinking He will intervene and save our Country from anihilation .....will it happen in time .....??? God Bless America
If you're interested peggy, take a look at my page. It is a little deep, but you can read my message " The Truth about Our Country." There is much prophecy in The Word of God Concerning this Country. Only Trust in God's Word Alone, not any man(not even me), only those who are His servents,in Obedience to Him. The Word of God and Time will tell the Truth. Many many Preachers that are supposed to be Christian are watering down the truth and even Lying about things. Only Belive God's Word, Fast and Pray, if you really want to understand our fate and The Lord will show you.
I don't have anything Figured out, I only just Obey Jesus Chist and Hear His Voice." Who is blind and Deaf but My servant and where unto I send Him."



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