Thursday, December 23, 2010

Progressive Buffoonery

Dr. A.H. Krieg

The news coming from Washington is getting so depressing that one is hard put to find the brighter side of life. My youngest son called me yesterday and gave me the latest news on Obamacare, well, you know, the universal healthcare system that was the panacea for all of our concerns about health. The system that would reduce costs, increase coverage, and help all those mythical 50 million uninsured Americans get coverage, and save the nation. Seems that his wife is pregnant with their second child but his employer could no longer afford the healthcare coverage previously granted, under Obamacare he had to expand partial employee plan contribution that will now increase his costs substantially, oh, and just by the way maternity coverage is no longer available The birth sometime in late spring of 2011 will cost him over $ 5,000 out of pocket; thanks Progressives!

My elder son’s also partially funded by his employer coverage also indicates a reduction in maladies covered as well as larger deducible, and higher premium. Thanks Progressives!

Seems that everyone I speak with tells the same story, my premium is going up, my employer has reduced coverage and my contribution has increased from between $800 to $3000. Didn’t the progressives promise the exact opposite? Thanks Progressives.

You’d think that this would be enough for them, but, oh no, its barely the beginning. This lame duck bunch of morons not only missed the message of the 2010 election; they are going to ram ever-goofy left wing spending policy and idea down the American publics’ throat whether they like it or not.

Don’t ask don’t tell removal was enacted last week. I was in the army in the 50’s. The French army, probably the biggest joke of the 20th century had integrated homosexuals into their army in the 20’s after WWI. They were a pathetic joke! Often troops marching down the road held hands. They, as an army in the 50’s, were the worst equipped, worst trained, and most unreliable military of NATO. When France declared war on Germany starting WWII they outnumbered the German army on a seven to one basis the Germans wiped them out in less than a week. The German policy on fags was to send them to KZ for reeducation. On this issue the camels nose in now under the tent flap, the body in the form of nationally legalized fag marriage, national non-discrimination job security for fags, hiring preference and minority admissions for college, jobs, government employment etc. are all sure to soon follow. Thanks Progressives!

Without a whimper from congress, the fool in charge allowed his buddies Tricky Tim and Dopey Benny to stuff another borrowed $600 billion of unfunded borrowed fiat cash into the economy. The fact that all the last injections proved useless seems not to have registered. Could it be the climate in DC? Just so you are cognizant, absolutely no one outside of the FRS has any idea where to whom and for what the money went. Let’s see, that brings the total including interest to just over 4.4 trillion, not exactly a paltry sum, it brings the national debt to a stratospheric $14 trillion on the books and $202 trillion off the books, amount greater than at any previous time and larger than the entire world’s economy. Thanks Progressives!

The best but most secretive to this time is “Obamahome”, another plan just instituted last week. This new initiative will give homeowners who meet their mortgage term contracts a $ 5,000 tax credit, provided for with borrowed funds. Well, why the hell not, these are the people who irresponsibly entered into a mortgage agreement that was then picked up by bankrupt Freddie or Fannie, that was given a blank check by “Fearless Leader” that is today over three trillion dollars and climbing. Thanks Progressives!

Thank God, the continuing budget (pork) bill failed. It would have added another $ 8 billion in unfunded pork mandates and over 6,000 earmarks for 2011. Thanks Conservatives! Well, there just has to be some good news!

So here we are. What have Progressives accomplished in the three years that they have controlled Congress and the two they controlled the White House? The dollar is declining at a unprecedented rate. Since Obama took office the dollar value against a bundle of currencies and hard assets has fallen over 10%. That’s why commodities like gasoline are in such sharp price rise. Foodstuffs are up 40% and will continue to rise; this is partially due to ethanol production from corn and horrendous ethanol production incentives and tax exceptions and direct aid to farmers, seed stock producers, distillers, and distributors. Oh, and just by the way, the U.S. Dep. of Labor informs that inflation is at 1.2% by omitting food and energy from the equation. In fact as a stand alone product without government aid ethanol is substantially more expensive than imported oil and would not exist in an open free market. Due to value drop of the dollar copper is up 170%, Silver is up 140%, Corn is up 50%, and Soy is up 28% and gold, well who knows, the sky’s the limit? Thanks Progressives!

Then we have the 9-11 responder’s health bill. Now, I would not deny these heroes healthcare, but that matter was settled a long time ago with cash payments. They claim it will only cost $8 billion and will be funded by doubling the price of H-1B visas that will be paid for by industry. This is all without justification, evidence, congressional oversight, or congressional hearings. Thanks Progressives!

On the home front seniors are being screwed so hard and so fast paced that it make your head spin. The BS $ 250 that Obama promised seniors on SS to get their vote also evaporated. There has been no COLA increase in Social Security and most SS recipients are on fixed incomes. There will be no COLA increase in 2011 the third year in a row. We paid in for over 35 years and now we get the shaft! This, based on real market parameters means a reduction of about 27% in the income for seniors. In the case of my wife and me that is a reduction of income of about $2,200.00 per year or a loss of $6,600 in the last three years. Thanks Progressives!

This Progressive money-spending stampede, which shows no end in sight, will result in some very deleterious happenings in the coming two years. These are predictions I based on the premises that congress will continue as they have done in the past three years.
I predict that unless drastic changes are made in the manner in which congress and particularly the House behaves that the dollar will collapse. The end of the dollar as world reserve currency and all that this will entail for America is in sight and may be anticipated within the coming two years. This will trigger massive price increases across the board for all foreign made products and commodities. What I mean by massive is 70 to 90% price increases in the first year after the dollar is no longer world reserve currency. By the end of 2011 our government will default. By late spring 2011 the huge national municipal bond market collapse will trigger an impossible bond market failure that the feds will be unable to save. All municipal union pension contracts will be downwardly renegotiated. The FED will be unable to pay the interest on the debt, they are as I write, monitorizing the dollar, which they started doing in March of 2009. This is when the government is unable to sell their bonds (T-bills and T-Notes) even at granted interest and even discounted and with an inflation guarantee, purchasing the notes back with money printed over the weekend. [A left to right pocket transaction] Many of our creditor nations will stop accepting the dollar in payment for goods. This has already happened with Venezuela, Libya, Iran, while Russia and China have concluded an agreement to only trade on foreign markets in their own currencies. Consumer debt as of December 2010 exceeds $ 8,200.00 per American Household. And let me clarify for those still confused. Market graphs from 1936 to 1940 mirror those from 2007 to 2011. We like Roosevelt, have started wars in effort to prop up employment, the dollar and our economy, I’d bet on a repeat of those results.

Should congress and I mean the House where all government spending originates from, come to its senses, something that in my opinion is highly unlikely, the problem of reducing or repaying the national debt remains. The only way that this debt can be reduced is through massive inflation so that payback will be made in cheaper dollars. Inflation will ruin what little after thirty years of free trade is left of our economy, and bring America to its knees. Thanks Progressives!

Read Dr. Krieg Book Money…a primer from all booksellers and Apple E books.


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