Fear mongering Obama said, “In short, a bad situation could become dramatically worse.
Obama is so very very wrong.
When you are deep in debt, you don’t rectify the situation by borrowing more and going even deeper into debt.
Obama must think we are all stupid.
The bailout is not to create jobs, but to preserve corporate America, the property of the rich, at the cost of enslaving the American people.
Not only is Obama going to drive the US deeper into debt, he is also going back on his word to repeal the tax relief given to the rich.
The tax relief given by Bush to the rich did nothing to help the economy. Look where we are now. Joseph Stiglitz, the Nobel Prize winning economist wrote in the latest Vanity Fair, that the tax cut for the rich did nothing to help the economy.
Is Obama stupid? Are his advisors ill-informed? I think not. Obama and his team know very well what they are doing. Obama is about to pull off the biggest multi-trillion dollar rip-off in history.
Bernard Madoff ripped off $50 billion from his investors. Obama will be multiplying that by a factor of 20 in his rip-off of the American people.
Who will lend us the trillions of bailout dollars for Obama’s plan? Probably no one.
So where will the money come from? It will come from the devaluation of the dollar, and a crushing tax burden on the American people for generations to come.
The Great Depression II will last for the rest of our lives, and beyond – but maybe not for the very rich.