Two pieces of great interest to people opposed to Obama's bizarre accumulation of debt and his reduction of our nation's security: (Gov. Palin asked yesterday why Obama is cutting Alaska's missile defense at precisely the moment when North Korea seems to have drawn a nuclear bead on Sarah's home state. Obama has not provided any soothing, albeit meaningless, words to her yet.)First, please consider listening to (and calling) the all-night Blog Talk Radio program originating Wednesday night. It should be a dandy.
Host: THE YOUTUBE FORUM
Type: Party - Night of Mayhem
Start Time: Wednesday, April 8, 2009 at 8:30 pm
End Time: Thursday, April 9, 2009 at 10:00 am
Description: "How to Bring the Internet Resistance to the Ground and Ways We Can all Work Together."
W.A.M. Strategist and Tsunami Media founder, Jacquerie.
This program is dedicated to a current vlogger (sallee5) who was suspended for exercising her 1st Amendment Rights. Anyone who would like to call in and comment about the outrage of her suspension please participate. 8:30 PM EST. Call-in Number: (718) 508-9104. Caution! Danger Zone! Please come locked and loaded! Molon Labe!
Second, if you're disturbed by the current economic situation and wondering what caused it, please read the following story in The Atlantic: http://www.theatlantic.com/doc/200905/imf-advice.
The story by an MIT economist is called "The Quiet Coup," and it appears in the May 1 issue of The Atlantic. If you ever wondered why investment banks (which no longer exist as such) and other financial institutions, including Goldman Sachs, Merrill-Lynch, AIG, and Citigroup contributed millions of dollars to candidate Barack Obama, the Atlantic piece will give you great insight. (You may have noticed that said financial institutions have gotten hundreds of billions of dollars in bailout money, while, say, autoworkers, are getting squat. Guess why.)
Also, Glenn Beck has discovered one of my favorites, Niall Ferguson, an economic historian at Oxford, Standford, and Harvard -- and that's saying a lot for a guy (Ferguson) who's basically conservative. On today's (Tuesday's) Beck program on FOX, Niall discussed how he predicted -- in 2004 -- that debt would eventually crush the U.S. economy (in his book "Colossus: The Rise and Fall of the American Empire).
Another piece that predicted exactly what would happen (in 2005 in the magazine Foreign Affairs is by Brad Setser and Nouriel Roubini. It's called "How Scary is the Deficit?" It's at: http://www.foreignaffairs.com/articles/60840/brad-setser-et-al/how-scary-is-the-deficit
At the time, some economists made fun of Setser and Roubini for suggesting that the unthinkable might happen -- i.e., that both housing prices and the stock market might tank. None of those critics is laughing anymore.
Basically, what Setser, Roubini, and Ferguson point out is that the U.S., under Clinton and Bush, made a "Deal with the Devil," Communist China. They would finance trillions of dollars of our debt, and in exchange, we would send all the money (plus some more) back to China to keep their factories humming 24X7. Obama's "solution" to the Deal/Devil is to increase sharply the borrowing from China -- the better to keep those Chinese factories going (while ours of course shut down).
The "good news" about Obama's policies for those of us in the current generation is that the truly crushing part of the debt will be paid off by future generations, specifically, our children, grandchildren, and great-grandchildren, who may end up not liking us very much when they find out we've arranged to have them pay our bills. I wonder what Malia and Sasha will say to daddy (and mommy) when they find that out?