The Greater Depression is HERE. The time to prepare for coming dark days is over. The time to protect your family and wealth is NOW. Fortunately, there is still time.
Banks are failing at rates even higher than last year. Despite the assurances from the White House that the economy and employment are growing, UNEMPLOYMENT is already at a level unseen in the U.S. since the Great Depression, and the situation is getting worse.
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2 Things About the Obama Campaign
2 Questions:
1. How important can the endorsement of Barack Obama by Colin Powell be, considering:
Colin Powell is the one, as Secretary of State, who delivered testimony about Iraq having the Weapons of Mass Destruction. If he’s so good, why didn’t he know that wasn’t true? If he DID know it wasn’t true, why didn’t he resign, rather than lie to us?
2. Why isn’t the media holding Obama to his promise to take federal campaign funds, thus limiting his ability to raise money himself. The answer is this: The media is profiting from a staggering $150 Million he raised last month. They get a huge windfall in tough economic times for television and radio and in return, they support Obama.
I’m no fan of John McCain, but what a mess we’re in for. The problem with an Obama Presidency is that the real issues will be overshadowed by the ones that don’t matter: Race, experience, the charge that will be leveled that Obama bought the office. It’s all going to take away from the real problem – that we’ve entered the most dangerous recession of our time, and will probably suffer a Greater Depression.
I predict the race issue will be a big problem. A big portion of the U.S. is simply not interested in a black President. Militant and vocal Black America will soon become disillusioned when things don’t change overnight to put them on top. Liberal White America, who (if it happens) will have elected Obama, will bear the brunt of the Militant Black community’s anger. After all, the Democrats are still basically white. With the “super-majority” in Congress they expect to get, the Democrats will be seen as blocking Black America’s triumph. The backlash could be devastating, and won’t help anyone.
I don’t envy Barack Obama if he becomes President. Black America will expect to see a White House and Administration filled with African-Americans. Liberals call fears of that “racist,” but only because they don’t believe it will happen. If it doesn’t happen, Obama has problems with Black America, who will believe they’ve elected him. If it does happen, it will scare a lot of non-black people who will have voted for Obama, and they will start to reconsider their previous assertion that “race doesn’t matter.”
Sadly, it does.
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Am I Rich?
One of the topics of the recent debate between John McCain and Barack Obama at Rick Warren’s church was “how much money do you have to make to be rich?” Predictably, the candidates differed dramatically in their answers. McCain said “$5 Million,” and Obama replied “If you’re making more than $250,000, you’re doing pretty well.”Both answers were ridiculous. In a piece from NPR’s Day to Day, available via podcast here, Jared Bernstein points out that you can’t label someone as “rich” with just an income figure. Where they live makes all the difference. He’s exactly right.
At this point, our economy and culture is most certainly NOT in a position to start disincentiving high income earners from continuing to work. Let’s say a married couple is at the $350,000 income range, living in a city where it’s fairly expensive to live. They have children, and pay a LOT for after-school childcare, both in activities and nanny services to get the children to where they need to go. For the most part (after $5000/child, anyway) they have to pay for all that with after-tax dollars. Expensive.
At some point, as taxes for this “rich” couple go up, when taxes are raised, which an Obama White House and Congress will certainly make happen, the couple will reassess, and may decide that for economic and lifestyle reasons, it makes sense to give up one job and move somewhere less expensive. The end result will be one high-earning partner out of the workforce, and more importantly, one less Social Security contributor at a time when the Boomers are starting to retire in larger and larger numbers.
Good strategy, Barack. Straight out of the Clinton early 90s playbook. Thank goodness our economic situation in this country hasn’t changed at all in the past 16 years.
But then again, maybe the Democrats’ plan is to accelerate the bankruptcy of the entitlement programs the boomer generation have been counting on all along. Remember, big government politicians rely on a dependent population for their power. Congress has their own retirement programs and don’t participate in Social Security. They can bankrupt all the entitlements they want without ever worrying about missing a check themselves.
They’re immune from a lot of the damage Obama’s plan would cause.
But are you?