TBD on Ning
Is Obama trying to bankrupt America?
Inquiring minds want to know: Is Obama trying to bankrupt America? One short year ago, asking this this question would have guaranteed my inclusion among the ranks of right-wing nuts and/or conspiracy theorists. Today, it is a serious question being asked by Neal Boortz, Rush Limbaugh and many other leading conservatives. Here's why.
In the summer of 2008, as John McCain and Barack Obama were campaigning for president, a series of economic events (started by Sen. Schumer) resulted in shifting the focus of the presidential campaign off the Iraq war, and on to the economy. These events ultimately resulted in Barack Obama's election as President.
June 26, 2008: Democrat Chuck Schumer leaked a memo questioning the solvency of IndyMac bank. This memo precipitated a run on IndyMac which led to its failure. Federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank's failure. "The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York."
This event, coupled with the Lehman Brothers collapse in September, marked the beginning of the current economic meltdown and provided the ammunition for massive government intervention in the private market.
July 12, 2008: The federal government takes control of the $32 billion IndyMac Bank. *
Sept. 6, 2008: Fannie Mae begins its downward spiral, which will end with a crash in November. This crash was avoidable, as the problems with Fannie Mae and Freddie Mac were identified in June of 2006, when 15 Republicans on the Senate Banking Committee introduced legislation to address the problem. Democrats, led by Barney Frank, killed the reform efforts.
Sept. 15, 2008: Obama and McCain are virtually tied in their race for the presidency. Out of no-where, in the space of less than 2 hours, the Federal Reserve noticed a tremendous drawdown of money market accounts in the U.S. to the tune of $550 billion. Rep. Paul Kanjorski of Pennsylvania said that if authorities had not closed the banks, $5.5 trillion would have been withdrawn from US banks, which would have caused the collapse of the US within 24 hours.
This seminal event marked the ascendancy of Obama's candidacy, and eventually resulted in his election as president.
Its no secret that Obama is a member of the far left. And he has staffed his administration with fellow ideologues. Leftists, like former Green Czar Van Jones, who states he is an "advocate for a socialist utopia." Who believes that capitalism is "oppression and exploitation."
People like Ron Blume, who was appointed to reinvigorate the manufacturing base, who states, "We know the free market is nonsense."
Any economist can tell you that raising taxes, increasing debt, printing money and unbridled spending is not the way to handle a recession. So either Obama is ignorant of this, or he willfully chooses to ignore the lessons of history. Or he is adopting a strategy outlined by Cloward-Pivens: Overwhelm the system until it fails, and then replace it.
Based on Obama's actions to date, reasonable people must allow for the possibility that the change Obama promised may include destroying the free market economic system in order to replace it with an economy regulated by government entities.
Spending America into bankruptcy might just be our president's way of leveling the global playing field. By bringing Americas to its knees. Based on Obama's actions, and the actions of his appointees, its time to seriously consider if destroying our economy is Obama's goal.
*Portions of this article were taken from A Contrived Crisis? Feb. 23, 2009
Nancy Morgan is a columnist and news editor for RightBias.com
She lives in South Carolina
In the summer of 2008, as John McCain and Barack Obama were campaigning for president, a series of economic events (started by Sen. Schumer) resulted in shifting the focus of the presidential campaign off the Iraq war, and on to the economy. These events ultimately resulted in Barack Obama's election as President.
June 26, 2008: Democrat Chuck Schumer leaked a memo questioning the solvency of IndyMac bank. This memo precipitated a run on IndyMac which led to its failure. Federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank's failure. "The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York."
This event, coupled with the Lehman Brothers collapse in September, marked the beginning of the current economic meltdown and provided the ammunition for massive government intervention in the private market.
July 12, 2008: The federal government takes control of the $32 billion IndyMac Bank. *
Sept. 6, 2008: Fannie Mae begins its downward spiral, which will end with a crash in November. This crash was avoidable, as the problems with Fannie Mae and Freddie Mac were identified in June of 2006, when 15 Republicans on the Senate Banking Committee introduced legislation to address the problem. Democrats, led by Barney Frank, killed the reform efforts.
Sept. 15, 2008: Obama and McCain are virtually tied in their race for the presidency. Out of no-where, in the space of less than 2 hours, the Federal Reserve noticed a tremendous drawdown of money market accounts in the U.S. to the tune of $550 billion. Rep. Paul Kanjorski of Pennsylvania said that if authorities had not closed the banks, $5.5 trillion would have been withdrawn from US banks, which would have caused the collapse of the US within 24 hours.
This seminal event marked the ascendancy of Obama's candidacy, and eventually resulted in his election as president.
Its no secret that Obama is a member of the far left. And he has staffed his administration with fellow ideologues. Leftists, like former Green Czar Van Jones, who states he is an "advocate for a socialist utopia." Who believes that capitalism is "oppression and exploitation."
People like Ron Blume, who was appointed to reinvigorate the manufacturing base, who states, "We know the free market is nonsense."
Any economist can tell you that raising taxes, increasing debt, printing money and unbridled spending is not the way to handle a recession. So either Obama is ignorant of this, or he willfully chooses to ignore the lessons of history. Or he is adopting a strategy outlined by Cloward-Pivens: Overwhelm the system until it fails, and then replace it.
Based on Obama's actions to date, reasonable people must allow for the possibility that the change Obama promised may include destroying the free market economic system in order to replace it with an economy regulated by government entities.
Spending America into bankruptcy might just be our president's way of leveling the global playing field. By bringing Americas to its knees. Based on Obama's actions, and the actions of his appointees, its time to seriously consider if destroying our economy is Obama's goal.
*Portions of this article were taken from A Contrived Crisis? Feb. 23, 2009
Nancy Morgan is a columnist and news editor for RightBias.com
She lives in South Carolina
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Replies to This Discussion
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Permalink Reply by Mother Sanity (JackieRodzinski) on
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Naw. He's just some poor SOB stuck twittering with the books after the last nitwit.
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Permalink Reply by P.A. on
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No he is not. He was left one hell of a mess with all sorts of wars, and other crap kept off the books. He is trying to save the country but people like you miss morgan a determined to destroy it. Can't you see that your ideas don't work. They have been tried since Reagan and only put us deeper in debt and made the world hate us. Even your own time line shows where the mess started.
Also I am tired of seeing your hate filled rants on here.
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Permalink Reply by Nancy Morgan on
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You've bought into talking points. And yes, my ideas work - Reagan and JFK proved that cutting taxes ignitesd the economy and also increases total tax revenue collected.
You need to look at Obama's actions instead of his words.
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Permalink Reply by Ruby Red Crystal on
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Yawn.......
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Permalink Reply by CWO3ROBBIE on
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Wow! This is a really good, well thought out piece. Lots of confirmed facts and unrivalled innuendo. I think you should have your own radio show.
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Spoken by someone who I'd bet has never listened to Limbaugh
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Permalink Reply by funesthememorious on
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And it took you how much time to figure this out? Apparently us socialists have always been smarter and more sophisticated than the right.
Well, since you have some inkling, I guess we should let you in on our ultimate plan.
1. Sell the continental United States to Norway. Russia and China can fight over Alaska and Hawaii.
2. Transplant the right wing kooks to Mexico, the new country will be called MexiJesus. I'm hoping they are all Christian anti-abortionists there. You can work in shoe factories for a dollar an hour. Luckily there is a big fence there to keep you confined.
3. Canada will become home to the rest of us - henceforth it will be named CanaSatan.
4. We'll take the EPA, gay and lesbian rights, social security, child labor laws, elderly rights. You can take....well nothing I guess, since you have't come up with an original idea in 50 years.
5. Wait, you can take all your intellectual giants with you; Bush, Palin, Limbaugh,O'Reilly.
6. I suppose you can keep busy invading socialist countries down there and killing the poor.
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you people are mean.
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Permalink Reply by darroll on
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Nancy you are back.
The American people did vote for Obama.
One liberal told me the reason:
To get even with the rednecks.
I don’t ask or don’t tell anymore.
I did dig up a bad example of excessive spending.
The Euro is on its butt. It seems Spain and Greece have increased their spending on social programs in the middle of a recession and this is trashing the Euro.
We can only have bad news so long, then it should change, I hope.
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Permalink Reply by Dazzling Zoomer Gal Diana on
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Nancy Morgan is a columnist and news editor for RightBias.com
She lives in South Carolina
Why is this woman's political blog in our forum again advertising herself and the corresponding web site? I thought this was dealt with and she was directed to the BLOG section.
Answering her political rants here in a venue that we normally reserve for fun will just continue to encourage her.
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Permalink Reply by Slayer Dug on
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Why is it that the term REDNECK gets dumped on everybody that disagrees with the policies of the current administration? Is it really any more/less derogatory than calling somebody a dirty tree-hugging commie liberal?!!!? I mean c'mon, aren't we supposed to be above all of this partisan vitriol?!!!?
I'm a Southern born, caucasian male of Eastern European descent. Some would call me a redneck based on that fact alone but once they got to know me and realized where my mindset is, they would recant their prejudicial name-calling.
Look at the state of our nation. Is George W. Bush solely responsible?!!!? NO. He's just a convenient scapegoat for people too nearsighted to realize that it's taken the actions and policies of every administration prior to "Dubya", going as far back in recent history to Nixon (and prior to...) to put our nation in the state that it's in.
This partisan name-calling and finger-pointing is just the type of internal dissention that the globalist forces of The Trilateral Commission, The Council On Foreign Relations and The World Bank foster within nations where their pawns are in place, affecting every aspect of that nation's Executive, Legislative and Judicial processes.
Just in case you were wondering-and even if you weren't, you might find it interesting to know that Mr. Obama, Mr. Biden, Mrs. Clinton and Mr. McCain are all members of the CFR. Henry Kissinger, Cyrus Vance and Jimmy Carter were members of The Trilateral Commission. With a deck of cards like that stacked against "WE THE PEOPLE", who can you trust?
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Permalink Reply by J Lee S on
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6. Make every effort to keep the community engaged in interesting content and informed debate. I will not contribute content that is overtly commercial, or in any other way degrades or compromises the integrity of the community. You are welcome to include links to other websites, information about business endeavors, products, and services on your profile page but such links and information are prohibited in blog posts or Forum discussions.
As you Dazz, I am confused about the guidelines regarding this, not the guidelines exactly; more the enforcement of them. Hiya Dazz!!
Just noticed...her Rightbias isn't a direct link.
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