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Obama Is Leading the Way Toward Economic Catastrophe

"Important trading partners—Japan, China, others in Asia—are employing a nasty trade strategy from the early thirties known as "beggar thy neighbor." They are weakening the value of their own currencies (and boosting the dollar's value) so their exports will be cheaper than competing American products. The US trade deficit is now rising steadily..."
to read William Greider's article published in The Nation February 9, 2015, click on


"Disregard the happy talk from the Obama White House. The stagnant global economy remains at the precipice of something worse unfolding—full-blown deflation. And the so-called recovery in the US economy remains shaky, despite good employment numbers. Here and abroad, the governing authorities seem to have forgotten the most basic nature of our situation. We live now in a globalized economy where one nation's cold can lead to another country's heart attack. Their ignorance is shocking, but also dangerous.

In fact, the US and other leading economies are beginning to mimic some of the same grave errors governments committed in the distant past, circa 1929, when spreading collapses of banks and financial markets morphed into the Great Depression. I am not predicting such a catastrophic outcome, not yet anyway. But the risk is present. The road to the Great Depression was paved with similarly myopic strategies. This president is not Herbert Hoover. But he might someday be remembered as Wrong-Way Obama.

The misdirection of government power suggests that many leaders don't believe things were changed that much by the breakdown of 2007. They are still looking backwards, complacently doing the same stuff that failed sixty and eighty years ago..."

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Its Not Obama, Its not the GOP, its us.. 10.Feb.2015 11:37


Lets be honest with ourselves for a moment, if that possible.

Obama is merely the symptom of the problem. The face of it. Our national Debt is now $18,000,000,000,000.00 and growing. Each one of us has spent some of that money (if you are old enough to read this). Each one of us owe part of that too. It was borrowed against Social Security, and to foreign governments as well.

We have over $130 Trillion in unfunded liabilities over the next 30 years. The only way out of this is massive inflation, unless everybody wants to pony up $100,000.00 each?

Zimbabwe anyone??

We allow our politicians to blow our children and grandchildren's future so they can buy reelection. If we were really worried about our future generations we would suck it up and deal with it now.

Oh for your wise analysis 10.Feb.2015 12:20

give us a break i

That is what this indy website is for to --> ""If we were really worried about our future generations we would suck it up and deal with it now.""

Yet you continually post here on indy, derailing the solidarity and activist efforts "that are trying".

Can you (will you) some support for the people who are trying to: ""suck it up and deal with it"".

I long for more of your replies, with words of wisdom, sent from your armchair, to an activists website [enjoying the anonymous feature] so you can post negative points to every issue that is brought up.

Bored, you cant be, with all your insight posts, [that rubs against the grain of those who are "doing things and who are trying to hold leaders accountable"] yet you deliver with vigor and spin straw-man scenario's and capitalism propaganda endlessly.

Obviously you are NOT here to help the situation like the rest of us are here and have been using indy to ""suck it up and deal with it"".

Tell me it isn't so

Tell me it isn't so 10.Feb.2015 13:19


wo ist I, for thou ist more noble than I..

Its just all the self serving blather here about the environment means nothing if your country goes bankrupt and people strip the land bare, while those middle class enforcers (the police, the EPA agents, etc.) are bribed to look the other way in order to feed their children.

Just look at Russia / Ukraine in the 1990s. Don't want to follow the rules, just dump the toxic sludge in the creek out back and give the cop a few bucks to ignore you. He takes some of the bribe and passes it to his superiors up the chain of command for allowing him to keep his job.

If your so worried about the future, and legacy and how you are viewed by those descendants, then the financial environment should get equal treatment.