“YES WE CAN! YES WE CAN! YES WE CAN!”
These are some of the things I heard being chanted Tuesday night after the election was all said and done, and Obamanation was in full glory mode. I watched the hysterical pundits on TV for a bit and then stopped by a bar, where drunken nonsense actually made the whole thing more tolerable for me (clearly nobody was thinking, and I actually had sympathy for these blind cult worshippers who downed red, white, and blue drinks to honor the new messiah)!
This election was decided by the mainstream media, just as the McCain GOP nomination had been media-driven earlier. It wasn’t hard to present Obama in a favorable light, as the “common man for the common man”, and of course the first black president (as if race should be criteria for anything). He’s undoubtedly the best speaker we’ve seen as president since Ronald Reagan over 20 years ago. Can these orator skills add up to good things for the American people?
There were no discernable differences between the two candidates in terms of policies, and the fact that they both voted for the grand larceny of the American people (aka bailout) a month ago, should tell you all you need to know about these two wanna be Criminals-In-Charge.
In any event, we now have the reality of an Obama presidency. What does it mean to you and your money? To the country? To the world?
A friend of mine sent me his analysis and predictions, and I’d like to go over them and comment:
a) Obama will redefine “upper class” to be like, 100K (that was his original number before the primaries. It was pissing people off so he changed it to 250K. But it will sink back. 100K is not wealthy or even doing well. Its barely subsistence in the Bay Area for a family of four. You can’t buy a home or a new car or take a vacation outside the state on 100K a year, let alone save any money for retirement. I know because I’ve tried. It’s pretty much impossible.
I agree with this prediction. In fact, Obama has already lowered the cutoff for upper class at $200k. It will likely come down further, even as our dollars become worth less. Or worthless!
b) inflation and unemployment both over 10% (largely due to all the bailout/foreclosures/moneyhoarding), but also because capital is already leaving industry and getting into passive investments like government bonds. How can you create jobs and make money cheaper when you only invest in the fake money itself? Or course things will not end well from this cycle.
c) warfare and aggression takes a new turn into Afghanistan as Iraq subsides. Gotta keep Haliburton and Blackwater and all the plane, bomb, and bullet manufacturers happy.
Probably they’ll put on a new “terrorist” attack to renew interest in this second round of war.
d) massive food cost increases. It is the next commodity bubble. There will be some litany of excuses, just like there were with oil.
This is almost certain to happen in the next few years. The crash of the dollar will bring the food cost increases on. There will likely be civil unrest in Obama’s first 4 years.
e) massive entitlement program spending, New Deal stuff. Except it will really be more indentured servitude than an industry. essentially he will have to either let all the illegals stay or put Americans to work in low paying yet federally subsidized positions (National Lawn Care?)