Skip to comments.Obama's Inflation Is At Hand And Will Be Many Times Worse Than The Carter Era.
Posted on 09/16/2010 2:44:01 PM PDT by Armaggedon
Obama has danced away trillions of dollars to the tune of wealth redistribution. Now we must pay the piper. When Carter played this game he brought double digit inflation upon America along with 20% loan rates. America had to pay the interest on its debt at these higher rates. That set up a loop that almost destroyed the USA economy. Regan turned that disaster around. The Obama disaster will dwarf Carter's debacle. As interest rates payed upon the trillions we owe rises, we fall. Inflation will explode to the sound of trillions of dollars being printed by the Federal Reserve. There will not be enough money in the entire Gross Domestic Product to pay that interest let alone anyone with enough left to tax.
Obama has spent trillions more than any president before him and when interest rates skyrocket because of inflation, the bill will hit and bust the American treasury. Gold is making new highs every day now. At one point there wil be the perception that it can only go up and prices will explode. Gold could rise hundreds of dollars a day when a fear and greed panic hits and Obama, who set this up will not be able to stop it.
Obama a true Marxist will blame the rich and try to use his own self made crisis to grab even more power against those whom he will blame for the disaster. As for the people, they will suffer. Obama will impose rationing and severe government control. Obama has shoved the progressive agenda down America's throat and we are about to throw up.
If enough people wake up now for the November election and there are not too many irregularities and corrupt progressive election schemes, there may be some hope. However, we will still have all Obama's programs and his veto power. The change that works cannot be just political. There has to be a rebirth of the American spirit We must re-dedicate one Nation under God with true values, honor and purpose. Then we can overcome the great challanges that we face. We need a divine compass set on God or we will fall into the pit Obama and his progressives have dug for us.
Much is being hidden from the American people before the election. The other shoe will fall soon after. A few months and scarcity along with inflation shall be upon us. Are we centetered under God, so we handle whatever comes? Trust in God and the people that awaken in the United States of America. We need a light unto the nations, not an Obama nation of desolation.
You have no right to spend the money that has been borrowed in your name, and you can not direct its course.
In some quarters, it is called 'identity theft.'
If you have a family of four, Obama has borrowed $120,000 per year on your family.
All of which your family will be responsible for.
It is as if you and every member of your family have decided to go back to college at a very high-priced private college, for the rest of your life.
And, you and your family will not have a degree to show for it, nor will you be able to pay back ANY of the loans.
“A few months and scarcity along with inflation shall be upon us.”
I don’t think so. I believe we are years away from problematic inflation, and won’t see hyperinflation. We have overcapacity in almost all areas of production.
However I have prepared for all possibilities except asteroid collision, while leaning toward preparation for more deflation. I think there will be plenty of time to prepare for inflation before it becomes an issue.
Good luck with your preparations and investing.
So much politics and so little wisdom. We cannot get something for nothing. That is where Obama has put us. He is trying to make bread out of stones. Obama is failing and we will have to deal with the crisis. This is the most challenging time our Nation has ever faced. It is time to look up.
It’s amazing how many times here I’ve seen Reagan spelled Regan.
You are correct. He was a powerful Father figure and a tough guy. Everybody on the left said he would not keep up in Iceland and they were made out as fools. The same fools make the same claims today. It is a sickness only God can cure.
If you don’t believe this post, you’ve been making your spouse do the shopping. There is no question we are duplicating the mistakes of the Carter era. Watch it expand geometrically after November if the vote doesn’t go right. Obama, Reid, and Pelosi could very well take us into soup lines. Did you watch the news tonight? Yo Rush, get on this!
Personal consumption expenditures rose 0.4%, month over month which was slightly ahead of the consensus estimate. Stripping out price increases, however, real personal expenditures were up just 0.2%.
IE: price increases accounted for half the rise in “Personal consumption expenditures” in July.
You are certainly right about Obama’s policies, FRiend. There is a deflation camp and an inflation camp formed as a result of not just his policies, but the policies of the last 50 years. Sounds like you already understand all that.
So we will see, inflation sooner, or later? I think it’s going to be later after some years of stagnation and I don’t expect hyperinflation even then.
On the other hand the true treasure of America is her spiritual foundation. It is a tale of two kingdoms. We serve Baal or God? Obama or our LORD God? I trust millions are waking up. It is ok to love and serve A God of love and truth and life. That is the kingdom of heaven on earth. The Obama nation will blow away in the wind.
“I believe we are years away from problematic inflation, and wont see hyperinflation.”
We have a curious mix of inflation and deflation. At the grocery store I’ve observed price increases in a number of product categories, executed by decreasing the contents of a package. For example a 16 ounce jar of spaghetti sauce now containing only 14 ounces. A 12 ounce box of crackers now containing 10 ounces. A half gallon container of Ice cream has 28 ounces. Check jars and boxes carefully and you will see price increases through declines in content.
On the flip side, prices of LCD TV’s are dropping rapidly. I’ve been price comparing over the past few weeks. The week after Labor Day a particular item I’ve been following dropped $500 at Best Buy and has stayed at what was a promotional price the first week. Ford has cash back deals on its new 2011 trucks. Hotels continue to have compelling special offers.
In my own business, raw materials are under considerable upward pricing pressure. Increases of 6 to 8% are not uncommon after a decade of flat or declining prices. Some of my competitors have executed price increases and I’m considering matching them.
Still no pressure on wages, in fact with high unemployment people are willing to take less, even people who are currently employed but looking to escape a bad environment.
Japan has far more debt, has been spending far more than the U.S., and is in far worse shape (declining population) than the U.S.
...yet Japan has had deflation for 21 straight years.
And that’s what we’ve got here in the U.S. with lower housing prices now than 2006, lower stock prices now than 2008, and lower oil today compared to 2008.
Debt is deflationary.
If there’s no inflation then why would half of the increase in July personal consumption expenditures (my post above) be the result of price increases?
That really bothers me, perhaps I misunderstand something.
Call me when you have a specific date that home-prices and salaries will begin hyper-inflating.
Until then, yes, you’ve missed something.
Interesting reply, thanks I’ll keep an eye out for Aug. numbers.