Article IV, Section 1 "Full Faith and Credit" Clause of the United States Government.
"This is the worse post recession recovery in American history," as the stock market reaches new highs, compliments of the Federal Reserve's money printing. It is hard to fathom how the elites and intellectuals can get it so wrong that they fall for falsehood after falsehood. The smartest people in the room have been foiled no less than Hitler's mesmerized disciples, or Mao's little-red-book of communized socialist fellow travelers, or Stalin's scientists who guaranteed that wheat could be grown in the coldest, most inhospitable climates.There is no such thing as bad news affecting the stock market. People dropping out of the job market, the war in Iraq, negative GDP growth, increasing deficits, lower median income, failing housing market, inflated costs, etc. seem to in no way hinder the frenzy to boost stocks on Wall Street. Irrational Exuberance, indeed.The Fed and lib intellectuals constantly adjust (fudge) job reports, the method of computing inflation, as well as estimating the Gross Domestic Product. These adjustments are all made to make the administration's record look better than it is. Under such circumstances, who in the world can believe in the Full Faith And Credit of the United States? Not Syria, for one, and certainly not the American public.
How many muppets have fallen for the latest trickery, that Inflation Is Good for the economy? Food prices have risen considerably, and Obama promises future "skyrocketing" energy prices. So, just a few months ago high inflation was public enemy number one, but now, all of a sudden, increased inflation (prices) will be a boon, but to whom? The banks, of course.
I recently told a radio host that the problem that liberals and their supporters have is of a theological nature. Liberals, the poorest of the poor to the richest and most educated libs covet other people's money for a "better use." Christians are taught that covetousness is idolatry, and in Catholic school envy
was a deadly sin. Torah believing Jews would agree. Warren Buffet and President Obama are rich as they can be, yet they lust for other people's property, just as the poorest of the inner city dwellers yearn for OP's money. They both have formed a union and it is called the Democratic Party, which is also comprised of academics, liberal churches, and the media.
Ben Bernanke claimed that he did not "understand how gold operates." How about that for a man which had the reigns on the entire economy through the bankers and investors? He knew nothing about the value of gold, which for thousands of years was a universal underlying asset of fiat money, yet Ben had no trouble in printing money out of thin air, and leaving the debt not only to future American generations, but also to hapless foreign countries, which have been consuming American inflation.
The stock market rallies since the great recession of 2008 have gone unchallenged - to the skies, as "sophisticated" traders, bankers, corporations have caught on to the wild trend, reaping the highest profits for the 1 percent since immediately before the Great Depression crash of 1929. Uncle Sam has forced citizens out of savings accounts, and even bonds, in order to fuel the stock market. As they say, "Taking interest rates from Grandma for Goldman Sachs sake." It has been a tidy profit for those who started reinvesting after losing 40% of their portfolio in 2008 onward, but woe to the slacker who does not jump out of the market before interest rates rise and stocks fall quite dramatically, it is estimated. Quantitative Easing, or the printing of unbacked money, was first opposed by a long time hero of mine, Larry Kudlow, because of the moral hazard of favoring the bankers and stock market over John Q. Public, but he eventually succumbed to the money printing, and finally lost his TV show. PS The Treasuries bought and sold by the Federal Reserve are "backed" by the good Faith and Credit of the United States, ie. not at all.Obama has doubled the National Debt, yet very few have called him on it, or most of his other Law Making By Pen - without the consultation or permission of Congress.The current administration and its allies have done whatever is convenient to force money into the stock market. At this time, I have even heard that bond holders may be demanded to pay "exit" fees just in case they decide to get out of the bond market too quickly - as it starts to tank.
One example of the bad faith of the United States government would be the IRS scandal and all of its slimy, underhanded obfuscations with the American public, including the recent revelations that the hard drive storing Lois Lerner's emails has "crashed," so c'est
la vie - nothing here to see. Since the NSA has had no trouble looking at everything we do on cell phones, computers, Face Book etc., let's hope they can find those emails which were accidentally
How can an American believe in the Full Faith and Credit of .Gov when the administration not only fails to secure the borders, but, quite the opposite, encourages immigrants under 12 years of age to flood over state's borders?
Were Susan Rice's statements about THE VIDEO causing the Benghazi massacre, or her recent announcement that deserter Bergdahl was, "Captured on the battlefield" also be backed by the Good Faith and Credit of the U.S.?
I hope we have not forgotten Fast and Furious,
another operation backed by Full Faith and Credit.
And is the folly known as Obamacare also fully backed by Full Faith and Credit?
President Obama's Environmental Protection and Energy agencies are on a tear to tear up the American economy utilizing Al Gore pseudoscience to tyrannize business and every citizen who needs inexpensive energy. The EPA and its mesmerized disciples certainly cannot be trusted.
I would never have full faith in the government, but it has proven itself to especially flawed in so many administrative matters, domestic and foreign, significantly it its ignorance of the failures in the Department of Veterans Affairs treatment of former members of the U.S. military.
At least, we are learning one thing - that only God deserves Full Faith and Credit, "Period" (as Obama often likes to say).