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How the Financial Collapse Would Happen in an Obama Second Term
American Thinker ^ | 09/12/2012 | Steve McCann

Posted on 09/12/2012 5:04:41 AM PDT by SeekAndFind

The stakes in the coming election could not be higher. While crystal ball-gazing always is hazardous, the trail America's economy would follow, should President Obama's re-election effort succeed, has already been blazed. Naturally, the media will tell you none of this.

The upcoming election, despite the best efforts of the Obama campaign, the mainstream media, and various polling firms, is going to revolve around two questions: are you better off than you were four ago, and what is the future going to be if Barack Obama is re-elected? The Obama team is attempting to finesse the first question by obfuscating the second. They claim that their policies have begun to work, and, given a second term, life would redeem the promises Obama made in 2008.

A discussion centered on what the future will bring can be confusing and arcane. The Democrats rely on an emotional argument tied into the cult of personality surrounding Barack Obama, essentially stating that because their motives are pure and they have historically been for the "little" guy, they should be trusted when they say that their plans will be best in the long run. The Republicans and conservatives, on the other hand, too often rely on cold, hard facts and figures, which oftentimes succeed only in making them appear impersonal and pedantic, spouting numbers which cause the eye of the average voter to glaze over with confusion.

Further playing into the hands of the Obama cabal is the sense among far too many Americans that the worst could never happen here. This nation has experienced unprecedented prosperity for over 66 years, with only a few minor hiccups along the way. It is extraordinarily difficult to accept that today, America is living on the residue of its past economic achievements and facing a bleak future

(Excerpt) Read more at americanthinker.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: collapse; debt; finance

1 posted on 09/12/2012 5:04:44 AM PDT by SeekAndFind
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To: SeekAndFind
If Romney does the right thing, gut(gut) spending except military, he will be vilified and be a one termer. If not, well...
2 posted on 09/12/2012 5:15:00 AM PDT by deadrock
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To: SeekAndFind

I think that the collapse is going to happen this fall...in the next 5-7 weeks.

I have people I supply parts to in China....they are ordering parts a 8X normal demand...as though they are stockpiling parts in anticipation of non-availability soon.

just a seat of the pants feeling based on normal ebb and flow of things. This is outside normal.


3 posted on 09/12/2012 5:16:30 AM PDT by Ouderkirk (Democrats...the party of Slavery, Segregation, Sodomy, and Sedition)
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To: SeekAndFind

if obama is re-elected, you will see small businesses gradually close down and Americans cut back on spending knowing things are going to get worse. The RNC needs to make a commercial about the certain economic collapse if Obama is re-elected.


4 posted on 09/12/2012 5:27:39 AM PDT by Ryan_Rubio_2016
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To: DEADROCK

RE: If Romney does the right thing, gut(gut) spending except military, he will be vilified and be a one termer

I’ve been thinking about this myself. If you want to do the right thing, you have to cut spending to the level it was pre-financial crisis ( OVER A TRILLION, and we need to do it like, yesterday).

But if someone does it, he has to sacrifice his political career because make no mistake — THERE WILL BE PAIN, LOT’s OF IT.

But if we don’t do it sooner than later, the pain will be irreversible (like Greece).

There are no painless options, and We don’t have much time.

The sooner we face up to reality, the better.


5 posted on 09/12/2012 5:28:43 AM PDT by SeekAndFind (bOTRT)
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To: SeekAndFind

One of those realities is that the collapse is going to happen anyway. Continuing to prop it up is only going to make things worse.


6 posted on 09/12/2012 5:35:44 AM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: SeekAndFind

I’m more fatalistic with each passing day. Let’s say Romney wins, and actually intends to attack these problems with a chainsaw. Congress holds the credit card. I’m not convinced that POTUS can have enough impact without their cooperation. I hate this sense of pessimism, but I think we are set for the big fall. Nobody in power wants to deal with reality.


7 posted on 09/12/2012 5:38:59 AM PDT by catbertz
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To: cripplecreek; SeekAndFind

My question is: How do we get Obama out of the WH after he loses in November? He could do a lot of damage between the election and the inauguration of his successor.


8 posted on 09/12/2012 5:50:13 AM PDT by afraidfortherepublic (Joe Biden is reported to be seeking asylum in a foreign country so he does not have to debate Ryan.)
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To: catbertz
Romney has already signaled pretty strongly that he desires to keep things as they are by keeping the "best parts" of Obamacare and making just enough changes in it to make it look like Massachusetts Romneycare. If he cannot see that he went the wrong direction in Mass then he cannot see what the right direction is and he only talks of "spending reductions" (which, at the same time he indicates he will not implement-see Romneycare) because lots of voters seem to think that to be proper. We are at a real Reagan moment right now with no Reagan.

The economy is collapsing as it was under Carter. World Totalitarian Islam is making territorial gains worldwide while he USA retreats as was the case with the Communists during Carter's administration. There have been 2 embassies trashed in Moslem countries and an ambassador murdered-analagous to the Iran Hostage situation. And we allowed the irredeemable trashing of the two figures who might have shown Reagan's abilities, insight, and determination, Palin and Gingrich.

9 posted on 09/12/2012 5:56:33 AM PDT by arthurus (Read Hazlitt's Economics In One Lesson)
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To: SeekAndFind; DEADROCK
If Romney does the right thing, gut(gut) spending except military, he will be vilified and be a one termer

As happened with Reagan?

10 posted on 09/12/2012 5:59:25 AM PDT by arthurus (Read Hazlitt's Economics In One Lesson)
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To: catbertz

Someone the other day described what’s happening perfectly; they said it’s like being in a car wreck you are driving along you see a car coming at you he’s not stopping for the red light there’s no place for you to go you know for sure he is going to hit you and then everything slows down like a scene from some action movie the car coming seems to be crawling you can even see the surprise on the other drivers face. When he hits you the flying glass seems to hang in the air for a second and all the time there ain’t a damn thing you can do, but pray you survive.

Personally I we will see something much like the collapse of Argentina ( http://www.youtube.com/watch?v=7yerKMQc7-w&feature=grec_index )but on a global scale.

As far as the election either way it goes I believe we will soon see social unrest, the closer the election gets the more things will become like walking a mine field and a miss step and things can and will exploded.

Despite the CDC’s tongue and cheek presentation for National Preparedness Month, there really are Zombies, just not the kind from George A. Romero films. They have been fed from the Government’s stash and walked among us for years now and many have been caught on film, but it was in a movie it was for real:

http://www.youtube.com/watch?v=2JtPLyYpyyA

http://www.youtube.com/watch?v=D4F8ob9nlfY

http://www.youtube.com/watch?v=o2Ykj92c9v8

http://www.youtube.com/watch?v=fnpqBb_7PJ4

These and many more like events show (Flash Mobs, OWS, etc) that we have a large entitlement minded population that is violent prone. I think that during a collapse you will see many small businesses wiped out by flash mob looting, and once started it will quickly spread to rape, robbery and murder for murder sake. You will see what I call ‘pocket pogroms’ and if you ain’t ‘Amish’ you better not be around when they come.

I am very much in agreement of the author of this article about what we can look forward to:

When The Music Stops – How America’s Cities May Explode In Violence

http://www.freerepublic.com/focus/f-news/2926391/posts

Many of these ‘zombies’ will think no more about killing you to get ‘stuff’ than zombies in the lastest horror flick and do it just as gruesomely as any of the worse scenes in those same movies.

Many of you who have read my post know I often refer to this quote from Star Trek Deep Space Nine: “Star Trek: Deep Space Nine: The Siege of AR-558 (#7.8)” (1998)

Quark: “Let me tell you something about Hew-mons, Nephew. They’re a wonderful, friendly people, as long as their bellies are full and their holosuites are working. But take away their creature comforts, deprive them of food, sleep, sonic showers, put their lives in jeopardy over an extended period of time and those same friendly, intelligent, wonderful people... will become as nasty and as violent as the most bloodthirsty Klingon. You don’t believe me? Look at those faces. Look in their eyes.”

It has repeated been shown throughout history that this is what happens to people once placed under such stressful conditions and yet you would be surprised how many people don’t realize the transformations that can take place under such conditions. And because of their ignorance many won’t even live long learn.

If you want to learn what happens I suggest you read some of Selco’s firsthand experiences in Bosnia:

A Survival Q & A: Living Through SHTF In The Middle Of A War Zone

http://www.freerepublic.com/focus/f-news/2798007/posts

Clearly there’s a storm coming, as great as a hurricane and like you do when a hurricane comes your way you either prepare to weather it or you become a victim of it.

For those who are just starting or are old hands at prepping you may find my Preparedness Manual helpfull. You can download it at:

http://tomeaker.com/kart/Preparedness1j.pdf

NOTE! THIS IS A FREE DOWNLOAD. I DO NOT MAKE ONE CENT OFF MY PREPAREDNESS MANUAL!

For those of you who haven’t started already it’s time to prepare almost past time maybe. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
As the LDS say “When the emergency is upon us the time for preparedness has past.”

Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3

“There is no greater disaster than to underestimate danger.
Underestimation can be fatal.”


11 posted on 09/12/2012 6:01:21 AM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: afraidfortherepublic
My question is: How do we get Obama out of the WH after he loses in November? He could do a lot of damage between the election and the inauguration of his successor.

I'm afraid we still have to wait till January but we do hold the house.
12 posted on 09/12/2012 6:02:11 AM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: SeekAndFind

——are pure and they have historically been for the “little” guy, they should be trusted ——

The fallacy is that the little guy doesn’t know his ass from a hole in the ground. If he could tell the difference, he wouldn’t be little.


13 posted on 09/12/2012 6:04:10 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: afraidfortherepublic

obama WILL do a lot of damage between the election and innagruation. Bet on it.


14 posted on 09/12/2012 6:09:04 AM PDT by Texas resident (The demoncrat party will destroy us all.)
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To: arthurus

Reagan never “gutted” spending, though he had a deal with Tip O’Neil to decrease spending in exchange for some tax increases (O’Neil lied).

Here’s a link to the historical record of Federal Government expenditures:

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls


15 posted on 09/12/2012 6:09:23 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: DEADROCK
While I deplore the spending, the initial solution to our debt is not gutting spending, but rather promoting jobs by cutting regulations & regulators. An immediate, radical cut in Fed spending could easily deepen our economic problems. Certainly there is much waste & fraud that can be immediately cut, but you can't cut grandma's SS check or medical care without doing serious harm, & this is where most of the Fed money is spent.

Put those coal workers back to work, build the pipeline, & unleash the energy sector in general. Lower energy costs benefit the entire country. Repeal Obamacare & make the Bush tax cuts permanent. Both give business the confidence to start new businesses & hire workers. Gut the EPA of the CO2 crowd. Forget climate change. End ethanol subsidies to lower food prices.

More jobs - lots more - mean lower entitlement costs & more taxes flowing into the treasury. People with jobs spend money on houses, cars, vacations, etc., further increasing tax receipts & growing our economy.

We will never control the deficit & debt solely by cutting spending. We must grow our way out of the deficit, making the debt ultimately minuscule compared to GDP. A bigger pie is the solution, not smaller slices.

16 posted on 09/12/2012 6:15:06 AM PDT by Mister Da (The mark of a wise man is not what he knows, but what he knows he doesn't know!)
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To: cripplecreek

You’re right in that the crash is inevitable, and probably imminent.

It’s not that I think that Romney will be able to delay it,
it’s that I’d rather have a nominal Christian capitalist in power than a Marxist America-hating Muslim in power when it does.


17 posted on 09/12/2012 6:18:45 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working fors)
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To: arthurus

Reagan just cut spending. We are beyond just a snip here and there. Departments need to be gutted.


18 posted on 09/12/2012 6:34:26 AM PDT by deadrock
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To: Ouderkirk

Where is their market?

If there is a collapse, how does even China sell anything unless these are for a domestic market they believe will survive and is essential, such as their military.?

What type of machines do they make (just the sector would be helpful, to avoid identifying your business)?

I have a friend who works for a prominent US company w/manufacturing in China, Saudi and the US. He travels constantly and says things are really ok for the company, the industry and in the countries to which he travels. They make essential gauges and other parts for oil extractors. He’d like to retire, but the money is still so good, he is hanging in there.


19 posted on 09/12/2012 6:43:39 AM PDT by reformedliberal
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To: arthurus

RE: As happened with Reagan?

I don’t think Reagan cut spending at all.

When Ronald Reagan delivered his farewell address more than two decades ago, he cited one regret: a continuing deficit he had put the nation on track to eliminate.

“I’ve been asked if I have any regrets. Well, I do,” said Reagan. “The deficit is one. I’ve been talking a great deal about that lately, but tonight isn’t for arguments, and I’m going to hold my tongue.”


20 posted on 09/12/2012 7:12:56 AM PDT by SeekAndFind (bOTRT)
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To: DuncanWaring

RE: Reagan never “gutted” spending, though he had a deal with Tip O’Neil to decrease spending in exchange for some tax increases (O’Neil lied).

Papa Bush did the same thing when he broke his “Read my lips” pledge. Result: Tax increase, no decreases in spending. See a pattern here?


21 posted on 09/12/2012 7:15:28 AM PDT by SeekAndFind (bOTRT)
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To: DuncanWaring

He could not “gut” spending but he did reduce government costs on business sufficient to ignite a 25 year boom. I don’t think the next administration/Congress can kick off a boom without sharply curtailing entitlements, not just cut the rate of increase, not just decrease payments, but eliminate them. Sharply decreasing regulatory costs o business this time around is probably sufficient to make the USA more competitive with Europe but no yet with China because the tremendous entitlement -”safety net” costs are also onerous costs on business in the USA because they remove resources from capital investment.


22 posted on 09/12/2012 8:44:24 AM PDT by arthurus (Read Hazlitt's Economics In One Lesson)
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To: SeekAndFind

BTTT!


23 posted on 09/12/2012 4:19:12 PM PDT by Pagey (B. Hussein Obama is weak, and is a worse human being than F.D.R., on multiple levels.)
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To: reformedliberal

The orders placed against my plant are for domestic china consumption as service parts for an existing installed base. It is not being resold.

They are placing orders for service parts that are for use in China and they are planning for a shortage of availability of parts. These orders are for two years of demand with the orders to be filled ASAP, leaving the US with zero balance to service the installed base here and a 12 week lead on many of these items which are US sourced.

Why would you take on two years demand for service parts if you were not expecting a shortage of supply?


24 posted on 09/12/2012 4:57:35 PM PDT by Ouderkirk (Democrats...the party of Slavery, Segregation, Sodomy, and Sedition)
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To: Ouderkirk

Sounds like they might be stockpiling in case of war.

Maybe they will hit Taiwan before Obama leaves office?

What would he say in his apology statement?


25 posted on 09/12/2012 5:36:14 PM PDT by darth
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To: Ouderkirk
Why would you take on two years demand for service parts if you were not expecting a shortage of supply?
 
Maybe you already answered your question:
"leaving the US with zero balance to service the installed base here"

26 posted on 09/12/2012 6:09:18 PM PDT by wm25burke
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To: SeekAndFind
Both Reagan and Bush 41 labored under the same handicap: neither one ever had a Republican House to originate and pass his budget. Reagan had to rely on his connection with the common man. Bush 41 didn't have a prayer.

Romney will have a republican House and probably Senate as well--he will have absolutely no excuse not to submit a responsible budget and expect it to be passed.

27 posted on 09/12/2012 8:16:22 PM PDT by hinckley buzzard
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