The United States of America may potentially be on the precipice of a Greek-style debt crisis within a few years, and our economy is increasingly looking like it may be at risk of entering another recession – and the Financial Crisis 2.0 could make the Great Recession look tame. Simply put, the Fed and Treasury have bloated their balance sheets to such grotesque levels to fight the deflationary forces sparked in the economy as a result of the housing collapse that there will be no more temporary “smoke-and-mirrors” fiscal and monetary options to circumvent another downturn.
Certainly, the Fed will likely give QE3…QE4…QE5, a shot if the economy becomes completely unglued, but similar to what has occurred in Japan for the last 20 years, it will not work. We have already seen what Mr. Bernanke’s money printing in the form of QE2 has wrought – it has robbed the middle class blind, while benefitting the entrenched corporate, banking, and political elite, along with wealthy Americans. The vast majority of Americans do not have sufficient financial assets such as bond, stock, commodity and hedge fund portfolios to offset the rise in food and energy prices that Bernanke has unleashed on the country due to his policy of Dollar devaluation through money printing.
The entire burden of a falling Dollar as a result of QE2 and the United States’ exploding debt has been placed on the middle and working classes, while the elite have benefited from rising prices for financial assets. It is a scam. Furthermore, it hasn’t provided one iota of benefit for the vast majority of American citizens. The unemployment rate continues to hover at 9.1% and very likely could hit double digits by next year.
…….. Obama’s lies have been egregious and on par with those of President Bush. He lied about closing Guantanamo Bay. He lied about bringing the troops home. He resigned the Patriot Act after saying that he would would not. Furthermore, Obama is targeting American citizens for assassination without due process. This is in addition to the socialist, big government, programs he has passed such as ObamaCare, which was opposed by the majority of the American populace. Domestically, our spending has gotten completely out of control. President Bush got the ball rolling, and President Obama has sped up the process of destroying the country through debt.
…….. Into this void has stepped a man whose reputation for integrity, honesty, and principles is unimpeachable. He has ideas which address nearly every single problem that this country faces. He wants to follow the Constitution, restore civil liberties, end the foreign occupations, downsize government, restore sound money and reform the Entitlement State. If we elected Dr. Ron Paul would all of these things happen overnight? Of course not. Many of his solutions would take years to successfully implement, but the ideas are powerful and very important. Ron Paul represents the idea of a radical reformation of our country – based on the principles enunciated by the founding fathers.