Obama Orchestrates The Collapse of The U.S.?

From disinter

russiatoday.com reports:

Professor Igor Panarin, whose book “The Crash of America” is just out, claims that by November the book will be yesterday’s news.

Panarin believes President Obama will lead his country to a breakup. Panarin compares Obama to former Soviet president Mikhail Gorbachev.

Panarin is quoted as saying:

Today I received another confirmation that the collapse of the dollar and the US is inevitable. Japan’s Democratic Party won the election, and I’d like to remind you that its leader [Yukio Hatoyama] has the snubbing of the dollar among his economic plans. In plainer words, he plans to transfer Japan’s monetary reserves from US dollars into another currency. The move will seriously accelerate the dollar’s exchange slump as early as this November. Disintegration will follow shortly,

On Obama:

He’s a nice person and talks nicely – but he’s not a leader and will take America to a crash. When Americans understand that – it will be like a bomb explosion,”

Panarin said, speaking to journalists during the unveiling of his book.

He goes on to suggest that the U.S. will cease to exist by June 2010.

• There is legislation pending to give Obama the power to shut down the internet. Why?

• Concentration camps are being built and staffed. Why?

• The police state is growing larger, becoming more federalized and becoming much more violent. Why?

• U.S. embassies worldwide are being advised to purchase massive amounts of local currencies; enough to last them a year. Why?

Connect the dots.

US $20 trillion in debt by 2019…. (Just A Reminder)

Obama revises budget estimates.

As you read here last week, Barack Obama’s estimate of the budget deficit was off by a mere $2 trillion. According to the Obama administration, the U.S. deficit will skyrocket to $9 trillion over the next 10 years — $2 trillion more than it forecasted earlier this year.

Add that to the existing $11 trillion budget deficit and you get a $20 trillion national debt by 2019.

Obama’s $9 Trillion Deficit!

The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.

The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama’s opponents, who say his spending plans are too expensive in light of budget shortfalls.

The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion.

“The new forecasts are based on new data that reflect how severe the economic downturn was in the late fall of last year and the winter of this year,” said the administration official, who is familiar with the budget mid-session review that is slated to be released next week.

“Our budget projections are now in line with the spring and summer projections that the Congressional Budget Office put out.”

The White House budget office will also lower its deficit forecast for this fiscal year, which ends September 30, to $1.58 trillion from $1.84 trillion next week after removing $250 billion set aside for bank bailouts.

Take Note – The 2008 deficit was about $455 billion — $293 billion more than the deficit incurred in 2007. That’s ‘billion’ with a ‘B’. Obama’s deficit will skyrocket to $1.58 trillion…  That’s ‘TRILLION’ with a ‘T’!

Record-breaking deficits have raised concerns about America’s ability to finance its debt and whether the United States can maintain its top-tier AAA credit rating.

Politically, the deficit has been an albatross for Obama, a Democrat who is pushing forward with plans to overhaul the U.S. healthcare industry — an initiative that could cost up to $1 trillion over 10 years — and other promises, including reforming education and how the country handles energy.

DEFICIT WORRIES CONTINUE…

Privatization key to saving socialism???

Cuba’s leaders see private farmers as key to saving socialism.

WHAT???

Cuba’s leaders are counting on Alberto Romero’s eight cows to help turn around the island’s struggling socialist economy. Private farmers like Romero, who belongs to a 219-member cooperative near the eastern city of Holguin, were overshadowed for years by Cuba’s emphasis on large state farms. But the government recently began handing out idle state land to private farmers across the island in an effort to boost food production. “The government has put its faith in us, and we will show what we are capable of,” said Romero, whose 20-acre plot has been in his family for 103 years.

Cuba is hoping that private farmers can literally plow the island out of a huge $11 billion trade deficit this year caused by rising food import costs and falling exports. The policy marks a major shift away from inefficient state farms that once occupied the lion’s share of the island’s agricultural land.

Perhaps the Obama administration should be taking notes…

Full Story

A Grim Picture of Our Economic Future, study shows

Even as the economy shows signs of modest improvement, a new report projects that the job market could take years to recover from the beating it’s taken during the recession.

An assessment by an economist and a researcher at the Federal Reserve Bank in Kansas City paints a grim picture of the country’s economic future.

Instead of surging back, the authors predict the job market will merely limp along for years to come.

According to their forecast, the unemployment rate will be at 10 percent through 2011. Three years after that, the jobless rate will have dropped only to 8 percent. And a decade from now, that rate will still be floating above 6 percent.

http://www.foxnews.com/politics/2009/08/17/job-market-lag-years-study-forecasts/

Union Pensions Getting BIG Payoff From Obamacare

It isn’t just out of the goodness of their hearts that Big Labor is gearing up to spend millions to help President Obama to jam Obamacare down the throats of the American people. The unions stand to get a big payoff of $10 billion to supplement their failing pension plans.

http://www.americanconservativedaily.com/2009/08/union-pensions-getting-big-payoff-from-obamacare/

Stocks Tumble Around the World

Aug. 17 (Bloomberg) — Stocks tumbled around the world, led by China, while the yen, dollar and Treasuries rose as investors speculated that a rally in riskier assets has outpaced prospects for economic growth. Energy and commodity prices also slid.

The MSCI World Index of 23 developed nations sank 2.8 percent at 4:12 p.m. in New York, the biggest retreat since April. The Standard & Poor’s 500 Index lost 2.4 percent to 979.3 after China’s Shanghai Composite Index slumped 5.8 percent, the most since November. The yen strengthened against all 16 of the most-traded currencies tracked by Bloomberg, while the dollar advanced against every one except the yen. The yield on the benchmark 10-year Treasury note dropped to its lowest level in almost a month.

“The stock-market reaction overseas has woken people up to the fact that it’s not going to be a straight line up,” said Myles Zyblock, chief institutional strategist at RBC Capital Markets in Toronto. “People are starting to question the strength of the recovery.”

http://www.bloomberg.com/apps/news?pid=20601087&sid=aNHdNnf9dDHY

‘Incompetent’ Leaders Responsible for Financial Crisis

Incompetent policymakers are to blame for a financial crisis that will continue until substantial changes are made, author Nassim Taleb, known as the “Black Swan,” told CNBC.

Taleb, principal at Universa Investments and coiner of the “Black Swan” term to explain drastic, unpredictable events, said in a live interview that choking debt, continued high unemployment and a system that rewards bad behavior will hamstring an economic recovery.

“It is a matter of risk and responsibility, and I think the risks that were there before, these problems are still there,” he said. “We still have a very high level of debt, we still have leadership that’s literally incompetent …”

“They did not see the problem, the don’t look at the core of problem. There’s an elephant in the room and they did not identify it.”

“Bernanke belongs to a school of economics that is not in synch with the complex system,” he said. “By having Bernanke there you’re rewarding failure.”

“It’s not pessimism. I’m warning against a lack of understanding of the disease,” Taleb said. “Now sometimes you see patients doing very well and they have cancer. Long-term, I’m not comfortable treating a patient for his headaches when he has lung cancer.”

http://www.cnbc.com/id/32385199

Another Five Bank Failures… Seven so far in august.

On Friday the FDIC announced another five bank failures. The largest of these being Colonial Bank with 346 branches (6th largest failure in US history). That brings the total number of main and branch banks that have been closed or reorganized since IndyMac of Pasadena, CA went down a little more than a year ago to a whopping 3,433.

http://www.fdic.gov/bank/individual/failed/banklist.html

Big Pharma and Big Insurance want Obama-style health-care reform

“What disturbs Americans of all ideological persuasions is the fear that almost everything, not just government, is fixed or manipulated by some powerful hidden hand,” Frank Rich wrote in Sunday’s New York Times.

That manipulation should disturb us. But contrary to Rich, it is not the work of “corporatists” who have sprung up to attack progressive reforms proposed by Obama and the Democratic majority. Manipulation is what we got many years ago when we traded a more or less free market for the “progressive” interventionist state. When government is big, the well-connected always have an advantage over the rest of us in influencing public policy.

Observe: Although President Obama and big-government activists demonize health-insurance companies, the companies “are still mostly on board with the president’s effort to overhaul the U.S. health-care system,” the Wall Street Journal reports; and …

Although the activists criticize Big Pharma, “The drug industry has already contributed millions of dollars to advertising campaigns for the health care overhaul through the advocacy groups like Healthy Economies Now and Families USA. It has spent about $1 million on similar advertisements under its own name,” the Times reports.

http://townhall.com/columnists/JohnStossel/2009/08/12/big_business_goes_big_for_health_care_reform