Pat Buchanan: Sub Prime Nation
Submitted by Michael Nystrom on Tue, 01/15/2008 - 08:57
Since it began to give credit ratings to nations in 1917, Moody's has rated the United States triple-A. U.S. Treasury bonds have been seen as the most secure investment on earth. When crises erupt, nervous money seeks out the world's great safe harbor, the United States. That reputation is now in peril.
Last week, Moody's warned that if the United States fails to rein in the soaring cost of Social Security, Medicare and Medicaid, the nation's credit rating will be down-graded within a decade.
Our political parties seem oblivious. Republicans, save Ron Paul, are all promising to expand the U.S. military and maintain all of our worldwide commitments to defend and subsidize scores of nations.
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"What does conservatism today stand for? It stands for war. It stands for power. It stands for spying, jailing without trial, torture, counterfeiting without limit, and lying from morning to night."
Lew Rockwell
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California is Gone into debt oblivion
this year many states now are going in the red.
Arizona's new 08 Budget was 700 million in deficit, but with creative financing the Gov was able to push the debt out more years and BORROW form the future. Deficit expected to be 1.5 billion or about 12% in the red in 09. That is the same picture for many states.
That is also with a forecast of growth.
Clinton and Obama are now out doing themselves who can spend more in the new economic packages, 250 billion here, 210 billion there.
Implosion on the move,
Stock market is Not fooled, down over 200 again. Those are big numbers.
Bankruptcy starts on the intellectual level
Practice then follows the theory espoused.
Since Keynesianism, monetarism, the New Deal philosophy and the warfare/welfare state mentality took over, we have been INTELLECTUALLY BANKRUPT as a nation.
Since that occurred, it has only been a matter of time until we are bankrupt in the world of practice.
I believe we have reached that point.
It is becoming more clear by the day.
Check out my blog for my chronicling of this process:
www.ponderthis.net
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Freedom - Peace - Prosperity
The Goldies lost for a reason
They lost to the Keynesians because they didn't have the right answer as to why the Great Depression happened. They said we should tighten our belts and not go into debt.
Roosevelt at least said he would tax money out of the rich and give to the poor, so even though his economic plan was no better than the Republicans, he still won, because he prevented bread riots.
The only candidate who has a clue
is Ron Paul. He's been talking about this and the entire debacle is unfolding in real time.
The Democrat solution will sink the country permanently, much worse than Republicans. At times like these, straddling the economy with the boondoggle of nationa health care and raising taxes will sink the ship.
The problems lies in the fact that last year 44% of Americans paid ZERO income tax. These are mostly low income and lower middle class people. Citizens making over $200,000 paid something like 86% of all taxes. Hence, the Democrats have built a solid base, maybe 40% of voters, who want more and more free money from the government, pay no taxes and have absolutely nothing to lose and lots to gain by taxing productive citizens to death.
You can expect that people with savings and assets, especially nearing retirement age, are making plans to move their money and themselves out of this country in advance of the coming Democratic socialist agenda.
This will also adversely effect the economy.
The republican solution is less taxes, but they haven't learned to reduce spending either, so we weaken the dollar and borrow more from abroad. Two sides of the same coin, though I believe that lower taxes at least stimulate some investment.
Ron Paul's philosophy is truly the only one that is healthy in the long term, preserves assets for investment and is fair to all individuals.
Unfortunately, Americans can simply not absorb his message. Obama telling them he'll pay for all their needs trumps any rational thought.
Pat did a nice job here though.
My Brain Is Now Dog Fude...
Yokay... I errr... posted this exact information here on the RPD website about 5 days ago when the story broke... and nobody reacted or said a damn thing. Why ? Because it wasn't prepackaged as "Pat Buchanan said..." How is it that NOBODY right, left, center, up or down has any curiosity, interest, or mental ability to analyse a point until it is preframed by an authority figure, "Pat said... Rush said... Savage said.... the MSM said...." ???? Have we become a nation of lobotomized mind slaves ?
http://ml-implode.com/
and the companion website:
http://hf-implode.com/
Well, Duh ????????
Where have you been? Canada?
:)
Recession?
Great article as long as by "recession" he means "depression". But what to call it? Maybe The Even-Greater Depression?
R.I.P. U.S.A.
I never thought that I would agree wholeheartedly with Pat Buchanan, but here I am, an ex-liberal, saying that Pat Buchanan is making a lot of sense in this article.
It's so obvious that the globalists are rigging our ship to One World Government.
R.I.P. U.S.A.
"Those who make peaceful revolution impossible will make violent
revolution inevitable." -John F. Kennedy
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"...a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people." -John F. Kennedy
Two To One Margins
Voters are voting two to one Democrat based on previous primaries and caucases. It's doubtful that any Republican can win against any Democrat. I do believe that Ron Paul is the only Republican who can beat the Democratic Nominee, but evidently most Republicans are not smart enough to vote for the right candidate. We may be seeing the complete elimination of the Republican party in the future.
Great
America's ripe for a third party. It's happened before.
We also have to remember that change doesn't come around instantly. In our world of instant gratification, it may seem like we're on the losing end, but over the course of history change occurred over a period of decades. I think we can accomplish what we want in a few years, given the right tools. But it'll be an uphill battle, that's for damn sure.
deficit bashers never win
Pat always wants to bring in the moral case... in fact if you were smart, you would go into debt when the dollar is strong and pay it back in weak dollars. That is if you can manage to get your wage to keep pace with inflation.
The CIA Will Handle It
< humor >
Not a problem. We will just send in the CIA to overthrow their CEO and get a new CEO. Then they will rate us AAA++.
< /humor >
JOhn
This is an EXCELLENT article people
read it
Excellent article. I wish RP
Excellent article. I wish RP could slow down in the debate and articulate this. Ron understands it. He needs to "dumb it down" for the masses.
Look out below! The tsunami
Look out below! The tsunami is coming. Maybe this is what will help to push RP to the front.
Well, this pretty much sums it up
We have to give credit to Pat Buchanan for telling it like it is.