Ready or not, QE3 is here, and the long-term effects of this reckless money printing by the Federal Reserve are going to be absolutely nightmarish. The Federal Reserve is hoping that buying $40 billion worth of mortgage-backed securities per month will spur more lending and more economic activity. But that didn’t happen with either QE1 or QE2. Both times the banks just sat on most of the extra money. As I pointed out the other day, U.S. banks are already sitting on $1.6 trillion in excess reserves. So will pumping them up with more cash suddenly make them decide to start lending? Of course not. In addition, QE3 is not likely to produce many additional jobs. As I showed in a previous article, the employment level did not jump up as a result of either QE1 or QE2. So why will this time be different? But what did happen under both QE1 and QE2 is that a lot of the money ended up pumping up the financial markets. So once again we should see stock prices go up (at least in the short-term) and commodities such as gold, silver, food and oil should also rise. But that also means that average American families will be paying more for the basic necessities that they buy on a regular basis. The most dangerous aspect of QE3, however, is what it is going to do to the U.S. dollar. Most of the rest of the world uses the U.S. dollar to conduct international trade, and by choosing to recklessly print money Ben Bernanke is severely damaging international confidence in our currency. If at some point the rest of the world rejects the dollar and no longer wants to use it as a reserve currency we are going to be facing a crisis unlike anything we have ever seen before. The real debate about QE3 should not be about whether or not it will help the economy a little bit in the short-term. Rather, everyone should be talking about the long-term implications and about how QE3 is going to accelerate the destruction of the dollar. (Read More...)
Thanks Obama – The Terrorists You Used To Topple Regimes In Egypt And Libya Are Now Attacking Our Embassies
Many of us tried to warn Barack Obama that using militants from al-Qaeda and other terrorist organizations to overthrow governments in the Middle East would not end well. The Obama administration has been so determined to get rid of some of these dictators in the Middle East that they have not even really stopped to think about who would be replacing them. Our leaders assured us that those opposed to Mubarak and Gaddafi were “freedom fighters” that just wanted “liberty” and “democracy” in those countries. Well, of course it turns out that the folks that took control of both Egypt and Libya bear no resemblance to George Washington whatsoever. They have simply replaced one form of tyranny with an even worse form of tyranny. Sadly, the last couple of days have been a huge wake up call for all of us. Radical Islamic militants stormed the U.S. embassy in Cairo, Egypt and replaced the American flag with the al-Qaeda flag. In Benghazi, Libya the U.S. consulate was attacked by a crowd equipped with guns, homemade bombs and rocket-propelled grenades. They torched the consulate, looted it, and killed the U.S. ambassador and three other U.S. officials. Apparently they are not as grateful for our help in “liberating” their homelands as the Obama administration thought they would be. Unfortunately, our politicians fundamentally misunderstand what is going on in the Middle East, and this is going to continue to lead to more policy errors. (Read More...)
Did Obama Just Make A Deal With Israel To Delay The War With Iran Until After The Election?
Barack Obama cares about Barack Obama far more than he does about either Israel or Iran. And as far as Barack Obama is concerned, delaying the coming war between Israel and Iran until after the election is what is best for Barack Obama. Just think about it. If Israel attacked Iran right now, who would that please? It would mostly please hardcore Republicans, and they are not going to vote for Obama anyway. To independents and liberals, Obama would look like a guy that couldn’t stop war from happening in the Middle East. If the U.S. showed support for the Israeli attack, that would greatly discourage his anti-war supporters from going to the polls. If the U.S. did not show support for the Israeli attack, Obama would potentially lose many of the Jewish voters that he desperately needs in swing states such as Florida. A war between Israel and Iran is a no-win situation for Obama right now, and as I wrote about yesterday, the Obama administration has been trying to discourage Israel from attacking Iran for weeks. Well, now it is being reported in major international news sources that a deal has been reached between Obama and Israel. Obama is going to publicly declare what the “red lines” are that will cause the U.S. to strike Iran’s nuclear program, and the U.S. military is going to send some of their most advanced bunker busting bombs to Israel. Those bombs will come in very handy in getting at the Iranian nuclear facilities that are hidden underground. In return, Israel has apparently agreed to delay the attack on Iran until after the election. So would Barack Obama really play politics with war in the Middle East? Of course he would. Barack Obama is obsessed with winning a second term and he would make a deal with just about anyone if it will get him closer to his goal. (Read More...)
19 Signs That Israel And Iran Are On The Verge Of War
There is going to be war in the Middle East. It is just a matter of time until it happens. Israel has decided that there is no way that it can ever allow Iran to develop the capability to build nuclear weapons. Iran has gone “all-in” on developing a nuclear program and it has become a matter of national pride at this point. Iran does not fear an Israeli attack against its nuclear program. In fact, Iran anticipates that an Israeli attack would cause the Islamic nations of the Middle East to come together and declare war against Israel. Sadly, there is a very strong chance that an Israeli attack on Iran would actually spark a larger regional war. But there is no way that Israel is going to allow Iran to develop the capability to build nuclear weapons, and time for a strike may be running out. It has become quite clear that the Obama administration does not want to strike Iran. So if Israel wants to do something about Iran, Israel is going to have to be the one to do it. But if Obama wins the U.S. election in November, he might work to actively block Israel from attacking Iran for his entire second term, and the Israelis believe that by 2016 it will be way too late to do anything about Iran’s nuclear program. If Israel attacks before the election, Obama would be in danger of appearing to be “anti-Israel” if he came out against the attack. And considering the fact that Jewish voters are a key voting block in swing states such as Florida that is not something he would want to do. But after the election Obama would not have to worry about what Jewish voters think. After the election Obama could move to block an attack on Iran indefinitely. (Read More...)
Why Does The U.S. Government Treat Military Veterans Like Human Garbage?
The way that the U.S. government treats military veterans is absolutely disgraceful. Men and women that have given everything for this nation are literally being treated like human garbage by their own government. After watching how vets are treated, it is absolutely amazing that anyone is still volunteering to be a part of the military. We pay those in the military like crap, we keep sending our best soldiers back to Afghanistan and Iraq again and again, we don’t equip them properly, military suicides are at a record pace, hundreds of thousands of applications for veteran benefits are hopelessly backlogged, homelessness and unemployment among vets is much higher than for the general population, the condition of most VA hospitals is an absolute disgrace, and to top everything off now the Obama administration has started labeling military veterans as “potential terrorists”. What you are about to read should make you very angry. The abuse, neglect and outright disrespect that military vets receive from their own government is absolutely shocking. We owe these men and women a great debt for the service that they have performed for our nation, but instead the federal government kicks them to the curb and treats them with no honor whatsoever. The way a nation treats military vets says a lot about the character of that nation, and right now the way that America treats veterans says that we have the character of a steaming pile of manure. (Read More...)
Thanks Obama – Here Are 24 Stats That Show How Much You Have Royally Messed Up Our Economy
Under Barack Obama, the U.S. economy has performed worse than it did under any other president since the end of the Great Depression. After every other recession since World War II, the U.S. economy always regained what was lost and got even stronger before the next recession began. During this “economic recovery”, we have not even come close to getting back to where we were in 2008. In fact, the number of Americans living in poverty and the number of Americans that are dependent on the government both continue to explode even as Barack Obama runs up trillions of dollars of new debt. Anyone that believes that Barack Obama is going to “fix the economy” if he is given another four years in the White House has taken way too many sips of the Obama kool-aid. The truth is that Barack Obama is not going to save you. Barack Obama has royally messed up our economy (along with a lot of other things) and that is not something we should be thanking him for. (Read More...)
40 Points That Prove That Barack Obama And Mitt Romney Are Essentially The Same Candidate
What a depressing choice the American people are being presented with this year. We are at a point in our history where we desperately need a change of direction in the White House, and we are guaranteed that we are not going to get it. The Democrats are running the worst president in American history, and the Republicans are running a guy who is almost a carbon copy of him. The fact that about half the country is still supporting Barack Obama shows how incredibly stupid and corrupt the American people have become. No American should have ever cast a single vote for Barack Obama for any political office under any circumstances. He should never have even been the assistant superintendent in charge of janitorial supplies, much less the president of the United States. The truth is that Barack Obama has done such a horrible job that he should immediately resign along with his entire cabinet. But instead of giving us a clear choice, the Republicans nominated the Republican that was running that was most similar to Barack Obama. In fact, I don’t think we have ever had two candidates for president that are so similar. Yes, there are a few minor differences between them, but the truth is that we are heading into Obama’s second term no matter which one of them gets elected. The mainstream media makes it sound like Obama and Romney are bitter ideological rivals but that is a giant lie. Yeah, they are slinging lots of mud at each other, but they both play for the same team and the losers are going to be the American people. (Read More...)
U.S. Super Soldiers Of The Future Will Be Genetically Modified Transhumans Capable Of Superhuman Feats
The future of war is going to look really, really weird. The “super soldier” research that DARPA (the Defense Advanced Research Projects Agency) is working on right now is unlike anything we have ever seen before. If DARPA is successful, and if the American people don’t object, the soldiers of the future will be genetically modified transhumans capable of superhuman feats. Do you want a soldier that can run faster than Usain Bolt? DARPA is working on that. Do you want a soldier that won’t need food or sleep for days? DARPA is working on that? Do you want a soldier that can regrow lost limbs? DARPA is working on that. Do you want a soldier that can outlift Olympic weightlifters and that can communicate telepathically? DARPA is working on that. Americans flock to movies about superheroes and mutants, and soon they may actually have real life “superheroes” and “mutants” fighting their wars for them. But at what cost? (Read More...)