Tuesday, October 25, 2011

Global Financial Crisis News - Caution: Tyranny Ahead

Here is the hard fact. Austerity in the United States is the only way to restore confidence in the U.S. Economy. Continued increases in government debt will undermine the dollar and confidence in our economy causing a global depression. The reason America is in a better position than Europe is that our dollar is undervalued. We could actually improve our economy through deflation or austerity. Deflation of an undervalued currency may actually restore the market equilibrium value and confidence in the economy. It is no guarantee, but a possibility in stark contrast with Europe.

Austerity in southern Europe will cause a damaging deflationary cycle because their currency is overvalued. To restore the market balance of their currency, these countries face massive dissatisfaction from their populations. Violence and protests would be the outcome and the only alternative is restored confidence through a recovering world economy that generates the wealth to stabilize southern Europe.

I apologize for the financial jargon used thus far. To summarize, America must cut spending immediately or the world will fall into a global depression. Europe is so far gone, that their only hope is for confidence in America's economic might to lead the world to prosperity and save their butts.

Enter Barack Obama, his latest "Jobs" bill and a new "Mortgage Loan Refinancing" program for houses that are up to 25% underwater.  What is the economic effect of these efforts to "restore the housing market" and "create or save jobs?" The net effect is further public debt spending and private capitalization (consumer and bank debt). Both are the exact wrong courses of action. These actions erase confidence and hope in the American economy. By proxy, this will kick the remaining legs out of confidence in the world recovery. President Obama's jawboning of this agenda is eroding confidence and hope throughout the world. 

(Fellow SLOB W.C. Verones has an excellent post with more information on our economic troubles in video format.)

We Americans again are faced with a choice between selfish, greedy comfort and hard, responsible good. It is our duty to stop the coming tragedy that I describe as The New Dark Age.  However, most of us will be complacent. Unwilling to see beyond the handouts and take personal responsibility for our lives. Most Americans cannot accept the fact that we are engaged in a struggle for our way of life and the battleground is in our hearts.

It is our choice to fight in this new kind of conflict. We also must choose sides in this war. A war based upon the mutually assured destruction of the interconnected western world through economic assault. Western culture is on the brink and our president sides with those who are pushing it over the edge. We must choose the difficult path of personal responsibility or humanity faces tyranny ahead.

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