Europe Officially in Double-Dip Recession

The European Central Bank will decide upon monetary policy today just as Eurozone GDP fell 0.1% in the third quarter. The falling GDP confirms that Europe is in a "Double-Dip" recession and raises fears that the European economy could drag in 2013.

The Guardian reports:

The head of the European Central Bank has warned that time is running out to resolve the crisis in the eurozone as the latest figures showed the 17 nations of the single currency have slid into a double-dip recession. With financial markets convinced that even worse data will emerge over the winter, Mario Draghi urged policy makers to take full advantage of the breathing space won by the ECB when it announced in the summer it would buy unlimited amounts of government bonds from troubled euro zone countries.

A double-dip recession is the description of an economic growth curve that falls into recession (negative or slow growth) and then, after a short period of stronger growth, falls a second time into recession. The European double-dip points to "far worse to come" per Jennifer McKeown of Capital Economics, but that may prompt the European Central Bank (ECB) to cut rates from .75% to .5% in an attempt to stimulate the economy.

Our "fiscal cliff" as devised by Democrats in the U.S. Congress is now President Obama's political goal. He is currently pushing America into another recession by forcing higher taxes on middle class and other Americans. His strategy is to then blame his opponents and eventually claim tax cuts "to save the middle class." This political posturing will cost about 1.5 million American jobs and untold poverty among foreigners who rely upon our economic strength.

China is also facing slower growth in 2013, leaving the world's economy facing weak economies in Asia, America and Europe. Next year's world economy will be a tough one. Maybe those Mayans were talking about the economy.

ObamaCare Doctors on Strike

Here are some headlines from the future of ObamaCare, doctors on strike:

Doctors strike over pensions shakeup – as it happened, June 21, 2012

• Between a third and a quarter of GPs' surgeries affected

• Doctors still turning up to work to deal with emergencies

• Lansley says thousands of patients inconvenienced

• BMA accuses government of misleading public

Canada: Doctors on Strike, TIME magazine retro, Saskatchewan, July 1962

Some strikes no one wins, and a doctors' strike is plainly one of them. Last week, refusing to practice under a socialized medical insurance plan enacted by the Saskatchewan legislature, two-thirds of the province's 900 doctors locked up their offices and went off on vacation. 

The Ontario Doctors’ Strike, 1986

In Ontario and Alberta, animosity against the federal legislation ran high. Doctors in both provinces rejected what they saw as attempts to “dictate how medicine should be practiced”

Doctors, professors on strike against Italy's spending cuts, 28 SEPTEMBER

Strikers included civil servants, university employees and doctors, ruling out all but emergency medical visits. Labor leaders organized demonstrations across the capital.

Germany: Doctors’ Strike about to be prevented, Jan. 19th, 2012

Slovakia's Doctors No, Nov 30th 2011

Earlier this autumn more than 2,000 Slovak doctors began to resign en masse, complaining that they were grossly underpaid

Estonian doctors continue their strike, October 9th, 2012

The Hospitals Association has proposed a 6.6 percent raise for its employees, but that is contingent on whether the Health Insurance Fund agrees to make changes in its prices for service.

Portugal: Operations cancelled as medical staff strike, 11 July 2012

The health ministry has warned that as many as 4,500 operations and 400,000 appointments may be cancelled.

A little closer to President Obama's dream from his father:

Kenyan Doctors Vow to Continue Strike, September 24, 2012

There are many more examples to be found, but this seems sufficient to make the point.

Were you aware of any of these socialized medicine caused doctor strikes? These stories would hurt the Obama campaign, so they conveniently escape the mainstream media. There have been times in American history when the media was biased, but never like this.

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.