George Soros Says The US Should Take On More Debt And Not Be Obsessed With Budget Cuts

Yes the US dollar value is decreasing every day and that is evident in how much the dollar will buy in todays' market. One of the most notable examples are the prices we pay at the grocery store.

In this article from the Wall Street Journal - http://blogs.wsj.com/economics/2011/02/02/some-43-million-americans-use-food-stamps/ it says "Nearly a year and a half into the economic recovery, some 43.6 million Americans continued to rely on food stamps in November. More than 14% of the population drew food stamps in November to purchase groceries as high unemployment and muted wage growth crimped budgets." And we well know who is paying for these food stamps - the taxpayers.

As I watched this video I again got a sense of foreboding just as I did from the first time I saw Obama. To me George Soros is evil personfied and to think this is the type person Obama associates with and is mentored by. Even though all the information on who Obama was associated with, was widely accessible, still people refused to censor him and voted for him in large numbers. The Pied Piper is certainly leading us down the path of no return. The 2012 election can't get here fast enough for me and as I know, also for a lot of others.

Evelyn

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Hello Friends,

Below you'll find an interview with George Soros in which he claims that the United States should increase it's debt and not be obsessed with budget cuts. Interesting to say the least when you consider that B Hussein is fighting to increase the US's debt so you gotta wonder who's mentoring the president? We know that Soros has a great influence on B Hussein and was a major supporter of his campaign after Soros dropped Hillary.

Soros' created many radical progressive/Marxist organizations and supports many others as well including extreme Muslim organizations. The America he wants to see emerge is not one founded on the Constitution and would eventually enslave the American people and deny them the rights that are theirs by virtue of the Bill of Rights and the Constitution.

Interesting that he claims the US $ is risk free and strong. Nothing can be further from the truth. The value of the US $ is dropping daily world wide and now that S&P (Standard and Poor's) warned that it might lower it's debt rating of US Government it's gonna get worse. This has already affected world markets including the NY Stock Exchange. They in fact warned "fix deficit or risk credit rating". Read more about it here and here.

So, who are you going to believe Soros or the world markets and now S & P?

Here's the video of the interview with some points raised. My short comments will be in red.

Shalom,

Peter

George Soros Says The US Should Take On More Debt And Not Be Obsessed With Budget Cuts

Gregory White | Apr. 9, 2011, 9:22 AM

Famed investor George Soros spoke to Bloomberg Television about the U.S. economy yesterday, specifically the debate over cuts versus government spending. Soros argues that the U.S. should take on more debt and spend it on infrastructure.

• 0:20 It is a really open question; How much debt is too much and when should you tighten? We're in the midst of a difficult, delicate, two-speed maneuver.
• 1:15 If you have a growing economy, you can tolerate a high level of debt. If you have an economy in recession, and too much debt, you get into what's called a debt trap. (that's what the US is in now a debt trap and the economy isn't growing)
• 1:50 This argument is overshadowed by political considerations. In Europe, you have debate of eurozone members and their debt.
• 2:25 We can issue our own currency in the U.S., and the dollar is quite strong. (the US $ is falling world wide. It's value is decreasing every day and printing more money will and is making matters mush worse. why doesn't he say where the $ is strong aside from his sick imaginatin?)
• 3:20 There is a danger than, by pushing budget cuts too far, you can endanger it. I fear political forces are going to force the economy back into recession. (hey Soros the country is in recession, budget cuts will bring sanity back to the equation rather then spend what you don't have)
• 3:50 The U.S. economy could absorb some more debt to get the economy going. If you use it to reinforce consumption, you get no benefit from it. Building infrastructure or improving productivity is where it should be used. (that was never B Husseinn's objective. no infrastructures being built just destoyrd)
• 5:30 The U.S. dollar is considered to be riskless, but it's a question as to the degree of future inflation. One way to decrease the future weight of debt is to have inflation. (people are running away from investing in the US $. Who pray tell considers it to be riskless?)

http://www.youtube.com/watch?v=KgRYXuJgJUQ&feature

Government Cash Handouts Now Top Tax Revenues

In this video commentary, Dick Morris explains his take on the International Monetary Fund (IMF) and our economic system.

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Hello Friends,

Ever since the mid term elections when the Democrats were soundly beaten in the Congressional elections and their majority whittled down in the Senate we've been witness to whining and crying by all the dependent progressive socialists here and else where. Cries of don't touch my Social Security, don't touch my Medicare etc and I wonder where these criers were for the past 2 years when Social Security payments weren't raised. When Medicare was slowly going bankrupt. Now the Social Security issue is quite understandable since the monies are being siphoned off by government to pay for "other" things and yet the criers remained silent. Where were they when their elected empty suit B Hussein quadrupled the deficit in 2 short years and raised the unemployment from 8.8% at the end of the Bush presidency and now close to 10% and probably higher under B Hussein? Why didn't they ask where are the jobs???

For the first time since 1937 that the Federal Government is paying out more then it's bringing in. The dependency of the citizenry is almost total on government and their "wealth" increase is dependent on payouts of different sorts. Why should they work when they get more from the Federal Government then from the fruits of their labors. This is a dependent group that will continue whining cos the entrepreneurs who actually create jobs and benefit the welfare of their workforce make profits. What a disgusting word profit. Well why not? Why shouldn't they profit from their investment in business and creating jobs through their investments? Governments "job" isn't to create jobs even though the only jobs created by the B Hussein regime are government employees. By over taxing the business community they will not invest their monies and rightfully so. In the end those still interested in working will not find jobs cos they won't be there.

So don't bother reading Paul Ryan's economic plan and catch phrases only and cry about them. For that matter they didn't read Obamacare either else they wouldn't be supporting it. But who expected them to read and comprehend how they'd be losing their liberties if this disaster of a plan s ever implemented. It's in their best interest it be repealed but how can it be so when the great pretender and empty suit B Hussein says otherwise?

And now that S & P is on the verge of downgrading the US Governments credit rating things will only get worse. But will the whiners and criers understand the ramifications if that ever happens? NAH, they'll keep on whining and crying don't touch my Social Security and Medical Care but to their dismay they'll find that they're both bankrupt after Big Government drained all the cash from them.

Here's a great article about just this issue I found over at Atlas Shrugs. Be sure to click on all the links in the article.

Shalom,

Peter

Government Cash Handouts Now Top Tax Revenues

Well, there you have it. And Geithner wants to increase the debt ceiling by close to another two trillion. Politics, shmolitics ......it is unsustainable. Period. Atlas reader van opined:

They throw these numbers around like it was pocket change. He and Bernanke are simply criminal in their managing of the economy and should be charged as such. They are the main contributors to America's decline and ECONOMIC destruction. They should be in prison. Geithner's arrogance is almost that of Obama's. They are both beyond incompetent and criminally out of their league.

As you know, I believe that this is at least as big, or, bigger threat than terrorism. It's the Federal Reserve that is destroying America. The high gas prices are a result of this Fed policy, not Libya, as the enemedia likes to say. The entire Fed policy is a giant Ponzi scheme. They have printed close to a $Trillion in new money, Quantitative Easing, or QE2, as they refer to it and the latest news is that they may continue, causing increased inflation. They are intentionally lying when they say that there is no inflation because the Consumer Price Index (CPI) does NOT measure gas and food, the 2 biggest increases in a typical person's budget!

The average person can't even contemplate a TRILLION dollars, or, a trillion anyting. Here's an example:

A million seconds pass in 12 days.
A billion seconds pass in 31 years.
A trillion seconds pass in 31,688 years!

Here's a personal example: 2 weeks ago, oranges at Walmart Superstore were $.30 each. Last week they were $.48. A few days ago they were $.58. That's a 93% price rise in less than 2 weeks.

This Keynesean economic plan by this Administration is responsible for this assault on America. It is NOT an accident! If these two were R's, they would have been forced out of office. This war has many fronts and this is a threat equivalent to Islam.

We are close to default and at great risk of losing our status of the USD as the world's reserve currency. Life will change instantly IF that happens. Americans better wake up and quickly.

Obama is waging war against America.

Government Cash Handouts Now Top Tax Revenues FOX Business

U.S. households are now getting more in cash handouts from the government than they are paying in taxes for the first time since the Great Depression.

Households received $2.3 trillion in some kind of government support in 2010. That includes expanded unemployment benefits, as well as payments for Social Security, Medicare, Medicaid, and stimulus spending, among other things.

But that’s more than the $2.2 trillion households paid in taxes, an amount that has slumped largely due to the recession, according to an analysis by the Fiscal Times.

And the handouts from the government have been growing. Government cash handouts account for a whopping 79% of household growth since 2007, even as household tax payments--for things like the income and payroll tax, among other taxes--have fallen by $312 billion.

That is a tough feeding trough to take away from voters.

One of the recurring themes FOX Business has been covering is “how the world has been turned upside down – well, the business world at least,” notes FOX Director of Business News, Ray Hennessey. “In a free market, profit is generated by hard work and enterprise," Hennessey notes, adding: “Because of the labor of the worker, companies generally have the ability to prosper and make more money, both for their employees and their owners," which in turn creates tax revenues.

Seems like common sense, right? That’s because it is. But not in our country today. Somehow the DNA of our country is changing. Wealth creation is coming from DC, not from America’s entrepreneurs.

In short, Americans have the government, not private enterprise, to thank for their wealth growth.

Obviously, there are big implications to this.

For instance, Hennessey asks, if indeed more households have the government to thank for their wealth, does that mean those households are more inclined to re-elect politicians who are pushing for more government handouts?

Does the workforce erode because it is easier to collect a check than answer to an alarm clock each morning?

Is our competitiveness as a nation hurt because profit is generated not by American capitalism but by European-style socialism? Can we, as taxpayers, afford to carry the burden of government-sponsored wealth creation?

All this comes at a time when a growing number of Wall Street houses, including JPMorgan Chase (JPM: 44.56, -0.09, -0.20%) and Barclays Capital (BCS: 19.38, +0.25, +1.31%), Bank of America (NYSE: BAC) and Morgan Stanley (NYSE: MS) are cutting their U.S. GDP growth forecasts by as much as a percentage point or more.

It also comes as President Barack Obama is already in re-election mode, as he bets his massive spending will woo independents. It also comes as Standard & Poor’s has joined the International Monetary Fund and Pimco, which runs the world’s biggest bond fund, in downgrading their outlook on US debt.

Please read the rest and weep for your country, for your future and for free men.

UPDATE: U.S. credit rating downgrade: the Armageddon scenario Washington Post

A credit rating downgrade for the United States would spell even more financial trouble for the U.S. government, hampering its ability to borrow money as investors demand higher yields to make up for the increased risk. That would cause its national debt to balloon further and increase the need to hike taxes or make even more painful cuts in spending.

But the real Armageddon scenario would occur when the impact of a sovereign downgrade hit the rest of the U.S. economy.