The Economic Crash of Countries is
Because of Liberalism--It is not
because of Capitalism
Victor Edward Swanson,
The Hologlobe Press
Postal Box 5263
Cheboygan, Michigan 49721
The United States of America
copyright c. 2013
March 25, 2013
Since the fall of 2010, I have uploaded to the Internet a number of documents that are regularly updated, and that is especially true of the document entitled Nonsense Statements and Quotations of Barack Obama, and this document is another document that will be updated from time to time as events around the world lead to my having to update the document, and the events that will trigger my having to update this document are those that I feel will teach an individual in the United States of America what and when politicians are doing things that will hurt or are hurting the economy of the United States of America, and the events that would trigger my work are not restricted to those that might be taking place or might take place in the United States of America. What is unfortunate for the good and honorable individual in the United States of America, some politicians in the world, even some in the United States of America, are purposely working to destroy the economies, and one way in which the politicians in the United States of America will work to kill the economy of the country is to follow the ideas of Richard Cloward and Frances Fox Piven--in essence, it was in 1966 that Richard Cloward and Frances Fox Piven, who were associated with the Columbia University School of Social Work, put forth the idea about killing a "capitalistic" country through what has become informally known as the Cloward-Piven Strategy, and that strategy was to have a government spend well beyond its means, particularly on social programs, and crash the economy--which destroys businesses or cripples businesses--so that the government can take over and end up in control of businesses and what is produced. Already, countries are crashing economically in Europe, and if you do not know that, you are unaware of already existing dangers to your life and livelihood, but what is worse is if you do not know the United States of America is heading toward a complete crash.
Here, I define four topics, and the definitions are given here so that I know you understand them, and those topics are "capitalism," "conservatism," "liberalism," and "Keynesian economics."
Before I give my definitions, I have to give an explanation. In Webster's Third New International Dictionary (1976), you will find this definition related to "liberalism": "a theory in economics emphasizing individual freedom from restraint esp. by government regulation in all economic activity and usu. based upon free competition, the self-regulating market and the gold standard" (Note: The "esp." stands for "especially," and "usu." stands for "usually"). Over time, the meanings of words can be changed by people, such as because they misuse words or purposely change the meaning of words. I say that, today, this definition of "liberalism" is passé, and when a person uses the word, that person will very likely not use it with this definition in mind, unaware the definition has ever existed, and if the person were to use "liberalism" with the meaning that it has in the quoted material from the dictionary and not explain what meaning is meant, people would misinterpret what is being said since that meaning has been forgotten or never learned of my most people.
Capitalism -- This word is not only a political-related term but also a business term. Capitalism is, for one, the idea of a person or entity creating a business--from a hair salon to a oil-drilling company--and trying to sell a product or a service to make money or profit so that the person can live and so that the employees of the entity can live, which involves paying for food, shelter, clothing, a vehicle, a vacation trip, medical care, and whatever. The goal of capitalism is for a company--no matter how big or how small--to take in more revenue than it pays out in costs so that the company can grow, which can include, for example, investing in new buildings, new employees, and new whatever (if a company takes in less money than the company has to pay out, the company goes out of business or goes bankrupt). Capitalism is about economics, such as a person's developing of products, promoting products, pricing products, et cetera. Capitalism has nothing to do with whether or not the society has abortion laws, whether or not there is free speech for the citizens, whether or not the country has only one religion, whether or not people are allowed to drink alcohol, whether or not women will have to cover their faces when in public, et cetera. Now that you have all the thought about "capitalism" presented so far in mind, I can say that "capitalism" has a political connotation, in that it is an economic system in which government does not own companies or businesses and in which companies and businesses are relatively free from government regulation, which means government does not tell companies who to hire, what to make, how much of what to make, where to spend money, on what to spend money, how much to charge to products, et cetera; however, in a country with a capitalist economic system, businesses and companies are not completely free of government control, which will come through some laws, such as those that might exist in relation to taxes or those that might be related to outright fraud. A person who supports "capitalism" is known as a "capitalist," and the person will usually be a "conservative" or a "libertarian" (the latter term of which is not tied to the political idea of "liberalism" as it is usually defined today and is tied to the political ideology known as "libertariansm," which is, for the sake of this document, like "conservatism").
Conservatism -- This word is a political-related term. It is a term that fits the United States of America as defined by The U.S. Constitution, which is a document that sets down the main structure of the country--a country in which the individual owns the government and in which the states are the creators of the federal government--and it is a document that spells out what the federal government cannot do to the citizens of the country (through the section known as "The Bill of Rights"). Conservatism has such ideas as the federal government should exist, but the federal government should be as small as possible, since the bigger the government is, the more control that the government has over the every-day lives of the citizens and the more cumbersome the government is. Remember: Conservatism is against having a highly government-controlled society or a highly government-run society or having what is thought of as a centralized-run society. Conservatism focuses on having a government in which the taxes are as low as possible so that people can determine better how money is used in the society, such as to create new things and build the wealth of all people. In relation to business, conservatism abhors government owning companies, and conservatism pushes the idea of keeping government out of the business decision process of companies as much as possible because politicians often act on political rules and not economic rules. It is noted here that, in the United States of America, a true "conservative" if associated with a political party will never be associated with the "Democratic Party" and will probably be associated with the "Republican Party," but a member of the "Republican Party"--known as a "Republican"--may not necessarily be a "conservative." (For more information on "conservatism,: you should see my document entitled Conservatism for Children and What Conservatism Means, which can be reached by using the link at the end of this document).
Liberalism (or Enslavism)-- This word is a combined political-related term and economic-related term, and, today, it is really an umbrella-title term for a number of specific types it, such as "socialism" and "communism," the latter of which more oppressive on people than the former, and, incidentally, some people use the term "statism," as an umbrella for all the types of "liberalism," one clearly defined form of which is "Marxism," which is a political idea that was defined by Karl Marx in the early 1800s. Liberalism is a political/economic idea that promotes a country's having a centralized-form of government, the strictest of which has a few persons making decisions about life and the living conditions for all the others, the latter of whom can number in the millions. Some of the variations of liberalism are (1) the government controls but not own private businesses (which is the idea associated with "fascism") and (2) the government owns and controls all businesses (so there are no private businesses), which is the idea associated with "communism." Generally speaking, in a country that has a government that is based on "liberalism," the government taxes individuals and private businesses greatly--ultimately, so much so that it is truly very difficult for an individual to start a business--and high unemployment is commonplace in a country based on a liberal system of government. In the United States of America, a "liberal" is very likely to be a member of the "Democratic Party," which today is much like a communist party or the Communist Party, and a "liberal" could be a member of the "Republican Party" so that the person can work to impose "liberal" ideas into the "Republican Party." Generally speaking, a "liberal" person, unlike the "conservative," cannot or will not define what the person really believes in, knowing the ideas of "liberalism" are enslaving ideas that go against the nature of free men and women. (By the way, I say that "liberalism"--a political ideology--is really "enslavism," which is a word that I am working to make more commonplace.)
Keynesian economics -- I now talk briefly about "Keynesian economics," because it is a liberal economic policy that you should be aware of. The idea sprouted out of the mind of John Maynard Keynes, a British economist in the 1930s, such as in his The General Theory of Employment, Interest and Money (1936). One part of Keynesian economics is the idea of having a government involved in controlling the economy in the country through deficit spending or spending more money than the government has taken in through revenue (such as taxes), but the idea of a government's spending more money than it has taken in as revenue is not necessarily tied to doing the great amount of spending to destroy the economy (unlike that promoted in the Cloward-Piven Strategy).
By the way, in the United States of America, a person who upholds the ways of "liberalism" can also be called a "progressive," a term that can make a naive person think that a person who is a "progressive" is a "progressive" thinker or a profound thinker or a thoughtful thinker or a better thinker than someone who is not a "progressive," but the idea of "progressive" being tied to thoughtful, profound, or better thinking is a defective idea and wrong, and it is the "liberal" politician who will often say that what the "liberal" does is done for "compassionate" reasons, which is incorrect, and "conservatism" has nothing to do with a person's having to wear "suits and ties" and such since the appearance of a person has nothing to do with what is in the mind of the person.
You should understand the general differences between "conservative" economic policies for country in relation to government and "liberal" economic policies for a country in relation to government. Generally speaking, conservative economic policies for a country in relation to government has the government not spending more money than it takes in through such means as businesses taxes, personal income taxes, and royalties, and under the "conservative" idea, the government is very less likely to get involved in trying to do "social engineering," which can involve, for instance, the idea of having politicians--especially liberals--taking money from some people (such as through taxes) to give the money to other people so that the other people will become dependent on the government and be beholden to the government and vote for those in government who would provide them with their ways to live. Generally speaking, liberal economic policies for a country in relation to government has the government very likely to spend more money than it takes in through taxes and royalties, and that puts the government in debt, and the overspending comes because the people who are in power know any money spent by the government is not actually coming out of their pockets, and the people in power know money can be used to influence voters, and the people in power are very likely to uphold the idea of "spreading the wealth around" or "redistribution" (which is the idea of taking from some people to give to others).
It is time to look at the world for what it is, focusing on recent history.
Greece is an old country, especially when compared with the United States of America. By the start of 2010, Greece was in economic trouble; for instance, the unemployment rate was about 10.2 percent. In early March 2010, Greece was the site of protests, one of which took place around March 10, 2010, and March 11, 2010, in which people were protesting the government's work to cut back on spending, such as public-sector cut backs on pay; by the way, unrest had already taken place in the previous month and in 2009. The rioting events of March 2010 were not the only rioting events in the first half or so of 2010 in Greece; for example, on Wednesday, May 5, 2010, there was rioting and marches, and this event took place around the time when it looked as if Greece would become a government in default. In early May 2010, the government of Greece was working to get bailout money from the International Monetary Fund and from the other countries that were members with Greece in the European Union before debt payments became due on May 19, 2010. It would be publicly reported on May 3, 2010, that Greece was to receive a 146-billion bailout amount from the European Union and the International Monetary Fund, the latter of which was set to vote "yes" within days; some of the money would be made available within weeks, and, overall, the money would be paid out over three years, and, of course, loan conditions had been imposed on Greece, such as the requirement to make austerity cutbacks. Incidentally, on May 5, 2010, police reported that three persons had died in the recent rioting event in Athens.
In the first half of 2010, there was news that other countries in Europe were in economic trouble, one reason of which was because the countries were involved in over spending related to social programs, such as national-health-care systems. For example, in February 2010, there were signs that Portugal was in economic trouble, and, in early May 2010, there were signs that Moody's (the investment-rating service) was going to downgrade the repayment status of Portugal. In December 2009, the unemployment rate in Spain was slightly above 19 percent, and, in early 2010, Spain was still in a recession, and it was estimated that the public debt for the country would go from 55.2 percent of Gross Domestic Product in 2009 to 74.3 percent in 2012 ("Spanish economy remains in recession." BBC News, 11, February 2010, 12:33 GMT; Schwartz, Nelson D. "In Spain, a Soaring Jobless Rate for Young Workers." The New York Times, 31 December 2009.).
Today, the United States of America is being assaulted by socialists and communists who have jobs within government, as it has never been before, and this paragraph gives a rough review of some recent events that show what troubles exist. In 2008, the United States of America was hit by an economic crash, and one big reason for the crash was a crash in the housing market, which had been affected by bad federal government policies and laws, particularly ones which were socialistic in nature, such as those that forced banks to lend money for home loans to people who were very unlikely to pay back the loans, which is an idea tied to "spreading the wealth around" or "redistribution" (and information about the crash can be found in my document entitled THOUGHTS AND PIECES OF LOGIC for the individual woman and the individual man, which can be reached by using this link: Logic). In November 2009, Barack Obama, who is a communist and Islamic radical, was elected to the U.S. Presidency, and soon after the election, business people, who were aware of what Barack Obama was and is, began to take up austerity measures, one of which was to put a freeze on hiring. After Barack Obama took over as the U.S. President, he began to put forth and sign into law socialistic and communistic polices and to put the country is deep, deep debt; for instance, he would sign the American Recovery and Reinvestment Act of 2010 in February 2009, and he would sign a massive spending bill known as the Patient Protection and Affordable Care Act of 2010 in March 2010. In the first fifty-seven days since Barack Obama took office, which took place on January 20, 2009, the federal debt was increased about 400-billion dollars, and, for example, CBS News reported on March 17, 2009, that the national debt was now about 11-trillion dollars or $36,000 for every person in the country, and that national debt did not included "unfunded obligations" like Medicare (Knoller, Mark. "National Debt Hits Record $11 Trillion." CBS News, 11 March 2009, 4:30 p.m.). The 2009 fiscal year for the federal government ended on September 30, 2009, and on that date, the U.S. government had increased the general-budget deficit (that not also including unfunded obligations) by $1.4 trillion, which was three times the previous record increase (Thiruvengadam, Meena. "U.S. Posts $176.36 Billion Deficit for October." The Wall Street Journal, 13 November 2009.). It was estimated in early February 2010, that the general-budget deficit (that not also including unfunded obligations) for the 2010 fiscal year, which would end on September 30, 2010, would be $1.56 trillion (Bull, Alister, and Jeff Mason, Caren Bohan, and Frances Kerry. "Obama's 2010 budget: deficit soars amid job spending." Reuters, 1 February 2010, 5:03 p.m. Eastern Standard Time.). During February 2010, the federal general-budget deficit (that not also including unfunded obligations) was increased by $220.9 billion, and it was the seventeenth month in which the deficit was increased, and, at the end of February 2010, the budget deficit for the 2010 fiscal year was now $651.6 billion, and, by the way, it was in February 2010 that Barack Obama approved through signature an increase of the debt ceiling to about $14.3 trillion (Censky, Annalyn. "Record monthly deficit for U.S.: $221 billion." CNNMoney.com, 10 March 2010, 4:19 p.m. Eastern Time.). On March 26, 2010, CNBC issued a story entitled "Rapid Rise in US Budget Deficit Projection," in which it was noted that the Congressional Budget Office estimated in 2008 that, from 2009 through 2018, there would be a spending surplus of $247 billion and that now the Congressional Budget Office estimated that, from 2009 through 2018, there would be $7.4-trillion deficit or $7,400-billion deficit (Liesman, Steve, and Michelle Lodge. "Rapid Rise in US Budget Deficit Projection." CNBC.com, 26 March 2010, 04:24 p.m. Eastern Daily Time.).
Special commentary note: It was in February 2010 that Barack Obama put together a panel--supposedly a bipartisan panel--to gather information about spending by the government and then make recommendations about how to solve the debt crisis and reduce the deficit, and a number of persons, one of whom was me, were guessing that the panel was a sham, that the panel was set up to do nothing more than recommend that taxes be increased so that government can take in more revenue, and that the panel was not going to recommend any big budget cuts (anyway, in the next month, the federal government would under the pressure of Barack Obama enact the biggest "entitlement program" ever to be created on Earth--the Patient Protect and Affordable Care Act of 2010, which is nothing more than a massive-spending-increase program).
Remember: The budget deficit referred to by the press on a regular basic or daily basis is the general-budget deficit (related to "discretionary spending"), and it does not take into account such spending programs as the Social Security program and Medicare, and Social Security and Medicare are considered "entitlement programs," and such programs are "unfunded obligations" of the federal government.
Keep this thought in mind: U.S. President Frank D. Roosevelt was a socialist and pushed the idea of having the federal government spend a lot of money to correct the problem of unemployment and get the country out of the Great Depression, and Henry J. Morgenthau, Jr., who was the Treasury Secretary for U.S. President Franklin D. Roosevelt from 1934 to 1945, wrote in his diary at one point in this life (and the punctuation is my design): "We've tried spending money. We are spending more than we have ever spent before and it does not work. We have never made good on our promises. I say after eight years of this administration we've just as much unemployment as when we started and an enormous debt to boot."
Here, I pass along highlights of news and information that you should be aware of, which you can use to expand the picture in your mind about the potential economic problems that seem very likely hit the United States of America in the near future, and, generally speaking, the news and information pieces are those covering the period from May 2010 to the end on which this edition of the document was published.
On Thursday, May 6, 2010, the Dow Jones Industrial Average (or the "Dow") went wild! At one point, during about a fifteen-minute period, that stock market indicator went down about 700 points, and at one point, the "Dow" was down 998 points down from what it had been at the closing of the previous trading session. At the end of the day, the "Dow" was down 347.80 points. Some people thought the problem was because of a trading error, and some people thought the problem was because of the economic troubles in Europe, especially in Greece.
It was reported on Friday, May 7, 2010, that the general unemployment rate in the United States of America was 9.9 percent and that the full-feature unemployment rate--the "U6" unemployment rate--was 17.1 percent; both figures had increased a bit since the previous report (the reports were issued by the Bureau of Labor Statistics of the U.S. Department of Labor).
The Web site known as "U.S. Debt Clock.org" reported Saturday, May 8, 2010, that the national debt was at about 12-trillion dollars (or, as reported, $12,962,821,473,004), and that the total unfunded liabilities figure was about 108-trillion dollars (or, as reported, $108,593,089,963,192), about 75-trillion dollars of which belonged to Medicare and about 14-trillion dollars of which belonged to Social Security.
It was on Sunday, May 9, 2010, that the International Monetary Fund, which is an international entity made up of 186 nations, agreed to make forty-billion dollars available to the European-bailout fund. (Note: Money of the United States of America or the citizens of the United States of America is tied to the International Monetary Fund. The United States of America is the biggest investor in or supplier of money to the International Monetary Fund; around May 2010, the United States of America offered about 17.9 percent of the money available through the International Monetary Fund, which was about fifty-four-billion dollars ("How much money does the IMF have?" News Center, 19 May 2010, 14:22.).)
On Monday, May 10, 2010, the members of a European Union and the International Monetary Fund (which had publicly announced a pledge of money on the previous day) created a one-trillion-dollar (one-thousand-billion-dollar) bailout fund, and it would involve the issuing of bonds, some of which, for example, would soon bought by banks in Europe; by the way, on the previous day, the political party of German Chancellor Angela Merkel had lost a regional election, and Barack Obama had made a push on Angela Merkel to get Germany to take part in the program, which had been opposed by the German government.
On Monday, May 10, 2010, the Federal Reserve, which is not a unit of the federal government of the United States of America and is a banking entity in the United States of America, also got involved in making loan money available--beyond that of the one-trillion-dollars related to the European Union/International Monetary Fund venture--to the European-bailout idea (and that was done, even though the federal government of the United States of America was in the "red" or in debt).
On Monday, May 10, 2010, it became public knowledge that Fannie Mae (or Federal National Mortgage Corporation), which had been rescued from bankruptcy by the federal government in 2008, was asking for somewhere around eight-billion dollars more in bailout money or loans from the American taxpayers, having lost 13-billion dollars in the first quarter of 2010; the loan were given, it would increase the total amount of bailout money presented to date to Fannie Mae to about 83.6-billion dollars and mean that about 145-billion dollars would have been given as a total to Fannie Mae and Freddie Mac since 2008.
Bloomberg Businessweek was one entity that reported on Tuesday, May 11, 2010, that it was possible the bond ratings for Germany and France could be downgraded (Glover, John. "Germany, France May Hurt AAA Ratings in 'Ponzi Game' (Update1)." Bloomberg Businessweek, 11 May 2010, 7:18 a.m. EDT.).
It became public knowledge around Thursday, May 13, 2010, that the amount of money added to the general-budget federal deficit by the spending done by the federal government in April 2010 was 82.7-billion dollars, and that amount was the greatest amount created for an April in history; in April 2009, the amount of new debt had been created was 20-billion dollars.
By the way, generally speaking, the euro (a currency item in Europe) fell in value against the dollar during the week of Monday, May 10, 2010, and on Friday, May 14, 2010, the value of the euro was worth a little below $1.24.
Using money borrowed from "bailout" fund put together by the European Union and the International Monetary Fund, Greece was able pay off a ten-year eight-point-five-billion euro bond on Wednesday, May 19, 2010, and now Greece would have to try to pay off the loan from the European Union/the International Monetary Fund some time in the future.
More rioting took place in Greece on Thursday, May 20, 2010, and the protesters were protesting the austerity cuts.
On June, 6, 2010, The Wall Street Journal issued an article that should make a person worried or maybe even fearful (Laffer, Arthur. "Tax Hikes and the 2011 Economic Collapse." The Wall Street Journal, 6 June 2010.). The article, which was considered an "opinion" piece, was entitled "Tax Hikes and the 2011 Economic Collapse" and was written by Arthur Laffer, a well-known and well-respected economist. In this article, based on what information was available to Arthur Laffer at the time that the article was written, Arthur Laffer noted that the second part of a "double dip" recession was very likely to occur in the United States of America in 2011 because, for one, taxes are going to go up, and the "taxes" to which Arthur Laffer referred are local income taxes, state income taxes, and federal income taxes and other taxes, such as capital-gains taxes, and Arthur Laffer noted that federal government revenues for next year will go down because people will take such things and capital gains and bonuses this year instead of next year, and Arthur Latter hinted that unemployment will get worse (and I say that unemployment will also increase because Barack Obama has put a lot of oil-industry workers out of work at least temporarily as a result of his recently announced order to block some drilling for oil in U.S.-associated waters, and the order came about because of the oil-rig explosion and disaster in the Gulf of Mexico, which had started on April 20, 2010).
An oil-rig associated with British Petroleum (or BP) exploded in the Gulf of Mexico on April 20, 2010, and, for at least eight weeks, Barack Obama blocked foreign entities from helping to contain leaking oil or suck up leaked oil from the Gulf of Mexico and, in early June 2010, he issued an order related to halting some drilling and exploring for oil in U.S.-associated waters, and then on June 16, 2010, Barack Obama met with executives of BP and was able to get them to agree to provide about twenty-billion dollars over a period of time to an escrow account--money that would be used as reported by the government to pay claims for damages because of the oil disaster--and provide one-hundred-million dollars to a foundation--money that would be used to pay workers who had become laid off because of Barack Obama's drilling-moratorium order--and what happened was, in essence, Barack Obama was taking money from BP, without going through normal court action, and taking money from stockholders of BP, such as average citizens of the United Kingdom and average citizens of the United States of America, which would, for one, hurt retired people in the United Kingdom who use dividends as income to live, and that means, to state it again, through what Barack Obama had done and was doing, Barack Obama was hurting the economy of the United Kingdom and taking money out of the economy United Kingdom--without having the legal authority to require BP to give up any money and without going through normal U.S. court procedures. (You are urged to see the document entitled Madness in a President and Other Matters of a Defective Mind, which can be reached by using this Madness link, to learn more about the oil-rig disaster.)
Two statements are now presented, and they both were given on Thursday, June 24, 2010, and they show that the Barack Obama administration of the United States of America is working to make the United States of America less likely to buy products from other countries, which will help lead to other countries losing income and having their economies take a down turn even more, maybe reaching recession state or depression state. On Thursday, June 24, 2010, the BBC was able to get statements in audio form from Timothy Geithner (the head of the U.S. Department of Treasury), and here is one thing that Timothy Geithner said: "...I think the world understands now that the world growth in the future...the world can't depend as on the United States as much as in the past. So for the world to grow together, you have to see more growth in the other major economies, too, not just in the emerging markets, which are very strong now, and the United States...." And Barack Obama made this statement on the same day: "...Ah, we said in Pittsburgh in the G20 that it was important for us to rebalance in part because the U.S. economy for a long period of time was a engine of the world economy. We were sucking in imports from all across the world financed by huge amounts of consumer debt. Ah, because of the financial crisis, but also because, ah, that, that was fundamentally unsustainable, ah, the United States is not gonna be able to serve in that same capacity to that same extent...."
Sometimes it is hard to tell whether a politician is truly ignorant of economics or is truly evil and will make statements about economics--that are ridiculous and false and idiotic--that are designed to convince naive people that what is said is true, and, in either case, what the politician is doing is hurting people, which is probably the main goal. On July 1, 2010, the current Speak of the House (of the U.S. House of Representatives was Nancy Pelosi (a Democrat related to California), and Nancy Pelosi made a number of statements to a reporter that became public knowledge on a national basis. One statement that Nancy Pelosi said was, "...Let me say that unemployment insurance--we talk about it as a safety net and the rest--this is one of the biggest stimuluses [stimuli] to our economy. Economists will tell you this money is spent quickly, it injects demand into the economy and is job creating. It creates jobs faster than most any other initiative you can name, because again it is money that is needed for families to survive and it is spent. So it has a double benefit. It helps those who've lost their jobs. But it is also a job creator...." Whether Nancy Pelosi believed the statement or not, it shows that Nancy Pelosi was not promoting good economics for the United States of America, since the themes of the statement are highly defective, and that means the future for the United States of America and, in turn, the remainder of the world will probably not be improved by anything--any law--that she votes for as a member of the U.S. House of Representatives. [Commentary: Remember, if the economy of the United States of America goes down, especially if it is done on purpose, the economies of other countries will be affected adversely, and my analysis shows that Barack Obama--the current U.S. President--is purposely working with other high-ranking Democrats to ruin the economy of the United States of America, and evidence of that can be found in a number of documents of mine that are available at the Web site for The Hologlobe Press, and the Site-Summary Page for that Web site can be reached by using this link: Summary.].
On Wednesday, July 21, 2010, Barack Obama signed into law a federal act called the Wall Street Reform and Consumer Protection Act, which had finally passed through the U.S. Congress on the previous Thursday. The law was made up of at least 2,300 pages of text, and the law would lead to the creation of additional rules by government bodies--on a day to day basis. Some members of the Democratic Party, such as Barack Obama, said around this time that the federal act would, for example, stop a crash like that of 2008 from ever happening again, which had been one of the main PR statements that had been used by Democrats to persuade the public that that developing federal act was going to be good. The act is very bad for the economy of the United States of America and the world, and one reason is it does nothing to clear up the problems of Freddie Mac and Fannie Mae, two big federal-government entities that were key to the economic crash of 2008, and the act also allows the federal government to become more involved in running and owning businesses in the private sector (as can happen in developing fascist countries or even communist countries), and the act allows makes it possible for left-wing activist groups--like the famed ACORN--to get involved in the decision-making processes of businesses. [You are urged to see the document entitled THOUGHTS AND PIECES OF LOGIC for the individual woman and the individual man, which can be reached through this link: Logic.]
The Congressional Budget Office (the CBO) of the United States of America released a semi-annual budget summary to the public or for the public to see on Thursday, August 19, 2010. By the way, the Democrats--socialists, communists, et cetera--gained control of the U.S. Congress in 2007, and, really, it is the U.S. Congress that sets the spending agenda of the federal government of the United States of America. The report from the CBO noted that the U.S. Congress has in thirty-one months added about $4,400-billion to the ten-year spending baseline projection (the "spending baseline" of a year is only the total spending for the year, and it does not take into account, for example, such entitlement programs as Social Security and Medicare, and so the $4,400-billion figure only notes the increase in the baseline amount). In addition, the report noted that, by 2020, about fifty percent of the money taken in by the federal government will go to paying off the interest on the national debt (that has nothing to do with paying down "principle"), and it was estimated in the report that the national debt tied to each household in America would be about $150,000 in 2020 (and that figure has been adjusted for inflation as it is estimated at the time the report was compiled and created).
Two of the stories of Tuesday, August 24, 2010, that stood out as important for every person to know are now presented. The National Association of Realtors reported on this day that the sales of previously lived-in homes dropped 27 percent in July 2010, making it the largest monthly drop in about four decades (Zibel, Alan, and J.W. Elpinstone. "Low prices and rates can't slow fall in home sales." Yahoo! Finance (from The Associated Press), 24 August 2010.). On this day, Economist David Rosenberg (of Gluskin Sheff + Associates Inc.) said that he believed the U.S. economy is in a "depression, and not just some garden-variety recession," and, for example, the information was reported in a story done by Jeff Cox for CNBC, and the story also noted that Goldman Sachs and JPMorgan had drastically dropped their predictions of the GDP figure for the country for 2010, dropping figures to from 1.6 percent to 2.0 percent (Cox, Jeff. "Economy Caught in Depression, Not Recession; Rosenberg." CNBC.com, 24 August 2010.).
On October 7, 2010, the Congressional Budget Office released preliminaries spending figures related to the federal government for 2010. The Congressional Budget Office reported that, since Barack Obama had become the President of the United States of America, the federal government increased spending in two years by at least 21.4 percent (some spending, such as that related to "TARP," was not taken into consideration). In addition, it was reported that the general-spending figure for the federal government for the fiscal year that ended on September 30, 2010, was $3.45 trillion (or 3,450-billion dollars). Incidentally, the full-unemployment rate (or the "U6" unemployment rate) around this time in the country was about 17.1 percent.
On Wednesday, November 3, 2010--one day after a national election in the United States of America--it became public knowledge that the Federal Reserve in the United States of America was going to take on a second "quantitative easing" of the money supply since the fall of 2008. In fall of 2008, the Federal Reserve started up "QE1" (or "quantitative easing one") of the money supply, and the program ran into early 2010, and it was reported by the Federal Open Market Committee of the Federal Reserve on November 3, 2010, that "QE2" would run from roughly November 2010 to June 2010 and would have a similar tactical goal as QE1 had. Generally speaking, the idea of "QE2" was for the Fed to spend up to 900-billion dollars to affect--supposedly--the credit markets in the country and make them better, and much of the money was going to be used to buy long-term U.S. Treasuries, such as from lending institutions, and what was--supposedly--believed were institutions that sold off what was bought by the Fed would have more money to lend to businesses. At the time, the full unemployment rate in the country was about 17.1 percent, and some bad politicians and economists were promoting--publicly promoting though not really believing probably--the QE2 program was a way to get more money into the hands of businesses so that businesses would hire more people, but the defect in the thought was that businesses do not hire till they can show it is worthwhile to hire people--when more employees are needed to meet the demand for products or services required by the public (and if the public has not the money to spend on products and services, businesses do not hire). Really, at the time of the announcement, getting credit was not really a problem for the private sector, as it had not been for many months, and what the problem was was a lack of customers (one reason for that is, since the fall of 2008, citizens and business owners in the country had cut back on spending because they knew Barack Obama's political ideas, such as tax policies, were going to hurt the private sector, though only some knew it would be purposely). In essence, 900-billion dollars would come from the government printing presses, and what that would do would is cause inflation or high inflation, which would cause a devaluation of the dollar and cause what money people had in their pockets to use and had in savings, such as in retirement accounts, to be deflated (for example, one dollar would buy less than it used to). In essence, the federal government was pushing was the idea of "monetizing the debt" of the country--a very bad policy--in which it prints money to pay of debt, much new debt of which had come from federal-government overspending under the Barack Obama administration since January 2009, and what the action was was an act of more spending, which was not needed and would not accomplish what it was publicly reported--reported to fool the public.
There exist in the world companies that rate the quality of investment vehicles, such as Moody's and Standard & Poor's. Dagong Global Credit Rating Co. Ltd, which was founded in 1994 and which is based in China, is such a company. Around November 9, 2010, it became public knowledge hat Dagong Global Credit Rating Co. Ltd had downgraded the U.S. from "AA" to "A+" (at the time, Moody's had the U.S. at "Aaa"; Fitch and Standard & Poor's had the country at "AAA" in their ratings).
Between 2008 and late 2010, people were concerned about the economic troubles of such other European countries as Portugal and Ireland, and people were worried such countries might have to be bailed out. On Sunday, November 21, 2010, Ireland officially applied for a loan from the European Union/International Monetary Fund (or IMF), and the European Union did agree in principle to make a loan to Ireland, and the country--which could then be called a "sovereign"--was asking for no more than one-hundred-thirty-seven-billion dollars (or no more than one-hundred-billion euros). Between November 28, 2010, and December 1, 2010, news stories showed that it was clear that Ireland had been promised up to about eighty-nine-billion dollars or ninety-billion dollars in loans, and the government of Ireland had to sell its stake in banks in Ireland to other entities, and the payment scheme had an average 5.8 percent interest figure attached to it (which was related to a time period having an average duration of seven-point-five years), and, by the way, the previous week, budget cuts and additional taxes had been announced, a figure that amounted to about twenty-point-five-billion dollars (or about fifteen-billion euros), and the announcements had caused some protests. Around this time--late November/early December 2010--the unemployment rate in Ireland was at about 13.5 percent. Now, examine this line existing in a story published by The Associated Press on December 1, 2010 (Stringer, David. "Ireland discloses bailout deal details." The Associated Press, 1 December 2010, 7:15:15 p.m.)--"Ireland must consult the IMF and European authorities over any major changes to its economy policy, according to documents disclosed Wednesday outlining details of the country's international bailout." What the previous line shows is what was a once "sovereign" nation is no longer "sovereign," since, for instance, at least in a small way, communists and socialists of other countries can now determine the economic policy of Ireland.
On January 19, 2011, several events took place in the United States of America that a person should know about. On Wednesday, January 19, 2011, Republicans in the U.S. House of Representatives through what was called a "Republican Study Committee" released information that it had ideas for a piece of legislation called the "Spending Reduction Act of 2011," which had the purpose of showing two-point-five-trillion dollars in cuts that could be made in discretionary spending by the federal government over the ten years. The spending cuts are certainly necessary, because on Wednesday, January 19, 2011, the calculated budget deficit of the federal government related to discretionary spending went above fourteen-trillion dollars (or 14-thousand-billion dollars), and it meant that the deficit was nearly to the ceiling that had been set in March 2010, which was 14.294-trillion dollars (and that meant each person's share in that debt was about $45,300), and, by the way, half of that roughly $14-trillion debt had been created in the last six years, and the Barack Obama administration had added about three-point-six-trillion dollars to the descretionary-spending debt from January 20, 2009, to January 19, 2011. [Be aware the federal government has non-descretionary-spending debt related to such programs as Social Security, Medicare, and Medicaid, and that spending debt is well over one-hundred-trillion dollars (or one-hundred-thousand-billion dollars, and, by the way, on January 8, 2011, The Fiscal Times (the United Kingdom) published an article entitled "Bernanke Warns of Dire Effect of Unsustainable Deficit," and the article noted that Ben Bernanke--a close associate of Barack Obama's--said that more taxes are going have to be imposed on people in the United States of America who make less than $250,000 in gross earnings in a year, something that Barack Obama has promised will never happen, but, of course, Barack Obama is a perpetual liar (Goozner, Merrill. "Bernanke Warns of Dire Effect of Unsustainable Deficit." The Fiscal Times, 8 January 2011.]
On Monday, March 7, 2011, the Congressional Budget Office of the federal government of the United States of America announced preliminary statistics about the spending by the federal government in February 2011. The deficit figure for February 2011 that was announced was about $223-billion, which was about $60-billion greater than the entire budget deficit for fiscal year 2007 had been. February 2011 was the twenty-ninth month in a row that the federal government had a budget deficit for a month, and, by the way, it was, up to the start of March 2011, the biggest deficit for a month ever.
In March 2011 and April 2011, some countries had their bond ratings reduced. On Monday, March 7, 2011, Moody's Investors Services downgraded the credit rating of Greece from Ba1 to B1, and that was a drop of three points. On Thursday, March 10, 2011, Moody's Investors Service dropped the rating for Spain by one point, making the rating an Aa2 now. And on Tuesday, April 5, 2011, the rating from Moody's Investor Service for Portugal went from A3 to Baa1.
From the 1940s to April 18, 2011, the United States of America had a good financial rating with respect to paying off debt, as noted by financial-ratings firms, such as Standard & Poor's. Standard & Poor's is based in the United States of America, and it is possible Standard & Poor's might be a little hesitant about giving out bad news about the United States of America till it could no longer hold back. On April 18, 2011, Standard & Poor's gave out a warning that noted, in essence, it might officially downgrade the debt-payback outlook of the country in the near future by downgrading the general long-term outlook for fiscal health from "stable" to "negative."
In July 2011, especially late July 2011, and very early August 2011, the government of the United States of America was grappling with the idea of raising the "debt ceiling" for the federal government and reducing the spending. To solve the economic problems or tackle the economic problems, a one proposal was the "Cut, Cap and Balance" Bill, which was passed by the U.S. House of Representatives and killed by the U.S. Senate, and there were other proposals. [Author note: I say that the "Cut, Cap, and Balance" bill was the best of the bills.] While people in the U.S. Congress worked to pass something--anything it seemed--there were hints that such credit-rating entities as Standard & Poor's were thinking of downgrading the financial rating of the federal government, and Democrats in the U.S. Congress and other Democrats, such as the U.S. President (Barack Obama) and many high-profile news-media people, especially those of NBC and MSNBC, were saying that, if the "debt ceiling" is not raised, the country will go into "default," which was a lie (since the government takes in enough money each month to pay off on bonds and such that come due for payment), and the same people were saying that, if the "debt ceiling" is not raised, credit-ratings entities will downgrade the bond status of the United States of America (and I knew, if the rating for the country went down, it would be because ratings entities saw that the people in the federal government were doing nothing serious about stopping the growth of debt for the federal government and reducing spending). Finally, on August 2, 2011, Barack Obama signed into law the "Budget Control Act of 2011," which allowed him to, for one, have about a two-trillion-dollar increase in the "debt ceiling," and the law really did not set up a plan to slow down the spending habits of the federal government. On Friday, August 5, 2011, Standard & Poor's downgraded the bond rating of the U.S. by one level (going from "AAA" to "AA+"), making it the first time in history that the rating has been downgraded, and the credit-rating agency gave the federal government also a "negative" future outlook.
One of the well-known financial-ratings companies in the country and the world is Standard & Poor's. On January 13, 2012, that company made an announcement about the rating status of four countries--Austria, France, Italy, and Spain. All four countries had their status lowered; for example, Italy fell from "A" to "BBB+" and Spain went from "A" to "AA-".
On Sunday, May 6, 2012, in the evening, it was well known all over the world who had won in elections held in Greece and France over the weekend, such as the election for president in France, and the elections showed how the people of two countries are very likely to see hard times for many years to come. In France, a hard-line socialist--Francois Hollande--became the president-elected, and Francois Hollande has said, for example, that he "dislikes the rich," and, in essence, Francois Hollande had made it clear that he was going to work to raise taxes in France, especially on the rich, and people around the world seemed to realize the government of France was not going to work on "austerity measures," which are measures to control government spending. Elsewhere, it was clearly evident that some 45 percent of the Parliament in Greek was now going to be controlled by communists and socialists and fascists (neo-Nazis), and once again, it seemed very likely the push by the government would be to continue spending and avoid "austerity measures." In essence, it can be said that many people of France and Greece are stupid or evil, having voted for "enslavists" and political thugs, and they care not about crashing their economies, and so it goes with "liberalism" and the like (where people take up asking the government to punish others and give them what belongs to others'--now).
When politicians of a country overspend their budget, working to purposely crash the economy of the country or not purposely crash the economy, it is the citizens who are beholden to pay off the debt created, and when politicians purposely work to crash the economy, they can be likened to killers, and when such killers overspend, they are most likely working to set it up so that they can steal savings from the citizens and make the citizens poorer or poor. In March 2013, Cyprus became the first country in Europe--in recent years--to take up the idea of taking money from its citizens' bank accounts to help get rid of debt that had been created by the government, and the idea was part of a plan that would have the European Union give loans to Cyprus. At first, it was around March 16, 2013, when the idea of taking money from citizens' accounts showed up, and news entities reported that there was a plan to take money from everyone through a tax--the planned tax was set at 9.9 percent on accounts with more than 100,000 euros (or about $130,000) or 6.7 percent for all other accounts. The public in Cyprus was outraged, and people headed to ATMs to get their money or as much of their money as they could get till the ATMs ran out of cash. Soon after the announcement was made about the plan, the plan was put on hiatus, or the Parliament of Cyprus decided not to vote on enacting the idea. Banks would be closed for about a week when a new plan showed up. It was reported by news entities around March 24, 2013, that a new plan to tax savings accounts had been designed, and the plan was going to tax up to 40 percent on savings accounts with more than 100,000 euros (or $130,000) in assets. By the way, at this time, the general-operating debt for the United States of America was about $16,000-billion and the entitlement debt was many $10,000-billion more, and I say that only an idiot or an evil person would say that federal politicians like Barack Obama would not enact a plan to confiscate money from the bank accounts of American citizens in the near future to cover the over spending done by the federal politicians.
Up to this point in the document, I have left out much about the story of the falling of Europe economically and even the falling of the United States of America economically, feeling I have offered enough points to show big problems are ahead, and at this point of the document, I am focusing on the time period covering around November 2012 and December 2012. Around this time, people--especially politicians in the federal government--were talking about the approaching "fiscal cliff," and to most Americans who were no politicians, their understanding of the approaching "fiscal cliff" was wrong; believing everything would be fine and a "crash" would be avoided if some more taxes were imposed on the so-called rich, as was being proposed; in other words, the "fiscal cliff" was something that would happen if more tax revenues were not brought into the federal government, which could help reduce the debt amount of the federal government, and, in essence, what was being proposed was something like one-hundred-billion dollars in more taxes on the so-called "rich." Well, it was all nonsense. The Democrats (basically made up of black racists, communists, socialists, and such) in the U.S. Congress wanted taxes raised, and, of course, Barack Obama (a communist and what is worse than a communist) was pushing for the more more taxes, but they were not pushing true budget cuts or cutbacks in spending, and it must be remembered since 2009, Barack Obama and the Democrats in the U.S. Congress added about 1.3-trillion dollars (or 1,300-billion dollars) each year to the federal debt, and much of the money was wasted on propping up mismanaged local government (such as pension plans) and starting up defective green-energy companies, and it was estimated that at least 1.3-trillion dollars was also going to be added to the debt each forthcoming year over at least the next four years. Really, the Democrats overspent and were overspending so that they would have a reason to call for more taxes (and, in truth, much of the push to get more taxes was designed to allow them to continue on with their ways of "wealth distribution" in the country, keeping them in power in exchange for what they might out to some groups of people and allowing them to create a dependent class of people (made up of tens of millions, and the idea was and is a crime against mankind). Around this time, people who were smart understood that the "fiscal cliff" was not going to be averted by taking in somewhere around one-hundred-billion dollars in more taxes each year or at least the next year (imposed on, in essence, the so-called rich), since the real "fiscal cliff," which was not being talked about, was the big economic crash that was forthcoming because the federal government was adding more than 1,000-billion dollars in debt each year (about 1,300-billion dollars minus about 100-billion dollars is over 1,000-billion dollars) and was not cutting spending. In addition, the additional money that the Democrats wanted and a few of the Republicans wanted from the citizens would give citizens less money to use as they would like, such as to start small businesses or buy things that would help people who make things, and the whole event was a sham on the American people and was certainly not going to solve the big problem--overspending by federal politicians.
One piece of proof of Barack Obama's wish to go over the "fiscal cliff" came on Thursday, November 29, 2012. On that day, the U.S. Secretary of the Treasury Timothy Geithner presented an offer from Barack Obama that included, for example, $1,600-billion in new taxes over the next ten years and another "stimulus"-bill idea, which was a $50-billion idea, which was more debt actually, of course. What were the proposed cuts in spending? For one, there would be cuts to heatlh-care programs (remember, Barack Obama has worked to make everyone in the country dependent on the federal government for health care, which is the main reason that the Patient Protection and Affordable Care Act f 2010 was made the law of the land). In addition, Barack Obama was proposing in an agreement with Republicans in the U.S. Congress that the "debt ceiling" for the federal government should be permanently removed, which would mean there would be no blocking measure--as small as it is--on spending by the federal government (and that is the sign Barack Obama has no intention of cutting spending).
There comes a point when you have to come to a conclusion on facts that exist and are presented to you.
Let me explain some ideas about ignorance related to politicians, who should never be seen automatically as smart. Ignorance in a politician can be because of the politician's steadfast belief to a particular ideology, which is can be defective, especially if it is socialism or communism. Ignorance in a politician can be because the politician is ignorant about a variety of subjects, which is not surprising in this day and age when to many people specialize in a subject and seem to lack general knowledge about many subjects (often, a politician is highly versed in law and little versed in many other subjects, one of which, unfortunately, is macroeconomics).
So I come to the big question--Why would people be willing to destroy the United States of America as it was founded or take over the United States of America?
I have answers to the question just presented about such people. They can be leaches on society--types of people who wish to have easy lives, letting others do work. They know nothing else in their minds--they are enslavers by design and wish to be nothing else than enslavers, and they wish not to be other persons, such as from plumbers to architects or from waitresses to scientists. They uphold a religious belief that is highly defective, and they wish to impose the highly defective religion on other persons. They can be so self-centered, being narcissists, that they care absolutely nothing for other persons, and because of that, they make decisions that are designed to always protect them, and the decisions are made, even though they know the decisions will hurt others or even though they do not know the decision will hurt others (which happens because they never come to understand how decisions can end up hurting others). They are megalomaniacs, feeling they are the smartest people on the planet--people who are always right and people who can make no wrong decisions--and they may feel their "God" put them on the planet as the most special persons. They plan to set up a single main government for the world, which has never been down, and they want to be the first to do it, and each hopes to be the leader or one of the leaders, and that means they must damage the United States of America enough so that they make it dependent on a world government. They can have a vendetta to complete or have revenge in mind--for example, a politician might wish to take revenge on the United States of America for having disposed of Saddam Hussein, the former dictator and killer in Iraq, because the politician thinks of Saddem Hussein as a brother. They can have highly ill minds--a person who occupies a political job can have a highly ill mind, as can a person in any other type of job, and a person with an ill mind who becomes a politician, which might never be understood fully by others, can simply wish to do harm to others for the sake of doing harm to others.
The reason why Barack Obama is doing harm to the United States of America--and it is clear Barack Obama has done harm at least financially to the United States of America--may never be fully known or fully correctly known, but, certainly, the choices that I have presented in the previous paragraph would be in the running for why, and those ideas have nothing to do with capitalism or conservatism, since capitalism, which is not a political idea, and conservatism do not promote or uphold the idea of a government spending more than what the government has as revenue, and that means capitalism and conservatism cannot be blamed for the crash of an economy, but it is publicly known that Barack Obama follows the ideas of such "liberal" ideologies as communism and socialism.
Keep your eyes open--a crash could be coming soon, if Barack Obama has his way and is not blocked from now on and till at least November 2012 and not pushed out of office through the election of November 2012.
P.S. #!: Early in this document, I state--"And what must not be forgotten is "liberals" or "liberal governments" can practice "capitalism" since "capitalism" is an economic idea and not a political idea--a person or entity that practices capitalism has the goal of making money and not losing money."--and I now note what some communists and socialists are actually doing. The documentarian known as Michael Moore, who promotes communism and hates corporations and made Roger & Me and Capitalism: A Love Story, makes money through his films, and Michael Moore, certainly, does not do what he does to lose money. China is a communist country, and it is not working to take in less money from other countries than it pays out. The managers of NBC-TV and General Electric, though they promote Barack Obama as good, are working to take in more money than they pay out.
P.S. #2. It was on Thursday, December 2, 2010, that Nancy Pelosi--then the Speaker of the U.S. House of Representatives and a Democrat related to California--made a statement that showed she was ignorant about economics or evil: "...Unemployment insurance, the economists tell us, return two dollars for every dollar that is put out there for unemployment insurance. People need the money. They spend it immediately for necessities. It injects demand into the economy. It creates jobs to help reduce the deficit. Giving seven-hundred-billion dollars to the wealthiest people of America does add seven-hundred-billion dollars to the deficit, and the record and history shows, it does not create jobs! It does not create jobs....."
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Note: On Saturday, May 8, 2010, I went to the Web site for TradingEconomics, and I was a page that presented the unemployment rate, such as through a chart, for Greece that was entitled "Greece Unemployment Rate," and it covered the period from about 2007 to January 2010, and the main address for the Web site was http://www.tradingeconomics.com....
Note: On Saturday, May 8, 2010, at about 10:30 a.m. (Eastern Daylight Time), I went to the Web site entitled "U.S. Debt Clock.org" to see what it had listed for the national debt.
Note: On Saturday, May 8, 2010, I went to the Web site entitled "US National Debt As Percentage of GDP," and the main Web site address was http://www.usgovernmentspending.com....
Note: This document was originally posted on the Internet on May 19, 2010.
Note: This document is known on the Internet as www.hologlobepress.com/crash.htm.
For further reading, you should see the
document entitled Conservatism for
Children and What Conservatism Means,
which can be reached by using this link:
For further reading, you should see the
document entitled Madness in a President
and Other Matters of a Defective Mind,
which can be reached by using this link:
For further reading, you should see my
document entitled Nonsense Statements
and Quotations of Barack Obama, which
can be reached by using this link: Quotes.
For further reading, you should see the
document entitled Never Forget These
Media "Darlings" ?: A Guide for the
Individual in the United States of
America, which can be reached by
using this link: Media.
For further reading, you should see the
document entitled A Little History of
Barack Obama Events: A Show of
Deconstruction, which can be reached by
using this link: History.
For further reading, you should see the
document entitled Lessons for Children
about Politics and Dangerous People,
which can be reached by using this
For further reading, you should see the
document entitled The Next Elections:
What Has to be Done to Protect the
United States of America, which can
be reached by using this link: Elections.
For further reading, you should see the
document entitled World Tyranny:
Warnings about the Insane Who are
Trying to Create a Communist World
Country, which can be reached by
using this link: World.
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Web site for The Hologlobe Press that will
give you information about the bad that Barack
Obama and his associates are doing to the
United States of America, such as the Michigan
Travel Tips documents and the T.H.A.T.
documents that have been published since
the fall of 2008.
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