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Obama Leading Us to a Repeat of Weimar Republic Collapse

The step of monetizing our debt, ladies and gentlemen, is where we turn down the road to repeating the history of the Weimar Republic. I pray, dear Lord, help us hang on. Help us preserve our republic.

The president says the worst is behind us, but the numbers just don’t add up.

Keynesian, liberal/democrat/progressive, Obama economics: FAIL.

*  Obama says worst is behind us  http://www.msnbc.msn.com/id/34522167/ns/business-small_business/

*  “In a step that will be one of the markers on the road to economic and financial catastrophe,” the Fed announced it will begin monetizing U.S. debt.  “The Federal Reserve, in effect, will use its printing press to buy long-term U.S. government debt.”  http://www.huffingtonpost.com/sheldon-filger/federal-reserve-begins-ma_b_677483.html

*  Jobless Claims “Unexpectedly” Climb Last Week, Have risen in 3 of last 4 weeks.  http://www.businessweek.com/news/2010-08-12/jobless-claims-in-u-s-unexpectedly-climbed-last-week.html

*  Atlanta: 30,000 people wait in line for days just to get on WAITING LIST for Section 8 public housing.  http://www.11alive.com/rss/rss_story.aspx?storyid=149888

*  US Government runs $165 Billion deficit in July, 22nd straight month of deficits.  http://www.marketwatch.com/story/us-july-budget-deficit-165-billion-treasury-2010-08-11-140580?siteid=rss

*  U.S. Posts Widest Trade Gap in 20 Months  http://www.industryweek.com/articles/u-s-_posts_widest_trade_gap_in_20_months_22515.aspx

*  Foreclosure rates increase:  “While the government has intervened over the past 18 months to try and arrest the rate of decline in home prices, we think their efforts have merely kicked the can down the road and have done little to alter the underlying nature of the problem.”  http://www.businessinsider.com/the-cliffs-of-insanity-a-view-on-the-housing-market-2010-8

*  “Californians’ income sees 1st decline since WWII”  http://news.yahoo.com/s/ap/20100811/ap_on_bi_ge/ca_california_personal_income_1

*  Medicare Chief Actuary contradicts trustee and Obama reports of Medicare projections:  “The financial projections shown in this report for Medicare do not represent a reasonable expectation for actual program operations”  http://abcnews.go.com/Politics/medicare-savings-projections-dispute/story?id=11339030


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