Thursday, June 9, 2011

Conservative on Target! – Inflation, Europe, Obama, & Debt

imageFrom down the rabbit hole > Guess who is now the top owner of publicly traded U.S. Treasury securities debt? Us! Not China. Then add in the +$100 trillion or so that we owe ourselves in the implied debt of our entitlement systems and weep! At last we can either drive ourselves into bankruptcy by trying to collect from ourselves or inflate ourselves into oblivion.

Restaurant Obama Cited Last Week as Bailout Beneficiary Going Out of Business > Moral of the story: If the administration approaches you and wants to use you or your business as an example of how massive government spending has saved the economy, politely decline the offer, go home for the day and come back when the coast is clear.

Europe Is Warning Us > “If dispirited Europeans are conceding that something is terribly wrong with their half-century-long experiment with socialism, unassimilated immigrants, cultural apologies, defense cuts, and post-nationalism, why in the world is the Obama administration intent on adopting what Europeans are rejecting?”

"Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments." -- Ayn Rand