Quote of the Day
January 15th, 2013 - 12:02 pm
John Podhoretz on the President’s Monday press conference:
The president has asserted that the exemplary moral behavior for the United States (with its $16 trillion debt and $1 trillion-plus in annual interest payments on that debt) is . . . to borrow more money.
He won’t let the country be “held hostage,” nor will he pay Republicans a “ransom.” They are putting “a gun to the head” of the American people.
What Obama is saying is simple: The United States has become Too Big To Fail.
Obama needs to ask himself one simple question: Who bails out the bailouters?
No-one will bail out the United States and why should they. When Argentina suffered currency collapse in 2001, many foreign investors swooped in and acquired property and other “real assets” at fire sale prices.
When the time comes China and middle eastern countries will simply acquire all of the farmland, national parks (and their oil, nat gas, lumber, coal…) and military equipment (for sale USS Ronald Reagan going cheap) for oil and or gold.
The Peoples Republic of California will then become a reality. But hey, it’s change…
“They are putting “a gun to the head” of the American people.”
Really? The American people? Or, the American government? Or, a small portion of that government and their ceronies?
This kind of verbiage is exactly how the demagogues work.
Stephen,
With respect, the obvious and direct answer to your question:
“Obama needs to ask himself one simple question: Who bails out the bailouters?”
is:
*everyone* that holds debts or (income producing) assets (that generate income in dollars) denominated in U.S. dollars, as the unavoidable inflation that accompanies monetizing the unsustainable debt reduces the value of the dollar.
Best Regards,
So that’s why the President wants new gun-control legislation! Now the only one capable of holding a gun to the head of the American people will be… him.