NEWS
FLASH
by
Ed
Dedelow
In Copenhagen this past
week, President Obama promised that the
United States, a debtor nation which owes
several trillion dollars, will print 100,000,000,000
dollars (that's billion) per year, forever,
to hand out to poorer countries to resolve
the carbon crises. Many scientists do
not believe this crisis even exists. And
although Hugo Chavez and other dictators
applauded Obama's promise, most foreign
leaders were not impressed.
At home, the President promised
to raise taxes on businesses, industries,
and individuals. Taxes are anticipated
to further cripple production. Consumers
are likely to seek more foreign goods,
requiring an increase in the 2008 trade
deficit beyond the $677 billion figure.
Other nations are expected to lose faith
in the dollar and to devalue it against
their own currency. At home, in the face
of lower production and the expected increased
cost of foreign goods, the gap between
rich and poor will widen.
Congress, which gave federal
employees a wage increase this last week
despite wage losses in the private sector,
is expected to give federal workers additional
inflation and other wage increases. The
alleged purpose of these additional increases
is to offset the anticipated consumer
price increases caused by the new taxes
and the higher priced foreign goods. The
real purpose of these measures is to secure
votes.
Some question President
Obama's motives. Look to your local listings
for further details.
Think about it.
Think outside the box.
Scientific Capitalist
http://moderneconomies.com/
