No, the B doesn’t stand for Barack, it stands for Bernanke.
The Fed released their notes on Wednesday indicating the economy is shrinking, congress is gridlocked, and Obama doesn’t have the power to do the only thing he knows; pass another stimulus program putting the world’s biggest debtor nation deeper in the hole. Voters in the 2010 election took that power away from Obama.
You know when you’re deep in debt the solution is always to borrow more money. So the governors of the Federal Reserve Board said we may have to do something.
Wall Street said; please oh please print some more money to devalue the dollar so we can continue to prop up an overvalued stock market making record profits while America’s middle class remains in the bulls eye of Obama’s economic destruction. We get ours, too bad for the middle class.
Several of the board members agree. Disregard that the mission of the Federal Reserve Bank is to protect the value of the dollar and keep the money supply in balance as to not cause dislocation and inflation. Seems B thinks his job is to destroy the dollar and inflate our way to solvency. His new charge is to create jobs because Obama has proven incapable.
What did Churchill say? A nation trying to tax (inflate) its way to prosperity is like a man standing inside a bucket trying to lift himself up by the handle.
Churchill today would probably say the American president, and the Federal Reserve have deserted the American idea. Individual liberty and property rights be damned when there’s an election to win and power to be maintained.
The O stands for Obama. Obama says the tax cuts for the rich costs the government too much money. To believe this you MUST believe your labor, your earnings belong to government first who will decide what is ‘fair’ for you to keep. This is wrong headed socialist thought.
This is the antithesis of the American idea of individual liberty and property rights. But Obama already proved at Osawotomie he doesn’t believe in the capitalist system or the American idea; Obama says it’s never worked. So Obama denies our past and destroys our future based upon leftist ideology.
Look to Europe if you believe the big government nanny state works. Spain 25% unemployment and bankrupt. Greece worse.
The O in our housing market is Obama eliminating the middle class leaving America with a ruling elite as the masterminds, and the rest of us dumb masses to do as we’re mandated.
Who predominantly owns, buys, and sells the most homes in America? The middle class.
Answer this; has Obama energy policy driving up the price of gas, electricity, and food helped preserve or destroy the middle class? Has Obamacare created or destroyed jobs for the middle class? Has the Obama green economy and spending created jobs for the middle class? No. It has created the worst labor market since the Great Depression and debt that will enslave the middle class for generations. If it can survive.
When the middle class can’t find work, have their wages stagnate, see the costs for basic necessities inflated; do they buy and sell homes? No.
Why then are any homes selling? Because people need a place to live, and the insane Bernanke interest rate policy makes it moronic not to buy a home. Another short term gain, long term pain government action plan.
Ben Bernanke is destroying the dollar, Barack Obama is destroying the economic system that protects individual liberty, while decimating the middle class. Yes ladies and gentlemen the housing market has BO. It is anti-capitalist, it is destructive of our currency, it threatens all that you have worked for and the values which you hold dear.
It is time to take this government to task. The leftist radicals that control the Democratic Party, the RINO’s who went along to get along, need to be voted from office. They have earned it. The 2010 midterm election defeat of the Democrats needs to pale in comparison to 2012.
If the American people don’t dispense the radical Obama and his leftist administration on November 6th, the fundamental transformation will be completed. Property rights, the DNA of individual liberty, will be eliminated to allow for the redistribution of wealth to those who believe you owe them a living.
Their lives and yours will be hollow. The free market of America will be no more. America will be like Greece just before the fires in the streets if the leftists win on November 6th. Will Patriots rise to the challenge?
The opinions expressed here are solely those of Fritz Pfister or identified sources, and not necessarily those of RE/MAX Professionals of Springfield or RE/MAX International.