According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.
Put that in your calendar.
It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.
Some points are worth mentioning that weren’t mentioned in the article. A lot of figures were thrown around, but no attention was given to China’s large population. The vast majority of people there live in abject poverty. They will persist to live that way well beyond whatever benchmark is prognosticated when China’s economy surpasses the U.S. Life in the United States will beat, on average, whatever standard applies to China. Hopefully the economic prosperity and a growing middle class will serve as a catalyst for change (I hate that word for some reason!) in China, but I wouldn’t count on it.
For what it’s worth, I mentioned Palin’s speech yesterday and talked about it on… drum roll… MSNBC. But is it a mystery or sign of bias when an author and former vice presidential candidate gives a speech at a rally and it doesn’t get national news coverage?Mansour, Nolte et al know that conservatives have all the access they want to Palin’s speech, through live-streaming and other videos. It doesn’t matter whether the media covers it.
Charley Reese’s Final Column – Orlando Sentinel
Great article !
Charley Reese is retiring. His last column is this one. I know many will miss this southern gentleman.. He had a great run and we are all better off for it. Farewell, Mr. Reese, and thank you. Charley Reese has been a journalist for 49 years.
Be sure to read the Tax List at the end.
This is about as clear and easy to understand as it can be – read it!! The article below is completely neutral, not anti-republican or democrat.. Charlie Reese, a retired reporter for the Orlando Sentinel, has hit the nail directly on the head, defining clearly who it is that in the final analysis must assume responsibility for the judgments made that impact each one of us every day. It’s a short but good read. Worth the time. Worth remembering!
555 vs. 300,000,000
EVERY CITIZEN NEEDS TO READ THIS AND THINK ABOUT WHAT THIS JOURNALIST HAS scriptED IN THIS MESSAGE. READ IT AND THEN REALLY THINK ABOUT OUR CURRENT POLITICAL DEBACLE.
555 PEOPLE–By Charlie Reese
Politicians are the only people in the world who create problems and then campaign against them..
Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?
Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?
You and I don’t propose a federal budget. The President does.
You and I don’t have the Constitutional authority to vote on appropriations. The House of Representatives does.
You and I don’t write the tax code, Congress does.
You and I don’t set fiscal policy, Congress does.
You and I don’t control monetary policy, the Federal Reserve Bank does.
One hundred senators, 435 congressmen, one President, and nine Supreme Court justices equates to 555 human beings (Actually 445 if you add his figures correctly) out of the 300 million are directly, legally, morally, and individually responsible for the domestic problems that plague this country.
I excluded the members of the Federal Reserve Board because that problem was created by the Congress. In 1913, Congress delegated its Constitutional duty to provide a sound currency to a federally chartered, but PRIVATE, central bank.
I excluded all the special interests and lobbyists for a sound reason. They have no legal authority. They have no ability to coerce a senator, a congressman, or a President to do one cotton-picking thing. I don’t care if they offer a politician $1 million dollars in cash. The politician has the power to accept or reject it. No matter what the lobbyist promises, it is the legislator’s responsibility to determine how he votes.
Those 555 human beings spend much of their energy convincing you that what they did is not their fault. They cooperate in this common con regardless of party.
What separates a politician from a normal human being is an excessive amount of gall. No normal human being would have the gall of a Speaker, who stood up and criticized the President for creating deficits. The President can only propose a budget. He cannot force the Congress to accept it.
The Constitution, which is the supreme law of the land, gives sole responsibility to the House of Representatives for originating and approving appropriations and taxes. WhoWAS the speaker of the House? Nancy Pelosi. She WAS the leader of the majority party. She and fellow House members, not the President, can approve any budget they want. If the President vetoes it, they can pass it over his veto if they agree to. (SCORE ONE FOR THE GOOD GUYS!)
It seems inconceivable to me that a nation of 300 million cannot replace 555 people who stand convicted — by present facts — of incompetence and irresponsibility. I can’t think of a single domestic problem that is not traceable directly to those 555 people. When you fully grasp the plain truth that 555 people exercise the power of the federal government, then it must follow that what exists is what they want to exist.
If the tax code is unfair, it’s because they want it unfair.
If the budget is in the red, it’s because they want it in the red ..
If the Army & Marines are in Iraq and Afghanistan it’s because they want them in Iraq and Afghanistan …
If they do not receive social security but are on an elite retirement plan not available to the people, it’s because they want it that way.
There are no insoluble government problems.
Do not let these 555 people shift the blame to bureaucrats, whom they hire and whose jobs they can abolish; to lobbyists, whose gifts and advice they can reject; to regulators, to whom they give the power to regulate and from whom they can take this power. Above all, do not let them con you into the belief that there exists disembodied mystical forces like “the economy,” “inflation,” or “politics” that prevent them from doing what they take an oath to do.
Those 555 people, and they alone, are responsible.
They, and they alone, have the power..
They, and they alone, should be held accountable by the people who are their bosses.
Provided the voters have the gumption to manage their own employees…
We should vote all of them out of office and clean up their mess!
Be sure to read all the way to the end:
Tax his land,
Tax his bed,
Tax the table,
At which he’s fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his work,
Tax his pay,
He works for peanuts anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his ass.
Tax all he has
Then let him know
That you won’t be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He’s good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he’s laid…
Put these words
Upon his tomb,
Taxes drove me
to my doom…’
When he’s gone,
Do not relax,
Its time to apply
The inheritance tax..
Accounts Receivable Tax
Building Permit Tax
Corporate Income Tax
Dog License Tax
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Marriage License Tax
Personal Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.
Can you spell ‘politicians?’
I hope this goes around THE USA at least 555 times!!! YOU can help it get there!!!
GO AHEAD – – – BE AN AMERICAN!!!
The U.S. Export-Import Bank, an independent agency of the federal government, is now planning a $2.84-billion loan for a massive project to expand and upgrade an oil refinery–in Cartagena, Colombia.U.S.
Yes, more of the same nonsense with Barry leading the way.
President Obama in a speech down in Brazil on March 19th told local businessmen in the nation state that the US is looking forward to being their best customer in buying oil from their offshore drilling. This policy to purchase more foreign oil comes after we invested over $2 Billion with Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro.
After two years of President Obama…
Amid all this, SP is about as informative as the public address announcer on the Titanic. As Euro Pacific Capital CEO Peter Schiff asked on his radio show Monday, “Has SP really added anything to the debate that wasn’t already widely known?”
The answer is no. But the “debate,” if you can call it that, is sliding into demagoguery fast, courtesy of the bully pulpit and the New York Times’ factually-challenged intellectual bully, Paul Krugman.
With fiscal disaster looming, the left’s lies cannot be allowed to win again. There’s just too much at stake. We need Ryan-style reform, and soon.