NIA hasn’t written about the whole debt ceiling issue over the past few weeks because in our minds it is completely irrelevant. Our elected representatives in Washington along with the mainstream media have been wasting thousands of hours of time and hundreds of millions of dollars debating a topic that has no meaning at all. The President, Senate, and House of Representatives are putting on a show to make it look like they care about cutting spending and balancing the budget. Except for a select few elected representatives like Ron Paul who care about protecting the U.S. Constitution and preserving what little purchasing power the U.S. dollar still has left, every other politician in Washington is putting on a complete charade in order to trick their constituents into believing there is a difference between the proposals from the Republicans and Democrats.
Don’t be fooled by the nonsense played on television. The media does its fair share of lying just like Obama. Every one of us has experienced the not-so-subtle increase in inflation. Our money just doesn’t buy what it used to and as time marches on it will buy even less. There was never any recovery like we were told so many times. No, our great nation will now enter into a new phase of economic peril. The unavoidable consequences produced by a government hell-bent on ignoring economic laws.
The above article goes into a lot of detail regarding how things are going to hell. I possess no economic credentials apart from my basic understanding of math and knowing what actions turns black ink into red. Simply put, the latest government deal was a farce in every sense of the word. The market’s reaction turns out to be only one symptom of the trouble that awaits all of us. The government simply cannot borrow it’s way out of obligations and hope to prosper. More red ink does not turn black.
Republicans kept tax increases off the bill, but we are experiencing a tax increase nonetheless. Because of government improvidence, we will suffer devaluation of the dollar. Hyperinflation will be one of many of Obama’s legacies. What will be interesting to see is whether there’ll be enough stupid Americans to give this fool of fools another four years. So in the mean time, don’t expect government to do anything except make the problems even worse.