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Obama may cause American’s economic collapse

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POSTED November 16, 2012 7:47 p.m.

Editor, Manteca Bulletin,

Americans must brace themselves for an economic storm.  Several economists have ensured that President Obama’s economic policies are the ingredients of an economic time bomb ready to explode on the American economy.

During the Obama presidency, the dollar has lost significant value as $2.5 trillion of “quantitative easing”, which is a manipulation of paper money pumped into the economy, was added to our national debt according to Investor’s Business Daily.   The government is following failing economic models of third world countries by printing money and devaluing currencies. As a result, America has lost international purchasing power, while creating high commodity prices and inflation on all essential items including gas, food, and clothing. 

The beginning stages of inflation have already begun, with hyperinflation predicted in 2014 by some economists. 

Arguably, America is already in a depression masked by those shielded by government assistance, including 49 million Americans on food stamps.  One out of three Americans are dependent on some sort of government entitlement with government liabilities growing at an exceptional rate.  The condition of the U.S. economy mirrors the Great Depression with slow economic growth, massive debt, high unemployment and foreclosures.  Yet, it is about to get worse.  As interest rates begin to rise and a stock market crash, home prices will drop significantly once again causing higher unemployment and more Americans dependent on a limited amount of government resources.

Obama has expressed a desire to “tax” the rich to “redistribute wealth” in the philosophy of Karl Marx, the Father of Communism.  Obamacare, which is the largest tax increase in history, will force businesses, buried in taxes and regulations, to flee America, outsource labor, or close all together.  As a result, the work force will shrink causing fewer people to pay taxes while more people will rely on government assistance.  At the same time, our national debt will approach $20 trillion while Social Security, Medicare, and other government entitlements remain unfunded.  Yet, open borders have increased millions here illegally burdening those resources for healthcare, education, corrections, and government services while at the same time, creating competition against struggling Americans who seek employment for their family.

Obama’s  agenda is to destroy global capitalism and collapse the dollar, ultimately hurting all Americans regardless if they are Republican or Democrat or if they are rich, poor, or in the middle class.   At that point, America will no longer be what President Reagan once called that “shining city upon a hill whose beacon light guides freedom-loving people everywhere.”  It will have been washed away in the economic storm.”

 

Frank Aquila

Manteca

Nov. 16, 2012

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