All of a sudden the Sun God’s chariot is losing its wheels. The gulf is a mess, and the president’s proclamation to “Stop the damn leak” is ridiculed. His decree to “Suspend offshore drilling for six months,” thus throwing thousands out of work has been challenged by a federal judge, who says it’s “capricious.”
The president’s own general in Afghanistan has been called back to Washington for a lecture on etiquette — or perhaps firing. If the latter, Obama faces the likelihood of losing the entire war as the result of his inexperience and thin skin. Now that would be the single most harmful and inexcusable outcome in American military history — letting the president’s personal vanity cause us to lose a war!
Don’t compare this to the Truman, MacArthur situation, either. Truman fired MacArthur for publicly wanting to use nukes and invade China. And I’m sure MacArthur had a lot more pointed things to say about Truman, than McCrystal said about Obama. So the acolytes can’t say this elevates His Assness to the (low) status of a Truman.
The Sun God’s advisors apparently think that the crisis in the Gulf of Mexico is a good omen for the introduction of $7 to $10 per gallon gasoline, skyrocketing utility bills, and massive new taxes — to finance subsidies for wind mills and solar panels. All this because of what? Global warming? American guilt for being successful?
The U.S. dollar is on the brink of massive inflation. Governments at all levels (federal, state and local) are committed to more obligations than they can ever hope to pay back ($130 Trillion, anyone?), and an otherwise weak economy, the Sun God seems to think he can recklessly spend us out of the mess with one more dose of stimulus and ass kicking.
As if this all was not enough, he decides to sue Arizona for enforcing a federal immigration law while drug gangs sweep into Southern Arizona’s border regions.
The guy is either certifiably crazy, stupid, or completely immature and out of his depth. I’d vote for the latter diagnosis with a dose of the former for spice.
2011 is going to be the year of comeuppance for the Sun God and his minions, and a year of disaster for the U.S.A. Although Republicans will probably gain control of at least one house of congress, taxes will be drastically raised, causing the economy to dramatically tank. The U.S. Treasury will see its bonds downgraded and will be unable to continue financing the deficit, much less the national debt. The printing presses will be cranked up and hyper-inflation will ensue. The Chinese will be pissed, but we’ve got them over a barrel if they don’t provoke a war. In either case, pissed or at war, it will be obvious how dumb it has been to move our manufacturing to China. If we’re lucky we won’t see a tyrannical government taking the crash and crisis as an excuse to impose a dictatorship. I said lucky, not smart.
What to do about it? As for me, I’m working feverishly to assemble an inflation survival kit by investing everything I can into assets that have intrinsic value, such as precious metals, mineral mining, oil, natural gas, forest products, etc. When the economy really tanks, the stock market will do the same, but in a hyper-inflation scenario ownership of interest in actual physical assets is expected to be a good hedge. Unless, of course, the government suspends all property rights, which it could and might do.
The financial sector, and anything dependent upon China will be demolished. They’ll all lose their proverbial shirts because their notes and bonds will be worthless. But they can start again from scratch, because it’s all paper and confidence that makes it work. No heavy lifting required. Geithner, Bernanke, Paulson and their ilk will con their way back into finance like cockroaches returning after a nuclear blast.
Then, in 10 to 20 years, the American spirit will kick back in and the U.S.A. will revive itself.
And the Sun God will be remembered as the miserable mistake he is.