Tuesday, April 21, 2009

Best Comment of the Day

"I posted this yesterday. It's worth posting again. The stock market is toast and Obama is engineering a freight train towards national bankruptcy and the demise of the dollar. The outcome was never more certain.

"A warning to the credulous who think this economy has bottomed or is near it.

"1. No nation ever advanced its real economy by creating more units of paper money. Real wealth can only be created by savings and production.

"2. No nation ever advanced its real economy by holding interest rates below their natural market rate. In every case, it launches a credit expansion that continues until the level of debt becomes unsustainable. Then it crashes. In essence, it's one massive Ponzi Scheme.

"3. No nation ever advanced its real economy by deficit spending. Eventually, the debts become unmanageable. That's the path Obama is careening towards.

"4. The GDP is at $14 Trillion and and bonded debt, $11 Trillion. A 1:1 ratio brings the US in line with third world nations.

"5. From the time the Federal Reserve was created in 1913, the cost of gold went from $20 to $900, a 98% depreciation. 2% to go before the dollar is worthless.

"Sorry Obamamaniacs. Jesus hasn't returned in the form of Obama to save you. You're on your own."