Say Goodbye To Middle Class America
By: Guest Authors
By Glen Goodrum
I have said time after time “the liberals and socialist are out to take over America”. I was just wrong on how they were going about doing it. I thought that they were trying to bankrupt America using what happened to The Soviet Union as a guide line. I thought that the reason the National debt was driven so high was to eventually bankrupt America. I thought they went off the Gold standard so they could do that,but I had over looked what was right under my nose. As I studied the economic news lately it became clear just what they had really been up to. The Federal Reserve must be ran by a bunch of liberals and socialist . It’s the only way to explain what they are doing.
The Federal Reserve is dropping interest rates to all most to zero. They are also using a unproven approach called “quantitative easing” that injects money into the economy rather than using interest rates. You should note that lowering interest rates did not work so why should we believe that “quantitative easing” will work. Using “quantitative easing” Washington has printed more than $1 trillion in new money” that what they are call printing more money ” since September and put it into the failing economy with no effect at stopping it. As a result, the federal balance sheet has risen from about $9 billion to just over $2 trillion . But they are only now telling us that they are fixing to use “quantitative easing” .
The Japanese central Bank used “quantitative easing” for years . The results were not good, prices dropped,wages dropped and it took all most a decade to over come it.
What a bout paying the National Debt? Since most of it is in T Bonds they can just print more money to pay it off as it comes due and I was worried that they would just raise taxes to pay it off.
Don’t you wish we could print our own money to spend like the Government does? Why is it all right for them to do it and not us?
Every time new money or more money is made and used it lowers the value of the dollar. That means your money buys less and less and our goods sale for less over seas. How is this good for the economy?
President-elect Obama economic recovery plan has big public works projects also tax cuts to spur consumer spending and help businesses to increase investments and hiring. It does nothing to help the real economic problems.
Is there a plan to eradicate the middle class? I think so. In socialist countries there are only two classes of people upper and lower. For the United States to become socialist the middle class must be done away with and that must be done by economic means. Isn’t that going to be the result of what our Government is doing? We are in real trouble and our Government is the cause of it.
President-elect Barack Obama is advocating an economic recovery plan that includes spending on big public works projects to bolster jobs. His plan also includes tax cuts to spur consumers to spend more and businesses to step up investment and hiring.then