Russian leader accuses U.S. of abandoning capitalism!
EU leaders says we are headed down “the road to hell.”
China loses faith in our dollar.
Obama tells jokes on Tonight Show and picks March Madness.
By Wayne Allyn Root, 2008 Libertarian Vice Presidential nominee
Obama has WMD's – Weapons of Mass Distraction. Haven't you noticed? He appears on the Tonight Show with Jay Leno (the first appearance by a sitting President in the history of the American Presidency). He tells jokes (some of them offensive) so that he can seem like just “one of the guys.” He conducts Town Hall meetings so we believe that he cares about us- average, regular Americans. Of course he forgets to tell you is that while any “regular Joe” can indeed submit a Town Hall question, Obama only picks the ones that he wants to answer. And each of the questioners appears to be a handpicked Democratic operative and loyal Obama supporter. He picks his own March Madness bracket winners (just like a “regular guy” down at the bar or union hall). He instructs his buddies in the Democratic Congress to conduct hearings about the need for a BCS College Football national championship game. All of these distractions dominate the headlines while the economy melts down, banks fail, and the never-ending trillion dollar bailouts dig a deeper and deeper hole.
Most importantly, Obama and his cabinet distract your attention by incessantly demonizing and scapegoating corporate executives at companies like AIG, creating a boogieman for the average American to hate. It's “us against them”- and Obama positions himself as one of us. His perfectly chosen rhetoric fires up the masses into a frenzy of hate. Obama creates a mob mentality so the average blue-collar American has someone to burn at the stake for our impending economic Armageddon.
And when the economic news gets even worse, what is Obama's answer? Change the topic. Make the distraction even louder. Take a trip overseas to address adoring crowds; conduct Town Hall meetings in France and Turkey; and make a visit to Iraq where our troops hug and kiss him. These are Obama's Weapons of Mass Distraction. It's all meant to distract you from seeing what's really happening (and what's really important).
Distraction is President Obama's greatest weapon against the truth. You see Obama can't afford to allow the average American to see what's really happening. Obama's economic plans are so dangerous and deadly to our future that socialist France is warning us that our spending is suicidal; The President of the European Union is scolding us; Russia's Vladimir Putin recently criticized America for abandoning the free markets; and China is suggesting a new world reserve currency. Get the hint? When Russia is lecturing us that we've abandoned capitalism, America is surely in deep trouble. When Europeans are lecturing us that Obama's out-of-control spending plans are leading us down “the road to hell” (an exact quote), we are surely headed for insolvency. When China, who owns almost $2 trillion U.S. dollars, is suggesting a new world currency, it's a subtle hint that the Chinese realize that our dollar is headed for record lows as Obama prints unlimited dollars to pay for his reckless deficit spending. The writing is on the wall- but only if you listen to what smart people the world over are saying. Only if you ignore the adoring overflow crowds. Only if you ignore Obama's WMD's.
So what are the leaders of France, the EU, China and Russia clearly seeing that we aren't? The real storyline is frightening. Obama is destroying capitalism; orchestrating a government takeover of free enterprise; redistributing wealth from those that pay the taxes and create jobs to those that produce little or nothing and expect handouts from government from cradle to grave; expanding the baseline spending of government to unsustainable levels; hiring millions of new government employees and giving them guaranteed jobs and bloated salaries, pensions and health care for life- all in the name of electing and re-electing liberal Democratic politicians; building up so much debt and printing so much money that your life savings are eroding away to nothing, while your children and grandchildren will end up enslaved to big government for the rest of their lives and condemned to an inferior standard of living. Worst of all, virtually every “solution” Obama plans to save our economy is unconstitutional. But that's just a small, inconvenient detail for a man that knows how to use Weapons of Mass Distraction.
Obama's favorite little trick is to ask the American people for “sacrifice”- making us all feel guilty by tying sacrifice to patriotism. But Obama's voters (the poor, entitlement junkies, union members, government employees) aren't asked to sacrifice a thing. As a matter of fact, Obama is handing out record amounts of government money to them. Obama is perfectly willing to bankrupt America for generations to come and wipe out small business owners with high taxes in order to keep his voters happy, bribed and distracted. And while they are distracted, Obama will pass Cap and Trade legislation that will triple electric bills and raise gasoline back to $4.00 per gallon or higher, all the while making his biggest contributors, who have invested in green technology and politically correct companies, a once-in-a-lifetime windfall. Once the reality hits, and consumers start to notice their utility and gas bills have doubled and tripled, Obama will then shift the blame to greedy capitalists and corporate executives. The script has already been written, all Obama has to do is keep reading it.
All of this is being orchestrated by Obama's hand-picked team- the most arrogant and corrupt bunch of criminals and tax cheats ever seen in Washington D.C. (and that's really saying something). Those are the things he doesn't want you to see. So he distracts you with his WMD magic act. Obama can't afford to let you figure out that his friends in government not only caused this entire economic crisis, they actually benefited from it, so he has thrown up a smokescreen blaming Wall Street and “greedy corporate executives.” Obama forgets to mention that it was liberal Democrat politicians under Clinton who pushed for the Community Reinvestment Act, a law that forced banks to make loans to people who couldn't afford them. Obama forgets to mention that his organization ACORN carried out the scheme to perfection by intimidating and suing bankers who didn't cooperate by loaning billions of dollars to minority and low income Americans. He forgets to mention that it was liberal Democratic politicians like Senator Chris Dodd and Congressman Barney Frank who oversaw the very companies and programs that led to this economic crisis – despite the most glaring conflicts of interest imaginable.
Congressman Barney Frank was DATING a Fannie Mae executive who ran the program that helped to bankrupt the company (and the country). Chris Dodd is even worse because his own wife worked for AIG and got big, fat checks from them, all while Chris was getting sweetheart mortgage deals from Countrywide. Meanwhile, both Frank and Dodd were getting huge campaign contributions from the very firms and industries they were overseeing on behalf of the American people. Somehow, like Sgt. Schultz on “Hogan's Heroes,” they both saw nothing. Worse, they both defended and protected AIG and Fannie Mae/Freddie Mac from further regulation and increased oversight. They should both be in prison.
But it gets worse. Obama's Chief of Staff Rahm Emanuel was on the Board of Directors of Freddie Mac during the scandal and made $325,000 in one year. Obama's chief economic advisor Lawrence Summers made almost $3 million in speaking and consulting fees from Wall Street companies that received billions in bailout funds. Obama's chief economic advisor during his Presidential campaign was Franklin Raines, the CEO of Fannie Mae. Obama himself was the third-highest recipient of campaign contributions from Fannie Mae in the past 20 years (and he was only in the Senate since 2004). Are you starting to smell the rotting fish? Are you starting to understand why Obama must distract you from the real storyline? Are you starting to understand why Obama is so desperate to get you to hate the executives at these corporations? If he doesn't get you to blame the greedy, rich executives, you might notice who's really to blame.
If Obama doesn't distract you, you might notice a new FBI report that shows how corrupt government is. The FBI conducted an undercover investigation and found that thousands of government employees across the USA are corrupt and guilty of criminal activities. What a surprise. But if you noticed that, you might question why Obama wants to hire millions of new government employees and transform the U.S. economy from a private sector success where 75% of all new jobs are created by small business, to a stagnant, socialist, public sector economy where everything revolves around government.
Without the distractions, you might notice Obama's new laws (many unconstitutional) that give amazing new powers to government- allowing him and his cronies to run American business, decide what executives are hired and fired, and what salaries are “reasonable” or “allowed.” You might notice that we are putting our entire economy in the hands of government employees- people that often either failed in the private sector, or couldn't get a job in the private sector. You might notice that Obama and his government cronies have never started or run a successful business, and never created a job. You might notice that we are letting corrupt government bureaucrats give orders and make all the decisions for business- something that has never worked anywhere, at any time, in world history (see Cuba, the former Soviet Union, Latin America).
Obama couldn't allow you to notice those things, could he? So he trots out the circus: he puts on the big smile, tells jokes on the Tonight Show, jokes about pot during Town Hall meetings, and publicly offers his March Madness picks. The Obama publicity machine makes sure his wife Michelle's designer wardrobe is the main topic on the cover of People and Us. And here's the oldest trick in the book- they find a rich greedy Wall Street executive to scapegoat. Anything to make sure that the public is not focused on Chris Dodd, or Barney Frank, or Rahm Emanuel, or clueless Treasury Secretary Tim Geithner, or Larry Summers, or the massive bailouts, who got them, how much they got, and who got them because of campaign contributions to Obama. Weapons of Mass Distraction are the only way to go.
Now to the topic of taxes. Obama wants to raise them considerably- but only on “the rich.” What he doesn't want you to see is that he and his rich connected friends don't pay those taxes. Tim Geithner cheated on his taxes- yet Obama made him Treasury Secretary. How did he get confirmed? WMD. Obama distracted Congress by scaring the American people. He frightened us all by claiming that the entire American economy hung in the balance if Geithner wasn't confirmed. Obama forgot to mention that Geithner was in charge of the New York Federal Reserve when all of this happened in the first place. He was THE oversight guy in government when Wall Street was about to explode; yet somehow he never noticed a thing. Now Obama says we can't survive without him. Geithner has to save us from the very thing he let happen (and never saw coming). Confusing, isn't it?
But let's not single out poor Tim Geithner. It seems that half of Obama's cabinet picks didn't pay their taxes. Tom Daschle, Hilda Solis, Ron Kirk, Nancy Killefer. Gosh, if Obama keeps appointing tax cheats, we might find enough money to close our massive budget deficit.
Don't forget New Mexico Governor Bill Richardson. He was supposed to serve as Commerce Secretary. He didn't cheat on his taxes; he's just under a garden-variety political fraud investigation. Then there's Charles Rangel, the leading Democrat in Congress who decides tax policy for the good 'ole USA- it turns out he cheated on his taxes and Congressional disclosure forms. If you or I did that we'd be in jail. Not Rangel. He still heads the powerful Ways and Means Committee, where he is in charge of raising taxes on the rest of us. It's pretty obvious why Obama must distract us from all of this. Without the distractions and smiling and jokes and Town Hall meetings, and March Madness picks, the American public might wake up and realize that our government is run by a group of thieves, frauds, and tax cheats, only in enriching themselves. Without the distractions, the mob might be standing outside the White House with pitchforks right about now.
Without Obama's weapons of mass distraction, Americans might notice that our deficit is 4 times higher than in the worst year under Bush; that our national debt will triple under Obama (by his own projections); that our first Obama budget is bigger than all other budgets in U.S. history COMBINED from George Washington to George W. Bush. Without all these distractions, Americans might notice that our estimated national debt of $10 trillion does not include $10 trillion in bailouts- much of which we'll never get back. They might notice that the out-of-control Federal Reserve refuses to disclose where all this taxpayer money went. Without all these distractions, Americans might notice that our estimated national debt of $10 trillion does not include as much as $52 trillion in unfunded liabilities for Social Security and Medicare (“unfunded” means we have no idea where we're getting the money to pay the bills).
Without the distractions, the public might notice that our government is bankrupt and printing money at a record pace, surely leading soon to the kind of massive inflation usually only seen in a banana republic. Without distractions, the American public might notice that we are on the way (economically) to becoming Zimbabwe (the Big 3 factors that characterize Zimbabwe are out of control spending, massive inflation, and corrupt government).
But here's the most important thing that Obama must distract Americans from noticing- as my good friend and economic advisor Kip Herraige points out: our largest bank Citibank is now for all intensive purposes insolvent, owned by taxpayers, and controlled by the government; the same is true for at least 2 of our 3 largest automakers (if not soon to be all 3); the same is true for our largest mortgage companies Fannie Mae and Freddie Mac; the same is true for our largest insurance company AIG. All of this was unimaginable only months ago. Smart people can only imagine where it will all lead. Russia knows. China knows. France knows. The head of the EU knows. They all see the writing on the wall. Hint: the story does not end well.
Obama cannot afford to have you notice that our economy is in ruins; our government spending is unsustainable and leading us (as our European friends say) “down the road to hell.” Obama cannot afford for you to notice that both his GDP (revenue) and tax projections are better described as “fairy tales” than credible projections, therefore leading to budget deficits and national debt levels far higher than he has projected. This will lead our country down the road to the unthinkable: DEFAULT. That's what the EU leader meant by “the road to hell.”
Obama can't afford for you to notice that we have over $5 trillion of unfunded liabilities for federal government employees (and even more for state and local government employees); yet his solution to “save” the economy is to hire millions of new government employees. Obama can't afford for you to notice that his friends helped cause this crisis; or that his friends benefited from this crisis; or that his bailouts lack transparency or accountability (we don't know where the money is going, or if it will ever end).
Obama can't afford for you to know that it's going to get much worse, simply because the federal government screws up EVERYTHING it touches, and he's now put the federal government in charge of Wall Street and the biggest companies in America. Obama only knows one way to run things- put big unions and big government in charge. Someone should point out to him that experiment has already been done- it is called France. The experiment didn't work out too well. While the French (and EU) economy was stagnant for the past 25 years, American free market capitalism has created unimaginable wealth and 40 million new jobs.
Meanwhile teacher unions have destroyed our public school system, wasting billions of dollars, and producing horrific results (only to demand more money without fixing the underlying problems)…while auto unions have destroyed the U.S. auto industry, the city of Detroit, and the state of Michigan in one foul swoop. It is an understatement to report that the union experiment did not work out quite as well (in either America or France) as capitalism. This is the future Obama has planned for all of us, as he puts government bureaucrats, lawyers, and unions in charge of the American economy. Obama's plan will turn America into one big Detroit. God help us all.
My advice to investors: Don't be fooled by Obama's WMD's. Look for the Dow in the range of 3000 to 4000. Look for record-setting inflation by 2011. Look for gold in the range of $2000 or higher. And buy gold bullion and gold coins- by the barrel.
But let's look at the bright side: it certainly will be amusing when the day comes that Putin calls Obama a communist. That day is coming soon.
Wayne Allyn Root was the 2008 Libertarian Vice Presidential candidate. His new book will be released by John Wiley & Sons this Spring entitled, “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gambling & Tax Cuts.” The book is available for pre-sale at Amazon.com. For more of Wayne's views, commentaries, or to watch his many media interviews, please visit his web site at: www.ROOTforAmerica.com