By Bill PorterPINOCCHI"O"BAMA told five lies to pass the unfunded stimulus plan and now with a straight face, he tells us that he wants to deal with the federal deficit! He must think all Americans are total idiots!
And PINOCCHI"O"BAMA is also repeating Richard Nixon's biggest mistake! In the early 1970s, as an economic ploy, President Nixon elected to weaken the U.S. dollar, and thus unwittingly, he ignited rampant inflation. Soon the Arab oil barons realized that the actual buying power of their "oil dollars" had been drastically reduced. In order to recapture their lost purchasing power, they formed OPEC in order to jack up the cost of oil. We all know the rest of that story.
Now, PINOCCHI"O"BAMA is repeating the same mistake! However, this time, it will not only be the oil barons who will be angry that their U.S. dollars are losing their real value (purchasing power). The massive stimulus deficits will cause a hyper "O"FLATION that will also anger every nation that is holding U.S. dollars (i.e., China and Japan, etc.). As a result, in the future they will elect to invest in stronger currencies (i.e., Euro) instead of the devalued $OBAMA BUCKS! [more...]
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