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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: zeta1961 who wrote (123220)	10/9/2012 8:58:09 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Hi Zeta, it's a lot to summarize, but it really boils down to my understanding of economics. I have a pretty deep background in the subject and am of the school of Austrian economics. I also am a student of history, monetary history in particular. What I believe with all my logic, based on my understanding of history and economics, is that the greatest threat this country faces is currency debasement. I wouldn't even be too worried about it, if it was done on a small scale. I'd be against that, but wouldn't worry too much. However, Bernanke has already engaged in a massive devaluation and he is now engaged in money printing to infinity and beyond. I believe he has already begun the process that leads step by step to a terrible high probability outcome. That outcome doesn't necessarily have to lead to hyper-inflation as has happened with EVERY country in history that has taken the path we're on. Even if it doesn't lead there, the world has already been torn apart by the results. We are actively exporting inflation to other countries with this beggar thy neighbor policy. It is not a coincidence that there are wars and rumors of wars everywhere around us. People who spend 75% of their income on food get very angry when the US exports inflation to them and they go hungry. Then here in the US, these policies are killing the savers in this country and the 99%, while simultaneously enriching the top 1%. It's unconscionable. Bernanke is a Keynesian economist. All he knows how to do is to print money in response to Congressional dereliction of duty. None of us on this thread think Congress will ever get its act together. If Obama is elected, he will reappoint Bernanke on Jan 31 2014, which means Bernanke will continue to print money at least through the end of another 4 year term, which takes us to Jan 31, 2018. Long before then, we will see, at a minimum 1970's style inflation, if not a total loss of confidence in our currency. Also, it is a high probability we will see the US lose its currency reserve status, which will have a profound detrimental impact on the standard of living in this country. Quite simply, I have concluded that Bernanke must go. The sooner, the better. He is literally the most dangerous person alive, who has the most power to destroy the lives and finances of tens of millions, if not hundreds of millions of people. He wields that power with the utter certainty that he alone is correct. It is Central Economic Planning, which is not what this country has been about. So where does that lead me in terms of my vote. Obama will definitely re-appoint Bernanke, and if Bernanke doesn't want the appointment, Obama will appoint another Keynesian, money printer. Romney doesn't believe in money printing and has vowed to not re-appoint Bernanke. So faced with 100% certainty under Obama that we'll get money printing ad infinitum and the certain knowledge that this will ruin the lives of hundreds of millions of people...or given that there is a decent chance that Romney will get rid of Bernanke and replace him with someone who will focus more on monetary stability, it makes my choice very simple indeed. I must vote for Romney, because my top issue is the economy and my top priority is seeing Bernanke removed from his Chairman position. I hope that explains why I won't be voting for Obama again. It does not mean I don't like a lot of what Obama has done for this country. As I've stated in other posts, I like what he's done from a foreign policy, war, and renewable energy perspective. I'm also a social liberal and I like that he has made the lives of minorities and women just a bit easier. But I really don't like his administration's implementation of Keynesian policies and his support for a Keynesian Fed Chairman. That's about it. Do you think I'm crazy? :) P.S. Thx for the kinds words.

To: zeta1961 who wrote (123220)	10/10/2012 8:57:49 AM
From: manalagi	1 Recommendation Respond to of 149317

I don't know how many people are suffering from this election uncertainty syndrome. Neighbors are not talking to neighbors, brothers and sisters have opposing views, friends becoming adversaries, hate emails abound, and anxiety is on the rise, a President who does not know how to debate and became a wimp facing a bully in front of an impotent moderator, and a challenger who lies and lies just to get to the WH and if he does, he will be controlled by the president of his church. Nov 6 cannot come soon enough.