President Obama promisses federal support for rebuilding hurricane destructed areas in America. (741)
Can you get this gun clingers of planet OZ?
Hot_Single_Dude: Another most Republican of the real Republican party of America after Stupid Sarah Palin:
This boso should run for Republicans for sure... Koch is going to fund I guarantee
This boso should run for Republicans for sure... Koch is going to fund I guarantee
Gud bless the "Drudge" He da Man!
Fair and balanced!
PS: Mrs Weenie fully supports her husband. This verifies that she's another stupid democrat...just like the hubby.
Hot_Single_Dude: Can you get this gun clingers of planet OZ?
Madcow?
Economic Humor
These jokes about the current economy recently showed up in my Inbox.
As bad as the economy is getting, laughter at least is still free. icon smile Economic Humor
The economy is so bad that I got a pre-declined credit card in the mail.
The economy is so bad that when I ordered a burger at McDonald’s, the kid behind the counter asked, “Can you afford fries with that?”
The economy is so bad that CEO’s are now playing miniature golf.
The economy is so bad, if the bank returns your check marked “insufficient funds, you call them and ask if they meant you or them.
The economy is so bad, Hot Wheels and Matchbox stocks are trading higher than GM and Chrysler.
The economy is so bad, parents in Beverly Hills have fired their nannies and learned their children’s names.
The economy is so bad, a truckload of Americans were caught sneaking into Mexico.
The economy is so bad, people in Africa are sending money to America.
The economy is so bad, Motel Six won’t leave the light on anymore.
The economy is so bad, Exxon-Mobil laid off 25 senators.
What about you? Got any good jokes about the bad economy?
-- Arnold Vintner
Thanks Obamby
Big finds of oil.... hah repubheads?
Got Yah! Crooks and liers as freaking usual
Got Yah! Crooks and liers as freaking usual
Hot_Single_Dude: Can you get this gun clingers of planet OZ?
Of course, if you seal the border, it won't be a problem. Obummer can't do that...he needs all the illegal votes he can get.
Hot_Single_Dude: Of course Freddy... Fair and balanced ... keep staying honest and open ur soul
Thank you!
The Drudge Report has so many good articles:
Rapper calls Obama a terrorist.
Weenie's wife to stick w/him.
(It goes on and on)
Causes of the Great Depression
When we think of the Great Depression, it is so easy to think that business caused it and the government corrected it. However, the truth about the Great Depression is that it was the government that allowed it to continue for much longer than it needed. Because of policies enacted by President Hoover and then Roosevelt’s New Deal policies, the Great Depression, which should have only lasted for a couple of years, lasted for far longer. The big question is: what individual policies caused it?
Monetary Contraction
Because of a one-third drop in the money supply from 1929 to 1933 and then bank failures in the early 1930s, many people suddenly were afraid of an economic crisis. That drop in the money supply was caused because of an error by the Federal Reserve. The bank failures, though, was caused because of a bank’s inability to diversify their portfolio and branch out.
Tax Hikes
During the 1920s—otherwise known as the Roaring 20s—we had an economic boom. But, what people don’t notice is that there were also incredibly low income taxes. The income tax dropped from 73 to 25 percent. In 1932, President Hoover signed the Revenue Act of 1932. This was a massive increase of the income tax from 25 to 68 percent. When money is taken out of the hands of the consumer, they are unable to buy goods which means that businesses don’t get revenue.
When Roosevelt entered office, he increased the individual and corporate tax even more. The highest rate reached up to 79 percent. Add on the fact that states were suddenly starting to add an income tax as well and suddenly, the incentive to work and invest died away. When entrepreneurism was so desperately needed, there was no money to invest in the economy of the country.
Trade Restrictions
As trading became easier and ships became more powerful around the world, the United States began to increase the amount of trade they sent overseas. In an effort to promote American goods being sold in America, Hoover signed the Smoot-Hawley trade law. This raised the import tax up to 59 percent. When this happened, the governments of other countries raised the import tax on goods that came from America. In other words, we lost out on a huge business because we became too protective.
High Prices
The National Industrial Recovery Act of 1933 created codes that were meant to reduce competition between businesses. Specifically, it was a law that told businesses to cut output and keep prices and wages high. Any businesses person that tried to lower prices was fined, harassed and sometimes even arrested. This was meant to keep big business strong.
The next thing that they did was create the Agricultural Adjustment Act of 1933. This meant that extra crops were destroyed to ensure that the prices didn’t plummet. While people starved, food was destroyed. Welcome to America.
Employment Costs High
Many New Deal policies made it even more expensive to hire employees. The NIRA codes required high wages. Businesses had to keep high wages on employees and that meant that they were unable to hire more employees. As businesses were unable to make enough revenue because there were not enough people working to make money, they were forced to keep wages high. That did nothing but further perpetuate the problem.
Conclusion
It is so easy to think that government is the save all when it comes to the economy. By creating “jobs” and creating public works programs, President Roosevelt got us out of the Depression. At least, that’s what we’re taught in school. The truth is so far from that myth. In actuality, the policies of Presidents Hoover and Roosevelt allowed a simple recession to turn into the Great Depression.
When the government tries to do what business is best at, things only get worse for the economy. Yeah, it made sense politically. Yes, people “felt” good because there was this mysterious Social Security Act. But, the problem was, this did nothing for the economy. It just made things worse for the country. When a recession hits—such as the one we’re trying to recover from—it is important that government intervention can only perpetuate a recession. If we want to get out of it, let the businesses and let entrepreneurs take control.
-- JCD
It is so easy to think that government is the save all when it comes to the economy. By creating “jobs” and creating public works programs, President Roosevelt got us out of the Depression. At least, that’s what we’re taught in school. The truth is so far from that myth. In actuality, the policies of Presidents Hoover and Roosevelt allowed a simple recession to turn into the Great Depression.
When the government tries to do what business is best at, things only get worse for the economy. Yeah, it made sense politically. Yes, people “felt” good because there was this mysterious Social Security Act. But, the problem was, this did nothing for the economy. It just made things worse for the country. When a recession hits—such as the one we’re trying to recover from—it is important that government intervention can only perpetuate a recession. If we want to get out of it, let the businesses and let entrepreneurs take control.
-- JCD
Another crook flipflopper of the GOP:
Bad Boys Bad Boys what you gonna do?
YES WE CAN!
YES WE CAN!
Another STUPID republican candidate:
And one of THEM Katt really beleives even Like her
And one of THEM Katt really beleives even Like her
Come on... Study this and do not claim no body warned you:
Still a blind naiv boso eating shi* served by the Damn GOP and beleive is honey?
Get the head out of the bloody mudd
Still a blind naiv boso eating shi* served by the Damn GOP and beleive is honey?
Get the head out of the bloody mudd
Obama Administration Promotes Use of Child Soldiers
In 2008, President Bush signed the Child Soldiers Prevention Act into law. This law provides protection for children across the globe by preventing the United States government from providing military aid to nations which utilize child soldiers.
Barack Obama has chosen to evade the 2008 law. Obama has effectively placed his own administration above the law in allowing military aid to Chad, the Democratic Republic of the Congo, Sudan and Yemen.
Jo Becker, the Children’s Rights Advocacy Director for Human Rights Watch, writes “Americans don’t want their tax money used to put weapons into the hands of children. Cutting off US military assistance to countries using child soldiers should make their governments think twice about exploiting children for warfare.”
The six nations currently identified as using child soldiers are Burma, Chad, the Democratic Republic of the Congo, Somalia, Sudan, and Yemen. The U.S. does not provide military aid to the brutal dictatorship currently ruling Burma. This means that, out of five nations which should not receive military aid from the United States taxpayers, the Obama administration has unilaterally decided to grant four wavers. Only Somalia is being sanctioned for the use of child soldiers — and the government of Somalia is fighting a losing war against Islamist insurgents who are allied with Al Qaeda.
So where does that leave the United States? Do we support the use of children in war or do we oppose it? Is training child soldiers in Africa a legitimate use of U.S. taxpayer funds? Do we prefer to put a barely trained 10yr old African child on the front lines, or a well trained 18yr old American Marine? More importantly, do we live under the rule of law or under the rule of men? Why do we bother having laws at all if we allow presidents to simply make up the rules for their own convenience?
-- Joe Rock
Hot_Single_Dude: Gosh Conrad! You are really this Stupid? Wow! So old and so freaking back ward... poor fellow
I didn't complain about those nastylooking things! 
Obama Administration Promotes Use of Child Soldiers
In 2008, President Bush signed the Child Soldiers Prevention Act into law. This law provides protection for children across the globe by preventing the United States government from providing military aid to nations which utilize child soldiers.
Barack Obama has chosen to evade the 2008 law. Obama has effectively placed his own administration above the law in allowing military aid to Chad, the Democratic Republic of the Congo, Sudan and Yemen.
Jo Becker, the Children’s Rights Advocacy Director for Human Rights Watch, writes “Americans don’t want their tax money used to put weapons into the hands of children. Cutting off US military assistance to countries using child soldiers should make their governments think twice about exploiting children for warfare.”
The six nations currently identified as using child soldiers are Burma, Chad, the Democratic Republic of the Congo, Somalia, Sudan, and Yemen. The U.S. does not provide military aid to the brutal dictatorship currently ruling Burma. This means that, out of five nations which should not receive military aid from the United States taxpayers, the Obama administration has unilaterally decided to grant four wavers. Only Somalia is being sanctioned for the use of child soldiers — and the government of Somalia is fighting a losing war against Islamist insurgents who are allied with Al Qaeda.
So where does that leave the United States? Do we support the use of children in war or do we oppose it? Is training child soldiers in Africa a legitimate use of U.S. taxpayer funds? Do we prefer to put a barely trained 10yr old African child on the front lines, or a well trained 18yr old American Marine? More importantly, do we live under the rule of law or under the rule of men? Why do we bother having laws at all if we allow presidents to simply make up the rules for their own convenience?
-- Joe Rock
In 2008, President Bush signed the Child Soldiers Prevention Act into law. This law provides protection for children across the globe by preventing the United States government from providing military aid to nations which utilize child soldiers.
Barack Obama has chosen to evade the 2008 law. Obama has effectively placed his own administration above the law in allowing military aid to Chad, the Democratic Republic of the Congo, Sudan and Yemen.
Jo Becker, the Children’s Rights Advocacy Director for Human Rights Watch, writes “Americans don’t want their tax money used to put weapons into the hands of children. Cutting off US military assistance to countries using child soldiers should make their governments think twice about exploiting children for warfare.”
The six nations currently identified as using child soldiers are Burma, Chad, the Democratic Republic of the Congo, Somalia, Sudan, and Yemen. The U.S. does not provide military aid to the brutal dictatorship currently ruling Burma. This means that, out of five nations which should not receive military aid from the United States taxpayers, the Obama administration has unilaterally decided to grant four wavers. Only Somalia is being sanctioned for the use of child soldiers — and the government of Somalia is fighting a losing war against Islamist insurgents who are allied with Al Qaeda.
So where does that leave the United States? Do we support the use of children in war or do we oppose it? Is training child soldiers in Africa a legitimate use of U.S. taxpayer funds? Do we prefer to put a barely trained 10yr old African child on the front lines, or a well trained 18yr old American Marine? More importantly, do we live under the rule of law or under the rule of men? Why do we bother having laws at all if we allow presidents to simply make up the rules for their own convenience?
-- Joe Rock
Hot_Single_Dude: Gosh Conrad! You are really this Stupid? Wow! So old and so freaking back ward... poor fellow
Ought to be OUTLAWED!
Production of Solarcells creates extreme Pollution!
Hope you can sleep well under your Solar-Electricity heated Blankie!
Conrad73: http://www.newjerseynewsroom.com/science-updates/bergen-county-towns-object-to-pseags-ugly-solar-panel-utility-poleshttp://www.electricitysuppliers.com/210/solar-panels-banned-in-san-antonio-texas-town-neighborhood/Ought to be OUTLAWED!Production of Solarcells creates extreme Pollution!http://www.enn.com/pollution/article/32974Hope you can sleep well under your Solar-Electricity heated Blankie!
What is ur kind of solution then Conrad?
There is no way around! Oil is not for ever and nucler energy is rather dangerous.
You can not possibly beleive that all those scientists are wrong a handful of corrupted so called scientists are right when denying global warming and it,s horrible results which are sen all over the planet more than ever before.
Even a Libertarian should think once in a while because this planet is so one of kind and so volunarable and we got to help each other saving it from furter destruction rather than denying every thing and any thing which can possibly costing more money or forcing us all paying more of our earnings for the sake of solidarity.
You hate Gore, You hate Obama, you hate Krugmann, you hate UN, you hate Unicef, you hate amnesty, you hate universal health care, you hate unions... you hate any body and every body who is trying to do some thing for the sake of all humanity and denying what ever scientifichal studies but where would you be with out all this science and tecnology any way Conrad?
What have you or your group of deniers and whinners have EVEr done for this planet any way? A bunch of deniers and benefit seekers with no care for life and for taking care of the balance of natur are definately nOT the best one,s to admire what so ever. Just imagine your own damn freaking pension is there because some others made it possible for you having a life and the whole thing you got is definately NOT just because of ur own personal acheivments and the society have heleped you being there where you are.
Even ur own country ot a universal health care coverage and I bet no STUPID voting agaisnt it can ever deleting this great luck for your countrymen no matter how hard your hard neck STUPID right wingers over there trying and swiss is pretty green and the environment is pretty good thanks to enviromentalists and absolutely hard govermental regulations and DEFINATELY not guys like you I am sure... you just enjoying the whole thing and denying it for others exactly like the STUPID Republican some bodies in US taking what ever bailouts they can and then lying their asse* out a bout the opposite
When will this STUPID and definately harmful game of the dang Bushney heads end? Has there EVER been this huge amount of disturbing the president of the country being able tot ake care of his job in american history? Freaking GOP anti americans are helping their dang allies of pakistani Taliban major time doing this much to make the americna president!
Hot_Single_Dude: When will this STUPID and definately harmful game of the dang Bushney heads end? Has there EVER been this huge amount of disturbing the president of the country being able tot ake care of his job in american history? Freaking GOP anti americans are helping their dang allies of pakistani Taliban major time doing this much to make the americna president!
I think we should invade YEMEN....oh hell, I forgot.
We have already. 
I'm sure the arabs will love us someday for this.
Obummer has no idea what he's doing... it's so pathetic.
Hot_Single_Dude: Another crook flipflopper of the GOP:
I would call that a healthy intellectual discussion. Unfortunately, it's beyond the democrats (except for Bill Clinton) to grasp.
Hot_Single_Dude: Come on... Study this and do not claim no body warned you:
Still a blind naiv boso eating shi* (Dude) served by the Damn GOP and beleive is honey?
Get the head out of the bloody mudd
Still a blind naiv boso eating shi* (Dude) served by the Damn GOP and beleive is honey?
Get the head out of the bloody mudd
Hot_Single_Dude: Another STUPID republican candidate:
And one of THEM Katt really beleives even Like her
And one of THEM Katt really beleives even Like her
I'm very flattered that you have developed an obsession with my political beliefs that borders on psychoses.
But it's still creepy as hell!
Hot_Single_Dude: Romney time will pass too... people are frustrated with job numbers and this situation is rather normal. I am sure job numbers will become more positive some time soon... rebulding american infrastructur which have been absolutely neglected by GWB is a very necessary effrot which can not begin with out more care and more cooporation from the Republicna side and Republicans have exactly tried stopping this one very decisivley... but since more nad more Republican states have begun to Barf even mentioning GOP ... Repubhead militants are going to cooporate regarding this important matter with holding millions of new americna jobs. Republicnas have began ananti americna effort just to make the president fail but in the middle of this anti ameircna act... millions of americans suffer and new jobs are hold back.
Theare are ways out of this hostige taking of the damn GOP with holding new americna jobs and one of these fabulous ways is keep revealing the GOP and beside revealing some really interesting but absolutely realities regarding the GOP I told you guys a little bout some days a go.
your guys have not even been able to make their own kind of heaht care instead of the affordable ehaht care act and now they just try with another STUPID bribed Ultra right winger so called judge in Atlanta destroying these necessary reforms... still acting as terrorists just destroying and destroying and NEVER buliding any thing good what so ever!
In the middle of this whole mess... a Mormon rise and then he will fall again. America knows the best possible solution they got is president Obama and this fact will not change much until november 2012 I asure you.
I have heard a bout GOP,s next attacks on the president soon have you heard too? Now they want to bring a so called ex classmate of Obama in to this dirthy lying game of their,s... what have u given this guy any way? The money if from Koch bros or is it still Trump money? Nasty Nasty Republicans Your guys should be IRS,ed massivly and not being able to keep a dime of the money they have stolen from America by cheating in taxes for years
Theare are ways out of this hostige taking of the damn GOP with holding new americna jobs and one of these fabulous ways is keep revealing the GOP and beside revealing some really interesting but absolutely realities regarding the GOP I told you guys a little bout some days a go.
your guys have not even been able to make their own kind of heaht care instead of the affordable ehaht care act and now they just try with another STUPID bribed Ultra right winger so called judge in Atlanta destroying these necessary reforms... still acting as terrorists just destroying and destroying and NEVER buliding any thing good what so ever!
In the middle of this whole mess... a Mormon rise and then he will fall again. America knows the best possible solution they got is president Obama and this fact will not change much until november 2012 I asure you.
I have heard a bout GOP,s next attacks on the president soon have you heard too? Now they want to bring a so called ex classmate of Obama in to this dirthy lying game of their,s... what have u given this guy any way? The money if from Koch bros or is it still Trump money? Nasty Nasty Republicans Your guys should be IRS,ed massivly and not being able to keep a dime of the money they have stolen from America by cheating in taxes for years
You don't think Soros is pissed at Obummer and jumping ship, do ya? Maybe Soros' money is behind it dude? Ya never know?
I think the numbers for unemployment will changed. They'll hit 10%
Conrad73: http://www.fortliberty.org/causes-of-the-great-depression.html
Causes of the Great Depression
When we think of the Great Depression, it is so easy to think that business caused it and the government corrected it. However, the truth about the Great Depression is that it was the government that allowed it to continue for much longer than it needed. Because of policies enacted by President Hoover and then Roosevelt’s New Deal policies, the Great Depression, which should have only lasted for a couple of years, lasted for far longer. The big question is: what individual policies caused it?
Monetary Contraction
Because of a one-third drop in the money supply from 1929 to 1933 and then bank failures in the early 1930s, many people suddenly were afraid of an economic crisis. That drop in the money supply was caused because of an error by the Federal Reserve. The bank failures, though, was caused because of a bank’s inability to diversify their portfolio and branch out.
Tax Hikes
During the 1920s—otherwise known as the Roaring 20s—we had an economic boom. But, what people don’t notice is that there were also incredibly low income taxes. The income tax dropped from 73 to 25 percent. In 1932, President Hoover signed the Revenue Act of 1932. This was a massive increase of the income tax from 25 to 68 percent. When money is taken out of the hands of the consumer, they are unable to buy goods which means that businesses don’t get revenue.
When Roosevelt entered office, he increased the individual and corporate tax even more. The highest rate reached up to 79 percent. Add on the fact that states were suddenly starting to add an income tax as well and suddenly, the incentive to work and invest died away. When entrepreneurism was so desperately needed, there was no money to invest in the economy of the country.
Trade Restrictions
As trading became easier and ships became more powerful around the world, the United States began to increase the amount of trade they sent overseas. In an effort to promote American goods being sold in America, Hoover signed the Smoot-Hawley trade law. This raised the import tax up to 59 percent. When this happened, the governments of other countries raised the import tax on goods that came from America. In other words, we lost out on a huge business because we became too protective.
High Prices
The National Industrial Recovery Act of 1933 created codes that were meant to reduce competition between businesses. Specifically, it was a law that told businesses to cut output and keep prices and wages high. Any businesses person that tried to lower prices was fined, harassed and sometimes even arrested. This was meant to keep big business strong.
The next thing that they did was create the Agricultural Adjustment Act of 1933. This meant that extra crops were destroyed to ensure that the prices didn’t plummet. While people starved, food was destroyed. Welcome to America.
Employment Costs High
Many New Deal policies made it even more expensive to hire employees. The NIRA codes required high wages. Businesses had to keep high wages on employees and that meant that they were unable to hire more employees. As businesses were unable to make enough revenue because there were not enough people working to make money, they were forced to keep wages high. That did nothing but further perpetuate the problem.
Causes of the Great Depression
When we think of the Great Depression, it is so easy to think that business caused it and the government corrected it. However, the truth about the Great Depression is that it was the government that allowed it to continue for much longer than it needed. Because of policies enacted by President Hoover and then Roosevelt’s New Deal policies, the Great Depression, which should have only lasted for a couple of years, lasted for far longer. The big question is: what individual policies caused it?
Monetary Contraction
Because of a one-third drop in the money supply from 1929 to 1933 and then bank failures in the early 1930s, many people suddenly were afraid of an economic crisis. That drop in the money supply was caused because of an error by the Federal Reserve. The bank failures, though, was caused because of a bank’s inability to diversify their portfolio and branch out.
Tax Hikes
During the 1920s—otherwise known as the Roaring 20s—we had an economic boom. But, what people don’t notice is that there were also incredibly low income taxes. The income tax dropped from 73 to 25 percent. In 1932, President Hoover signed the Revenue Act of 1932. This was a massive increase of the income tax from 25 to 68 percent. When money is taken out of the hands of the consumer, they are unable to buy goods which means that businesses don’t get revenue.
When Roosevelt entered office, he increased the individual and corporate tax even more. The highest rate reached up to 79 percent. Add on the fact that states were suddenly starting to add an income tax as well and suddenly, the incentive to work and invest died away. When entrepreneurism was so desperately needed, there was no money to invest in the economy of the country.
Trade Restrictions
As trading became easier and ships became more powerful around the world, the United States began to increase the amount of trade they sent overseas. In an effort to promote American goods being sold in America, Hoover signed the Smoot-Hawley trade law. This raised the import tax up to 59 percent. When this happened, the governments of other countries raised the import tax on goods that came from America. In other words, we lost out on a huge business because we became too protective.
High Prices
The National Industrial Recovery Act of 1933 created codes that were meant to reduce competition between businesses. Specifically, it was a law that told businesses to cut output and keep prices and wages high. Any businesses person that tried to lower prices was fined, harassed and sometimes even arrested. This was meant to keep big business strong.
The next thing that they did was create the Agricultural Adjustment Act of 1933. This meant that extra crops were destroyed to ensure that the prices didn’t plummet. While people starved, food was destroyed. Welcome to America.
Employment Costs High
Many New Deal policies made it even more expensive to hire employees. The NIRA codes required high wages. Businesses had to keep high wages on employees and that meant that they were unable to hire more employees. As businesses were unable to make enough revenue because there were not enough people working to make money, they were forced to keep wages high. That did nothing but further perpetuate the problem.
de ja vue all over again.
More bad news:
Ohio restaurant referenced by Obama is closingAssociated Press - June 9, 2011 6:15 AM ET
TOLEDO, Ohio (AP) - An Ohio restaurant mentioned last week by President Barack Obama as an indirect beneficiary of the government's Chrysler bailout will go out of business Sunday after a more than 70-year history.Co-owner Richard Lawrence of New Chet's Restaurant in Toledo says business has fallen victim to the economy and the workplace smoking ban approved by Ohio voters in 2006. He told The Blade newspaper of Toledo on Wednesday that auto industry cutbacks also hurt.
Lawrence says he used to deliver up to $300 in food per week to Chrysler Group LLC's Jeep plant in Toledo, but now that's down to about $100 worth.
Obama visited the plant on Friday and told workers that without them, who would eat at Chet's or patronize other local businesses?
Information from: The Blade,
( be he let Obama smoke in his restaurant)
Ohio restaurant referenced by Obama is closingAssociated Press - June 9, 2011 6:15 AM ET
TOLEDO, Ohio (AP) - An Ohio restaurant mentioned last week by President Barack Obama as an indirect beneficiary of the government's Chrysler bailout will go out of business Sunday after a more than 70-year history.Co-owner Richard Lawrence of New Chet's Restaurant in Toledo says business has fallen victim to the economy and the workplace smoking ban approved by Ohio voters in 2006. He told The Blade newspaper of Toledo on Wednesday that auto industry cutbacks also hurt.
Lawrence says he used to deliver up to $300 in food per week to Chrysler Group LLC's Jeep plant in Toledo, but now that's down to about $100 worth.
Obama visited the plant on Friday and told workers that without them, who would eat at Chet's or patronize other local businesses?
Information from: The Blade,
( be he let Obama smoke in his restaurant)
More bad news:
US Is Nearing Even Worse Financial Crisis: Jim Rogers
Published: Wednesday, 8 Jun 2011 | 5:16 PM ET Text Size By: Margo D. Beller
Special to CNBC.co---------------------------------------------------------
The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.
"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.
"When the problems arise next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around."
The well-known investor believes the government won't shut down in August if agreement isn't reached on raising the debt ceiling, but he did say "draconian cuts" are needed in taxes and spending, especially military spending.
"We’ve got troops in 150 countries around the world. They’re not doing us any good, they’re making enemies. They’re costing us a fortune," he said.
Rogers said he is "not long anything in the U.S." and short on American tech stocks. He owns Chinese stocks as well as commodities and would love the world price of silver and gold to come down so he could "pick up the phone and buy more."
He said he owns Chinese stocks, currencies and commodities, adding the Chinese yuan will be a safer currency than the dollar.
US Is Nearing Even Worse Financial Crisis: Jim Rogers
Published: Wednesday, 8 Jun 2011 | 5:16 PM ET Text Size By: Margo D. Beller
Special to CNBC.co---------------------------------------------------------
The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.
"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.
"When the problems arise next time…what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around."
The well-known investor believes the government won't shut down in August if agreement isn't reached on raising the debt ceiling, but he did say "draconian cuts" are needed in taxes and spending, especially military spending.
"We’ve got troops in 150 countries around the world. They’re not doing us any good, they’re making enemies. They’re costing us a fortune," he said.
Rogers said he is "not long anything in the U.S." and short on American tech stocks. He owns Chinese stocks as well as commodities and would love the world price of silver and gold to come down so he could "pick up the phone and buy more."
He said he owns Chinese stocks, currencies and commodities, adding the Chinese yuan will be a safer currency than the dollar.
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“Overcriminalization” describes the trend in America – and particularly in Congress – to use the criminal law to “solve” every problem, punish every mistake (instead of making proper use of civil penalties), and coerce Americans into conforming their behavior to satisfy social engineering objectives. Criminal law is supposed to be used to redress only that conduct which society thinks deserving of the greatest punishment and moral sanction.
Obama,your Turkey is on it's way home to roost!