Greatest Transfer of Wealth in History.

As we wrote back in the April of 2012 in "Re-electing Obama means No Debt left behind" the economic policies of Barack Obama are the greatest transfer of wealth in history.  (If you have not read our humorous take on this economy go take a read.)  Despite what you read in the Agenda Press, hear politicians say, or think, the current economic policies take from the middle class and poor and pass on to the wealthy in this country.  The media in this country filled with economic illiterates do not grasp this fact and their religious support of the first black President blinds them to the obvious.  The current President being a narcissistic fool can not see it as well.  The worst part is that the people whose money is being transferred FROM do not see it and think all is well. 

But trust me the people who are getting the wealth transferred TO them see it very clearly. They see it in their stock portfolios going up and up.  They see it in the huge transfers of money from the less well off taxpayers to them. They see it in the low interest rates allowing them to buy lots of houses, cars, and other consumer items at dirt cheap rates and putting off paying for the items for many years in the future.  Frankly maybe NEVER paying for them because Obama's economic ponzi scheme allows them to buy the items, use them now, pay for them with cheap money, and then abandon the debt by simply walking away from the bills since Obama just picks it up and adds the debt to the national debt load. He does this by bailing out banks, automobile manufacturers, and transfers of wealth using taxpayer money. 

We know this ourselves as we have been on a buying spree the last couple of years knowing the party will not last forever and why not enjoy since we will be passing on the troubles and debts to others after we are pushing up daisies.  This money we are spending is funny money in that it does not exist in real terms.  It exists on the balance sheet of the Federal Reserve, which is printing the stuff as future promises of payment for someone else to pay.  It is financed by the fact that our fathers and mothers worked hard and built a solid financial future for their children by making sacrifices and making the dollar strong and the world currency.  If you think the young people of the US will be mad when they see greatly reduced lifestyles in a couple of decades, imagine how furious China and other countries who are buying this debt will be when they find out they are holding debts and currency worth much less than the current value.  Makes one wonder why they are buying this debt?  We are thankful we will not be here to feel their wrath when the debt they are holding is found to be worthless. 

Adding to this huge transfer of wealth is the entitlement state we live in where WHITE seniors are getting huge sums of Social Security and Medicare paid for by the young people in this country who are more black and hispanic who will never see a dime of it returned when they are seniors.  Again Obama and Bernanke have not only fashioned these economic policies they have put them on steroids.  All this reminds me of the bumper sticker that says we are our spending our children's inheritance.  The sad part is we are spending our children's future earnings as well. 

So we continue this game playing of silly politics, having clueless media types, and allowing the middle class and poor to sink deeper and deeper into debt.  The Obama spending spree is made possible with the help of a compliant Federal Reserve and the beat goes on.  When given a chance to START reversing these policies yesterday the Federal Reserve said no.  Heck even Obama stated yesterday that raising the national debt is not adding to the debt.  Talk about economic illiterates? 

We are sad to watch this debacle unfold, but seem powerless to do anything about it other than to keep screaming STOP.  Seriously you young folks elected Obama because he was "cool" like an American Idol contestant.