Failing dollar days
Cracks are appearing in State-run Media's propaganda wall, a barrier erected around Obama's socialist schemes in order to hide the truth from the American people.
Propagandist shills can't hide a shrinking economy forever. State-run Media can't fecklessly spin away an immense trade deficit, an unemployment rate guaranteed to top 10 percent, an anemic industrial base, and a money supply engorged to twice its size in less than a year.
A failure in progress
We know media propaganda is failing because each day more Americans are learning that:
For 2009 alone, the Obama deficit is $1.8 trillion, 13 percent of the whole economy. Obama plans to repeal the Bush tax cuts and take the income tax rate to near 40 percent.
Obama's cap-and-tax bill to cut carbon emissions will impose huge costs on energy production, spike consumer prices, and drive production offshore. Obama's first budget will consume 28 percent of the entire GDP, while state and local governments eat up another 15 percent.
Obama's grandiose tax-and-spending schemes are projected by the CBO to be unsustainable. Bureaucracies within Obama's statist regime now admit lacking the expertise to forecast their own budget needs.
Americans are sensing all of this in addition to fuming over Obama's loss of jobs, proposed socialist health care rationing, and guaranteed tax increases.
Americans are beginning to catch on after seeing Obama's shrewdly calculated non-stimulating stimuli and non-bailing bailouts turn out to be nothing more than naked theft and wealth redistribution scams.
Back to the dollar
The United States Dollar was once the world's most trusted currency. No more.
China, Venezuela, Russia, Iran, India, and other nations are now clamoring for a new universal currency. Putin, Chavez, Ahmadinejad and their ilk want to see a replacement for the dollar. OK, fine ... but why is this a problem for America?
Go back to that engorged money supply mentioned earlier. Obama is merrily printing away, adding billions in new paper currency to our existing domestic supply. Our domestic supply of cash is estimated to be only about $140 billion. But twice that amount, around $300 billion, is held by citizens, businesses, and governments in other countries.
For every unequitable dollar Obama prints, it weakens the value of our existing dollars and makes them less desirable. If our staggering trade deficits and foreign-held debts and investments are mixed into the equation... problems could arise that would make what we are now dealing with look like high times.
Without trust in the dollar, people and governments start cashing them in for other currencies or commodities. The hard fact is that the United States is now in no position to cover a run on its currency or calls on its debt burdens.
This is not idle fantasy -- We can't pay up even if we wanted to.
And yet Obama is imperiously bent on destroying the American economy, zealous about ruining the Middle Class, and committed to handing over the remaining wealth of America to the rest of the world.
Obama is firm in his belief that serfdom through socialist equality is far better for the masses than achievement and prosperity through liberty.
Hype and Chains.