commentary: The Fear Has Shifted
The Obama Plan Won't Work
John W. Ritenbaugh
Given 14-Mar-09; Sermon #927c; 11 minutes
John Ritenbaugh, observing that the news of Iran, Iraq, Pakistan, and Israel has diminished, suggests that the economic woes of America have taken over in the news. Economist Martin Weiss suggested that this demise has been coming at us like a roaring freight train. A family, a company, or nation cannot keep spending beyond its means without suffering consequences. It is illogical that we need to spend money in order to get out of debt. Like ancient Rome, who tried to entertain its citizenry by bread and circuses, while it spent itself into oblivion. The Chinese, economically in better shape than we are because of the industrial base we have given them, have guaranteed 15% of our national debt. The foolishness of the Obama Administration in thinking it can spend itself out of debt by printing more "funny money" will bring hideous economic slavery to this nation. When nothing backs up the currency, it becomes worth nothing.
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