Saint Obama, hand outs, entitlements and inflation for EVERYONE!

Uncle Sam can fund retirement - Obama
Democrat would match up to $500 in savings for families earning under $75,000. It would cost the government but help people save. Is it a good idea?
http://money.cnn.com/2008/06/16/news/economy/retirement_savings/index.htm

OMG, Obama was calling a week ago for another round of stimulus checks plus increased government spending, and now he wants to give away $500 per family for retirement, and force small businesses to provide pensions.

As an amateur economist, it seems like Obama is trying to destroy the country and usher in Weimar Republic/Zimbabwe type inflation (basically where paper money is so worthless, it takes millions to buy a cup of coffee).

I mean, you can't promote savings by creating more inflation. Savings will come when the market rate of interest gets high enough to attract savings, and people work more than they spend. Policies like Obama's will just further dilute the savings already in existence, hurting the elderly, middle class and the poor over the long run.

My question?

Is Obama totally stupid about the economy and sound fiscal/monetary policy, or is he trying to destroy America?


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Yes, I read some of this as well and still can't figure out why sooo many people want to vote for him and insist he is going to fix everything.

I was floored when I heard that he wanted to do another round of stimulus checks. If you keep giving away money "for free", it's not going to be worth anything anymore. Don't understand how people don't see that. Money has worth/value because it doesn't grow on trees.

I was spending time with family yesterday for Father's Day and was shocked at the fact that almost all my family, dad included, said they were going to vote for Obama. I mentioned some of the things above and hopefully at least make them think twice before casting a vote.

I swear that our presidential elections remind me of voting for high school prom queen. People were soooo easily swayed to vote for someone just because they were young, pretty, and popular.

 

Forget that, I see a lot of Madrassas coming up in the US if Obama gets elected, taking into consideration his association with a pastor who glorifies Malcolm X ( a self-deluded Muslim)

If we talk about equality, we should make a Red Indian the president of the US instead some guy who's been to a Muslim fundamentalist school in Indonesia!!!

 

You have made a lot of bad posts lately. This is one of them. Totally offtopic and baseless.

 

With Obama's ideas on the economy and Insane McCain not having a clue when it comes to the difference between who is who enemy wise in the Middle East it ain't looking too good buddy.

 

The problem with Obama's ideas on the economy, are that we are inundated with war mongers who have a little bit of an idea about economics, or socialist crybabies that want the nanny state to carry them from cradle to grave.

Really depressing that the Obamaniacs don't even have a rational self-interest in better understanding money and the system they work and live in.

 

It's an obamanation mate.

 

Except when they debt spend. They monetize that debt, and create money out of thin air. This creates inflation, and it wipes out the incentive to save, and the value of existing savings.

It means all capital must either be debt, domestic or foreign, instead of savings, because savings are worthless.

The people who get the new "monetized debt" money first? The special interests and government contractors. By the time the money supply/price level stabilizes, the middle and lower class folks end up paying higher prices than their wages and cash on hand accommodate.

When there is inflation, the only way to profit, is to get the money first, or flirt with debt and hope you can liquidate the debt through productive activity.

 

Maybe we are totally screwed either way.

Those stupid stimulus checks don't do anything. People don't realizxe that they pay for the money in the end anyway - but I can see why America gobbles them up like a starving dog. Spend now pay later.

Every great nation in history falls. Maybe this is just nature's natural process. America as a whole is fiscally dumb.

I don't know about you guys but I'm moving away from the dollar and building businesses that operate in foreign currencies. There will probably come a time when the dollar is no longer the world's reserve currency. If this happens then be prepared for the worst.

Well enough doom and gloom from me.

 

Since when does being economically and fiscally stupid preclude one from actively trying to destroy America?

 

Obama's ideas on the economy is tax the working man. His message is clear quit qorking and the Government will take care of you. Hope Change Vote for Hope and Change.

 

Actually your incorrect homebizseo. His idea is not to tax the working man. He plans on lowering taxes for the working class. His Plan

 

He's seems like just a pretty old school liberal.

 

No. A pox on the house of Flux for suggesting it!

 

I still like him as a person though. And though I disagree with him on a lot of his liberal policies I think having a partly black president could do wonders as far as restoring morale to the downtrodden part of the black community who genuinely believe that the system is designed to keep them down. Sometimes perception of reality can be as important if not more important than reality itself. An Obama Presidency could change the perception amongst the downtrodden who have resigned themselves to a life of poverty and desparation.
That's the main reason I consider voting for Obama at all.

 

More proof that we are all collective screwed!!!

 

McCain has a plan to balance the budget in his first term. Obama is an elitist that talks down to people. The giveaways are part and parcel of Obama's elitist attitudes.

Tell that to Jessie Jackson

 

Nobody resigns to a life of p&d. They are forced to do so by other people and parts of society.

 

I think the elitist term the way it is applied is usually BS. I think Rush Limbaugh either started it or made it popular.

I'm hoping that if Obama is elected it will take credibility away from Jackson's and Sharpton's incessant cries of racism. It could go either way, but Obama's Father Day speech and the Philadelphia(I think it was in Philly?) speech on race have given me hope that he will address race honestly. And really, he is the only candidate and one of the few federal-level politicians capable of addressing it honestly(a white person couldn't without risking political suicide).