In a stunning show of bravado, Obama put his foot down against the obstructionist Republicans, saying he'd rather lose the next election than let Cantor and the Teatards ruin the country. Bravo, Mr. President for finally showing some balls. Please don't give in like the pussy governor of Minnesota just did, capitulating to the GOP in throwing the poor and elderly under the bus. I'd rather the whole world blow rather than have to figure out which medication I can forgo this month instead of rent or food, which is what the Republican plan will do.
Austerity measures are coming, but the GOP plan is definitely going to bite harder than Obama's. If Obama can get tax hikes for the richest individuals accomplished, he will have demonstrated a quality he has been sorely lacking in: Presidential ability. JFK saw the dangers the Russians were trying in 1961 and bravely said "I will nuke this world ten time over rather than have missiles in Cuba." As a result Russia blinked and the world was saved. This is Obama's Cuban Missile Crisis. If he stands his ground and let's the Republican blink first, he will have a major advantage in the next election. If he gives in too soon, his damaged presidency may be all but over. He has been way to quick to give in GOP demands like ending the public option debate and tax hikes for the rich. This is your moment Mr. President. Don't blow it.
In other news, word is that a peace deal is in the works for Libya. Or an all out invasion is on the way. Depends what news you read. And that leads to the basis for this column. Like the debt ceiling debate what you hear as truth depends on the source it comes from. We keep hearing that the country will be fine if it doesn't raise the debt ceiling and others who say its Apocalypse now. Which is right? There is no way the country is better off by not raising the debt ceiling. We can see that the credit agencies are going to downgrade our status, the stock market is going to tumble off the planet and millions of people are going to lose their job after next months debacle. This is all GOING TO HAPPEN. Why? Because it already is happening. The stock market is flatlining, no one is hiring, and lay offs are increasing like Cisco shedding 10,000 jobs.
Next month may indeed bring the beginning of the New Great Depression where it is going to be ugly. No money for services mean millions of people looking for any way possible to feed the families. Thefts of things like air conditioning units, weaves from hair salons and roof gutters show that desperation is setting in. When food stamps and unemployment end, crime will skyrocket in a way never seen before in those country. And as less police will be on the streets, get a gun because it will be the only way to protect yourself.
Hard times are coming, sooner than you think. Your 401k is about to tank, your job will be even more tenuous and your life is going to be much much harder. Still don't want raise that debt ceiling?
On a side note, Netflix is in the process of going under after another stupid decision to raise prices by 60%. At a time when people are cutting back on any non-essential, they may have priced themselves into oblivion. 5000 people cancelled the day after the price hike was announced and hundreds of thousands are expected to follow. Blockbuster has seized the opportunity by offering similar services for significantly less money. Their 28 day waiting period for new releases was dumb enough but this is downright suicidal. Stocks fell almost 4% and will continue to slide. If you have stock in Netflix sell today because it won't rise again anytime soon.
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