My father sent me this article. Here it is, edited for length:
...Mr. Hannan is not alone... Informed people who actually study these matters have been warning ... failure to confront uncontrolled government spending will result in destruction of the U.S. dollar and all the collateral damage that goes with it (You know, things like hyperinflation, high interest rates, ruinous economic depression, debt our grandchildren will never be able to repay).
They have been ignored partly owing to major media's inability to distinguish trivia from substance, their paranoia of Sarah Palin, and their urgent need to prop up the failed presidency and persona of Barack Obama...
While Rome burns, Nero continues to make one campaign speech after another, because it's really the only skill he has.
But the day of reckoning is near. The British pound took a dive Wednesday after Moody's, the credit rating firm, warned that the U.K. may lose its AAA credit rating because of slow economic growth and delays in promised government spending cuts. The announcement follows a similar warning April 18 by Standard and Poor's for the U.S. credit rating.
"I look at who holds your bonds, and I tremble," Mr. Hannan told Brian Kilmeade on Fox and Friends Thursday. "Five years from now the amount of interest that you are paying the Chinese will be bigger than the entire Chinese defense budget."
Holy batfire! Must we repeat this, or could you just go ahead and reread that paragraph?
We Ignore Reality At Our Own Peril
by Stephen Combs in Birmingham, Alabama
Though he lacks the prominence of Winston Churchill, European Parliament Member (MEP for South East England since 1999) Daniel Hannan is sounding an alarm of Churchillian proportions with his warnings of impending economic collapse in Britain and the U.S. Is anybody listening?
...Mr. Hannan is not alone... Informed people who actually study these matters have been warning ... failure to confront uncontrolled government spending will result in destruction of the U.S. dollar and all the collateral damage that goes with it (You know, things like hyperinflation, high interest rates, ruinous economic depression, debt our grandchildren will never be able to repay).
They have been ignored partly owing to major media's inability to distinguish trivia from substance, their paranoia of Sarah Palin, and their urgent need to prop up the failed presidency and persona of Barack Obama...
While Rome burns, Nero continues to make one campaign speech after another, because it's really the only skill he has.
But the day of reckoning is near. The British pound took a dive Wednesday after Moody's, the credit rating firm, warned that the U.K. may lose its AAA credit rating because of slow economic growth and delays in promised government spending cuts. The announcement follows a similar warning April 18 by Standard and Poor's for the U.S. credit rating.
"I look at who holds your bonds, and I tremble," Mr. Hannan told Brian Kilmeade on Fox and Friends Thursday. "Five years from now the amount of interest that you are paying the Chinese will be bigger than the entire Chinese defense budget."
Holy batfire! Must we repeat this, or could you just go ahead and reread that paragraph?
...[P]eople are just borrowing money and spending it rather than making things..... We need to be, first of all, turning off the printing presses. We need to stop printing money. We need to raise interest rates. And above all we need to cut government spending." -- Combs, The Friday Letter
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