There is no question mark in the title of this entry because it is no longer in doubt that we are witnessing the intentional destruction of
the economic system of the United States. The question has been posed to economists asking what else would you have to do if you where intentionally
trying to collapse the economic system of the US. The answer is nothing, we are already doing everything that needs to be done.
Having already pushed our debt and deficit to unsustainable levels we passed health care reforms that will only drive up the cost of health care for
both individuals and the government. The law has been trampled in the US takeover of GM and Chrysler. Guaranteed bondholders were screwed without
due process of law in favor of the labor unions that support this administration. Without the law what do we have left?
With the financial takeover law all but guaranteed to pass the administration had one last piece of the puzzle yet to fill in. This piece has
proven to be the most difficult. The cap and trade climate legislation has been given up for dead in the Senate after barely passing in the house.
This legislation would essentially make all fossil fuel based energy prices skyrocket through tremendous taxes and the money would be funneled
to subsidize solar and wind projects. Public support and the votes in the Senate are solidly against this bill but that is nothing more than
an annoyance to this President.
The BP oil spill has given them a way to essentially do a major portion of what they wanted to do by executive order without the need for
passage in the house and senate. The six month ban on offshore drilling that was put into effect in response to the spill will end up being
the end of the oil industry in the US. Let me explain.
The 330 drilling platforms that have bee idled by this ban are costing those companies about 1 million a day for each platform. Foreign
oil companies like Brazilian government owned Petrobras are now in the process of leasing those platforms and moving them to do deep water
drilling off the coast of Brazil. Once those platforms are gone they are not coming back until those wells are dry. Essentially they are
never coming back. Petrobras plans to drill in waters nearly 10,000 feet deep with those same platforms, sounds safe.
The loss of our oil industry will end up costing us 10s of thousands of jobs and billions of dollars in lost private sector and
government revenues. The only people this policy benefits are the fringe left wing environmental extremists and the people in and around
our government that have created an organized crime system set to make billions off this scam.
If you look at our response to the gulf oil disaster the only conclusion that can be drawn is that the administration is going to use
this crisis to shutdown US oil production, forward cap and trade legislation and enrich their political allies. Do your own research on
the connections between billionaire George Soros, The Center for American Progress, the President and Petrobras.
Here are the highlights:
- The Center for American Progress is the policy setting organization for this administration.
- The CAP was created by George Soros and he still sets the agenda.
- The CAP selected John Podesta to setup the Obama administration's transition team.
- George Soros'es hedge fund has a 900 million investment in Petrobras.
- The US government has granted a 2 billion dollar loan to Brazil(Petrobras) for offshore oil exploration.
- While John Podesta is the head of PR for the Obama administration his brother has the same position, at BP.
- A federal judge overturned the 6 month ban on drilling calling out the administration for lack of evidence and false claims.
- The administration is now trying to merely delay the federal court ruling.
The long term impact on our economy of this ban will be catastrophic. Combine that with the possibility of Cap and Trade and the cost
of energy will be so high as to push us into an even worse recession than the one we are currently trying to shake off. The administration
is trying to hide and deny the green energy report from Spain that shows that for each green job created their 2.2 jobs were lost in the
private sector and that each job required a government subsidy of over $700,000. The Spanish green economy is bankrupt and they are rushing to
end those subsidies. Why would be rushing to mirror a system that is a proven failure that is occurring right before our very eyes?
What is being done now to transition to a green economy is like trying to drive across a bridge before it is completed. The technology just
isn't ready. We still need to use the old bridge before we try driving across the new one. Shutting the old bridge down to one lane is not
going to speed up construction of the new one. We need cheap energy to fuel industry so that new technologies can be created that will be
legitimate replacements for oil, natural gas and coal. The only way a new technology can be a true success is if it can compete on its own
merits in a free market system.
The people we have in power now do not believe in a free market system and believe the only way to get us to a green economy
is to collapse our current system and regulate us into their green utopia. For this new system to exist the government will need to be
able to regulate all aspects of our lives and the production of nearly everything in our economy. Emergency after emergency we continue to
hand over control and allow massive new 1000+ page laws of regulations to be enacted. The cumulative effect of all these massively
complex regulations being enacted is that we will no longer know clearly what limits exist on the power of government. Congress and
the will of the states will become irrelevant as more and more will be done via executive order and through the regulatory powers
of unelected appointed czars of the numerous government agencies.
This is the system that our current economy is collapsing into. While we will still have the appearance of being the same old United States
with a House of Representatives, Senate, state governors and yearly elections the reality will be that all power will be centralized in
Washington and directed from the executive office. The great planned democracy with a system of directed capitalism will be in place. The
road to serfdom is being paved as we speak.