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Great Depression Online Archive Issue:

A Crude and Offensive Bamboozle

Great Depression Online
Long Beach, CA
January 06, 2009

Inside This Issue You Will Discover…

*** Bob’s Transformation
*** A Call for Swift and Bold Action
*** A Crude and Offensive Bamboozle
*** And More

Bob’s Transformation

In 1996 Bob Dole ran an unimpressive, unexciting, and uninspiring presidential election campaign.  The old injured war hero looked worn-out, weary, and enervated.  Standing next to the incumbent, Bill Clinton, it was no question…Dole was the lesser man.

Sure enough, on election night, Clinton clobbered him.

Several years later, however, a new and more vigorous Bob Dole hit the spotlight.  And to everyone’s surprise, this Bob Dole hardly resembled the presidential election race dud everyone knew.  Suddenly – in what was almost embarrassing to watch – Bob Dole was appearing in Pepsi commercials gawking at Britney Spears like a drooling adolescent.

~~~~~~Credit Crisis Survival Kit~~~~~~

Before it became the worst credit crisis since the Great Depression, the credit crisis used to be an arcane topic discussed only in financial publications.  Now, it’s on every computer, television screen, and front page of every newspaper in the world.  It may have you worried about what you can do to get through it with your personal finances still intact.  What can you do about it?  Find out here: Credit Crisis Survival Kit.

~~~~~~~~~~~~~~~~~~~~~~~~~

Was this really Bob Dole?  What changed?

Of course what changed was one very essential thing.  Speaking in the third person he explained to Jay Leno what it was…

“Bob Dole knows a little about Viagra.”

In a word: stimulus. 

Miraculously, Bob Dole found stimulus in a little blue pill.  And, by the extent of his transformation, the results must have been miraculous…or more.

A Call for Swift and Bold Action

Barack Obama announced, too, that he’s turning to stimulus to miraculously transform the U.S. economy.  In fact, he released an optimistic and hopeful oration over the weekend, calling for swift and bold action to address the ongoing and unpleasant economic malaise.

“Obama said Congress should pass an American Recovery and Reinvestment Plan designed to create 3 million jobs,” reported AP.  “The Democratic president-elect hasn’t announced a final price tag on it, but aides said the cost could be as high as $775 billion.

“Congressional aides briefed on the measure say it’s likely to blend tax cuts of $500 to $1,000 for middle-class individuals and couples with about $200 billion to help revenue-starved states with their Medicaid programs and other operating costs.

“A large portion of the measure will go toward infrastructure projects, blending old-fashioned brick and mortar programs such as road and bridge repairs and water projects with new programs such as research and development on energy efficiency and an expensive rebuilding of the information technology system for health care.”

We don’t fault Obama for turning to stimulus for a miracle.  It’s what’s expected and demanded by the economic.  He even said so…

“‘Economists from across the political spectrum agree that if we don’t act swiftly and boldly, we could see a much deeper economic downturn that could lead to double-digit unemployment and the American dream slipping further and further out of reach.”’

A Crude and Offensive Bamboozle

The world is watching and waiting attentively for the Obama stimulus to save the economy…and make everyone rich.  But what is stimulus?  And whence does it come?

A short while back we discerned the answer to the first question…that Stimulus is for the Birds: Stimulus is for the Birds.

Still we can’t stop asking the question…and wondering from where it comes.  For we are aghast, astounded, and astonished by the very fact that in this modern era of IPOD’s and Post-It Notes, the very foundation of the world financial system rests on a crude and offensive bamboozle of Federal Reserve issued paper money.

The stimulus money, of course, will be borrowed into existence and handed out by the government in preferential order.  The effect is that of being greeted at your doorstep by a grinning Jehovah’s Witness donning a tie.  It is as unsightly as a disfigured beggar.  It is as uncomely as a fat woman in a bikini.  And it is as intolerable as dining on sushi.

Yet the bamboozle is so crude and so offensive it goes unnoticed. 

What’s more, the people plead for it like funnel cakes at the county fair.

Sincerely,

M.N. Gordon
Great Depression Online

P.S.  We’re in the midst of the worst credit crisis since the Great Depression.  But not to worry.  Our friends at Elliot Wave International would like to give you a Credit Crisis Survival Kit.  Find out all about it here: Credit Crisis Survival Kit.

 

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