Good Morning all of you bright minds out there; your King of Simple News is on the air.

In order that no one can say that I’m riding comrade Obama unfairly over the Republicans, and, at the same time, to clarify how we arrived at this ugly juncture, I’m posting up a portion of a piece that I wrote in 2007.

Let’s take a very short stroll down history lane, shall we? After the dot-com-tech bubble burst in 2000, the U.S. economy was down on its knees. Along came 9-11-01 and rolled it over on its back.

What should our leadership have done? My opinion; we should have given up on this make believe exponential growth economy, climbed voluntarily into the barber chair, took our haircut, and set out with a brand new, but nearly unthinkable concept; we would face harsh reality head on.

As it turns out, reality is far too ugly to face for most politicians. It makes them sick just thinking about the possibility of having to personally seek out gainful employment.  

But then, the politicians don’t have much to worry about because we don’t live in reality, we live in America and drastic times call for strong medicine.  

The good Dr. Greenspan was called in to administer the medication. The prescription called for slashing interest rates like department store prices on Black Friday. The patient (Middle America) is certainly going to overdose and will most likely die from the treatment program, but hopefully will remain on life support for four more years until after the presidential election that is coming up in November of 2008.

By June of 2003, Doctor Greenspan and his cohorts at the FED had cut the lending rate to 1%, a number not seen since 1958. The results? Not much; with the exception that inflation was up and running like a Cheetah on steroids. Specific actions create specific results.

As the limbo man says, “How low can you go.” With the Fed lending rate at 1%, there’s not a whole lot lower to go. We needed a new false bubble. What was left that could be readily inflated? Well…there was residential housing; why not?

I can give you about 1000 reasons why not, the first being that it is provably unsustainable. The second being that an inordinate percentage of one’s gross income going to a house payment creates a few voids in other sectors of the greater economy. Ah, but that was also covered, “For everything else, there’s Master Card and home equity loans.”

After all, with real inflation running higher than a cat’s back, wages would soon follow and life would be “all better.” Sure it would.

Ya see, that’s the part of the equation that didn’t work. That’s the part that isn’t reported, along with the fact that government created the monster. Wages were supposed to have climbed in lockstep with the purposely induced inflation; but they didn’t!

It’s supposed to be impossible in economics to have inflation driving rising prices skyward and at the same time for wages to remain stagnant. After all, a rising tide lifts all boats. And in the past, playing the inflation card had always worked. But in the past we didn’t have NAFTA and the WTO; consequently, we didn’t have China and India competing with slave wages for every American’s job. Thank you Mr. Clinton.

This economic thing that is supposed to be impossible is called Stagflation; wages stagnate and prices of essential goods inflate. It’s also called devaluation of the dollar and unemployment. If you don’t believe it’s possible, ask Jimmy Carter.

So here we are, all dressed up for the parade and the election remains more than 10 months away. Housing not only failed in the 3^rd quarter, it seems to have drained all of the expendable income out of our economy; for 30 long years of mortgage payments.

The housing bubble was a purposeful act that was intended to raise a failed debt-based growth economy from the grave. And, it did for awhile. But, as my old dad used to say, “A fast horse don’t run long.” At least not long enough to dash in for a win on Election Day.

So, is there one more skinny old rabbit in this Administrations magic hat? You can bet your last stagflated dollar on it. [End 2007 article].

And of course there were a couple of skinny old rabbits left in the Bush Administrations magic hat; a tax rebate plan and a bank bailout plan, but like I predicted in 07, not enough to win an election for the Republicans.

Comrade Obama is a globalist of the greatest persuasion that this country has ever experienced. He is trotting around the planet promising the moon and stars to the Russians, Iranians, Africans, Europeans, and even the Pope.  

In the mean time, America herself is drowning in debt and unemployment. The Comrade’s time is running out to blame King George Bush, which he continued to do as late as yesterday.

My hope is that both the Democrats and Republicans are washed up in America. Neither party is salvageable under any circumstances. That is, not salvageable should we wish to remain even quasi-free people.