Dear Fellow American,
Now that Barack Obama has won the election, one thing is certain... he will preside over the largest expansion of the government's role in the economy since the 1930s -- with enormous consequences for your investments.
This "New New Deal," as some Democrats are already calling it, may well have the same result as the original one: to turn a sharp, painful recession into a long Depression.
Will that set the stage for a GOP president in 2012 -- the way '70s stagflation under Jimmy Carter set the stage for Ronald Reagan? I doubt it. More likely, Obama will be able to parlay the hard economic times into a second term.
How? The same way FDR did… by blaming everything that happens on his watch on his predecessors. The worse things get, the more the Obamacrats will blame it on "eight years of Republican deregulation, tax cuts and greed," calling for even more government intervention as the solution.
And the media, of course, will back them up.
Wednesday, November 05, 2008
What did I say?