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President Obama Does “Wag the Dog” In The Deflation Economy And Greater Depression

“Wag the Dog” is a euphemism for when a politician in trouble at home wages a war or does some other diversion to divert attention. President Barack Hussein Obama and the Democratic Party are in trouble. With only a couple month until the midterm elections, some pundits say they may loose control of both houses of congress.

Why did President Obama suddenly take the moral high ground and come out in favor of building the Manhattan Muslim mosque so close to the site of the 9/11/2001 World Trade Towers ground zero attack? He knew 70% of New Yorkers are against building the 51 Park Avenue Islamic place of worship at that particular site. President Obama, it appears to me is doing a “Wag the Mosque” as a smokescreen for the rotten state of the economy during his administration and to help his parties election chances in November.

The libertarian in me applauds liberty, freedom of religion and the free market in any form. The realist in me knows this a a big diversionary tactic. He recently actually had the nerve to bash the state of Arizona over their newly passed Mexican border immigration law. A law closely matching Federal guidelines. The explosion in media coverage of both sides of this illegal alien issue was a wonder to behold. Isn’t it the federal governments job to protect our borders?

That makes this the second “wag” in so many months!

The Democrats want all those illegal’s made into citizens so they can get their votes. Don’t they?

See the movie: Wag the Dog (1997), directed by Barry Levinson. Staring Dustin Hoffman, Robert De Niro and Anne Heche. Funny. Priceless!

On Sunday 8/22/2010, Meet the Press on CNBC, with David Gregory hosting, spent one half of the program on the mosque issue and on Iraq and Iran. Meet The Press and the President should be more concerned about rising unemployment, the tight money crisis,
real estate
problems and deflation cropping up everywhere.

People out of work can’t buy stuff. That means businesses have to cut back and layoff. The newly laid off plus the 9.7% already unemployed mean more reductions in consumer spending. This thing can turn into a vicious cycle catching us all in a snowball rolling down the hill. Watch out below,
stocks
.

“To put it succinctly, the Stock Market is a thermometer of public mood and a barometer of public action,” Robert Prechter.

“A deflationary crash is characterized in part by a persistent, sustained, deep general decline in peoples’ desire and ability to lend and borrow. A depression is characterized in part by a persistent, sustained, deep, general decline in production. Since a decline in production reduces debtors’ means to repay and service debt, a depression supports deflation. Since a decline in credit reduces new investment in economic activity, deflation supports depression. Because both credit and production support prices for investment assets, their prices fall in a deflationary depression. As asset prices fall, people lose wealth, which reduces their ability to offer credit, service debt and support production. The mix of forces is self-reinforcing.” Robert Prechter, Conquer the Crash (2002).

Xenophobia is the fear and loathing of strangers. Xenophobic trends increase as economies regress into deflation and peoples attitude turns sour. In deflationary downturns, people in general become afraid and therefore hateful of strangers. The mood of the total populace wanes. People are rabidly against the mosque. A recent poll asked the question: Is it appropriate to erect a Mosque and Islamic Community Center close to the 9/11 site? 37% said “yes”, 62% said “no.”

In addition to xenophobia, during a waning mood swing society does not start new businesses, loan money or invest. This retrenchment is textbook Robert Prechter socionomics. According to him, socionomics is a marriage of sociology and economics that sees societal mood swings from positive to negative and back again as the driving force behind booms and busts in the economy. Man is a herd animal so he can’t help following the herd. Not the way to invest, by the way. Buying more as prices go up and buying “hand over fist” at price peaks.

Robert Prechter, President of Elliott Wave International, has written about socionomics in his book, “The Wave Principle of Human Social Behavior and the New Science of Socionomics (1999). To me, the mosque situation is proof positive we are in a negative social mood change era evidenced by fear, xenophobia, pessimism, conservatism, thrift, savings and a general retrenchment. A waning instead of a waxing.

The deflation dead ahead is destined to morph into a deep dangerous depression. All credit inflations end badly according to the Austrian School of Economics. We have had a 100 years of runaway inflation. The 1913 dollar is now only worth 4 cents. Deflation, however, is the only cure for inflation.

The Greater Depression started in 2000 with the dot com bust and may last into 2016-2018 with a 90% drop in most assets and 30% plus unemployment rate. Better to lower taxes this time and let business make the jobs that will last and not disappear when the project is finished.

President Franklin Delano Roosevelt did us no favor. He made up government jobs and delayed recovery from the 1930′s depression with all his hair-brained socialist programs and ideas that took us to where we are today. He outlawed gold ownership. How crazy is that! Keynesianism-BAD!

You want conspiracy theory? I bet you can’t handle this conspiracy theory. Read The Creature From Jekyll Island by G. Edward Griffin (1994). Every word is true! Here is a sample. 1913 was the year the Federal Reserve Board, a cartel and a monopoly, was formed in secret to create a one-world-order. International bankers figured they will plunder the world via taxes, debt, inflation and the farce of fiat Currencies. Since the U.S. was so strong back then, they needed the cover of a private central bank to bring America down. Wars and even
global warming
were planned to be smokescreens for the big hustle. What a fraud. What a bunch of dummies we are to let them take our freedoms so slowly we hardly notice.

The Fed is not federal, a reserve or a bank. It is not even subject to an audit or accountable. Who owns it? The shares are not traded on any exchange. It is a private corporation watering down our money with inflation. The U.S. is now policeman and foreign aid giver of the world. We fund bailouts left and right. All this will be paid for by you and I the taxpayers. Both parties are in on the nefarious scheme, by the way.

Now, we get deflation leading up to the Greater Depression. Will the banksters foreclose on everything and get richer? Probably. Smaller government due to reduced tax revenues will be a good thing. Mark my words! Unless a private money backed by gold catches on we are doomed to a repeat driving gold to $5,000 per ounce in the distant future. Money with no backing in Germany after WWI lead to hyperinflation helping Hitler hustle everyone. You don’t want to elect the next antichrist besides the one we have in office now, do you? Only gold is not also a debt instrument. Only gold is honest. Not like politicians playing “Wag the Dog” with our LIBERTY.

New York City has a long history of intolerance. First called New Amsterdam by it’s Dutch founders. The leaders back then delayed letting the early Jewish immigrants build their own church until 1730. Waves of Irish, Italian and other foreigners passing the Statue of Liberty to be processed at Ellis Island were greeted with the same initial intolerance. The last ones onshore usually got the worst jobs with the lowest pay.

The 70% coordinated collective citizen reaction against the mosque at this spot at this time is further socionomic proof we are indeed heading into the Greater Depression. It will be three times larger and longer than the depression in the 1930′s due to the excess government, excess waste, excess war and excess credit creation. Credit creations always end in a deflationary crash.

So, President Obama took the high road coming out for the mosque in theory. What a hornets nest he stirred up. Of course, he is right. Not allowing it would be against the law and a violation of the constitution. Denying the mosque would only engender a huge unproductive wasteful loosing lawsuit. The courts would have to rule on the side of religious freedom.

Unfortunately, he is also on a program of weakening the constitution by appointing left leaning Supreme Court Judges and beating up on banks and business. Remarkably, only 10% of his administration have any business experience. Obamas’ policies are making business uncertain and cautious. Business is frozen up because of all the bank bailouts, auto company bailouts, Obamacare costs and financial reforms and regulations.

Obama knows he is only a one term president. That is why he wants the U.S. to get wrapped up around the axle. So that his socialistic and many wealth redistribution job killing aspirations can be foisted upon us. There is no better way than this to help the onslaught of deflation and depression and make them worse in the long run. Socialism is economic death. Period! Obama is the most destructive political figure America has ever had. After FDR.

The peoples mood is downright nasty these days.

Stocks are topping out. Israel is reporting Iran will have a working nuclear bomb in 9 months. A “Wag the Dog” war with Iran is next. Another smokescreen for the power elite with the help of the Federal Reserve to finalize their one-world-government to take our FREEDOMS forever. Hello “Big Brother!”

This is not what our freedom favoring founding fathers had in mind.

This is TYRANNY!

Let’s find another place for the mosque-not open old wounds.

Copyright 2010 Delwyn Lousbury – THE DEFLATION GURU

Use allowed with attribution back the http://www.deflatioeconomy.com

Delwyn Lounsbury

Delwyn Lounsbury – THE DEFLATION GURU
Get FREE 90 page DOWNLOAD “DEFLATION EBOOK” at: http://www.deflationeconomy.com
email: delwynlounsbury@aol.com
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