Even The Israelis Get It

Nehemia Shtrasler in a Haaretz article called The Alchemist tells what lies ahead for the US economy under Mr. Obama.

The United States faces a huge crisis because it has lived beyond its means and has done so quite irresponsibly. Obama seeks to continue on the exact same path, though on a much larger scale.

So the next crisis is inevitable. Whoever increases spending will end up with a broken water trough while the world agrees to lend more money, though at beggars' prices. This will also happen to the United States. Inflation will rise, the dollar will weaken, interest rates will jump sky-high, and economic growth will be buried in the ground. In other words, stagflation.

Obama thinks he has discovered the philosopher's stone. He fancies himself an alchemist who can heal the economy painlessly and without consequence. His crash landing back to reality will be difficult and painful.

And I was saying this before the election. Jimmy Carter's second term. Stagflation. Ruinous spending for no economic result.

His second problem is that geopolitics could intrude and cause him further misery.

I must admit that I have already developed mild ODS. I just can't stand watching him or listening to him on the tube. YouTube or the other one.

Cross Posted at Classical Values