The transformation of The United States of America is in full scale operation, from passing legislation our elected officials have limited knowledge of the contents of to shifting language that skirts the truth and evades transparency while implementing legislation our founding fathers would fight against. It is appalling.
Remember no family will making over $250k annually will see their taxes go up? Lie or deception? Obama claims the worst of the economic downturn is behind us due to his administrations activities. Don't bet on it.
Taxes are going up substantially, which curbs economic growth. With that being said, two economic titans recently visited with CNBC's Larry Kudlow to discuss tax rates and their impact on our economy going forward.
The economic activity of the Obama administration is going to prolong the economic crisis we are in (not behind us) and the aftermath will be painful if things are not overturned in November.
Credit markets are not in good shape, and yesterday we saw a big spike in the VIX, a measure of volatility. Pigs don't fly, and the financial stability in Portugal, Italy, Ireland, Greece and Spain remains in critical condition. Canary if the coal mine for the US six months from now? How far will the dominoes fall? Will California follow suit?
In the end, while the stock market is up after companies have beaten dramatically reduced earnings estimates and reduced inventories have been restocked, I remain convinced another downturn is coming. With our irresponsibly expanding and unsustainable debt, we a high fastball to face from real trouble, but then again, that may be the emergency the administration is looking for to further transform our once great economic system and country.
As always in this Obama era, watch the other hand.
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