SOROS: WE’RE ON WRONG FINANCIAL TRACK

President Obama’s staunchest supporter, billionaire financier George Soros delivered a stark warning that the financial world is on the wrong track and that it may be hurtling towards an even bigger bust than the credit crisis. Soros said the same strategy of borrowing and spending that got us out of the Asian crisis could shunt the financial world towards another crisis unless tough lessons are learned.  Americans need to horde their money; the worst is yet to come. 

COMMENTS:

Is that the sign of a split in the Soros-Obama love affair? I keep saying that more and bigger financial calamity lies just around the corner. Obama’s insistence that our economy is cured is pre-November rhetoric and I sincerely think that by the end of November, Obama’s financial house of cards is going to come tumbling down.

TODAY’S QUERIES & ANSWERS:

Q. At the last minute, FOX told Hannity he couldn’t broadcast his Friday show from the Cincinnati Tea Party. Do you think FOX sold out to Washington power brokers? (Fragale ~ Clarksville, TN)
A. No, they made the right call here. FOX puts themselves out to us as being balanced and fair, and they do an excellent job of that. For Hannity to be the main event and to broadcast from a Tea Party where funds are being raised for the Tea Party by way of admission fees, implies that FOX is behind the Tea Party. Hannity put FOX in a bad position and they were right to insist that he do his show from New York. It’s just too bad they had to wait until the very last minute to do it.

Q. Do we have any idea yet how much Obama is going to raise taxes? (Hortencia ~ El Paso, TX)
A. $1 trillion over the next ten years, and he’s not done yet. The biggest chunk is aimed at individuals, including the elimination of itemized deductions. Also, he’s letting the Bush tax cuts expire to the tune of $340 billion. And, we’re still going to be running a deficit. He and his cronies on The Hill are leading this nation right over the cliff. As much as I dislike the arrogant s.o.b., I side with George Soros on this one.

Q. What’s this about a fraud by Goldman Sachs? (Seymour ~ Harrisburg, PA)
A. The charges relate to a complex investment tied to pools of risky mortgages. The Securities and Exchange Commission says that G.S. marketed the package to investors without disclosing a major conflict of interest: the pools were picked by another client, a prominent hedge fund that was betting the housing bubble would burst. It is interesting to note that many of the top G.S. officials are now working for Obama.

TODAY’S QUOTE:

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.” ~ Vladmir Lenin

TODAY’S VIDEO:

http://www.youtube.com/watch?v=24nfN3_zSdc&feature=ytn%3Amptnews

THE OBAMA TERRORIST TRIALS - DAY 154: