Still unmindful of the historical lunacy in the US continually printing money out of thin air, President Obama continued, on Friday, in his resistance to cutting spending while simultaneously blaming Republicans for not being in agreement to spend even more in borrowed funds.
Responding to a CNN reporter's questions during a press conference on the sequester, Obama mixed sci-fi metaphors, while perhaps even shocking a number of ardent supporters, by admitting to attendees, the following:
The White House, in quasi-dictator style, meanwhile, has loosed several veiled but documented threats against at least two prominent journalists for being critical of White House efforts at denial of originating the sequester cuts. Obama's team has also been charged with 'moving the goal posts' against what was originally agreed, in the passage of the budget control act of 2011, which allowed the 2011 debt ceiling increase.
America's failure to take hold of its spending problems resulted in the US losing its AAA bond rating for the first time in US history, in August of 2011.
Despite Obama's numerous declarations in 2009 to cut the US deficit in half, Obama in 2013, has resisted virtually any type of cuts in spending that could make taking control of the deficit remotely possible, while still insisting on more tax increases. This has led a number of Conservative political watchers to insist that Obama is angling for a Cloward-Piven style collapse of the US economy, in order to complete his task of transforming America into a European-styled Socialist economy.
While some might scoff at such a notion, a number of high-profile billionaires appear to be within at least some semblance of agreement. Billionaire investor Warren Buffett has reportedly been dumping a large amount of US consumer stocks recently along with other prominent investors.
This has led many to speculate that interest rates may be forced into rising, despite US federal reserve efforts at keeping rates at artificial lows. If a market-driven interest rate increase were to occur with enough of a surge, US Treasury bonds could lose most of their value and a US Housing and stock market collapse could become eminent.
When investors also factor in the US economy-shattering Obamacare effects for 2014, prospects for growth take on an increasingly gloomy aspect, as a number of businesses increasingly lay off workers to avoid inevitable health insurance price-spikes. US group insurance premium increases are even now approaching cost surges of as much as 50% higher for some businesses, in 2013, as a result of the Affordable Healthcare act which fully implements in 2014.
Under current scenarios, an interest surge coupled with the crippling cost of mandated healthcare means US Business faces an uphill battle, at best. Companies would be forced into paying far more in interest rates while also being hit with impossible to afford healthcare charges. Expansion would then become far more difficult as companies would delay necessary borrowing thereby snuffing out any possibility of further US economic expansion.
All in all, business would see a tailspin of anti-growth for the US economy, and an eventual collapse might become eminent.
If such a collapse were to take place, speculation has suggested that riots would eventually erupt in most major US cities, which might also explain the US government's domestic purchase of millions of rounds of ammunition, over the past 12 months.
Newsmax contributed to this report