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Barack Obama’s Legacy: War, Debt and Poverty

Politics / US Politics Dec 31, 2016 - 01:26 PM GMT

By: Jeff_Berwick

Politics

As 2016 winds down, so does Barack O’Bomber’s $80 million in paid vacations and his legacy of war, debt and poverty.

It’s quite amazing how much one man can ruin a country while playing so much golf.

WAR

Just 12 days after being elected, Barack Obama was nominated for the Nobel Peace Prize. He accepted the prize in Oslo on December 10, 2009.


It was assumed that he would shut down Guantanamo Bay and end the military occupations of Iraq and Afghanistan.


Instead, much like the Bush administration’s neocons created Al Qaeda, Obama created his own terror group ISIS. He then terrorized numerous countries including Syria and Libya. He then bombed an estimated 2,581 people from January 20, 2009, to December 31, 2015. (Not including the hundreds of civilians killed)

DEBT

Meanwhile, the United States currently has a national debt total of over $19.9 Trillion according to the US national debt clock. That’s an astonishing 87% increase in less than an 8 year period.


Under the Obama regime, the total US federal government debt nearly surpassed all prior Presidents combined.

This, alone, will be Obama’s legacy. At some point, in the not too distant future, the US dollar will either go into hyperinflation to service the debt or the debt will be reneged on.  Either one will cause the US to fall into Zimbabwe/Venezuela level poverty.

POVERTY

Speaking of poverty, that is where Obama has left your average American.

One example being the fact that the number of people who cannot afford to eat without government assistance has skyrocketed since 2008.

Moreover, under his administration, a 75-year record was set for the highest percentage of young adults living at home with mom and dad. This number has nearly surpassed the staggering record of 40% during the Great Depression by a full percentage point at 40.9%

Many, well into their 20s and 30s live at home with their parents now.

This has partly been caused by the wildly unreported true rate of unemployment.

As this graph from the Federal Reserve shows, the percentage of the population that is employed has gone down since 2000 and fell off a cliff with an incredibly weak recovery after 2008.

And the number of grown adults living with their parents can also be attributed to the massive student loan bubble - which grows at a rate of over $3,000 per second. That was created after the Federal Reserve’s tech bubble and housing bubbles collapsed in 2000 and 2008.

According to Market Watch’s estimate as of this writing, the current student loan debt exceeds: $1,417,426,385,774. An enormous sum.

CONCLUSION

Even if Donald Trump was the first politician in world history who honestly wanted to help people AND had any idea how to do so, there is simply no way to fix what Barack Obama and other Presidents have done before him.

Either Donald Trump will try to salvage this mess and fail.  Or the globalist elites will crash the markets and economy after he is elected in order to show how dangerous Trump’s ideas are and bring in more centralized globalist control in the aftermath.

Either way, it’s not going to end pretty.

For this reason, we are offering our deepest discounted subscription to The Dollar Vigilante newsletter that we have ever offered.  As low as $1. We want to help as many as possible to navigate through the coming storm.

But it is only available until midnight Eastern on December 31st.  So please take advantage of this offer now HERE.

Our newsletter’s portfolio was up a total of over 100% in the last year while your average mutual fund made, at best, a few percent.

Barack O’Bomber has left the US in total desolation and no matter the best intentions of Trump it is going to get a lot worse before it gets any better.  Luckily, there are ways to protect yourself and profit through the storm.  You can find out more HERE.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2016 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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