Barack Obama’s Legacy: War, Debt and Poverty
Politics / US Politics Dec 31, 2016 - 01:26 PM GMTBy: Jeff_Berwick
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.
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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.
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