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America is beginning to look a lot more like a Zimbabwe "Mini-Me"with each passing day. Similarities are, we have an African leader, he believes he is Robin Hood, and we now talk in terms of "trillions", when speaking of finances. Corollary: In Zimbabwe, it is easy to be a trillionaire; and in four years, it may be just as easy in America.
Since this word trillion is now part of our daily lexicon, thanks to Obama, it begs the question, "How big is a trillion?"
If you divided a trillion dollars by 300 million (approximately the population of America), you could give $3,333 to each man, woman and child. Interest on a trillion dollars at 5% is $137 million a day. At $1T, the National Debt increases by $5 million per minute, and $1T could pay for 6,700,000 homes valued at $150K?
Sounds like we could end the mortgage crisis in one fell swoop? And personally, I am willing to sacrifice, accepting only ten minutes of interest that is earned on $1T. That's me…Mr. Magnanimous!
As for Zimbabwe, they went 100 times better, and introduced the $100 trillion bank note. That Mugabe is a real futurist. Why print a $1T note, when you can get ahead of the curve and print $100T note? Perhaps it is Mugabe who is "the smartest guy in the room" and not Obama. I will wait for the mainstream media to get back with me on that one.
Since Soros is so interested in African politics with his overwhelming support of Obama, and he is obviously interest in "being rich", I think Soros should invest in the Zimbabwe currency. I'd like to know somebody who is a true quadrillionaire, perhaps even a quintillionaire! Let's do the math!
For those of you who were wondering, a quadrillion follows a trillion, then quintillion, septillion and so on, as the chart below indicates:
1 million 1,000,000
2 billion 1,000,000,000
3 trillion 1,000,000,000,000
4 quadrillion 1,000,000,000,000,000
5 quintillion 1,000,000,000,000,000,000
6 sextillion 1,000,000,000,000,000,000,000
7 septillion 1,000,000,000,000,000,000,000,000
8 octillion 1,000,000,000,000,000,000,000,000,000
9 nonillion 1,000,000,000,000,000,000,000,000,000,000
10 decillion 1,000,000,000,000,000,000,000,000,000,000,000
Remember when you were a kid, and they would tell you statistics like, "…if you stacked up one trillion $1 bills, you could reach the sun"? Admittedly, I was the little kid who would say, "Wouldn't all the money burn up, before it reached the sun?" Even at eight years old I was too smart to be a Liberal. Suffice it to say that, I would consider anything after a decillion a "butttload", wouldn't you?
This Z$100T note is worth US$33 on the black market, according to this article in the Telegraph. And the value literally drops as soon as it is printed. The question you may be asking yourself is, "How does a country get to the point of having to print "buttloads" of money?" The answer might surprise you.
When Mugabe took over in Zimbabwe, he engendered a program called "land reform", whereby he seized the farms of Whites who lived there, and then redistributed [this is actually what they called it] the farms to native Africans. The problem was that the native Zimbabweans did nothing with the farms, since they had never run farms. Nor did they have the capital to run the farms properly.
Now it has been argued that since the native Zimbabweans could not afford to buy this land, it was right for the government to take it from the actual landowners, and gift it to the people who needed it more. I don't need to draw you a map for you to know where this is going.
Welcome to the good ol' USSA? Except even Liberals will not be so blatant as to try to take land. At least not yet. No they will take it from us in taxes, which is exactly what they propose to do. So we are seeing the very beginning of The Zimbabwe Condition in Obama's policies. All that's left to do is to start printing money, and come Jan 20, the presses will be working overtime folks.
Here's the wrap:
When you hear Obama backing down on repeal of the tax breaks "for the rich", and offering additional tax cuts, don't think that he has finally decided to abandon his socialist agenda. All it means is that he has had a "come to Jesus meeting" with those smarter than he, and he has seen his own light. So publicly, he can still be "the smartest guy in the room".
Because unlike Reagan who is looking at how the free market can help energize the economy, Obama still believes that government can do the same. So he will be redistributing the wealth. He just believes that you won't see the sledge hammer overhead, because you will be too busy celebrating your tax break…yes, the tax break that you already are getting, courtesy of W. A bit of liberal trickeration, aka smoke and mirrors.
And in the meantime, America will just keep printing money, just like Zimbabwe. Soon in America, being a millionaire will mean little, financially speaking. And $1000 bills will be like Zimbabwe "Mini-me" dollars - only as good as toilet paper...just worth less.
That's my rant!
© 2009 Kevin Jackson – The Black Sphere All Rights Reserved
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18 comments:
Kevin
You have widened my perspective once again...
Thanks!
Kevin,
great article! I too see this coming to America. Call me an alarmist, doomsday adventist, but I am stocking up on can foods, and such. I see the prices of staple foods shooting through the roof. Many of those young folks who voted for PEBO never saw/heard/learned about Russia's food shortages, and the bread/vodka food lines supplied by their government.
With tax season upon us, I advice everyone to spend wisely, and stock up on food, and other supplies. I am going to try and live as a spoiled American as long as I can. :)
Rose-Bud, now I know where to get some food, when the lines are too long! :-)
RIP - You didn't say how much I widened your perspective. Quadrillions or septillions? Or a "buttload"?
As I've stated before, in The Messiah's mind we are all too stupid to understand any of this so he could even use the word, "bazillion" or "gazillion" and it wouldn't matter. And sadly, for about 50% of the population, he'd be right. As for the rest of us, we'll feel the pain of everyone one of these dollars.
Time4SumWupAzz
Man a trillion is a bunch.
I bet you Obama will be talking in quadrillions soon. After all his plans are implemented.
Tbyrd073
His face will be on our $100T dollar note.
Tbyrd073
Welcome to New Zimbabwe, where you can have sex with a hooker in Las Vegas for only $1-Trillion US. Enjoy your stay.
Great post, Kevin! I agree, our currency is rapidly becoming worthless. It's not far from that now, as our currency consists of promisory notes from the Federal Reserve Bank.
Dirk
http://tsalagiman2.blogspot.com/
Well said. It is called hyperinflation and we are going to head down that slippery slope very fast.
What we need to do is to cut spending and stick to a budget.
Our money is 'worth' what people think it's worth, since it's fiat money (created and absorbed by fiat of the Federal Reserve).
The feds could issue $1T to each person in the US, and it wouldn't make the money "worth" $1T.
The fact that this new spending will equal something like $2T in today's dollars means that the value of that $2T has to come from somewhere. Since there isn't any $2T extra, the cost of everything will need to inflate to cover this extra, "fake" $2T. You can't just inject this much money into the system without causing some severe distortions in the marketplace.
I remember reading Atlas Shrugged in school and thinking "what a turgid, badly written dystopic view of the U.S. It could never happen."
I expect that soon we'll see a calendar displayed in Central Park. Stuck on September 2.
The problem with being a mathetician is I can acutally do math. Something most Americans, and all of government, seemed to have forgotten. When you create more, or really an oversupply, of a commodity, and money is one such commodity, you lower its value. What made the hyperinflation in Zimbabwe happen is that those with the means to make the commodities were forced out or killed while those that can't were given the capital or the wealth, so be fearful of that spreading of the wealth. With no new products and everyone and anyone just being "given" wealth, the wealth ended up buying nothing.
I'll add after my year of teaching, I can tell you the next generation is no were near ready to be productive in most any field, except maybe drug use and reproduction, and will have no means to counter this wave of hyperinflation. The overprinting of money and lack of production will give us Zimbabwian economics in the worse way. At least I can get employment overseas, but for most Americans, they're in for a hard time.
Oh Math Teacher - Music Teacher here =.) Same thing...to an extent. Anywho - in defense of young America, and like they say, "Location! Location! Location" In my parts of the teaching world, my area is well populated with middle class SES families - thus (in theory which I'm discovering is more true than I had originally thought) the children growing up in home with values, where the parents care about getting involved and where if you get pregnant while you're still in school, that includes college, you will pretty much get shunned by the community. I don't live out in county where all grades go to class in one building but in a county where more schools are being built due to people moving to the area. Anywho, my point is - have faith - there are some youth in American that still believe that God is Everything, Guns=Safety, the military is given great honor and respect, understand the value of earning something instead of just recieving it as a government handout and they know what it means to put their hand over their heart as they say the pledge of allegiance every morning and as the band strikes up our national anthem for Friday night lights. God Bless America.
Not only are your entries enlightening and informative, and funny, your comments from your readers are great.
Another informative post, Kevin.
Today is a day of doom... and I heard yesterday on FOX (first time we have had the tv on in 6 days) that BHO's approval rating is 80%. Can that be true? I think we will see a lot of transparency in the Obama presidency (but you will have to turn the fan on high and clear the smoke and avoid the mirrors, then get a shovel and dig for it) Thank God for FoxNews
I will be one of the folks doing some shopping therapy today, mostly stocking up on provisions. I will not have the tv on.
The one thing that made me laugh out loud yesterday was Jill Biden's comments on Uprah. No, I only saw the "tape"
God Bless America - hide your money people!
Nothing will ever be as bad as Zimbabwe. The fall is long and hard. More than 1/2 of the Zimbabwe population has left the country and is living in South Africa, USA and UK contributing their skills to other economies. The Zimbabweans had the highest literacy rate in Africa. One day we pray that Mugabe and his henchmen will go, but until then do you realize that the extra US$ being printed are being used in Zimbabwe as no-one accepts Z$ anymore and most things are available in US$? So don't worry about the oversupply - Zim will just suck them up!
Thanks for keeping us informed. I will continue to read your blogs.
If you tightly stacked 10 trillion dollars one on top of the other, they would reach out into space over three times the distance to the moon.
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