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(NaturalNews) The Economic Stimulus bill passed the U.S. House of Representatives today, even after amassing a stunning 1,100 pages that no member actually voting on the bill has had time to read (http://www.youtube.com/watch?v=Cvnw...).
Is this the beginning of a new era of prosperity for America? Or is it just another round of debt spending, repackaged under the banner of "Hope" but sold with arm-twisting Fear?
Regardless of your position on whether spending more money is a brilliant way to get out of debt or just another Big Government spending spree, here are ten sobering predictions about the aftermath of this economic stimulus bill:
Prediction #1: A third economic bailout will be needed later in 2009 or 2010The Obama bailout isn't the first. It follows an $800 billion Bush bailout staged last October. Nor will the Obama bailout be the last. Expect a third (or fourth? Fifth?) trillion-dollar bailout to be sold to the American people later in 2009 or 2010.
Each bailout, of course, will be packaged in the language of an "emergency measure" that demands overnight passage.
Prediction #2: Foreign debt buyers will become increasingly nervous about buying more U.S. debtChinese banking officials have already voiced their desire to request collateral for U.S. debt. These are the actions of creditors who no longer trust their debtors. By creating and spending trillions of new dollars, the U.S. is sending a message to all foreign nations and central banks that currently hold U.S. debt: That debt will soon erode in value, encouraging foreign debt holders to eventually start selling off U.S. debt.
See this video by Marc Faber: (http://www.youtube.com/watch?v=loa9...)
Prediction #3: The cost of selling U.S. Treasury debt will riseAll this means the cost of the U.S. selling debt will rise. In other words, the nation will have to pay higher interest rates on the debt it continues to auction off to sucker buyers who still, for some reason, believe the U.S. will someday pay back its national debt. This higher interest rate will ADD to the existing national debt, compounding into a runaway debt increase (Argentina, anyone?).
Prediction #4: Health care will get no betterDespite all the new billions of dollars in spending on health care hidden in the economic stimulus bill, health care will not materially improve in America. Why? Because it's still based on a "sick care" system of treating disease rather than teaching people how to prevent disease.
Of course, there are a few mentions of the term "prevention" in the stimulus bill, but in today's medical system, that phrase is almost always misinterpreted as meaning "detection of disease." Screening, in other words. Mammograms. That's what conventional medicine thinks "prevention" is. They still refuse to teach the truth about Vitamin D. (http://www.naturalnews.com/rr-sunli...)
Prediction #5: Price inflation on common goods will take hold in the next 12 monthsAs the Fed is pumping trillions into the money supply, the only reason inflation hasn't kicked in yet is because the banks are all holding on to their money and refusing to lend to anyone. The minute the nervousness passes and all that new money gets flooded into the economy, price inflation will alarmingly accelerate, creating a heavy financial burden on the working class who will then be forced to pay increasingly higher prices for basic necessities like food and clothing (or rent).
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