DeMint’s take on the current crisis FYI
Sadly, that video whizzes by so fast that unless you were quite well versed on the problems to begin with, you’re not going to come away elightened. The info is there. If the guy had just slowed it down so people could follow his logic trail and realize there was something substantial behind it, it might have been very helpful. As it is, those who don’t know the background are going to think it’s not much more than slick propaganda.
Folks, I know a lot of you have been very upset at what you see has the government taking over institutions and turning our society into a socialist enclave. I get the logic. I share the thoughts. I don’t see the alternative.
Over the last few days I have entertained certain suggestions about lowering capital gains taxes and other really good ideas. I think that in the long term those ideas are necessary separate from this current crisis. I do not see them as the total fix here.
China has just halted all loans to the U.S. Why? Putting political ideology aside here, they are doing it because they fear they will lose money on their investments in the United States. What happens if other nations decide to do the same thing? Whether folks want to acknowledge this or not, we could melt down in days if that were to happen.
We must get capital back into the markets now, not next Thursday, not 172 hours from now, not 48 hours from now, but now!
Look folks, we bailed out other institutions. We bailed out Mexico. We made money off those arrangements. We may make money on this one. If not, we will not lose the total 700 billion. If we don’t act, we may lose a lot more than that.
If we take measures that might fix things in a year or two, what confidence is that going to build overseas? We fear that $700 billion might not be enough, but think other fixes will be. Frankly, I think a combination is required. I like some of the suggestions I have seen from the right side of the isle. I just don’t think they are enough.
If the government backs these concerns and property values stabilize, we’re looking at a fix that will not cost us the $700 billion. Even if property values drift more south, the government is not going to lose the entire $700 billion. We need to quit acting like it will.
Folks, if foreign nations lose confidence in the investment pool in the United States, that $700 billion that we are too tight to turn lose of now, will turn into trillions of dollars of losses and violent turmoil on a global scale.
We need to get a grip here, and realize that we’re going to have to bite the bullet one way or another. Two year, three, four, five years fixes are not going to placate foreign nations which we depend on to remain liquid.
If our leaders don’t pull their heads out and get a fix going NOW, we’re in serious trouble.
There’s one more thing here. IT WAS NOT GREED, that got us into this fricken mess! Can we be honest here? It was Janet Reno and the leftist cabal that has race baited us nearly into oblivion. If we don’t get on point to a man and make this our rally point, we’re going to sign on to a plan that gifts the Democrats their wet dream desires, to flood their store front activist concerns with literally hundreds of billions of dollars in funding. We must make sure there is no leftist pork in the final bill. (And frankly, it’s time to defund some of these leftist bull-sxxt organizations.)
We should have declared war against the leftists in this nation a long time ago. This should be the last straw. From what I’ve seen so far, our leaders on the right haven’t a clue. They can’t focus on what the problem was. They are not on point. They are failing us more than at any time in the Republican Party’s history.
We are bailing these financial institutions out for one reason only. The Democrats in Congress forced this situation on them, and our government should be responsible to bail them out.
The government caused this mess. Greed my ass, unless it’s the greed of party politics over national survival.
We have stood by and watched the Democrats gift public funds to hundreds of storefront operations in this nation focused on one goal, taking this nation down. Some of it was related to race. This whole financial meltdown is.
The Democrats in this nation deserve their own Appian Way. Yes, I’m serious. Never again you Rat bastards!