"Death to America. But for us, money for nothing, and the chicks for free."
Posted on 11/25/2008 11:40:54 PM PST by Glorious Liberty
Not $3.5 trillion. Not $5 trillion. ABC News now says the government has committed $7.5 trillion to bailouts.
The government bailouts are an unbelievably enormous mistake (which probably won’t even work).
1) They convert debt that needs to be unwound through bankruptcy into taxpayer debt that can’t be unwound.
2) The bailouts are morally offensive, handing vast sums of taxpayer money to those who should not be getting the money.
3) If the government persists with escalating bailouts and out-of-control spending, the U.S. will come up against the limit of its ability to borrow - making the economic situation far worse.
4) Interest on the debt will burden taxpayers and the economy for the foreseeable future. (And we all know that the government will be tempted to inflate it’s way out of this enormous debt burden.)
5) People don’t see the government debt as their debt. Because it isn’t. Increasingly folks don’t even identify with the government. It’s no longer “our government”. It’s controlled by an entrenched elite that serves itself.
6) Folks are tired of being suckers watching the treasury looted, watching illegal aliens take jobs and crowd hospitals, watching politicians spend, spend, spend on programs “for the people” or “for the children” or “for the poor” - programs which rarely help anyone except bureaucrats and special interests.
7) Increasing non-cooperation with government regulation and tax law is likely to ensue. How do people respond to a government of looters? How well does Putin’s Russia work? Do we really have to go down that path?
(Excerpt) Read more at ravallicountynews.com ...
is there ever going to be a day where there is no more money, no way to print more, no way to borrow more?......is the day coming where our gigantic govt workforce will have to be severaly trimmed back?
How much will you Take?
what will it Take?
They are a bunch of Thieves
Pelosi is a traitor.
I say let these institutions go under, auto, banks, mortgages. If I make a horrible decision there is no one there to help me out.
I am a survivor. I will be just fine. Adversity is my friend, I welcome him. I will do what it takes. The rest of the country better figure it out. The whiners and crybabies better get the tears ready.
Our son believes the garbage that the economy will turn around and be all rosy in about 7 months or so like the pundits are saying. I told him that I have seen a few recessions and this is not a recession. I told him to prepare for the worse. This situation is too complicated to understand, and our representatives are not listening to we people. Disgusting. Just print more money; makes no sense.
I’m planning my escape... jungles some frickin’ jungle, some country in South America where I own the tree.
Things are working out exactly as the Marxists planned the implosion of the U.S. They are rejoicing.
Yes, this is a coup.
The banking system needs to be overhauled. The larger the banks get the more likely that they will have to be bailed by the government because they have become to big to fail. If a banking concern knows this then they don’t have to worry about risk because they know the goverment won’t allow them to go bankrupt which perpetuates the cycle.
Lending needs to be regionalized so that there are more banks spreading the risk and not allowing one bank to control so much of the market.
I have read many articles some dating back to 20 years ago predicting just such a catastrophe because we had gotten rid of protections and allowed banks to be involved in all aspects of the financial world rather than limiting then to a prescibed area or having financial limits or areas that they can deal in. Citigroup is the perfect example of this.
In the particular case of Detroit, what you have is three companies which have priced their products out of the reach of the common man and now want that same common man to pay for the privilege of not being able to afford their products. I’ve always wished that the world owed me something like that...
Those amounts will swamp us, our children, their children, and ... on and on. Imagine the impact on the US "standard of living" metric; today and in the future. Watch, for example, the growth in unemployment numbers.
That debt burden is now un-redeemable under "current" rules.
Now, one "out-of-the-box" way to get started "fixing" this reality ... very short-term, but very, very messy. Put in priority order those nations that hold our "debt" (those foreign trade imbalance thingies, etc.) and go to war with them to liquidate that debt. [Of course, this assumes that victory is a "slam dunk", otherwise - never mind.]
Those "unfunded liabilties" - a tougher problem, yes? But, US internal politics has been shown to be a real problem-solver here, so not to worry. Timing, however, and evidence of corrective measures will remain vague if histroy serves, pending passive oversight.
Or, some such ramblings; side-effects of such action(s) are undetermined - but, then, Kartina exposed some gaps too. Who knows, a welcoming as liberators was "sold" before and the "unexpected" happened.
Okay. 7.5 TRILLION in bailout money.
Of course that money does not exist. It has to come from somewhere. They Government does not HAVE money. The Government does not PRODUCE/EARN money. The Government either prints money or takes it from the citizens in the fiorm of taxes. So basically this article is saying that the Government is going to have to steal another 7.5 TRILLION dollars from the producing taxpayers in America for these Government bailout plans or if we do not go along with that they will simply deficit spend (borrow from themselves) and add this 7.5 TRILLION dolars to the already 10 TRILLION dollars of the National Debt.
Does any of this sound good to you?
"Death to America. But for us, money for nothing, and the chicks for free."
“7.5 Trillion in bailout money”
The article is outdated. Paulson added another $800 billion yesterday. Up to 8.3 trillion.
If all this is true, how come we just had an election and Obama is President and both Houses are controlled by corrupt thieves?
>If we think that this is looting if/when (being that most likely Obama isn’t even a citizen)the Dems get in with all that mainly unchecked power I see them siphoning off millions, if not billions into trillions into their own coffers and pockets.<
What do you think Bush and Paulsen are doing?
>Things are working out exactly as the Marxists planned the implosion of the U.S. They are rejoicing.<
This is the New World Order coming to town, thanks to Bush and his leaving the gates open for them.
The Democratic and Republican Parties have become merely opposite wings of the same bird, and it’s the American people who are getting the bird as our elected officials serve their corporate masters and the special interest groups that dominate both parties.
Lou Dobbs
>Yes, this is a coup.<
We’ll see it America is taken without a shot being fired on Dec 5th. when the SCOTUS decides if Zero is a citizen. I received an email this morning saying”
Posted by a lawyer at www.indexcalls.com .
QUOTE:
A person who was employed at the Hawaii Health department has gone public with the proposition that he or she looked at the vault documents when the issue first came up during his campaign for the Senate in Illinois against Keyes; there are two pieces of paper. The second piece is a copy of his actual birth document at Coast Hospital at Mombasa in Kenya.
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