Congress: Please Stay Home

AmericanThinker.com ^ | September 30, 2008 | Randall Hoven

[Man50D]

I'm going to go out on a limb and make an economic prediction: if there is no bailout, the economy will keep muddling along without even entering a formal recession. The Dow will stay comfortably above 10,000 and real GDP growth will stay positive.

Drudge has posted two significant articles. The first from CNN explains that there is no catastrophe and that we should do nothing but let the companies that screwed up go bankrupt, and then fix what government broke in the first place, primarily Fannie and Freddie.

The second article from the National Post points out why we should be fighting the bailout tooth and nail. It reminds us that the fifth point in Karl Marx's Communist Manifesto was the "centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly."

Everyone from Germany and Japan to Australia is screaming for the bailout to be passed. (We suddenly have friends around the world again, now that we might toss a trillion dollars out the window.) Yet no one can explain the cause and effect relationships in any of this. If you haven't noticed, 75 years hence our experts still cannot explain the cause of the Depression.

For once, Harry Reid was right, when he said, "no one knows what to do." They still don't. In fact, they never did and they never will. The bailout is based on nothing other than the maxim "Don't just stand there, do something." Herbert Hoover followed that same maxim and turned a recession into a Depression. And funny thing: every time they "do something," it enacts another point of Marx's manifesto.

Housing prices might have fallen about 20% from the peak of the housing bubble . I'm having trouble believing that a 20% drop in value in one sector of the economy of one country, from a peak that was artificially high in the first place, will lead to a global economic catastrophe -- a catastrophe that can only be avoided by taking a trillion dollars from people who earned it and buying "troubled assets" with it.

There is no real crisis, except one of fear. Fortunately, the population is not buying it. Funny how "leaders" are always warning us against panicking. Who's panicking now? The leaders are in a panic, and Main Street is telling Congress to stay home. I'm with Main Street. Stay home, Congress. Isn't there Ramadan or something you need to honor?

As I write, Congress is taking the day off and the Dow is up 371.

[Man50D]

The second article from the National Post points out why we should be fighting the bailout tooth and nail. It reminds us that the fifth point in Karl Marx's Communist Manifesto was the "centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly."

Along with that $700 million comes a host of regulations and stipulations that would further destroy our free market system with more socialism beyond what Congress has done in the past and will impose more control over the people by the select few in Congress. The best plan is to let capitalism to run its course.

[screaminsunshine]

And Bush says Americans can save the country..Go shopping and get some more credit cards.

[Racer1]

Home prices here in central PA haven’t had much if any price drop as far as I can see. I guess we could ask the question about some of these areas, prices have dropped from where? Some of the prices of these homes toward the end of the cycle were way to high. About like $150 oil.

[C210N]

The first from CNN explains that there is no catastrophe...

And then CNNFN shows a telephoto shot from afar for Øbama looking at a closeup picture of McCain, with the title of "Inheriting a Mess".

[ExGeeEye]

I believe the sky is actually rising.

[ballplayer]

McCain should read this article ,the guy is blowing it big time , the American people want a fighter ,this guy is Wimping out .
I hope that at least one thing is learned in this election, and that this crap about the people want us to work together ,they want us to get along is put to rest when the Champion of this Bullshit ,John McCain is rolled over in a Landslide

[Hardastarboard]

the fifth point in Karl Marx's Communist Manifesto was the "centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly."

We already have this. What does this author think the Fed is, anyway?

[wolfcreek]

Sen. Barry Goldwater wrote in his book With No Apologies:

“Does it not seem strange to you that these men just happened to be CFR (Council on Foreign Relations) and just happened to be on the Board of Governors of the Federal Reserve, that absolutely controls the money and interest rates of this great country. A privately owned organization ... which has absolutely nothing to do with the United States of America !”

Plain and simple, the Federal Reserve is not part of the Federal Government. It is a privately held corporation owned by stockholders. That is why the Federal Reserve Bank of New York (and all the others) is listed in the Dun and Bradstreet Reference Book of American Business (Northeast, Region 1, Manhattan/Bronx). According to Article I, Section 8 of the U.S. Constitution, only Congress has the right to issue money and regulate its value, so it is illegal for private interests to do so. Yet, it happened, and because of a provision in the Act, the ‘Class A’ stockholders were to be kept a secret and not to be revealed. R. F. McMaster, who published a newsletter called The Reaper, through his Swiss and Saudi Arabian contacts, was able to find out which banks held a controlling interest in the Reserve.

These interests control the Federal Reserve through about 300 stockholders:
Rothschild Banks of London and Berlin
Lazard Brothers Bank of Paris
Israel Moses Seif Bank of Italy
Warburg Bank of Hamburg and Amsterdam
Lehman Brothers Bank of New York
Kuhn, Loeb and Co. of New York
Chase Manhattan Bank of New York
Goldman, Sachs of New York

http://www.modernhistoryproject.org/mhp/ArticleDisplay.php?Article=FinalWarn02-3

[Grampa Dave]

Perp walk and then tar and feather any $inator or Congre$$it that votes for these terrible bailout plans!

Here is another poll that the $inators/Congre$$its might want to consider before they get tarred and feathered:

Ongoing AT&T/Yahoo poll on the bailout:

http://js.polls.yahoo.com/quiz/quiziframe.php?poll_id=39543

Do you want the $700 billion bailout to be passed? Results
Q. Stunned by a House defeat on Monday, supportive lawmakers along with President Bush are again warning that if the proposed $700 billion bailout plan to buy bad mortgages and other “rotten” bank debts is not passed quickly, America — and the world — is vulnerable to a serious recession. Critics and protesters say the current plan does not include sufficient oversight, and taxpayers should not be put on the hook for the staggering price tag.

What do you think? Should the $700 billion bailout be approved?

Yes. It may not be a perfect plan, but we must take action. 23%

No. I think we need a plan, but this bill still needs work so taxpayers can be protected. 39%

No. I don’t think we need any plan. The markets can right themselves without our intervention. 35%

Not sure/No opinion 3%

33347 votes