National Fiscal Suicide

The Stimulus and the Bailout it seems like allot of money. Does anybody have a grip on that money? I think you would need a building full of accountants just to have a clue were it’s all going and who is going to pay for it all. I have only their word that people with law degrees and no real world experience know how to fix everything. Please forgive me if I am skeptical about the ability of lawyers to fix anything. Daniel Hannan said “it’s difficult for elected officials to say a situation is beyond their control”. The government is supposed to govern! For the government to be all things to all people is national fiscal suicide. They spend money like there is no tomorrow and print money as if the dollar has some intrinsic value which it does not. Obama, Pelosi and Reid are driving this nation to the brink of a nineteen-eighties like fiscal disaster. I lived through the nineteen-eighties and it was a nightmare. The “spenders” have already begun to drive the nations bond rating down.

There are those that believe that the government can take a dollar from someone’s pocket and give someone a dollar; a zero sum gain. There is no zero sum gain, after all remember that building full of accountants. If the government gives someone a dollar it has to take two dollars from someone else; a net loss. If fiscal imprudence drives down the bond rating this net loss becomes even worse because interest rates go up. I have no doubt that irrational spending can give the economy a temporary boost. A person can get some new shiny thing with a credit card; but, at the end of the month, the bill comes due.

I’m not saying that I agree with everything the “Dissenters” (Daniel Hannan, Ron Paul and Michael Scheuer) say; but you should listen to these people. Some of what they say makes more sense than anything the “Spenders” are saying.

“You can not carry on forever squeezing the productive bit of the economy in order to fund an unprecedented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of dept.” Daniel Hannan

“Congress is behaving like drug addicts who must hit rock bottom before they are ready to face reality.” Ron Paul

“Israel and its American supporters have made discussing the issue of Israel difficult and politically dangerous in the United States. A term that is never defined as "hate speech" is the epithet "anti-Semite," which is so often hurled at Americans by Americans to preempt debate on the U.S.-Israeli relationship.” Michael Scheuer

I had considered that we should keep our industry and outsource our government. It seems President Obama has beaten me to it as he has placed the White House under the control of the Israeli Defense Force. Some might like to think that our unholy crusade against Islam is a separate issue all together; they are wrong! The fact is that tanks are not economical; jets use more fuel just to get off the ground than your SUV will use all year and the cost of our war is a major factor in our national fiscal suicide.

"Against the insidious wiles of foreign influence … the jealousy of a free people ought to be constantly awake, since history and experience prove that foreign influence is one of the most baneful foes of republican government. But that jealousy, to be useful, must be impartial, else it becomes the instrument of the very influence to be avoided, instead of a defense against it." George Washington 1796 (I hope you know who he is)

Bailout

My-my; and today they want you to donate $750,000,000,000 to the rich and mighty! My God, how did we get here? In 2000 after claiming credit for the good economy for 8 years Bill Clinton had lead us into a recession. In 2001 desperately trying to get out of this recession Bush cut taxes and the fed lowered interest rates. The fed did get little extreme. The classic formula worked but many Adjustable Rate Mortgages (ARMs) were based on historically low interest rates. Furthermore both Republicans and Democrats were pushing for greater home ownership. What happens when you stretch a rubber band too far?

Fast forward a couple years. Rosy predictions for the Jews war turned out to be...... With the government borrowing money at an insane rate and higher gas prices causing commodities inflation the fed had to raise interest rates...allot! What happens when a diver comes up to the surface too fast...the bens. People knew the interest might raise a couple points but when their mortgages adjusted they adjusted for a 5% change in interest rates!!! This was a hard knock for people who gave themselves plenty of leeway. For those whose mortgages were already on the edge (sub prime) this must have been a desperate situation.

But only a small percentage of "sub prime" loans went bad! Since the margin for these loans was only a few percent, a small percentage of failures started the dominos falling.

What of these top executives who are so smart that they are worth hundreds of millions of dollar$? Nobody is that smart. These multy-million dollar executives made the same mistakes that the average, financial illiterate made; and yet, still walked away with millions of dollars. This is the problem! Even if everything ends up rosy and the government gets the taxpayers money back we are still stuck with the same business royalty. We have in-fact developed in this country a business aristocracy no different than the British gentry or the French aristocracy. These royal executives are stupid, lazy, dishonest and useless. Consider a man who is paid $400,000,000; could he not afford his own accounting firm, just to double-check the numbers? These financial collapses are ugly and painful; but, it's how the system rids itself of parasites!

Is there anyone that believes the Jews ( AIPAC) did not push the Iraq war? Is there anyone that believes the government can borrow $1,000,000,000,000 and not effect interest rates? Is there anyone that would like to buy a bridge to New York City (in Brookland), cheap?

The proper way to promote home ownership is with limited government, low taxes and low government debt. Low taxes encourages a robust economy. When we borrow money we have to compete with our government, the less money the government borrows the better for us. Blatantly ignoring market realities will always come back to haunt us.

I don't know; the more I hear of this bailout, the less I like it. Nobody is going to bailout me. Now that we are all depressed let me recommend a bailout for the libito:

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