Posted by: rotenochsen | October 7, 2008


Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.��  —Ronald Reagan

Never was the above statement more true than the present time. It appears that the “bail-out” is only the beginning of what could be the largest government intrusion into the private business sector in the history of this once great Republic.The existing legislation is a bandage at best. Americans are closing in on three trillion dollars in consumer debt. This liability leviathan is composed of our credit card debt and personal loans for items like automobiles and college. It does not include our mortgage debt. Seven hundred billion dollars is barely a band-aid on the credit market crunch; it is not a tourniquet. source: American

If you listen only to the Main Stream media, you will believe that it was President Bush and his administration that put the United States on the precipice of a “great recession”. The television, newspapers and radio are filled with “experts” who heap the blame on Bush and say that McCain would be just more of the same.
The fact that the big LIE is wrong does not seem to impress the voting public. The truth has seldom seen the light of day except on the Conservative Internet sites like, The New Media Journal, and the Patriot Post.

“The fact that Senator Dodd and Congressman Frank did the bidding of the Left wing leaders of the Democrats who push affirmative action into the banking and home mortgage business does not seem to bother the majority of those who are potential voters.The following is an insightful analysis of the present economic status and it’s cause . It was written by a great Economist Thomas Sowell.

“It was liberal Democrats, led by Senator Christopher Dodd and Congressman Barney Frank, who for years– including the present year– denied that Fannie Mae and Freddie Mac were taking big risks that could lead to a financial crisis.

It was Senator Dodd, Congressman Frank and other liberal Democrats who for years refused requests from the Bush administration to set up an agency to regulate Fannie Mae and Freddie Mac.

It was liberal Democrats, again led by Dodd and Frank, who for years pushed for Fannie Mae and Freddie Mac to go even further in promoting subprime mortgage loans, which are at the heart of today’s financial crisis.

Alan Greenspan warned them four years ago. So did the Chairman of the Council of Economic Advisers to the President. So did Bush’s Secretary of the Treasury, five years ago.

Yet, today, what are we hearing? That it was the Bush administration “right-wing ideology��  of “de-regulation��  that set the stage for the financial crisis. Do facts matter?”

The fact that the Obama campaign promises welfare programs that will cost over a trillion dollars more than our present budget allows, does not seem to concern the majority of voters. We have become a society that I call the “gimme-gimme” generation. Use the plastic to buy now and worry about paying for it someday!

The current market turmoil is a product of every bad trait the “Boomer Elite” has long exhibited in other social and political contexts: unbridled greed and hubris, exorbitant self-regard, breathtaking recklessness, insatiable appetite for immediate gratification, and a rollicking sense of entitlement.

Our Markets work because they reward good investments and punish bad ones. The legislation’s effort to protect unsound investments seems to assume that investors will not take these protective measures into account in future financial speculations.
This quasi-socialist economics cannot and will not work. When a government nationalizes its country’s debt, it makes rational assessments of risks in the private market all but impossible. Is it risky to invest in “The Fiduciary Bank of Loans to Unqualified Borrowers?” Who knows? Depends whether or not the bank’s “troubled assets” have made the Treasury Department’s list.

Sleaze, thy name name is Government Sponsored Enterprise. The top executives of these two GSEs,(Fannie-Mae and Freddie Mac) politically appointed executives, have stolen hundreds of millions of dollars in so-called “performance bonuses” from Fannie and Freddie. Christopher Dodd, the chairman of the Senate Banking Committee, has received over a hundred thousand dollars in campaign contributions from the very GSEs he is supposed to oversee. Yet this fact will never be heard on the National TV stations news!And if it was the supporters of the “messiah” Obama, would lie about it and most would believe them. After all it is racist to criticise Obama, don’t you know?

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


%d bloggers like this: