Saturday, October 04, 2008
Get out of the dollar as fast as you can! Economy in Total Collapse America is Bankrupted! Executive order #51 gets closer every day!
Get out of the dollar as fast as you can! Economy in Total Collapse America is Bankrupted!
You hear a lot about our $10.6 trillion debt but you Know I talk about the real debt often. You know what it was? before the bail out? $53 Trillion and with the bail out said to cost up to $1.2 Trillion our real debt is around $54 Trillion. Bush has already signed the Pork laden wall street Bail out they call a main street bail none of you will benefit from monetarily if you are in trouble financially or losing your house. As you know they fear monger constantly to get their way and if you don't believe this lie they will find one you will believe so they can follow this corruptive agenda.
As you know "This is scare tactics to try to do something that’s in the private but not the public interest. It's terrible." -- Allan Meltzer, Carnegie Mellon School of Business "It's a straight subsidy to financial institutions. You're essentially giving them money. -- Martin Baily, former Clinton Administration Council of Economic Advisers "There's a tendency for people to think these are stocks and bonds and you know what the price is. The problem is people are operating in a world in which nobody knows what the hell is going on. There’s some naïve assumptions about how this would function." -- Bruce Bartlett, former Reagan Administration economist. "This mis-administration got a $700 billion blank check to be put in the hands of Henry Paulson, a guy who totally missed this, and has been wrong about almost everything."
Dean Baker Center for Economic and Policy Research: "If Wall Street gets away with this, it will represent an historic swindle of the American public -- all sugar for the villains, lasting pain and damage for the victims." --William Greider, The Nation: : "I am concerned that Treasury's proposal is neither workable nor comprehensive, despite its enormous price tag. In my judgment, it would be foolish to waste massive sums of taxpayer funds testing an idea that has been hastily crafted." -- Richard Shelby (R-Ala.): "It sounds like Paulson is asking to be a financial dictator, for a limited period of time." --Historian John Steele Gordon: "The plan is stupid...Voters will break against anyone who votes for it. I thought if [Russian Prime Minister Vladimir] Putin had written that, I’d understand it." -- Former House Speaker Newt Gingrich: "This massive bailout is not a solution. It is financial socialism and it's un-American."-- Sen. Jim Bunning, R-Ky The massive Bailout is not a solution
You know, Michael Moore points out some disturbing facts once again! The richest 400 Americans -- that's right, just four hundred people -- own MORE than the bottom 150 million Americans combined. 400 rich Americans have got more stashed away than half the entire country! Their combined net worth is $1.6 trillion. During the eight years of the Bush Administration, their wealth has increased by nearly $700 billion -- the same amount that they are now demanding we give to them for the "bailout." Why don't they just spend the money they made under Bush to bail themselves out? They'd still have nearly a trillion dollars left over to spread amongst themselves! If satisfying the problem Bush purposely caused was the real goal they would follow Michael Moore's 10 point plan
Helping average American's is not the goal. destroying them and Bankrupting our America is the goal and you know why! This bailout will do nothing but help in the Bankrupting of America and make more borrowed money available for war! Even with a rescue plan on the horizon that is designed to restore liquidity to the credit markets, banks still opted to hoard cash rather than lend to one another Friday.
Even if the bailout ultimately works to unlock credit markets, it would potentially take time. Institutions that sell their bad assets to the government could have to sell those securities at a huge discount, resulting in large write downs. As a result, experts say it may be months after the legislation is enacted until banks start to see some relief. "It will take some time for the markets to recover - this bill will not be an overnight cure," said Peter Cardillo, chief market economist with Avalon Partners. Meanwhile, banks remained hesitant to take on more risky loans while dragging their anchors of their own troubled assets. Credit still tight after Bailout okay
The U.S. Labor Department said the nation’s economy lost 159,000 jobs in September, a sign that the picture continues to darken as the credit crunch pressures businesses. The loss was much bigger than Wall Street was expecting. Economists were looking for a loss of 101,000, according to data provided by Thomson Reuters. It was the sharpest decline in jobs since March 2003. The continued drop was not due to hurricanes
With the credit crisis cutting off access to short-term financing, California officials said the state may be forced to ask the United States government to lend it $7 billion, warning that the state could run out of money in a few weeks without it. This is frigged up
New York Gov. David Paterson on Friday pledged not to raise taxes, even as he predicted an increase in the state's budget deficit to $2 billion amid fallout from the credit crisis and recalled the legislature for a special session next month to address the economy. wall street loss nails New York
Also events like this will be more common: A 90-year-old Akron, Ohio, woman who shot herself as sheriff's deputies tried to evict her from her foreclosed home became a symbol of the nation's home mortgage crisis Friday. "This bill does nothing for the Addie Polk's of the world," Kucinich said after telling her story. "This bill fails to address the fact that millions of homeowners are facing foreclosure, are facing the loss of their home. This bill will take care of Wall Street, and the market may go up for a few days, but democracy is going downhill." 90 year old woman shoots herself in foreclosed home
The Bailout is exactly what Bush needs and is why he jumped right on signing it and then the Bastard went on vacation. All this only ensures Executive order #51 giving Bush or McCain total Dictatorial control is coming closer every day!