Last night, the President addressed the nation in regards to the current economic crisis. Message to all you politicians: Start telling us the truth! First lie from the President: “We’re in the midst of a serious financial crisis, and the federal government is responding with decisive action.” This is not a financial crisis, this is the end of America as we have known it. The downward spiral begun after World War II has come crashing down on us.
Whopper number two: “Most importantly, my administration is working with Congress to address the root cause behind much of the instability in our markets.” The root cause, eh? How about this for root causes: The invention of the Federal Reserve to toy with our money willy nilly and print it as fast as they can run the machines. How about a dollar that isn’t backed by anything of value. How about greed with no oversight. How about a country that has taught people it is okay to live outside your means and an American people who do just that. A debtor nation full of debtors equals…
Lie number three: “It will help American consumers and businesses get credit to meet their daily needs and create jobs. And it will help send a signal to markets around the world that America’s financial system is back on track.” Businesses are getting rid of jobs now. Did anybody hear that Hanes is closing down their factories here and moving to Asia? I believe it is nine plants. Jobless numbers come out later today and they will not be good. And let me get this straight, the government is going to infuse the economy with devalued money because debt has crashed the economy so that we can build more debt?! That is what you mean by supplying credit, right? And what about all those jobs in the house construction market? We haven’t even seen what that is about to do. Guess the bricklayers, electricians, constructors, etc. better train for those new green jobs Obama will be supplying.
The President then went on to explain how our economy got to this point. He went back a decade showing his ignorance about the situation. They are all looking at the surface of this issue which is really only the effects of huge underlying causes. But they don’t want to tell you about those. That is why they are attempting to distract us with all the fingerpointing at each other.
Next lie: “With the situation becoming more precarious by the day, I faced a choice, to step in with dramatic government action or to stand back and allow the irresponsible actions of some to undermine the financial security of all.” The choice was, do we become a socialist society and destroy the free market by rescuing with government action and punish the responsible people in America or stand back, let it fail and then recover.
“I’m a strong believer in free enterprise, so my natural instinct is to oppose government intervention,” the President said which is a falsehood since he has been spending like a drunken sailor. Why do you think you lost the base, Mr. President?
The President continued, “Even if you have good credit history, it would be more difficult for you to get the loans you need to buy a car or send your children to college. And, ultimately, our country could experience a long and painful recession.” Well, we already are going to hit a recession; we have been on the brink for months. And could someone explain how I was able to buy my new 2008 Hyundai Accent this weekend if this were true. The President then explained how this plan will work (it won’t!) and get credit rolling again. Again, I am outraged that my hard earned money will be taken from me and in a higher amount (they will be raising taxes) without my vote and to help bailout the greedy and irresponsible to make sure we keep the wheels of debt moving. And keep in mind that this $700 billion number is bogus as well. By the time they get done including all the little banks with their bad school loans, car loans, etc. that number will be way over a trillion. I guess they’ll just shrug later and say, “Whoops.”
Oops he does it again: “The government is the one institution with the patience and resources to buy these assets at their current low prices and hold them until markets return to normal.” The resources?! What the hell is he talking about? And it’s my resources right, not the government’s. How does he know we are all patient? Cause my patience with Washington is GONE!!!!
“And when that happens, money will flow back to the Treasury as these assets are sold, and we expect that much, if not all, of the tax dollars we invest will be paid back,” continues the President. Bullshit! Henry Paulson himself said repeatedly this week that they hope this works. There are no guarantees. And does anyone believe we’ll see much of a return.
We’ve never seen a time like this and watched banks around for more than a hundred years fail, but the President said this, “The FDIC has been in existence for 75 years, and no one has ever lost a penny on an insured deposit, and this will not change.” Uh huh. The President promised that financial laws would get updated so that no corporation gets so large it could destroy the economy. The problem is that this crisis wasn’t caused from that. Many banks and corporations failed and for many of the reasons I related above. I guess moving into a One World Economy would work out pretty well about now.
It is coming.