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Bailout Can't Hide It-The U.S. is Broke

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posted on Sep, 27 2008 @ 10:27 AM
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Bailout Can't Hide It-The U.S. is Broke


www.theday.com

All the same, even if it can work - that is, prop up insolvent financial institutions - the Treasury's proposal is still a proclamation of the collapse of the whole U.S. financial system. Even if some financial institutions are saved, the collapse will manifest itself in other ways, probably ways more damaging to the public. For who cares if Goldman Sachs and Morgan Stanley endure if the issuance of $700 billion more in government bonds drives interest rates way up, diverts credit from the private economy, devalues the already sinking dollar, and sends commodity prices soaring again?

In that case the financial class will have won another battle in its long war against the producing class. It will be again as was said about the maneuvers of the Second Bank of the United States two centuries ago: “The bank was saved; only the people were ruined.”

(visit the link for the full news article)




posted on Sep, 27 2008 @ 10:27 AM
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This is so true...I can't believe that ANYONE can still believe this ludicrous bailout of these fraud criminal billionaires is going to do ANYTHING to better the situation for anyone BUT them. This entire deal is like being held up and mugged, when you already have no money. These elitists, and their puppets--The U.S. gov---Have GUTTED this nation financially. For them to even CONSIDER giving the same criminals who are largely responsible for this another $700 Billion (or more) is simply TREASONOUS.

*SNIP*

www.theday.com
(visit the link for the full news article)


Mod Edit: Breaking News Forum Submission Guidelines – Please Review This Link.

[edit on 27/9/2008 by Mirthful Me]



posted on Sep, 27 2008 @ 11:15 AM
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Does this mean I won't be getting my tax refund next February? Or if I do, that the check will bounce? Better go change my W-2 to claim 40 dependents while I still can.



posted on Sep, 27 2008 @ 11:34 AM
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reply to post by DimensionalDetective
 


HERE HERE! I could not agree with you more. Anyone who votes on this bill should be strung up from the nearest lamp post!



posted on Sep, 27 2008 @ 12:24 PM
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Originally posted by DimensionalDetective
This is so true...I can't believe that ANYONE can still believe this ludicrous bailout of these fraud criminal billionaires is going to do ANYTHING to better the situation for anyone BUT them. This entire deal is like being held up and mugged, when you already have no money. These elitists, and their puppets--The U.S. gov---Have GUTTED this nation financially. For them to even CONSIDER giving the same criminals who are largely responsible for this another $700 Billion (or more) is simply TREASONOUS.


I agree. I say we should seize the assets of the billionaires who profited from the corruption and use that money to straighten it out. Not more tax money from the working class.

If I ever starve, maybe i will hunt down the wealthiest people I can reach and make soup out of them to feed my kids.


Mod Edit: BB Code.

[edit on 27/9/2008 by Mirthful Me]



posted on Sep, 27 2008 @ 06:02 PM
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This is absolutely Right

We've been having gradually larger bailouts all year

It doesn't change a thing in the underlying problem

It just funnels more money to the Plutocrats while they still can



posted on Sep, 27 2008 @ 06:20 PM
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reply to post by tsEnigma
 


Here is the most accurate assesment of the current situation....IMHO

"The US Banking Collapse was a Controlled Demolition"

www.noonehastodietomorrow.com...



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