U.S. Waves Goodbye to Prosperity and Democracy

U.S. Waves Goodbye to Prosperity and Democracy

business.theage.com.au

THE events of the weekend begin the greatest intervention in the US economy by the Federal Government since the Great Depression, with the Bear Stearns rescue but a splutter on this road we must now travel.

If you were wondering what all the flag-waving at the Republican convention has been about, it is now clear. Americans are waving goodbye to the prosperity the nation has enjoyed since the Great Depression and a final goodbye to democracy. But while preparation for the most important decision made in the nation's post-depression financial history towered above the conventions, I don't think the fate of Freddie and Fannie and the remaining government-sponsored enterprises (GSEs) was mentioned during either convention.

(visit the link for the full news article)



[edit on 8-9-2008 by DimensionalDetective]

Uhh, we have been waving bye-bye to prosperity and democracy for YEARS now, this is just the final nail in the coffin, with the dirt being shoveled upon us.

We are officially ran by criminals, who scratch the backs of other criminals, and extort us like a giant mafia running through our neighborhood, cleaning out our already empty cash-registers.

Nice to see that we tax-payers can keep funding all of this illegality fellas! Keep picking our pockets! I'm sure we'll be funding your plethora of upcoming wars and invasions as well!

Paulson "briefed" John McCain and Barack Obama on the "plan". The fact is that while America, and the world, wait to see who will govern, Mr Paulson has decided to take matters out of the politicians' hands.

They willingly agreed. The ultimate political power, to spend taxpayers' money, has been tossed away. Obviously the economy is too important to be left to the politicians. Instead it is to be put into "conservatorship". It has come to this.

business.theage.com.au
(visit the link for the full news article)

[edit on 8-9-2008 by DimensionalDetective]

Well, not me individually.


I've been welcoming the increasing prposperity that I have been enjoying over the last decade.

It's been difficult, don't get me wrong. But my life has gotten better and better.

funny how they have hundreds of billions lying about when they want to start a war but when people need a doctor or a house for there family the cupboards are bare...

reply to post by Quazga


One thing I respect about you Quazga, is that even though you and those around you have prospered well, you are still aware of the suffering and strife of those outside of your circle, and have spoken up about it. Bless you for that, for many sitting high atop the ladder would just poo-poo that anything was wrong.

reply to post by DimensionalDetective


I can not get the links to work DD,

I am very interested about the last link the one that tells about Paulson taking matters of economical affair out of the hands of political candidates.

This actually very troublesome, since when now the federal research government over the elected for the people politicians.

This smells like a rat or either the fat rats do not have to hide anymore.



[edit on 8-9-2008 by marg6043]

reply to post by marg6043


Thx for the 411...Link is fixed.

I think the ENTIRE monetary establishment is beyond crooked and corrupt. It's just finally come fully out in the open how blatant and in-our-faces it all is.

reply to post by DimensionalDetective


No... bless you double d. You are truely special fo bearing the weight of the world on your shoulders alone.

You alone see the pain and suffering that this shameful form of government run by these nazis has wrought.

Listen up. If we did not take over Freddie and Fannie, the banks that allowed this travesty to happen by loaning F red and Fannie cash would fail. That in turn would cause a run on a wide swath of banks causing a full depression.

LIBERAL governement officials Barney Frank and Ferdinand St Germain put the LOAN GUARANTEES into the bills allowing the banks, uo to $100 k, to say..."Hey, the feds will pay off if these loans fail." Follwed up by ACORN (your beloved OBAMA's group) to force the end of REDLINING. Forcing the banks to give bad people loans.

Pull your head out of your anti governement behind for at least a brief moment to see reality.

Originally posted by DimensionalDetective
reply to post by Quazga

 

One thing I respect about you Quazga, is that even though you and those around you have prospered well, you are still aware of the suffering and strife of those outside of your circle, and have spoken up about it. Bless you for that, for many sitting high atop the ladder would just poo-poo that anything was wrong.

DD, yep. I'm currently supporting several portions of my family. At 35 I am the wall that insulates most of my family from homelessness.

The issues you speak of are real. I see them everyday.

I am a manic optimist who doesn't believe anyone (read crazy), which allows me to keep going and seek opportunities where others wouldn't expect them. This is the biggest secret to my success. In other words "There is no Spoon".


But I do have to admit, that this is a perspective that is not a common one. And because of that, there IS, as you stated, plenty of suffering.

I do my part to alleviate it where I can, and prevent it where I can. I can only hope that it has a lasting impression on my family and the generations that come afterward. This is actually the reason d'etre behind my motivation to succeed.


[edit on 8-9-2008 by Quazga]

Originally posted by DimensionalDetective

U.S. Waves Goodbye to Prosperity and Democracy

typical gloom and doom whinery...

want real economic devastation?

lets increase the tax burden on mr and mrs america like they havent seen in ages...

yeah, obama knows what to do, his vast wealth of experience as a leader is really showing!

and by 'vast wealth' i mean vacuous lack...

like putting all our energy eggs in a hypothetical, gee i hope it works one-day, alternative energy basket...

reply to post by crmanager



And you take your firmly implanted lips off of Uncle Sam's backside as well smart guy.

So in other words, according to your genius logic, all of the tax-payers who are going to get saddled with the bill of bailing out this FRAUDULENT enterprise, should NOT worry about it?

Uhh...okay.

Another one of those, "there's nothing to see here folks, everything's okay" nonsensical posts...

Another article on this "terrific" deal that "nobody but DD" sees the wrongness in...

Taxpayers take on TRILLIONS in risk in Fannie, Freddie takeover

WASHINGTON — The unprecedented federal takeover of mortgage giants Freddie Mac and Fannie Mae announced on Sunday is a bold attempt to stabilize financial markets and restore the faltering housing market, but it thrusts trillions of dollars of risk directly onto taxpayers' shoulders.
"You can call it a bailout, you can call it a safety net or you can call it a rescue package, but the bottom line is the American taxpayer is left footing the bill," says Richard Yamarone, director of economic research at Argus Research.

Continued:

www.usatoday.com...

reply to post by DimensionalDetective


I see what he's saying and I see what you're saying... and I partly agree with both of you, convoluted as that may be. I agree with you, DD, when you say we've been hijacked and setup. The taxpayer is getting bent over a barrel to pay a bill that many of them didn't help run up or reap any benefit from. Similarly, I see that if these banks are just allowed to fail it will start a chain reaction in which every tax payer (and non-tax payer) in America will be hit insanely harder than they are under paying for this bailout. At least here we're looking at a debt to pay off over time, if the entire system collapses, as it would if these banks imploded, we'd all be hit with destitution. That wouldn't just represent a debt, it would represent full insolvency of our nation's economy for quite some time... it would also go world wide.

Personally, I'd rather we'd never been taken down this path to begin with. Then we wouldn't be stuck deciding between taking a stick with a nail in it up our rear ends or getting needles jammed into our eyes. The fact, however, is that we are down this path and we have to deal with it. I'm being honest when I say I'd rather stick my children with a debt down the road so they can grow up in relative comfort now than put them through hell now with no guarantee of our economy rebuilding fully during their lifetimes. We're paying for the previous generations' mistakes right now, so it isn't like it's the end of the world to accept the fact that sometimes kids have to pay their parents' & grandparents' bills years after the debt is incurred.

Sounds to me like the intention all along was to let the economy slide, so that a federal buyout of loan and mortgage centers could be justified.

Makes sense to me, but I could be missing something.

Taxpayers give the government their taxes to keep the government owned companies running...
and the interest on the mortgages and loans go back to the government again.

One heck of a way to keep control over your populace, when your government is the one you're paying for your house and loans.

So much to say about this and so little space well here I go.... We all know that the financial situation is going to get worst. Im thinking that the government involved itself in MAE and MAC just so it can buy some time.
I say this because global economy seems to suggest another global war comming real soon. I say this simply out of fact that every major war always had an economical incentive. Our economy is driven by war since we need periodic boosts in productivity for profit and growth.

From what I read, we are all the ones being had. We work for money and familly, and this in turn helps some ill minded twisted people towards power over all of us.

We are indoctrinated to believe that money has value, when in fact it does not (no gold backing it up), We are led to believe that borrowing from visa is legal, when they started out with no money lending people simply numbers. We are led to believe that we are free men and women, when fear strikes everyone and drugs are brought into north america by the people we elected. We are led to believe that we should hate our human brothers in another nation (example russia vs USA).

So I ask you who is the real devil in this story? There is no way around this we must eventually come to the conclusion that things need to be changed, economy must be revised, governing as well. Look at what happened when one man grabbed power for 8 years. Look at the devastation of this mans acts. How can you not wonder why this has happened and will continue to happen?

When you think about it we all get influenced by MSM, instead of trully listening to one and other. The average joe, does not fear his neighbor, he sees him every day and understands that he is a part of his community. that we are all here and that we are not all equal in physique but we all have the same potential. Well thanks to all of you here, I can say that I deny ignorance. I can also say that when the time comes I will helps my fellow neighbors. I will also eventually deny evil of its paws and help others in their fight. This is what I really think about humanity at present time. Sorry for being blunt....

Humanity will kill itself over the next 10 years if nothing is done,

Humanity's fate is sealed if it doesnt overcome stupid bondaries like race, color, group mentality, politics and money.

Humanity is not ready for the whole truth. Because its enemy is mostly itself.


Truly respectfully yours
kpxmarmott

reply to post by johnsky


Yes but somebody else in a corporate run by elites government is taking the profits and you bet that is not the bailing tax payer worker.

We work pay taxes and then somebody else sit in their fat big back sides and collect the profits.

Interesting that instead of us getting a bail out of our own money we get to pay the outrageous deficit that keeps growing as we are served with the tag.

So our for the people elected government keep bailing their own.

reply to post by DimensionalDetective


DD and Burdman are not the only ones that see the consequences of this bailout. As soon as I heard about it today it go me fuming. I griped to my G/F (who has quickly come to agree in most political views with me ) about this and then hoped there would be some convo on here of people that agreed with me.

Burdman is correct that we HAVE to bail these two out. To not do that would be financial ruin for us all. I will have to take it with my hands around my ankles while my money goes to help those who made horrible investments. Bear Sterns, Fannie, Freddie.... What is next? No example has been made. All major corporations see there is no risk in investments since they will just get a bailout.

An example must be made. Bail them out, break them up, and then tell them they are on their own. NO MORE BAILOUTS! PERIOD.

spend billions to save perspective trillions a bad move i think not

I would not be surprised if we find ourselves in the midst of future tax revolts as a result of the expected payoff for people that conduct nothing more than siphoning programs for the ultra elite in corporate culture, so they can get the government to create all this money then shift the expenses over to the general public after a few executives walk away without any punishment for their deeds. Also, when the government gives something to the average person they attach all kinds of social repercussions and rules or terms and condidtions, but when it maybe somebody on wall street these rules don't exist. If you or I borrow 100,000 dollars and then send a bill to the Dept. of Treasury we would go to jail, these people do the same and then have the audacity to claim they will save the "market"? Yeah maybe the markets for their friends multi millionaire lifestyles. Or maybe the markets they magically save that they caused to fail in the first place as well as the theories about how it all works for the "free market" as if by saying these words one can invoke religious reverence for something which by their actions no longer seems to exist in the country.

Well, at least we're not overreacting.