I have been talking about the collapsing US economy for years (before this blog existed) but the way in which Paulson and Bernanke are trying to pass this bailout bill has caused me even greater concern. After years of saying the credit crisis was contained and no big deal, all of a sudden they want to ram through Congress in a matter of days near dictatorial powers for the executive branch? The power to spend unlimited amounts of money with no oversight? They admit the bill was written months ago, so why the haste? As obvious as the pending collapse was to see, the repulsive scent of fraud and corruption is obvious to smell. Did they really believe they could handle the situation, or is this actually proceeding exactly according to plan? There is something we’re not being told about their true objectives. I don’t trust it for a second.
What is the Federal Reserve? A banking cartel. Explanation below.
FDR steals the people’s gold, and ends the gold standard.
Nixon ends the Bretton Woods agreement.
Last week I learned from another person that a friend of mine wants to buy a motorcycle. Silly practical me, I asked if it was because he wanted to save on fuel costs… which resulted in some laughter. No, he just wants to be cool. What does “cool” mean, anyway, and why do people want to be it so badly?
I am naturally repelled by “cool” things. I liked SUV’s until they became cool. I liked Apple computer until they became cool. When I was 4 or 5 years old I used to tell people my favorite color was yellow… I actually hated yellow, but I chose it because everybody else hated it too. What does that say about me?
All the headlines last month were “investors flee commodities as the financial storm stokes fears of recession and a flight to quality,” now they are all saying “investors flock to commodities as the financial storm persists and intensifies a flight to quality.” Do people still take business reporters seriously? These guys don’t have a clue.
There was no commodities bubble, there were forced sellers. There is a ton of inflation and the only thing worth owning right now is precious metals and oil. Soon, we will be including Asian stocks and agriculture in there as well.
…That sounds familiar. Oh yeah, NOTHING HAS CHANGED.
I read an article the other day, don’t remember where, that claimed conservatives are more susceptible to being startled and more fearful people in general, while liberals are more relaxed and easy-going. Supposedly, this explains the reason Republicans tend to take threats and terrorism more seriously — ignoring the obvious fact that many (if not most) wars are started by Democrats. It doesn’t make sense for many reasons, most obviously because liberals have a hundred other threats at the top of their agenda: environmental damage, rogue private enterprise, erosion of civil liberties, etc.
I’m sure you have often heard the saying “if it ain’t broke, don’t fix it” — something similar should have been said many years ago about the complicated financial derivatives causing so many problems today. The risk associated with mortgages didn’t need to be spread out across the entire industry, the only result such a goal could ever have accomplished is to generate huge profits for massive risk takers abusing the system of “spreading risk” by dumping their crap on everyone else.
I find it quite ironic and somewhat amusing — the first word that comes to mind when I recall conversations with socialists (by any other name) is “ego”… followed closely by “ignorance”. The irony of course is that their entire platform is based on denying themselves what they deserve in order to help others, but there is a certain element of smug self-satisfaction that comes along with believing you are sacrificing something for the greater good. In most cases it doesn’t even seem to matter whether the policies make sense, just slap a catchy slogan and a sympathy-inducing picture and you’re good to go. You can see it on their faces, “I just have more compassion.”