Fannie Mae and Freddie Mac had more to do with the collapse of the economy in 2007-2008 than anyone else.  It was their granting of mortgages to those people who could not possibly pay back the loans and then securitizing those mortgages on the global financial markets that created this financial debacle that spread worldwide. 

 

Now these outstanding managers of money have decided to vote themselves $13,000,000 in bonuses for their executives and directors for a "job well-done."  The only thing well-done and getting skewered here is the American taxpayer!

 

Fannie and Freddie have gotten $141 billion is stimulus money, and along with AIG, are the only folks (out of all the financial institutions that received TARP funds) who have not paid it back.  Now these brilliant money managers are asking for another $6 billion, just for this coming quarter!

 

Bonuses have a sordid history at Fannie Mae.  Franklin Raines, Bill Clinton's budget director who became head of Fannie Mae awarded himself  $90,000,000 in bonuses over a six year period.  Let that sink in for a moment.  NINETY FREAKING MILLION DOLLARS in bonuses to one man for helping destroy the world's economies.  Why is he not in hell, or at least occupying a cell next to Bernie Madoff?

To the extent that the #occupywallstreet, #ows (Occupy Wall Street) is a grass roots, spontaneously occurring series of events; I'm wondering what did does Van Jones know and when did he know it when he said; "... I think everybody should hold on to their seats..." ? 

Protest that have "erupted" in over 1,500 cities worldwide (source) don't just happen! They are organized, they are planned, they are implemented.  The real question is: who are the planners & Financiers and who has the most to gain from this planned resistance and its ensuing chaos?/!  I guess I'm back to  what did van Jones know and when did he know it.



#occupywallstreet, #ows

Article 1, Section 8 of the US Constitution states:  "The Congress shall have the power to coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;"

Now the operative word here is "Congress" not "The Fed," not "The President," and not "Barney Rubble."  Only "Congress."  But upon urging from the banking industry and their congressional supporters/recipients of cash donations from bankers, Woodrow Wilson and the US Congress changed all that.  Thanks to a dumbed-down government-run education system, most Americans have no clue as to how or why the Fed was created.  

Forbes magazine founder Bertie Charles Forbes was perhaps the first writer to describe the secretive nature of the original gathering of bankers and politicians on Jekyll Island.  In a national publication.  He wrote:

When the Federal Reserve was created in 1913, a $20 bill could be exchanged for a $20 gold piece.

Today, it takes seventy $20 bills to buy a $20 gold piece, which means the dollar can buy in 2010 what you could get for 2 pennies in 1910.

Quite a record for a central bank set up to protect the dollar.  That worked out real well didn't it?

Now the Fed has just printed and released $600 billion in new currency to purchase our own debt.  In addition, it is adding in $250 billion from the so-called "Stimulus" bill.  It will be the largest tax increase in the history of our nation.  Why you might ask?  Because the value of every dollar you now have has just decreased exponentially.  Within two years you will see prices on goods and services increase to levels you will not believe possible.

And this tax is not a tax that was debated in the hallowed halls of Congress.  It's not a tax voted on by our elected representatives.  It's not a tax enacted by any legitimate law-making body.  It's a tax foisted upon the American people by a private corporation that has allegiance only to itself.

We have reached our Wiemar moment.  For those of you who don't know what that means, you can educate yourself here: http://preparingyourfamily.com/economy-anatomy-economic-collapse-weimar-republic/

We're all going to pay the price for our inattention.  Democrats, Republicans, Conservatives and Liberals; there will be no escape for the poor or the rich.  We will all suffer together.  Only some more than others.  The worst part is that we are going to pass this burden on to our children, grandchildren and even our great-grandchildren.  It's the shame this generation will have to bear.

Ron Paul is right:  It's time to End the Fed.

As I write this the current US national debt is more than $16,654,000,000,000.  I couldn't write in the exact number because it's increasing at more than $1 million per minute.  If you look at the National Debt Clock, the numbers are advancing so quickly you'll get dizzy watching them.  Think about that number for a second; each hour our debt increases by more than $60 million; each day it increases by about $1.5 billion; each month by $45 billion; each year by $540 billion.  Let that sink in.  We will borrow more than a half-trillion dollars this year.  Who is going to pay what we owe?  More importantly; can we?

I have two grand-daughters that are not even two-years old yet and they each owe more than $45,000 as their share of our debt.  I thought the election of Barack Obama was going to issue in a new era of fairness.  In fact he said that his tax policies weren't about revenue, but about being fair.  So my question is, how is it fair to be born owing almost $50,000 when you're not even old enough to get a job? 

That hardly seems fair to me.

Our nation is going bankrupt, of that there is no doubt.  Yet, our Congress and this administration seem hell-bent on spending even more money while they promote policies that destroy jobs that will ultimately be needed to finance this growing debt.

Minute-by-minute, hour-by-hour, day-by-day, the clock keeps ticking.  Like a time bomb it's set to go off.  The only thing is that no one is really sure when that will happen, yet we continue to feed it voracious appetite.  So is it just me, or does this sound like insanity?  It's either that or whoever is driving this bus knows exactly what they're doing as they steer us over a cliff.

And that's not insane; that's evil.

You keep hearing from the autocrats in DC that the Republicans are the party of "No" and that conservatives have no plan to stimulate the economy.  Well, either they're not paying attention or they're lying.  Guess which one I'm betting on.

 

Here's are five good ideas from the party of NO:

 

 

Congressman Jordan (R-OH) and Congressman Jason Chaffetz (R-UT) have introduced H.R. 5029, the Economic Freedom Act, a plan to unleash the power of America's private sector economy.

 

The Economic Freedom Act would terminate the TARP and repeal the remaining stimulus, replacing them with a real stimulus plan to create jobs by:

 

Reducing The Payroll Tax by Half for 2010

 

Providing immediate stimulus by increasing workers' paychecks and improving the bottom line for employers.

 

Eliminating The Capital Gains Tax

 

Encouraging the risk-taking and investment that is at the heart of the entrepreneurial spirit.

 

Reducing the Corporate Tax Rate to 12.5%

 

Improving America's competitiveness in the global market and providing incentives for expansion and job creation.

 

Permanently Eliminating the Death Tax

 

Ensuring that small businesses and family farms, the engine of our economy, will continue creating jobs for future generations.

 

Providing Immediate Business Expensing

 

Encouraging long-term reinvestment in business, increasing competitiveness and creating jobs.

 

 

I could add a few myself:

 

 

Get rid of the Departments of Education and Energy

 

Both are utter failures.

 

 

Get rid of all the Czars and their staffs

 

Let freedom ring.

 

 

Sell all non-essential federal lands

 

 No foreign ownership allowed.

 

 

Put a freeze on all non-essential government hiring and on federal wages

 

Privatize the US Postal Service

 

UPS and FedEx do a much better job and cheaper.

 

 

Eliminate foreign aid

 

 It's time for some personal responsibility.

 

 

Eliminate earmarks

 

Reduce American Armed Forces presence throughout the world

 

We have a heck of a navy and air force, we don't need that many boots on the ground.

 

 

Balance the budget

 

We can't spend more than we take in.

 

 

No new entitlement programs, no expansion of existing ones

 

 

Eliminate duplication of programs

 

 

End the Federal Reserve

Drill Here, Drill Now

 

Repeal the 16th Amendment, close down the IRS and institute the Fair Tax.

 

No more punishment for hard work.

 

 

Any law that's written must pass the constitutional smell test 

 

Each bill must have the applicable section of the US Constitution that supports its validity.

 

 

Elect STRICT Constitutionalists

Gee, you mean we could actually follow the law?

 

 

Now that doesn't sound like there are NO ideas to me.

 

President Barack Hussein Obama this morning touted the increase of 431,000 jobs reported for last month, as a sure sign the economy is coming back strong.  Well, here is where we are going to have those pesky little facts jump in and ruin everything; yet again.

According to a media reports, there were 431,000 jobs created, 390,000 of them were government jobs.  That means only 41,000 jobs were created in the private sector.  "What's the difference?" you might ask, "A job is a job."  Wrong.  There are only two ways to pay the wages of a government worker; through taxes or by borrowing money.  It's estimated that it takes five private sector jobs to pay for one government job.  That means that we are way upside down on this one.  So the only way to pay for these jobs is to borrow more money.  We are already more than $13 trillion dollars in debt.   And that's not including the unfunded liabilities, i.e., social security, medicare and medicaid.  So, does it make sense to add to that debt?  Each TAXPAYER is already in hock for over $100,000 each.  Are you willing to try for $200K?

You say, "Oh yeah, well don't government workers pay taxes too?"  Sure, but you would have to take 100% of these workers' wages to pay for their jobs.  Even if most of these folks just sit around all day, they still want to get paid for doing nothing.  That's the American way!  Oh, sorry.  I didn't mean to infer there were lazy Americans sucking up free money while they did little or nothing to earn it.  Not!

In any event, you would still have to make up the difference from private sector wage earners.  Sounds like more wealth re-distribution to me.

On top of that, these jobs, which are census workers, are temporary.  They will shut down at the end of the year.  Then what?  These 411,000 will be out of work and applying for unemployment benefits that the government will have to pay out by either collecting more taxes or borrowing more money.  Does anyone see a pattern here?  More wealth re-distribution.  It's unsustainable.  We know it and so do our lawmakers.  But let's not let facts get in the way. 

We've lost 2.2 million private sector jobs since Barack Hussein Obama took office.  Hiring more government workers is not a cure for 10% unemployment.  If it were, we should just shut down private businesses and let everyone work for the government.  Sounds crazy right?  Well it is.  So please tell me, why is that where we are headed?

Government does not create wealth.  It destroys it.  If you don't believe me, just look at some of those pesky little facts.  They're everywhere.  You just have to look. 

But first you have to open your eyes.

"You will be assimilated - resistance is futile"; so says the Borg, "old Europe" and all the like minded union 'hired ruffians' who believe that collectivism is the proper antidote for Personal Responsibility, Individual Liberty and Freedom.

 

While at the G20 Summit, 'Dear Leader Reader' gleefully multi-tasks by vilifying Americans here at home and by giving away "the store" abroad by pledging our (US) tax dollars to a confederation of globalists, unionists, communists and despots all focused on DECLARING AN END TO FREE MARKET CAPITALISM.  source

Lest, we veer off into the tall grass, when you read 'the end to capitalism' you should be thinking to yourself; "the end of private property"!  And, you should be thinking that; "this means the end of America as we know it and as it was founded".  

 

As bequeath to us by our creator, and through precedent from our common heritage with British Mercantilism of the 16^{th -}19^th centuries, we hold to the distinct notion that each person owns his or her own labor and therefore is allowed to sell the use of that labor to an employer.  

 

Those who believe in state managed economies do NOT believe that that you are allowed to sell the use of your labor! Instead your labor belongs to the state and should be directed toward the state's purpose rather than your own purpose.

 

While there are many places in the world where you can live in a state managed economy, the idea that some one else owns YOUR LABOR has been antithetical to our founding, our constitution, and the very freedoms granted by our Creator.

 

So in case you think, that the conversion of American from capitalism to socialism and the giant welfare state won't affect you think again:

Vae Victis - Woe to the Conquered!

 

Porkulus, revocation of existing tax cuts, usurpation of individual liberties and now - drum roll please - the mortgage rescue plan.  

 

Attempts, each one, to use the US tax code to affect social change rather than good tax policy. So now we see the nature of 'Hope and Change' in our Obama nation and it comes through the cudgel of retribution.

 

We now have 'dear leader' and the US government openly engaging in financial jihad against our own citizens  by punishing everyone who has worked hard, exercised personal responsibility, played by the rules, provided for themselves and family without government assistance in the name of equality. 

 

"... our fathers brought forth on this continent a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal..."  All this, so that nearly 8 scores later, the hard earned fruits of your own labors can be seized  - yes confiscated - by a government intent on purposeful and unchallenged unequal treatment???  (Whiskey Tango Foxtrot - over!)

 

That fact that the socialists have garnered control of our government and will ceaselessly use unjust methods via the tax code to penalize legitimate citizens is not surprising.

 

What is surprising and breath taking in it disappointment is seemly unconcern of those that must pay. But, like captives being brought to a slow boil by moral cannibals we are all to be devoured!

 

Concurrent nationwide Tea-Parties are being planed are you ready?

So what's your debt load?. 'Whacha' carrying on credit cards, line of credit, mortgage, second mortgage,  student loans, car payments, store credit cards?  Total that up and ad another $7,000.00. Yep, that's what "Dear Leaders"  'Porkapooluza' will cost you!

Be mindful as you look at this list, that the CEO of Google, was instrumental in 'Dear Leaders" campaign. How much of the IT spending is pay back?

Last week I heard Mainstream Media (MSM) types, rabidly loyal to their social cause, leg furrowing, knickers twisting and nearly apoplectic in their ebullience, joyfully echoing the Office of the President Elect BHO - PEBO statement "Only Government can solve nation's (economic) problems"

 

Change is already  upon us and the "anointed one" has yet to take office. It's not so unusual that a socialist lefty would propose a state solution over a private solution.

The real story is in how readily accepted socialist solutions have become in the new "Yes We Can" - err I mean "Yes The Government Can" (and will with your money) world of PEBO USA.

 

Even in a post modern America, the shift to government managed economy should scare everyone and not just the 48% of the payer vote.

 

Like a frog in pot coming slowly to boil, America's embrace of socialism has been a long, slow, concerted effort. The "52 percent-ers" have been inculcated by a "tenured instructor class" who's economic ignorance is as dangerous as it is fallacious and continues to foist the "great fiction that we can all live at the expense of others".

 

 

I recently heard Newt Gingrich say (paraphrasing here) that "Our parents generation scrimped, saved and scarified all their lives to provide for our generation, and Now our generations is diligently working and sacrificing our children's future to provide for our generation". 

 

What we have is "trickle up moral cannibalism" eating away at the very fabric of our beloved republic and few even seemed concerned.

 

Just today, in the Business Section of our local Pravda (Orlando Sentinel - who's begging for it's own bail out)  the business columnist opines:

 

"So you can imagine the fear running through politicians and economic-development gurus whose success is often measured by how many jobs they help create"

 

The author goes on to bemoan that current economic environment that will force the State to curtain spending to incent other businesses to relocate here. Source

 

The inference of course is that jobs come from politicians and economic-development gurus instead of business!!!! And the state must bribe other companies to move hear via loans, cash and tax incentives.

 

Somebody must stand up and say it: "Governments don't have ANY money for loans, cash or other incentives unless they take it , yes CONFISCATE IT from someone else first!".

 

The saddest commentary is that we have politicians, "economic-development gurus", and apostle of ignorance  willing to plunder existing business to incentivize  others to move here - for what: - so they too can be cannibalized?

 

In a Brave New World ignorance is indeed bliss - or at least doesn't raise your blood pressure. Is it time yet for the "Soma Holiday"?