Bailouts? Why? There is no reason to bailout the entities that supported ripping off people by selling them loans they couldn't afford just a few years after they took them on.
The republic of the United States of America is in desperation and it needs to be returned to the Constitution. The regulatory laws have taken the worlds greatest nation and brought it to its knees in nearly a century.
But....then, what did the founding fathers know? They couldn't possibly fathom the issues of our current world, could they?
Let's see what some of them had to say!
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
--Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802) -
"The man who reads nothing at all is better educated than the man who reads nothing but newspapers."
--Thomas Jefferson
"It is error alone which needs the support of government. Truth can stand by itself."
--THOMAS JEFFERSON, Notes on Virginia
"A democracy is nothing more than mob rule, where fifty-one percent of the people may take away the rights of the other forty-nine."
--Thomas Jefferson
"How soon we forget history... Government is not reason. Government is not eloquence. It is force. And, like fire, it is a dangerous servant and a fearful master. "
-- George Washington
"Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports. In vain would that man claim the tribute of patriotism, who should labor to subvert these great pillars of human happiness, these firmest props of the duties of men and citizens. And let us with caution indulge the supposition that morality can be maintained without religion. Whatever may be conceded to the influence of refined education on minds of peculiar structure, reason and experience both forbid us to expect that national morality can prevail in exclusion of religious principle."
--George Washington
"It is our true policy to steer clear of entangling alliances with any portion of the foreign world. "
--George Washington
"It will be found an unjust and unwise jealousy to deprive a man of his natural liberty upon the supposition he may abuse it. "
--George Washington
"They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety. "
--Benjamin Franklin
But, then what did they know? Our Republic which is currently in a period of experimental regulatory law with the Federal government as supreme ruler of the sovereign states is doing just fine and very few of the bits of wisdom from those idiots that wanted to be free are followed anymore!
The Federal Reserve Act of 1913 has brought us nothing but reduced inflation and a dollar that can buy more than ever before, right? Oh...wait....no! Today's dollar can barely buy 4 cents of what the 1913 dollar could buy! Inflation, before that unconstitutional and foreign controlled entity existed was cyclical, meaning that some years inflation was positive and some years it was negative, but the dollar didn't decline exponentially every year as yet an additional positive percent of decline was applied.
Granted the poor little banks that let down their investors by abusing people with loans they couldn't afford didn't get their just because of the Federal Reserve...they acted as willing accomplices taunting the poorer American with the chance to own a dream house for a fraction of the *monthly* cost of a true fixed rate mortgage. In turn home sellers could afford to get more money for the houses they sold and prices for homes began to sky rocket. If you listen to the real estate brokers they would tell you it was just an appropriate appreciation for housing as they slyly raised their cut of the take upwards of 8% plus some completely unnecessary fees. Local and State governments got excited about their property taxes and suddenly saw unprecedented income for themselves which they instantly found ways to spend and borrow against! What a dream! All this heavenly fortune backed by a completely worthless note called the dollar! Awesome! How could anyone see that their would be an issue?
I, myself, fell victim to this ridiculous debt economy and pulled the plug on home-ownership in VA realizing a $90K loss in one year. (2006-2007) I even got to see our benevolent government helping me out on my 2007 taxes.... yes sir! You have to claim a gain on a house you sell, but no you may not claim a loss on that same house! Strange how it is a capital gain, but cannot be claimed as a capital loss.
Now, here we watch the Federal Reserve bailout corporations that have hugely deep pockets and tell us we'd fail as a nation if we didn't! Your government is here for you! To hell with you people who've lost all you put into your housing for the last 10-30 years, we need to help the billionaires!
Those mega corporations deserve to eat the risks they so eagerly took on. We are doing two things as a country by offering these bailouts which will easily go beyond a couple trillion dollars. 1) Rewarding shady practices which were intentionally designed to play on the desires of the people to copy our government and buy more than they can afford. 2) Devaluing the dollar even further.
Look out Amero, here we come! With the US Dollar poised on emanate failure now is the best time ever for Canada, US, and Mexico to finally enter the dream of one world government by combining our economies. We'll be convinced by our leaders that it is our only hope to give up on the worthless dollar and pickup a new un-backed and just as worthless currency that spans three nations. Are we really going to be that stupid? Can't we see that our Constitution had us use Gold and Silver for a reason? That only Congress itself was allowed to specify the value of the dollar?
Naw! Forget the Constitution, it's too lame to apply to today's world, right? I took an oath years ago to the contrary, so did John McCain, so did Barack Obama and so did every other member of Houses, the legislative branch, and the judicial branch. Who among them can stand up and say they defend the Constitution of the United States? Who among them can say they will protect her from enemies both foreign and domestic? Not McCain nor Obama! They have voted in legislation that is directly unconstitutional. They think we live in a democracy and our media reinforces that opinion. I know I served a Republic. A republic uses the rule of law to protect the Liberty of All while a democracy protects no one as rights become priveledges and can be voted away.
It's disturbing to see that the President of the United States and the Houses believe another stimulus shot in the economy complete with more bailouts for all will help us. Didn't they notice that the last "stimulus" had the exact opposite effect? We are headed for a major depression and putting it off by printing money we don't have or borrowing money that isn't added to the debt will only delay that depression and make it much harder to recover from? The most unfortunate reality is that without the over-regulation that our government has placed on this country the depression would be much less painful or even been avoided.
According to the White House our Federal Government will take in approximately $2.5 trillion dollars in income and spend $2.9 trillion in 2008. Meanwhile they are authorizing an $11 trillion deficit. That gives the Federal Government a beautiful Debt to Income ratio of 2,500 billion / 527 billion (interest only based on new 11 trillion amount) = 21%. Sadly, though if you look closely you'll notice that our income equals our out-go with the interest just being rolled into debt. What's truly laughable is that our country's leaders are banking that in the coming years they'll make more income and eventually be able to overcome the deficit spending. I say it's laughable because as the economy falters they cannot realistically believe that next year they'll have bigger revenues than last year. By then, of course, we'll either have a democrat who will raise the burden of taxes on everyone to once again "balance" the budget or we'll go with more deficit spending on the ridiculous notion the economy will regain an upward climb and begin to cover the outlandish spending.
Wouldn't it make more sense for the federal government to prioritize and begin cutting huge but unnecessary programs from the budget? Oh, I dunno...how about all the unconstitutional ones? Then perhaps we could get the government back to doing what the states gave it the power to do, see the Constitution of the United States, Sections 8 and 9.... Oh, dear! Apparently in section 9 it specifically says that no money shall be drawn from the treasury but in consequence of appropriations made by law. How did Fannie Mae and all the others from late last week and early this week get bailed out? I don't recall the Congress voting on it.
I refuse to ever again vote the lesser of two evils. I will only vote for candidates that support the Constitution and hold Liberty and smaller government as core principles. The only two parties I know of that support those ideals currently are the Libertarian and Constitution Parties. Don't waste your breathe trying to convince me that I need to vote the lesser of two evils as"this is an important election" or "the situation could never be more dire! We need you this year!" You aren't wrong, you just don't realize that voting for either of the two major parties is a vote for the current situation we are in and will result in no changes, no increases in Liberty, no reduction in government spending, no return to a Republic, and no hope for our future. This is an important election, it is the election where a third party will finally make permanent ballot access by obtaining 15% of the vote. The republicans had their chance to make smaller government and instead they created the single largest growth of government in US history. The democrats had the power to implement change in the last four years and all they did was pass a censor. Neither party can function in a way that will help our beloved country out of the mess it is currently in. Let's get the better third parties out of the ditches of having to buy ballot access every year and get them on the playing field where they belong so they can help undo what our lost brothers in the Demorepublicats have done and this country can once again rise to the prosperity it has enjoyed while being a beacon of Liberty to the world through friendship to all other countries of Liberty and alliances with none.
Join me in not voting for Obama or McSame! -- vote for someone else on your ballot that may share your views and send a real message to the inside of the beltway.
/salute
Marc
