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Friday, October 03, 2008

830 Billion and growing!

Where is the DOJ?


Oklahoma is indeed okay!  Too bad he decided he had to vote for the bill.  "We don't know better, it's obvious!  ...their only one place to come to hold accountability and it's in this body!"

I've read and thought in the back of my head that eventually the government would find a way to give full ownership of the land in the United States to the banks in Britain or a World Government.  I figured they'd pull it off using taxes..  IRS back-owed taxes.  Or perhaps through property taxes which keeps all but allodial title holders from ever truly doing more than renting their property from the state.  There is always the slow but steady method of seizures - oh and of course the less obvious but just as useful death taxes.  

But, now that the federal government is trying to authorize over 700 billion to cover "bad debt" it seems that they may very well use our own "tax dollars" (better read as increased debt) to buy the mortgages of millions of Americans and as the owners default the property will become the federal reserve's.  Quick math (if we pretend the average home debt is 300k, which I would be willing to believe is a high estimate) shows that the federal government is giving the federal reserve enough money to buy up 2,333,333 and a third houses.  Of course, no government program *ever* sticks to the estimated amount and I agree with Bob Barr that this will easily surpass a trillion dollars.

The bill itself has already surpassed 830 billion.  700 billion for the "rescue" and 130 billion for the pork the idiots, oh excuse me...that's Honorable idiots added to the bill so they could feel better about voting for it.  Can't wait to see how much the Congress can run up that cost before they pass the bill on Friday or Monday.

Here is a sickening fact.  Where did the white house get the $700 billion figure?  Out of nothing.  There is not one data point suggesting how much or how little money is needed.  Not one data point.  "It's not based on any particular data point," a Treasury spokeswoman told Tuesday. "We just wanted to choose a really large number."  - 
WMD, anyone?

The bailouts are far from over - as a matter of fact, we just got into the tunnel.  We have been bailing out industries for years.  Transportation is a favorite of the House.  There is also the auto industry that keeps asking for help.  Guess what industry is *included* in the rescue bill: manufacturers of wooden arrows!  My personal least favorite: $192 million for the rum producers of Puerto Rico and Virgin Islands!!!  Are you kidding me?  Yep - the economy won't make it without subsidizing the most lucrative substance on earth - alcohol!  

Certainly there will be plenty more industries getting in line for bailouts on the taxpayer's dime.  The auto-industry is in line again and I can guarantee you that the States themselves will get in line demanding aid for their shrinking budgets.

Welcome to the United States of America, Land of the Afraid.

The only way to fix this is to let the economy do what it needs to do.  Then prices will fall and houses, food, and gasoline will become more affordable.  It won't be an easy time, as no depression ever is, but to extend our credit even further which directly decreases the value of the dollar is definitely not the answer.  This bailout will cushion to blow to the rich, but will do nothing to help the poor.  Prices will stay high and you can bet your bottom dollar our government will do everything it can to keep prices on necessities high and all the while say it is the economy that is keeping the poor from the items they need and that only more government programs can help.  More government programs = more spending = lower dollar value.

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