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Saturday, October 04, 2008

Bailout goes through. America: the land of the afraid!

Thank you! It is greatly appreciated that you voted no on the Bailout legislation once again. I am deeply troubled by the unwise course of action our federal government has taken as I believe this is just the tip of the bailout iceberg and that it will do nothing other than delay and increase the damage of the upcoming economic panic/ price correction. Please do everything in your power to uphold and defend the Constitution of the United States of America. Thank you again for keeping in mind that taxpayer money is not trash for Congress to throw around as it pleases.
(Sent to Senator Bill Nelson and Rep. Ric Keller. Kudos to them!)

Unfortunately I also had to send this one to Senator Mel Martinez:
It is greatly unappreciated that you voted yes on the Bailout legislation. I am deeply troubled by the unwise course of action our federal government has taken as I believe this is just the tip of the bailout iceberg and that it will do nothing other than delay and increase the damage of the upcoming economic panic/ price correction. I'd like you to reflect on your oath and from today onward do everything in your power to uphold and defend the Constitution of the United States of America. It's unclear to me that you don't view the taxpayer money as simply trash for Congress to throw around as it pleases.
It is unfortunate that you apparently fell prey to the fear mongering that surrounds this situation. Only one thing is certain when the government gets involved: the outcome will be worse than where we are at now. Since you chose to back this major theft of American freedom, I hope you are heavily involved in the task force to figure out the root cause of this mess and that you look deeply into the Federal Reserve, consider the incentives that the government gave to these banks to take on the highly risky debts and why it is now our place to pay back foreign banks for their own poor decisions.
This bill's foundation is based on not one data point, but rather it was based on the Treasury making up a very large number with not one fact to back up any of their fear-laden claims.
Only one last parting thought for you, sir. How could you give a bill your vote when it grants $192 million in tax savings to help with rum manufacturing in Puerto Rico and the Virgin Islands? Who can't make money selling alcohol? If the islands need the money then get rid of the excise tax and let them tax the exports themselves.

Friday, October 03, 2008

A letter sent to the two senators of my state by a close friend

I found his writing to be superb.  He really got to the point!

I urge you to vote NO to any bill that bails out Wall St's irresponsible economics with Federal taxpayer's money.  It is time that our politicians listen to the people of this nation and find a better means to resolving this problem.   Our nation's great Constitution does not grant the right to congress to interfere with private irresponsibility via taxpayers dollars. Follow what your Oath of Office requires you to do; stand by our Constitution and defend it at all costs.  Show the world that our form of government is indeed the best in the world, one that can stand the test of time and difficulty. 

We are now faced with a decision; we can elect to continue to prop up a failed Federal Reserve system, or choose to change it.  A bail out is a simple band-aid, a blank check.  It will drastically work to devalue the US dollar and it will set the stage for other industries to expect federal bailouts.  It is time to make a stand; stand up and tell Wall St. that enough is enough. The people rule this government, not the corrupt lobbyist, corporations and politicians.  Return our monetary system to the people.  --TJLaw

A note to my congressman

I sent this just a few minutes ago to my congressman:

First I'd like to thank you for voting against the first draft of the Emergency Economic Stabilization Act. I hope you have not decided to join in with the pork process and that you will vote against this legislation as it comes back to you for another vote, now with a bill approaching $1 trillion for the taxpayers.
It is time we lived in a free world that requires us to be responsible. Voting this act in will promote more irresponsibility and devalue our dollar doing more damage than sitting back and watching the economy endure a price correction.  
I think Thomas Jefferson had a simple answer to this issue: "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)
Please take into consideration his wisdom and my words as you make your decision. Do not buy into the fear-mongering that wall street, the senate, and the white house have been selling. 
Respectfully, Marc

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.