The more I research and come to an understanding of this problem, the more I can't help but wonder why ALL Americans aren't up in arms, pounding on doors, tying up the phone lines, and in any way available demanding from our elected officials an honest answer to the mess they created. From the housing/mortgage debacle, to banks going under because of it, to our borders not being secured, to these idiots in elected positions demanding rights for illegals...it goes on and on and it is all entwined in an incredibly deceptive web of lies, back room deals, and crooked men/women getting rich off the back of the taxpayers. While we are awash in the financial storm which is sublimly worsened by the drive by media, I can't help but wonder when China will decide to cash in the US Treasury Bonds they have bought up in the millions, when the terrorists will decide to strike again because we are so immersed in this mess we are taking our eyes off the target, or when Russia will make it's next move towards retaking it's former glory and land holdings thus moving one step closer towards it's hidden goal of smashing the West.
Okay, maybe I sound paranoid, but mark my words, something big along these lines will happen. While our leaders are scratching their heads and backsides trying to figure out how best to socialize our country, our enemies are biding their time, planning their next move, and patiently waiting for a perfect check mate. Maybe, just maybe, they (vague I know but use your imagination here) even helped to create this financial mess knowing it would be to their advantage. Our congretional leaders need to let the economy be. It will correct itself. That is the brilliance of a capitalist society. We may suffer a bit in the interrim, but it will survive, we will survive, and we must send Washington a strong message that we don't want to bail out criminals, we want them sent to jail. Anyone remember Enron here?
Get the investigations going. Find out who did what illegally, make sure they pay, let their companies go under, new ones will come along to replace them. Put people in jail, pray we can have an honest man (or woman) or two voted into office who will correct this wrong without socializing our economy and asking us to foot the bill yet again. Close down our borders, get strict on repatriating the illegals already here, clean up the mess, and don't gripe to me about civil rights for non-citizens. Credit isn't a civil right, marriage isn't a civial right. The government CANNOT guarantee prosperity. All is can and should do is guarantee you the individual right to seek out that prosperity. To make it happen for yourself, for your family, through hard work and effort.
Here's some more light reading about our financial mess:
http://michellemalkin.com/2008/09/24/illegal-immigration-and-the-mortgage-mess/
2 comments:
I'm not necessarily pro bailout, but you need to look beyond the US and what it means for the global economy if it doesn't occur. When AIG went under there was a run on the local office in Singapore even though local monetary rules require AIG to fund all policies separately from the US company (i.e. no problem meeting obligations). Someone started an internet rumor that BEA Bank in HK was going under and it almost collapsed. Investors in Singpore bought what they thought were stable munis, turns out they were linked to 8 I-Banks and when Lehman went the fund tanked to zero. These weren't greedy individuals, these were people who thought they were in a safe investment with a 4-5% annual return. Nothing greedy. Maybe this needs to happen in order for the problem to correct itself, but if it does you need to understand it means the global economy collapses. The fundamental issue was greed. Greed on the part of the individual (primarily US) who were living way beyond there means by purchasing homes that they could never afford, greed by the institutions who pushed these loans and stupidity on the part of the US gov't for allowing these lending practices to happen. Essentially boils down to Congress as they ultimately have oversight for this. And I don't care which party, they need to stop playing partisan politics and just fix the mess. Fortunately for me I have no money in the market, in some ways buying stock is no different then a roll at the crap table. Will probably get back in at some time, but sitting on my cash for now. What little I have anyway.
It is scary, but I am afraid to see what happens if we don't have a bailout. It needs to be a good plan, and in the end, those responsible need to be held responsible, but like John said, this just isn't affecting Americans.
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