An oldie but a goodie from November 2008; still guaranteed to make you think.
Here we go again.
Time once again to try to talk some common sense concerning the Federal bailout of the nation's lending institutions. This is very difficult to do, because the elitists, under the guise of the President, the Congress, the Treasury Secretary, and the Federal Reserve Chairman, have brain washed the average American, into believing that they have the best interests in heart, for the average American.
Nothing could be further from the truth.
Who in their right mind would borrow money, that would take the next three generations to pay off through higher taxes, only to give that money to the banks, in hope, that the banks would lend that money back, at interest, so that he can buy the things he needs to survive?
But that's exactly what the leaders of our country have convinced us we need to do in order to avoid financial apocalypse. We have bought their lies, lock, stock, and barrel. If we don't wise up soon, that is all we will have to wear...barrels!
The banks have already been given 350 billion dollars of our money. They are now clamoring that they need the other 350 billion dollars, that had been set aside for future use in the Obama administration. What did they do with the original 350 billion? They gave their CEOs multi-million dollar bonuses, gave themselves expensive vacations, and they are sitting on the remainder. They are not even lending that money out in order to kick start the economy! Why in the name of God, should we give them another 350 billion?
Now General Motors, Ford and Chrysler, are claiming that if they don't receive a 30 billion dollar loan, they will go belly up. All of this amounts to extortion on a grand scale.
As previously stated in three past posts, (The Center Cannot Hold, 9-21; Bend Over, Here It Comes Again, 9-23; and Sundown You Better Take Care, 10-1) that 700 billion dollars, divided by 150 million families, amounts to almost $47,000 per family! If we the people had demanded that we lend that money to ourselves, instead of giving it to the banks, people would have got their houses out of foreclosure, they would have bought new cars; the economy would be surging as companies hire new workers to produce the products people could now afford. Everyone, would have been happy.
The reason the lending institutions are on the verge of collapse, is because workers pay has been slashed so low (under Bushs' climate of corporate greed) that the only way they can survive, is by going heavily in debt. People are defaulting on these loans, causing the banks to fail. The answer is to reduce people's debt. Giving money to the banks, does nothing to alleviate this problem.
Why then, is the government pushing financing the banks? The elitists goal, is to put every American into financial servitude to them. It is not too late, the remaining 350 billion dollars of our money, would still amount to $23,300 per family! The American people need to demand accountability! They need to demand that money of ours, be divided fairly among ourselves, not just given to the banks!