Because we've been run over by a bunch of parasites. Oh- and history is always turning pages. Oh- and now the world is global and the chips are chips on other nation's shoulders. We are no longer the good looking guy in the baby blue convertible.
On Sep 23, 8:24 pm, Jim Willis <[EMAIL PROTECTED]> wrote: > Despite what democrats have done to this economy; ask yourself this. > In just over two hundred years we have bested societies that have been > around for centuries. We're all that and a bag of chips. Why? > > On Sep 23, 8:16 pm, rigsy03 <[EMAIL PROTECTED]> wrote: > > > > > "Democracy"- Leonard Cohen-song.//"Book of Longing"- Leonard Cohen- > > book. > > > On Sep 23, 8:08 pm, Jim Willis <[EMAIL PROTECTED]> > > wrote: > > > > The doomsday clock for our economy is just about to ignore the snooze > > > button and blaringly wake this country up. Trust me, it will happen. > > > The reasons are quite evident and before we get to the collapse let’s > > > examine the root cause. In 2001 because of a looming recession legacy > > > from the Clinton administration entwined with the bloodthirsty attack > > > on 9-11 the federal interest rate was lowered from 6% to 1%. Cheap > > > money will always find a home and it did. Most noticeably in the > > > mortgage market, enter Fannie and Freddie. Both government backed > > > mortgage whores run by Clintonista’s and protected by powerful > > > democrats in the senate and the house. In 2004 fed rates went from 1% > > > to 5.75% and began what would be the bubble bursting we have idly > > > witnessed. The rest is history, or soon will be. > > > Present day, congress will, “in some form” pass a bailout scheme and > > > indebt the taxpayer for not $700 billion dollars but chase this rat > > > all the way into the hole to the tune of $2 trillion dollars. And, by > > > the way, without any reforms; what is missing is a structural fix > > > systemic to the tsunami of default endemic because of the systematic > > > hierarchy encompassing our mortgage markets. Local banks grant loans > > > and bundle them off to Fannie and Freddie. Once the evil twins take > > > that paper the banks that approved the mortgage have no further > > > liability, a simple fix, to be sure, yet one that the democratic > > > congress seems unwilling to even consider or discuss. I, your humble, > > > local genius, instinctively know the solution and you the reader are > > > blessed by my knowledge. Really, don’t you just drop to your knees, > > > each and every day and thank God you have access to my giant brain? > > > Well, if you don’t you should. Simply put, for you lovable liberals, > > > attach the mortgage to the issuer. No matter who buys the bundle of a > > > particular mortgage it follows the issuer around like a shadow. If it > > > defaults, it comes home, to the bank that approved it. Simple and > > > brilliant, that’s me. > > > Now, what will happen, trust me. This bailout has zero chance of > > > working. 1% money infected more than the financial markets, it just > > > hasn’t shown its ugly head yet, it will. Think credit cards, > > > automobiles, RV’s, etc. There is no cure and what will happen > > > undoubtedly, assuredly, change America and the world forever. It will > > > start slowly then build to a crescendo. A few banks will fail, > > > followed by some behemoth hedge funds. Then, the dominoes will begin > > > to fall. As America realizes the FDIC to be insolvent, no matter the > > > rush to re-fund it, America will rush to withdraw their savings. This > > > will create a panic. The media will pour fire on this firestorm by > > > reporting the financial calamity. The panic will intensify until we > > > see a complete collapse of our economy. It won’t be like 1929 when > > > Herbert Hoover was president, “despite what Joe Biden says” because > > > America is much more urban and less rural. We rely more on technology. > > > In 1929 our economy was bed rocked on industry and agriculture. The > > > great depression suffered 25% un-employment. The depression of 2008 > > > will encompass a full fledged meltdown. Our economy is reliant on > > > spending. Our GDP is 70% spending, a reflection of our soon to be un- > > > employment rate. In 1929 we had shanty towns. In 2008 we will have > > > riots and marshal law. We can expect 1200% inflation and the end of > > > America as we know it. > > > Yet, let’s be clear; this will happen. Trust my giant brain and your > > > ability to comprehend my written word. We will be assigning blame and > > > let’s get it right for once. Jimmy Carter and his community investment > > > act, Billy Clinton and his terrorizing of our financial institutions, > > > the fed and lest we forget, the democrats at Fannie and Freddie, may > > > they all burn in Hell. > > > Conservative Springfield 24SEP 08- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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