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Categories - Copywriting - Shopping - Free Online Business Help - Telecommunications Services Articles: Finance - Congressional Panics Best sellers will be written on “The Congressional Panics of the 21st Century”. So far, they have brought us the Patriot Act, Iraq War, along with millions of deaths, and government eavesdropping on our phone calls. Now they have brought us a bailout of banks that have, in collusion with the Fed, made their own beds, and over $12 trillion worth of debt. This year's entire GDP is already owed to a private bank and foreign countries. Now that Congress, the Fed, and Bush have acted in collusion to transfer the country's wealth out of the population's hands and into the coffers of the oil companies, foreign oil industries, the military industrial complex, and the banks, the country's economy is going to fail. It's only a matter of time. The population of the largest consumer market in the world has to have money in order for industry to be healthy and the world not to starve. Congress has attempted to forestalled the collapse by passing bank bail out legislation. This has done nothing but to worsen the problem.
We had a chance. If Congress had let two of the major ringleaders, named Freddie and Fannie, hang themselves in order to set an example for the Fed and the rest of the banking industry, after the fallout, things might have settled down. Nationalizing them has done nothing to reduce the growing number of foreclosures or growing joblessness that is now in free fall. We had the strength to withstand this with a little PR work concerning the viability of the remaining banking industry. Bush, who initially opposed any bank bailout because he most likely figured that the country was fed up with his corruption, saw Congress panicking without any prodding, smiled and said, “OK. Go ahead”. Now Obama, another agent for the banks, has given them more money. His solution is to do more of the printing, borrowing, spending, and giving that caused the problem leaving us further and further in debt.
The Fed argued for their creation after the panics and bank closures by saying that a central bank was needed to prevent those types of disasters. Then the Fed created the Great Depression.
After the Fed and banks pressured Congress to pass legislation that would protect them from bankruptcy fillings, they embarked on an unscrupulous and predatory lending campaign. The Fed accommodated them by increasing the money supply.
Now that the Fed has, in collusion, created the very disaster that they are supposed to prevent, we are expected to give them more of our money. Homeowners are still not going to be able to pay their adjustable rate mortgages, but the banks and stockholders will get more money to loan when the economy improves.
Bushes bill also increased the maximum national debt by $800 billion to $10.6 trillion. Not to worry. While the banks were pressuring for protection from bankruptcy, they also pressured for legislation protecting the tax debt so the government would have the money to pay the interest. This means that the Fed will be able to print more money and loan it to the government with interest and the people who own the Fed, instead of paying for their graft, will seize more control. We will give up our freedom through taxation and inflation.
It is hard to say whether Congress is collectively stupid or collectively corrupt, but there is no justification for letting them get away with this. The sooner we get this over with the sooner things will be better. We should start on it before things get really bad and the Republic ceases to exist.
The next thing to do is realize that bureaucrats are like alcoholics. Alcoholics can't resist the next drink and bureaucrats can't resist making the government bigger and more powerful. What is supposed to be a limited government now controls every area of our lives. Every government agency should be forced to go through the Constitution like a step program and, when they don't pass muster on one of the Amendments or Articles, cease to exist.
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