Wall Street SHOULD tumble despite the AIG bailout
Photo care of http://www.diversityjobs.com/files/images/le_floor_de_Wall_street.jpg
Anything other than a “Wall Street tumble” would be a deception on the public. Why? Because there is no financial benefit for the investors of our nation when the “Fed” bails out another business gone amuck. It’s a generic band-aid, initiated to continue the perpetration of a century long façade. Let me say this again loud and clear… the Federal Reserve is NOT a government entity. Our government leaders have no say in how it operates, and no jurisdiction over it. So how does it have any authority over the use of YOUR tax dollars?? And yet it was the tax dollars of U.S. citizens pledged for use of the Federal Reserve for this AIG bailout and the so-called $70 billion cash infusion that occurred yesterday.
I’m having a hard time understanding how so little financial intellect can be present in the minds of our media reporters? They can get heavily involved in what celebrity was caught kissing whom, what crime rate is on the rise, whether or not a woman or a mother is fit to run a big business or serve in a major government position, but they can’t see the asinine proposal of our tax dollars being given to a foreign entity to bail out another big business gone amuck?
Since when did business failure deserve a reward? Let the consequences happen as they may to these big businesses. Give the American investors pause for more prudence in their investment decision making.
Why is it that our nation’s leaders are allocating our tax dollars to a non-governmental entity to bailout a company most of us could care less about? Since when does failure to operate a business properly merit the pity and hard-earned dollars of American citizens? I know of hundreds of business owners who have made mistakes in running their business; and not only does no one come to their aid one iota, but because they are self-employed business owners, even in a crisis they are unable to get access to simple financial benefits such as food stamps or Medicaid (that even illegal immigrants can get) when necessary! The irony is that small and medium sized businesses contribute the largest portion of tax dollars to these programs than even large corporations- yes more than Merrill Lynch and AIG put together! Do we simply discount or forget that these struggling businesses may have had a wonderful 5 year run previously in which they contributed to the economy by providing honest jobs to dozens of employees, tax dollars, vendor service dollars, etc?
Stop the insanity. Get educated about what’s really going on and then voice your opinion in these matters to the government leaders just as fervently as you would cry for help to save your family, your home, and your freedom.
| Copyright 2009 Kellene Bishop. All rights reserved. |
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Good article. Here’s a little more pivotal knowledge…
Actually, anyone who still thinks that money and imposed usury are a wise and just way to manage civilization is still suffering from strong delusion and needs to lay of the strong stuff. Humanity has long been duped into accepting the great deception that is money and banking. The world financial system is now in the process of a slow and inexorable implosion and the unraveling will make Enron look like child’s play. The mess created in recent decades and greatly magnified by the Neo-cons and their greedy cohorts is about to plunge the world into a great debacle.
It will soon become obvious, to even the most clueless, that it will be easier to step away from the deceptions of the past and finally fix our civilization so it works for everyone, not just a few. Why should humanity struggle and suffer any longer to repay debts and endure debacles created by greedy and deceptive monetary and political leaders? The power of the rich and arrogant is about to be blown away on the winds of irresistible change.
http://tinyurl.com/rottencore
http://tinyurl.com/moneypower
Peace and Wisdom…
Two things happen when this amount of money is used to bail out a corporation when the Fed has to borrow money:
1) Precious metals skyrocket.
2) Oil prices increase.
The saddest part is that neither Obama nor McCain have any intention of tackling the debt.
Thanks for the comment from your post, Kellene, you are right about how Wall Street should tumble.
It is important, though, to note that this won’t be a direct tax on Americans, unlike the bailout of Fannie and Freddie. Fannie and Freddie were bailed out through the Treasury, to the direct tune of $300 billion, with more obligations on the way. The Fed is worse.
The Federal Reserve’s only tool is to devalue the dollar… the “inflation tax.” By creating more money, inflating the dollar, we are taxed in a horrible way: the goods and services that we buy become more expensive.
This is especially hard on the poor. You are right, in the sense that it is a tax of sorts, but an even more insidious one.
-Jess
http://www.newoldright.com
“Let the consequences happen as they may to these big businesses.”
The danger of that is a repeat of the Crash of 1929 and the Great Depression that ensued. Would you really like that to happen just to prove a point?
Something is very wrong at the minute. I think the causes are to be found in FDR’s inaugural speech made in 1933. See my post “Buddy can you spare a billion dollars.”
This frightens me beyond my level of anger, even. I agree with you. Listening to the people who seemingly understand the complex world of finance yesterday on the radio makes me want to accept the Fed’s decision that AIG, of all companies, really does need to be prevented from sinking too quickly. However, we will likely be borrowing even more money from China to finance this “rescue”.
I fear China simply saying to us soon, “Ok, give me back my lafesaving rope.” Down we go.
This is not a pretty picture.
You are right on (again). I am glad the House put the brakes on this administration – FINALLY. The White House comes to them in a panic and says “We must declare war on Iraq.” They succumb. Now they come in a panic, “We have to have this money now!” They did not cave in. Let’s stop the source of this bleeding, the expensive band-aid won’t do that.
MainStreetIdaho