printWho’s crazier; Mad Mahmoud Or the Bailout Bastards?
Ahmadinejad’s God gobbledygook aside, the Iranian loon has figured out something the newly crowned King Henry (Paulson) and his cronies reject root-and-branch:
“‘The U.S. government has made a series of mistakes in the past few decades,” Ahmadinejad said an interview with the Los Angeles Times. ‘The imposition on the U.S. economy of the years of heavy military engagement and involvement around the world … the war in Iraq, for example. These are heavy costs imposed on the U.S. economy.’”
“‘The world economy can no longer tolerate the budgetary deficit and the financial pressures occurring from markets here in the United States, and by the U.S. government,’ he added.”
Economist Robert Higgs has pegged all defense-related spending—the price of America’s empire—at approximately $1 trillion per year. That, and this, will do it.
Update: “THIS MASSIVE BAILOUT IS NOT THE SOLUTION, IT IS FINANCIAL SOCIALISM, AND IT IS UN-AMERICAN.” Who is Jim Bunning? He’s the only politician (other than Ron Paul) to have called the hideous thing by its name: socialism.
Senator Jim Bunning’s statement at the “Banking, Housing, and Urban Affairs Committee Hearing on Turmoil in the U.S. Credit Markets”:
“We cannot make bad mortgages go away. We cannot make the losses that our financial institutions are facing go away. Someone must take those losses. We can either let the people who made bad decisions bear the consequences of their actions, or we can spread that pain to others. And that is exactly what the Secretary proposes to do – take Wall Street’s pain and spread it to the taxpayers. The plan has not even passed, and already Americans are paying for it because of the fall in the dollar as a result of all the new debt we will be taking on.
I know there are problems in the financial markets, and I share a lot of the same concerns that our witnesses do. However, the Paulson plan will not fix those problems. The Paulson plan will not help struggling homeowners pay their mortgages. The Paulson plan will not bring a stop to the slide in home prices. But the Paulson plan will spend 700 billion taxpayer dollars to prop up and clean up the balance sheets of Wall Street. This massive bailout is not the solution, it is financial socialism, and it is un-American.” [My emphasis]
My latest webcomic series is covering this bailout or what I’m calling the Federal Bureau of Bailout.
QUESTION: Which Asian “Islamic Republic” (a) has nukes, (b) has long range missiles (c) has had 6 major changes in government since August 1988, (d) houses Al Queda, (e) has gone to war with a nuclear power whose initial starts with I? ANSWER: The Islamic Republic of Pakistan. So naturally, John McBama and Barack O’Cain are threatening war on Iran!! Although we have to borrow money from China to wage such and have no troops to fight it!! This obscene bailout/takeover is the “Reichstag resolution” death knell of any semblance of capitalism in America AND utterly nullifies Congress’ power to appropriate money. How can we even begin to worry about the so-called “threats” from Ah-MAD-inejad of Iran or Russia or Pakistan when it is the United States Government, created “to insure our rights” which is the biggest enemy to our own freedoms? Did Putin jail 800,000 Americans for marijuana last year? Did Hu Jintao suspend habeas corpus? Did Kim Jong Il take over our nations banks? Did Mugabe make bad loans to American homeowners? Meanwhile, the Republicrat/Demoplicans blame each other and pretend that they have not been in power in the last 20 years – with most Americans believing them.
AKA Fascism/Govt.-Corp. Partnership
aka-fascismo
The Federal Reserve Banks have been a scam and a swindle since the day the Bank Scam system was created by the crooks and thieves in the Government conspiracy for totalitarian tyranny. Unfortunately, the current Government and Congress and the Establishment news media are all part of this continuing conspiracy and scam and swindle. The Fed chairman and the Treasury Secretary are lying fear-mongering con-men scammers and swindlers, and the Congress and establishment news media does not blink an eye at this 700 billion dollar theft from taxpayers and bank fraud and reward to bank crooks and thieves, but instead wink at this 700 billion dollar bailout scam. The 700 billion dollar bailout is NOT necessary. Instead of this bank scam, the Government should just lower interest rates further, to ZERO percent, if necessary.
One more comment: It seems that Iran’s Ahmadinejad’s comments about the financial crisis in the United States are more accurate and honest than the lying US President Judas Bush and the Bush Swindles and the lying US Government and the lying Establishment and the lying establishment news media.
To Tom – what do you mean that the government should lower interest rates to zero? Where is this money getting genreated? Is it backed by gold. Heck, why not lower the rate to -3 % and pay people to borrow money? This is Weimar / Zimbabwe money. Do you really want the government to keep printing out more to keep housing prices up and get bad debt erased while wiping out all savings like Germany 1923??
[Indeed. And note the absolute opposite response to inflation in China: “While Ben Bernanke continues to cut interest rates to spur easy credit and artificial economic growth—and to make his political masters look good—China raised interest rates six times last year.”–IM]
Well of course now McCain is calling for a suspension of Friday’s first debate so that he and Barack can address the current crisis: http://www.worldnetdaily.com/index.php?fa=PAGE.view&pageId=76108
But I wonder if either candidate will take a cue from the wisdom of Sen. Bunning (which state is he from?) and dare to bring up the “financial socialism” issue. Doubtful, I believe.
Failing to lower interest rates, or increasing interest rates, or failure to expand the money supply, or decreasing the money supply, is what caused the Great Depression. At ZERO percent interest, or even negative rate interest, at least eliminates the Federal Reserve Banks swindle from interest rate earnings, if not the principal swindle. Alternatively, the US Treasury could print the money instead, and thus prevent the Federal Reserve Banks swindle by the Fed printing their own money out of thin air, saving taxpayers from paying real money back for the Fed’s fraudulent money.
Bunning is from Kentucky. He is also a Major League Baseball Hall of Fame pitcher.
http://www.baseball-reference.com/b/bunniji01.shtml
Well, isn’t this just special? The banksters think we owe them another trillion dollar bailout so that their house of cards, their 500 trillion dollars in gentleman’s bets (made at our expense, of course)- doesn’t come tumbling down.
There is no clean way to undo this mess. However, due to the massive theft and fraud which have been perpetrated, the only legitimate action is to freeze the assets of all participants and begin criminal proceedings. Perhaps we can even work in treason charges and begin executing the bastards?
A lot of the so-called money has been wasted and will not be recoverable, but that’s no excuse for not trying. Sell the yachts and the mansions, sell the factories to the workers. As Andrew Mellon said in 1929- liquidate them all!
I am a committed philosophical libertarian who finds himself in the truly nauseating position of agreeing with the American communist party (see “out of left field” on Wednesday’s Worldnetdaily).
Politicians and banksters- listen carefully- we the people work for a living. We expect to live decently in the modern world and be fairly compensated for the pieces of our lives we’ve been selling. We live in humble to modest homes and drive humble to modest cars. We’ve listened for years to you half wits and village idiots telling us that our jobs don’t matter- we’re mere technicians- engineers are expenses- it’s OK to sell out labor jobs because they can be retrained as computer programmers!!! But there’s not enough of those so we need to outsource those jobs or import them (at one fourth the wages, of course)- We can have a service economy and all sell real estate to each other!!! All it takes is a positive attitude and the moral flexibility to say,”Yes Sir!” Ad Nauseum.
We haven’t taken action against your legions of cops and snoops even though there’s a lot more of us than there are of them. We’ve always quietly gone to church, lived the best we can. We’ve accumulated gold and guns when we’ve been able. We’ve also accumulated your usurious credit card debt when we’ve had sick family members or when your outsourcing and amoral bean counting drove our wages and employment away. The promise of the industrial and automation revolutions was that everyone would be richer, not that we’d have to run ever faster to survive while you lived oh so well.
We’ve gritted our teeth and paid the so called child support when you added legions of new government make-work jobs- putting welfare on the backs of individual men while malignantly growing the welfare budget was a masterful, clever, and evil trick.
We’re damned tired of you crooks. There will be a price to pay- and the bill comes due when enough American people can no longer afford the $20/gallon gas and the imported electronics. Then the distraction that cars, jobs, and TV provided will disappear. And by the way- thanks to your ripping off of the Russians, the South Americans, the Africans- your globalization (is that a contraction for globalized exploitation?)- there will be very few places you can hide.
So inflate away, boys. We’re waiting.