Here’s some information from an old friend who has some experience from having worked with Fannie Mae some years back…he wanted to write a piece for the blog so my readers might better understand some things he feels are misunderstood:
Bailing out Fannie and Freddie wouldn’t really be anything new. All of this used to be owned by the government. Congress created FNMA (Fannie-Mae), which stands for Federal National Mortgage Association, in 1938 during the Great Depression, and Freddie Mac (FHLMC), Federal Home Loan Mortgage Corporation, in 1970. It was the only part of our government which made a profit so, naturally, they privatized it! (Go figure!)
An important thing I want to point out is this whole situation is not as dire as the media is making it. It’s only a loan and most, if not all, of the loans will eventually be repaid by the borrowers in these pools of loans at the various banks and other lending institutions. The media won’t point that out! Once the government bails out the bank, the government owns all the loans in that pool and keeps the interest. The bank gets paid a percentage, usually ¼%, so it’s not like the rest of our national debt for which we will never be reimbursed…..see my point?
Mal Telloian
Las Vegas, Nevada
Do you see Mal’s point? Please chime in if you agree or disagree or just have something to add. I think a lot of us are in the dark on this stuff (I know I am!) and would like even more information! TONIGHT the news is reporting that Bernanke has said Fannie and Freddie are in good shape. They back approximately 51% of the mortgages in this country.
This morning, the GOPUSA sent me this: Another viewpoint worth reading: by Lawrence Kudlow re: Fannie and Freddie. All very interesting.
31 comments:
I admittedly am NO expert about this area. However, I am prone to place more weight on this opinion when it is up against the opinion of the media who distorts and lies on a regular basis. That may make me simple minded but that is a title I am not afraid to wear. Thanks for this other view.
If the government will bail them out of a jam, where's their incentive to not get in a jam?
how connected are you z? is there anyone you don't know girl?... do you like the new bill i saw congress is passing in an attempt to stop predatory lenders? suprise suprise it protects big business and not the little guy... and the dems say they are always looking out for "us"... hmmm!!
It's a kind of d***ed if you do agree with intervention, and d***ed if you don't. Although I agree to an extent with Beamish and I can't stand the nanny state, these are real people who will lose everything and who have paid taxes all their lives. In my opinion, they can't just be turned out into the streets with nothing. Something in the current system has let them down.
I have a slightly different take on this. When I applied for my first home loan in 1982, I had to pay "insurance" that guaranteed that loan to the tune of around one hundred dollars per month (1/8th of my total payment) (PMI) UNTIL I had a 20% equity stake in the property, and then I was no longer required to pay insurance. That loan was backed by FHA.
What I want to know is, WHO collected the PMI on all these loans and WHY weren't THEY responsible for the defaults?
...and if the party responsible for guaranteeing the loans WAS Freddie and Fannie, then how do we know that they STILL aren't making BAD LOANS hand over fist?
If so, this is simply the first installment in throwing good money after bad...
Fannie and Freddie are what is known in the insurance business as a MORAL HAZARD.
from Wikipedia...
No actual guarantees
Fannie Mae receives no direct government funding or backing; Fannie Mae securities carry no government guarantee of being repaid. This is explicitly stated in the law that authorizes GSEs, on the securities themselves, and in many public communications issued by Fannie Mae.
Neither the certificates nor payments of principal and interest on the certificates are guaranteed by the United States government. The certificates do not constitute a debt or obligation of the United States or any of its agencies or instrumentalities other than Fannie Mae.
Assumed guarantees
There is a wide belief that FNMA securities are backed by some sort of implied federal guarantee, and a majority of investors believe that the government would prevent a disastrous default. Vernon L. Smith, 2002 Nobel Laureate in economics, has called FHLMC and FNMA "implicitly taxpayer-backed agencies." The Economist has referred to "[t]he implicit government guarantee" of FHLMC and FNMA. In testimony before the House and Senate Banking Committee in 2004, Alan Greenspan expressed the belief that Fannie Mae's (weak) financial position was the result of markets believing that the U.S. Government would never allow Fannie Mae (or Freddie Mac) to fail
...and the people who "built" this MORAL HAZARD (CONGRESS) KNEW THE TAXPAYERS WOULD GET STUCK WITH THE BILL!!!
i've been studying these two cretins most of the morning - everything from their beginnings to the money they spend on lobbying and the fact that BOTH candidates are somehow embroiled in it.
this is disgusting at best. how this plays out will be very interesting. i left a link to some very prophetic material written five years ago on both at tmw's. as i was reading it i thought "AH-HA!" and then i looked at the date and it became eerie.
The Marxian ENEMEDIA and the Marxian DESTRUCTOCRATS want to do everything possible to persuade the nation that we are teetering on the brink of a bottomless pit, so they can get themselves swept into almighty and everlasting power in order to "save" us all, God forbid!
I understand Mal's point, and would agree, but I think it ill-advised to use ANY taxpayer's money to bail out greedy SPECULATORS who bought up already-inflated properties on very thin margin with the intent to "flip" them in less than a year, and thus get rich quick.
Also a LOT of unqualified people, who USED to be "red-lined" (GREAT policy! Too bad it was halted by the Dimwits) were stupidly encouraged by a short-sighted mortgage industry intoxicated with greed to take on obligations they couldn't possibly hope to fulfill.
I have read in any number of places lately that NINETY-FIVE PERCENT of current mortgage holders ARE in fact making their payments on time.
Media Dragons MUST be SLAIN by liberal doses of TRUTH.
~ FreeThinke
I'm wondering if NOT bailing out Bear Stearns (most say our economy wouldn't have made it had we not) or getting involved with the F Mae's is sort of like Republicans voting for Obama "to show Republicans they deserve what happened for nominating McCain"...
I'm thinking we're in a bigger mess than we think we are and, while I HATE ANY gov't bailouts (remember, I even wrote against the rebates we're all supposedly getting..I haven't yet), I'm not sure going into debt to Saudi Arabi's the answer and who else would these companies have gone to for $$$$?
Ya, I know...I'm not economically gifted, but from my little knowledge, that's my take.
Straighten me out; I want to learn.
NOT bailing out anyone is the "proper" thing to do... but we have not been doing things "properly" since FDR "learned" the great lessons of the Great Depression (can anybody say JM Keynes?).
Recessions serve a very VALUABLE function. They keep the consequences for violating the "moral hazard" of individual irresponsibility exactly where it belongs. They force individual people to "save" for the "hard times", and they "prune out" and correct economically irresponsible behaviors (questionable lending practices) before they can become "catastophic disasters".
Unfortunately, we have come EXPECT the government of today to shield us all from feeling the effects of the slings and arrows of outrageous fortune. None of our children have experienced a severe recession, let alone an economic depression. This does nothing but make subsequent generations of Americans economically progressively stupider and stupider to the point where we MUST penalize all economic successes (thru ever increasing taxes) and reward all economic failures (thru social safety nets) and eventually turn control of EVERYTHING over to the government just to keep "the collective" afloat.
And when this "protected herd" discovers one day that all the food is gone (Social Security???), the resulting famine will obliterate all but a "criminal few" (yes, saving and behaving responsibly will eventually be deemed criminal) who were able to defraud the herd and squirrel away their own private stashes.
Yay, Farmer John! You've nailed it. It jut kills me the way "everybody" just blithely ACCEPTS the FDR Myth he and his henchman created but Himself, while denigrating Herbert Hoover, who was an EXTRAORDINARILY fine man.
FT
One of the 6,343,972 things I hate about Comrade Franklin Demento Roosevelt is that he accused Herbert Hoover of being a socialist (then expanded Hoover's social programs and created even more after being elected).
Nothing pisses me off more than a thief without honor.
That isn't to say ol' Herbie wasn't a socialist... he did rail against laissez faire awful fiercely.
Don’t believe one optimistic word from any public figure about the economy or humanity in general. They are all part of the problem. Its like a game of Monopoly. In America, the richest 1% now hold 1/2 OF ALL UNITED STATES WEALTH. Unlike ‘lesser’ estimates, this includes all stocks, bonds, cash, and material assets held by America’s richest 1%. Even that filthy pig Oprah acknowledged that it was at about 50% in 2006. Naturally, she put her own ‘humanitarian’ spin on it. Calling attention to her own ‘good will’. WHAT A DISGUSTING HYPOCRITE SLOB. THE RICHEST 1% HAVE LITERALLY MADE WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. Don’t fall for any of their ‘humanitarian’ CRAP. ITS A SHAM. THESE PEOPLE ARE CAUSING THE SAME PROBLEMS THEY PRETEND TO CARE ABOUT. Ask any professor of economics. Money does not grow on trees. The government can’t just print up more on a whim. At any given time, there is a relative limit to the wealth within ANY economy of ANY size. So when too much wealth accumulates at the top, the middle class slip further into debt and the lower class further into poverty. A similar rule applies worldwide. The world’s richest 1% now own over 40% of ALL WORLD WEALTH. This is EVEN AFTER you account for all of this ‘good will’ ‘humanitarian’ BS from celebrities and executives. ITS A SHAM. As they get richer and richer, less wealth is left circulating beneath them. This is the single greatest underlying cause for the current US recession. The middle class can no longer afford to sustain their share of the economy. Their wealth has been gradually transfered to the richest 1%. One way or another, we suffer because of their incredible greed. We are talking about TRILLIONS of dollars which have been transfered FROM US TO THEM. All over a period of about 27 years. Thats Reaganomics for you. The wealth does not ‘trickle down’ as we were told it would. It just accumulates at the top. Shrinking the middle class and expanding the lower class. Causing a domino effect of socio-economic problems. But the rich will never stop. They just keep getting richer. Leaving even less of the pie for the other 99% of us to share. At the same time, they throw back a few tax deductible crumbs and call themselves ‘humanitarians’. Cashing in on the PR and getting even richer the following year. IT CAN’T WORK THIS WAY. Their bogus efforts to make the world a better place can not possibly succeed. Any 'humanitarian' progress made in one area will be lost in another. EVERY SINGLE TIME. IT ABSOLUTELY CAN NOT WORK THIS WAY. This is going to end just like a game of Monopoly. The current US recession will drag on for years and lead into the worst US depression of all time. The richest 1% will live like royalty while the rest of us fight over jobs, food, and gasoline. So don’t fall for any of this PR CRAP from Hollywood, Pro Sports, and Wall Street PIGS. ITS A SHAM. Remember: They are filthy rich EVEN AFTER their tax deductible contributions. Greedy pigs. Now, we are headed for the worst economic and cultural crisis of all time. Crime, poverty, and suicide will skyrocket. SEND A “THANK YOU” NOTE TO YOUR FAVORITE MILLIONAIRE. ITS THEIR FAULT. I’m not discounting other factors like China, sub-prime, or gas prices. But all of those factors combined still pale in comparison to that HUGE transfer of wealth to the rich. Anyway, those other factors are all related and further aggrivated because of GREED. If it weren’t for the OBSCENE distribution of wealth within our country, there never would have been such a market for sub-prime to begin with. Which by the way, was another trick whipped up by greedy bankers and executives. IT MAKES THEM RICHER. The credit industry has been ENDORSED by people like Oprah Winfrey, Ellen DeGenerous, Dr Phil, and many other celebrities. IT MAKES THEM RICHER. Now, there are commercial ties between nearly every industry and every public figure. IT MAKES THEM RICHER. So don’t fall for their ‘good will’ BS. ITS A LIE. If you fall for it, then you’re a fool. If you see any real difference between the moral character of a celebrity, politician, attorney, or executive, then you’re a fool. No offense fellow citizens. But we have been mislead by nearly every public figure. We still are. Even now, they claim to be 'hurting' right along with the rest of us. As if gas prices actually effect the lifestyle of a millionaire. ITS A LIE. IN 2007, THE RICHEST 1% INCREASED THEIR AVERAGE BOTTOM LINE WEALTH AGAIN. On average, they are now worth over $4,000,000 each. Thats an all time high. As a group, they are now worth well over $17,000,000,000,000. THATS WELL OVER SEVENTEEN TRILLION DOLLARS. Another all time high. Which by the way, is much more than the entire middle and lower classes combined. Also more than enough to pay off our national debt, fund the Iraq war for twenty years, repair our infrastructure, and bail out the US housing market. Still think that our biggest problem is China? Think again. Its the 1% club. That means every big name celebrity, athlete, executive, entrepreneur, developer, banker, and lottery winner. Along with many attorneys, doctors, politicians, and bankers. If they are rich, then they are part of the problem. Their incredible wealth was not 'created', 'generated', grown in their back yard, or printed up on their command. It was transfered FROM US TO THEM. Directly and indirectly. Its become near impossible to spend a dollar without making some greedy pig even richer. Don't be fooled by the occasional loss of a millionaire's fortune. Overall, they just keep getting richer. They absolutely will not stop. Still, they have the nerve to pretend as if they care about ordinary people. ITS A LIE. NOTHING BUT CALCULATED PR CRAP. WAKE UP PEOPLE. THEIR GOAL IS TO WIN THE GAME. The 1% club will always say or do whatever it takes to get as rich as possible. Without the slightest regard for anything or anyone but themselves. Reaganomics. Their idea. Loans from China. Their idea. NAFTA. Their idea. Outsourcing. Their idea. Sub-prime. Their idea. High energy prices. Their idea. Oil 'futures'. Their idea. Obscene health care charges. Their idea. The commercial lobbyist. Their idea. The multi-million dollar lawsuit. Their idea. The multi-million dollar endorsement deal. Their idea. $200 cell phone bills. Their idea. $200 basketball shoes. Their idea. $30 late fees. Their idea. $30 NSF fees. Their idea. $20 DVDs. Their idea. Subliminal advertising. Their idea. Brainwash plots on TV. Their idea. Vioxx, and Celebrex. Their idea. Excessive medical testing. Their idea. The MASSIVE campaign to turn every American into a brainwashed, credit card, pharmaceutical, medical testing, love-sick, celebrity junkie. Their idea. All of the above shrink the middle class, concentrate the world’s wealth and resources, create a dominoe effect of socio-economic problems, and wreak havok on society. All of which have been CREATED AND ENDORSED by celebrities, athletes, executives, entrepreneurs, attorneys, and politicians. IT MAKES THEM RICHER. So don’t fall for any of their ‘good will’ ‘humanitarian’ BS. ITS A SHAM. NOTHING BUT TAX DEDUCTIBLE PR CRAP. In many cases, the 'charitable' contribution is almost entirely offset. Not to mention the opportunity to plug their name, image, product, and 'good will' all at once. IT MAKES THEM RICHER. These filthy pigs even have the nerve to throw a fit and spin up a misleading defense with regard to 'federal tax revenue'. ITS A SHAM. THEY SCREWED UP THE EQUATION TO BEGIN WITH. If the middle and lower classes had a greater share of the pie, they could easily cover a greater share of the federal tax revenue. They are held down in many ways because of greed. Wages remain stagnant for millions because the executives, celebrities, athletes, attorneys, and entrepreneurs, are paid millions. They over-sell, over-charge, under-pay, outsource, cut jobs, and benefits to increase their bottom line. As their profits rise, so do the stock values. Which are owned primarily by the richest 5%. As more United States wealth rises to the top, the middle and lower classes inevitably suffer. This reduces the potential tax reveue drawn from those brackets. At the same time, it wreaks havok on middle and lower class communities and increases the need for financial aid. Not to mention the spike in crime because of it. There is a dominoe effect to consider. IT CAN'T WORK THIS WAY. But our leaders refuse to acknowledge this. Instead they come up with one trick after another to milk the system and screw the majority. These decisions are heavily influensed by the 1% club. Every year, billions of federal tax dollars are diverted behind the scenes back to the rich and their respective industries. Loans from China have been necessary to compensate in part, for the red ink and multi-trillion dollar transfer of wealth to the rich. At the same time, the feds have been pushing more financial burden onto the states who push them lower onto the cities. Again, the hardship is felt more by the majority and less by the 1% club. The rich prefer to live in exclusive areas or upper class communities. They get the best of everything. Reliable city services, new schools, freshly paved roads, upscale parks, ect. The middle and lower class communities get little or nothing without a local tax increase. Which, they usually can't afford. So the red ink flows followed by service cuts and lay-offs. All because of the OBSCENE distribution of bottom line wealth in this country. So when people forgive the rich for their incredible greed and then praise them for paying a greater share of the FEDERAL income taxes, its like nails on a chalk board. I can not accept any theory that our economy would suffer in any way with a more reasonable distribution of wealth. Afterall, it was more reasonable 30 years ago. Before Reaganomics came along. Before GREED became such an epidemic. Before we had an army of over-paid executives, bankers, celebrities, athletes, attorneys, doctors, investors, entrepreneurs, developers, and sold-out politicians to kiss their asses. As a nation, we were in much better shape. Strong middle class, free and clear assets, lower crime rate, more widespread prosperity, stable job market, lower deficit, ect. Our economy as a whole was much more stable and prosperous for the majority. WITHOUT LOANS FROM CHINA. Now, we have a more obscene distribution of bottom line wealth than ever before. We have a sold-out government, crumbling infrastructure, energy crisis, home forclosure epidemic, credit crunch, weak US dollar, 13 figure national deficit, and 12 figure annual shortfall. The cost of living is higher than ever before. Most people can't even afford basic health care. ALL BECAUSE OF GREED. I really don't blame the 2nd -5th percentiles in general. No economy could ever function without some reasonable scale of personal wealth and income. But it can't be allowed to run wild like a mad dog. ALBERT EINSTEIN TRIED TO MAKE PEOPLE UNDERSTAND. UNBRIDLED CAPITALISM ABSOLUTELY CAN NOT WORK. TOP HEAVY ECONOMIES ALWAYS COLLAPSE. Bottom line: The richest 1% will soon tank the largest economy in the world. It will be like nothing we’ve ever seen before. The American dream will be shattered. and thats just the beginning. Greed will eventually tank every major economy in the world. Causing millions to suffer and die. Oprah, Angelina, Brad, Bono, and Bill are not part of the solution. They are part of the problem. THERE IS NO SUCH THING AS A MULTI-MILLIONAIRE HUMANITARIAN. EXTREME WEALTH MAKES WORLD PROSPERITY ABSOLUTELY IMPOSSIBLE. WITHOUT WORLD PROSPERITY, THERE WILL NEVER BE WORLD PEACE OR ANYTHING EVEN CLOSE. GREED KILLS. IT WILL BE OUR DOWNFALL. Of course, the rich will throw a fit and call me a madman.. Of course, they will jump to small minded conclusions about 'jealousy', 'envy', or 'socialism'. Of course, their ignorant fans will do the same. You have to expect that. But I speak the truth. If you don’t believe me, then copy this entry and run it by any professor of economics or socio-economics. Then tell a friend. Call the local radio station. Re-post this entry or put it in your own words. Be one of the first to predict the worst economic and cultural crisis of all time and explain its cause. WE ARE IN BIG TROUBLE.
So what can we do about it? Well, not much. Unfortunately, we are stuck on a runaway train. The problem has gone unchecked for too many years. The US/global depression is comming thanks to the 1% club. It would take a massive effort by the vast majority to prevent it. Along with a voluntary sacrifice by the rich. THATS NOT GOING TO HAPPEN. But if you believe in miracles, then spend your money as wisely as possible. Especially in middle and lower class communities. Check the Fortune 500 list and limit your support of high profit/low labor industries (Hollywood, pro sports, energy, credit, pharmaceutical, cable, satelite, internet advertising, cell phone, high fashion, jewelry, ect.). Cancel all but one credit card for emergencies only. If you need a cell phone, then do your homework and find the best deal on a local pre-pay. If you want home internet access, then use the least expensive provider, and share accounts whenever possible. If you need to search, then use the less popular search engines. They usually produce the same results anyway. Don't click on any internet ad. If you need the product or service, then look up the phone number or address and contact that business directly. Don't pay to see any blockbuster movie. Instead, wait a few months and rent the DVD from a local store or buy it USED. If you want to see a big name game or event, then watch it in a local bar, club, or at home on network TV. Don't buy any high end official merchendise and don't support the high end sponsors. If its endorsed by a big name celebrity, then don't buy it. If you can afford a new car, then make an exception for GM, Ford, and Dodge. If they don't increase their market share soon, then a lot more people are going to get screwed out of their pensions and/or benefits. Of course, you must know by now to avoid those big trucks and SUVs unless you truly need one for its intended purpose. Don't be ashamed to buy a foreign car if you prefer it. Afterall, those with the most fuel efficient vehicles consume a lot less foreign oil. Which accounts for a pretty big chunk of our trade deficit. Anyway, the global economy is worth supporting to some extent. Its the obscene profit margins, trade deficits, and BS from OPEC that get us into trouble. Otherwise, the global economy would be a good thing for everyone. Just keep in mind that the big 3 are struggling and they do produce a few smaller reliable cars. Don't frequent any high end department store or any business in a newly developed upper class community. By doing so, you make developers richer and draw support away from industrial areas and away from the middle class communities. Instead, support the local retailer and the less popular shopping centers. Especially in lower or middle class communities. If you can afford to buy a home, then do so. But go smaller and less expensive. Don't get yourself in too deep and don't buy into the newly developed condos or gated communities. Instead, find a modest home in a building or neighborhood at least 20 years old. If you live in one of the poorer states, then try to support its economy first and foremost. Big business is fine on occasion depending on the profit margins and profit sharing. Do your homework. If you want to support any legitimate charity, then do so directly. Never support any celebrity foundation. They spend most of their funding on PR campaigns, travel, and high end accomodations for themselves. Instead, go to Charitywatch.org and look up a top rated charity to support your favorite cause. In general support the little guy as much as possible and the big guy as little as possible. Do your part to reverse the transfer of wealth away from the rich and back to the middle and lower classes. Unfortunately, there is no perfect answer. Jobs will be lost either way. Innocent children will starve and die either way. But we need to support the largest group of workers with the most reasonable profit margins. We also need to support LEGITIMATE charities (Check that list at Charitywatch.org). This is our only chance to limit the severity and/or duration of the comming US/global depression. In the meantime, don't listen to Bernenke, Paulson, Bartiromo, Orman, Dobbs, Kramer, OReiley, or any other public figure with regard to the economy. They are all plenty smart but I swear to you that they will lie right through their rotten teeth. IT MAKES THEM RICHER. Like I said, you are welcome to run this by any professor of economics or socio-economics. If thats not good enough, then look up what Einstein had to say about greed, extreme wealth, and its horrible concequences. I speak the truth. GREED KILLS. IT WILL BE OUR DOWNFALL.
A word for those who choose to respond with the usual 'I know more than you. I'm smarter than you. Look how smart and knowledgable I am.' crap. Let me say this in advance. I don't claim to be an expert in this field. But I'm no fool either. This is not brain surgery. For the mostpart, its simple math. Which is all I needed to predict the current recession in writing almost 3 years ago. Since then, I've gone on record against people like Greenspan, Bernenke, and Paulson. So far, my predictions have been accurate. Did any of my wise-ass 'know-it-all' critics see this comming way back in '05'? Hell no they didn't. So before you run with all of your stupid insults, you might want to consider my motives. I'm not here for attention or praise. I'm not here to compete with the rest of you. I'm here because I'm disgusted, angry, and scared silly. I really do see this as the greatest injustice of all time. I would cut my own arm off if I thought it would make a difference.
MAL is ANONYMOUS and he has responded to some of your comments but forgot to include his name..
Let's hear some rebuttal. Please make sure you read his suggestions for improving our situation$$$
FIRE AWAY!! And thanks, Mal! WHOA!
Here's an "offbeat" article that just came my way. There is growing belief in some sectors–––particularly among the followers of Ron Paul–––that an International Money Elite is and has been running the show behind the scenes for a very long time. Their ultimate plans for us include loss of sovereignty, domination by a World Government and the institution of Worldwide Socialism where permanent serfdom awaits all not in The International Oligarchy of the Elite.
You seem to be leaning heavily in this direction, yourself, sir.
Please read this article and see if you don't concur.
––––––––––––––––
I AM AN AMERICAN!
by Chuck Baldwin
July 18, 2008
Free republics are not known to have long life expectancies. At the ripe old age of two hundred and thirty-two, America is definitely showing her age. She is long past her prime, and some are predicting her demise. No, some are PLANNING her demise.
Thomas Jefferson and the other founders of this once-great country believed there was a controlling cabal that was crafting America's servitude. With the assistance of Heaven, they decided to fight those forces. Pastors fought with fiery sermons from the pulpit; newsmen fought with the power of the pen; statesmen fought in the halls of Congress; and merchants fought with the sacrifice of their material gain. Together, they lifted Lady Liberty to her feet and defeated the powers of darkness.
It took the global elite a long time to recover, but they have reemerged with a vengeance. They are now on the precipice of accomplishing what their great granddaddies failed to do: bring the "Liberty or Death" colonists under their power and control.
Sadly, we no longer have the will to resist servitude. Our pulpits are too busy preaching a prosperity gospel; newsmen are in bed with the forces they once disdained; statesmen have been replaced with opportunistic, self-serving politicians; and merchants know no god but money. Hence, it is left to a small--and I mean very small--remnant to sound the clarion call for freedom and independence. Unfortunately, few seem to be listening to their cries.
2010 seems to be a banner year for these designers of despotism. That is the target year for the implementation of the North American Community, which will commercially unite the United States with Canada and Mexico. The global elite suffered a minor setback when the U.S. Senate failed to pass the Bush/McCain/Kennedy/Graham amnesty-for-illegal-aliens bill. But if you think that John Mccain is going to let that bill lie on the floor of defeat, you don't understand these people. Should McCain become President, He will do everything he can to implement some kind of amnesty law. Barack Obama will do the same. The reason? It is essential to the designers of despotism that our borders be eliminated.
Yes, I am saying it: George W. Bush, John McCain, and Barack Obama are part of the global elite that seeks America's entrance into an international New World Order. In fact, neither Presidential candidate from the two major parties will offer any resistance to this obstinate and oppressive oligarchy.
Perhaps one day the American people will wake up and realize that they are being led as sheep to the slaughter. I'm just not sure that it will be soon enough, however. 2010 is just around the corner.
There seems to be only one obstacle standing in the way of the globalists: America's citizens are the most heavily armed people in the world. That fact must surely stick in the throats of the globalists like a chicken bone.
Thank God that America's founders put the Second Amendment in the Constitution. Without America's deep-rooted commitment to the right of the people to keep and bear arms, we would have been sold into slavery decades ago.
Without the intellectual understanding of the principles of freedom and the moral resolve to maintain those principles, however, guns, by themselves, will only protect us for so long. In the end, our strength and protection come from God, and not too many people these days seem to be interested in His opinion.
Lady Liberty is walking very gingerly these days, and the path she treads is laden with traps and quicksand. The globalists have their handpicked puppets positioned to take up where The Three Amigos (George Bush I, Bill Clinton, and George Bush II) have left off. The pieces of the puzzle are almost all in place. 2010 just might be the year that Lady Liberty lowers her torch, folds her arms, and falls fast asleep.
For what it is worth, however, I pledge no loyalty to this emerging New World Order. Neither will I let Lady Liberty die without a fight. I will say it again: the battle today is not between conservatives and liberals or Republicans and Democrats. It is a battle between Americans and globalists. And, Ladies and Gentlemen, I am an American!
FreeThinke
it is a battle between right and wrong, good and evil. period. there is no grey area, f.t. that would be for relativists.
the gov will bailout the f.m.'s because the f.m.'s are more or less the gov - at least from what i've been reading. it's a cesspool that is in dire need of being cleaned.
i'm printing out mal's comment so i may read at my leisure.
i don't know alot about the economy, but i do know that our grocery bill has gone up by one third and our fuel bills have doubled in the last year. we just got notice from our power company that there's going to be a rate increase soon - so get ready! wooooo-ooooh - thankx for the warning.
how on earth are poor people making it? i read that last month more people paid their monthly bills and bought groceries and gasoline with CREDIT CARDS! they'll make a minimum payment this month - then what?
our pantry and freezers are full and we're going less and less and only dine out about once a month and sometimes that means bringing home pizza.
Nanc,
How in Heaven's name is your last post a response to ANYTHING I've said on this thread?
Sorry, I just don't get it–––or were you, perhaps addressing, FJ, instead fo FT?
FT
By the way, I believe EVERYTHING is a "Gray Area." Pure black and white exists only in the imagination.
Like it or not everything is nuanced. It just AIN'T simple.
FT
FT: Chuck Baldwin is the nominee from the Constitution Party which many Republicans are drawn to.
I wish they'd lay off till AFTER they vote for McCain (yuck) this year, tho.
Yes, there are a lot of problems with both the economy and our system of government. No, I don't think that the problems are readily "solvable" at the moment because far too many people are prospering today... probably more than ever before in the history of the world.
So hey, relax and enjoy the ride. If things get really bad, there will be ever greater and greater impetus and momentum building for change. But the way things stand now, people are more willing than ever to exchange their risky freedoms for the chains of safety in comfort and serfdom. But as individuals, there still exists a path towards freedom, should you choose to follow it instead of the herd. It's a harder and less luxurious road, but it's still available to everyone who's willing to walk it.
f.t. - it was in response to this statement of yours:
"I will say it again: the battle today is not between conservatives and liberals or Republicans and Democrats. It is a battle between Americans and globalists. And, Ladies and Gentlemen, I am an American!"
Ah, but it was not I who said that, nanc, it was Mr. BALDWIN who wrote the article I posted in response to Mal's lengthy and very disturbing post.
I don't necessarily agree with the quotations I post. Often I just hope to stimulate thought and the development of a topic I think worth discussing.
Best,
FT
my apology, f.t. - i was speedreading. again. so, do you agree with that statement or not?
Hi, nanc,
I think what Baldwin is saying is that the battle between Liberals and Conservatives, Left and Right, Democrats and Republicans, Patriots and Traitors, if you will is not the issue we need to dwell on anymore, because there is plenty of poor policy and blameworthiness in both factions.
Meanwhile, the Globalists (who have little or no loyalty to ANY country and are concerned only about the bottom line AND the acquisition of limitless power) and those who are still interested in The UNITED STATES of AMERICA as a special, sovereign entity with a unique foundation and a largely admirable past are in an undeclared, largely unrecognized war–––one that we would all do well to give more heed.
I read Mal's lengthy remarks and find it hard to believe they came from anyone who considers himself a Republican, but the R's are not at ALL what we want to BELIEVE they are. R's are not "good" and D's are not necessarily "evil."
It takes a lot of thought and a lot of digging to find and vanquish the bad. Evil is like CRABGRASS–––you can never quite get rid of it.
FT
THAT IS NOT MAL'S COMMENT!, the long one there with WALL STREET PIGS in it! I should have known better but he told me he'd posted a comment and I thought that was it.
Somehow, his comment didn't publish...
SO..SORRY. I should have known, it was so insane and so against all we (and Mal) hold near and dear.
Thanks! z
I want them to go out of business soon. If that means they sell all of their loans to the private sector, then FINE!
It's easy to get carried away with over-the-top rhetoric. I know my next point may be taken that way, but here it goes.
Fanny Mae and Freddie Mac are TEXTBOOK cases of economic fascism! They CANNOT survive in the long term witout costing the taxpayers billions. These fascist entities need not crash the economy, SELL them off to the private sector.
Morgan
Sorry for the confusion, too.
Two more reasons NOT to bail our Freddie & Fannie...
Post a Comment