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American Political Orphan
"Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!" Patrick Henry
The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.
Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials.
We’re talking about the Federal Reserve Bank of New York, whose role as the most influential part of the federal-reserve system—apart from the matter of AIG’s bailout—deserves further congressional scrutiny.
Yet when unelected and unaccountable agencies pick banking winners while trying to end-run Congress, even as taxpayers are forced to lend, spend and guarantee about $8 trillion to prop up the financial system, our collective blood should boil.
Heck of a business model. AIG takes huge risks and when thing are good they take their profit. When things go bad they are ‘too big to fail’ and get bailed out by the American taxpayer.
As Reilly says ‘our collective blood should boil.’
There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are leading the effort.
According to the article, as of mid 2009 there was 3.6 trillion dollars in IRAs and 401(k)s. Thats a tempting sum to the Obama Administration and the Democrats when they are pilling up an unsustanable level of debt. They want to sieze it and convert it to annuities so that retires will receive “steady payment streams.”
Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!
Forcing people into Treasuries as an “annuity” is exactly what Social Security allegedly is. Except that Treasury stole the money that was collected in FICA taxes and spent it!
Guess what? They’ll do that here too - you’re going to “invest” in Treasuries which of course are effectively a CALL option on the future taxing ability of the government.
Let’s see if I understand this. The government takes your IRA / 401(k) and gives you an IOU. Then they pay you back in inflated dollars in equal monthly payments until you die. Haven’t they done this already with the generational ponzi scheme called Social Security? I wonder if they have hired Bernie Madoff as a consultant?
WASHINGTON, Dec 15 (Reuters) - The House of Representatives will vote on a short-term boost to the U.S. debt limit this week TO AVOID A GOVERNMENT DEFAULT and give lawmakers more time to try to cut the record federal deficit, House Democratic leader Steny Hoyer said on Tuesday.
READ - US GOVERNMENT ON VERGE OF DEFAULT ON IT’S DEBT
‘If we don’t pass it, here’s the guarantee….your premiums will go up, your employers are going to load up more costs on you,’ he said. ‘Potentially they’re going to drop your coverage, because they just can’t afford an increase of 25 percent, 30 percent in terms of the costs of providing health care to employees each and every year.’
‘Eventually You Run Out Of Other People’s Money’ - Thatcher
The president said that the costs of Medicare and Medicaid are on an ‘unsustainable’ trajectory and if there is no action taken to bring them down, ‘the federal government will go bankrupt.’
Mr. President, you are a fool! It is not health care that is the problem it is the insatiable appetite of the Democrat Party to SPEND! The bill is coming due and you can’t pay it. Now, today the United States Of America may not be able to pay their debt. It’s directly your fault. Actually it IS your fault!
Calling Dodd ‘the single-most gifted legislator in Congress, now that Teddy Kennedy’s gone,’ Biden praised him for chairing two committees in a national crisis. Biden said the consequences would have been ‘dire’ had Dodd failed.
Hey Joe, the consequences for our economy are “dire” because of Senator Dodd’s choice to look the other way. The industry he was supposed to regulate gave and recived special favors from Senator Dodd.
Examples from CBS;
close connections to leading bankers…. One such connection is to former Bear Stearns director Edward Downe Jr., who once shared a condo with Dodd. After Downe’s conviction for insider trading, Dodd leaned on President Clinton to pardon Downe at the end of his presidency.
Countrywide gave him “VIP” treatment in refinancing his home.
his role in the payment of bonuses to executives at AIG, the troubled firm that received a massive federal bailout.
Those are just examples given by CBS. If his role in the Mortgage and Banking crisis was properly investigated the list would be long, very long.
Term Limits
No worries! The people of Connecticut will be judge and jury in November.
Term limits from the ballot box, it’s a beautiful thing.
Mr. President, America doesn’t want government provided health care, PERIOD!
Americans love their freedom and are not willing to give it up. What your plan does is enslave the whole nation who will have to depend on government for their very life. When govenment makes the decision whether you live or die, there is no freedom.
The ads all feature a doctored image of a current world leader - so that they look about ten years older - apologising from the future (2020 to be precise) saying, ‘I’m sorry. We could have stopped catastrophic climate change… We didn’t.’
‘It’s an apology from the future aimed at putting pressure on- and just maybe making these world leaders think twice about the consequences of their action or inaction now,’ explains the writer of the ads Toby Cotton of new agency Arc Communications.
‘The brief from Greenpeace International was simple,’ he continues, ‘to put pressure on world leaders to create a fair and binding agreement at Copenhagen.’
Once the manic burst of building has stopped and the whirlwind has slowed, the secrets of Dubai are slowly seeping out. This is a city built from nothing in just a few wild decades on credit and ecocide, suppression and slavery. Dubai is a living metal metaphor for the neo-liberal globalised world that may be crashing – at last – into history.
On the eve of Saturday’s showdown in the Senate over health-care reform, Democratic leaders still hadn’t secured the support of Sen. Mary Landrieu (D-La.), one of the 60 votes needed to keep the legislation alive. The wavering lawmaker was offered a sweetener: at least $100 million in extra federal money for her home state.
And so it came to pass that Landrieu walked onto the Senate floor mid-afternoon Saturday to announce her aye vote—and to trumpet the financial ‘fix’ she had arranged for Louisiana. ‘I am not going to be defensive,’ she declared. ‘And it’s not a $100 million fix. It’s a $300 million fix.’
Landrieu Still Expects More
‘My vote today,’ she said in a soft Southern accent that masked the hard politics at play, ‘should in no way be construed by the supporters of this current framework as an indication of how I might vote as this debate comes to an end.’ Among the concessions she’ll seek: more tax credits for small business and a removal of the version of the ‘public option’ now in the bill.
Apparently looting the treasury for any purpose including buying the votes of United States Senators is just standard operating procedure for Democrats. How did we get to a 12 Trillion dollar deficit and future obligations of 56 Trillion dollars? It’s easy. 300 Million here, 300 Million there, it adds up rather quickly.
In regard to your support of ‘Health Care Reform.’ Of course, thats what you Democrats are calling it. Do you know what it should be called? How about “The Destruction Of Health Care In America Act?’ Thats a more honest title. Don’t you think?
Go ahead,
Vote for the destruction of the best health care available in the world.
Go ahead,
Vote for massive taxes on the American People. We are already taxed beyond anything our Founding Fathers would have ever imagined. Why not more? What’s a Trillion dollars to you anyway? What’s wrong with a 12 Trillion debt, or future debt obligations of 56 Trillion dollars? Apparently it doesn’t bother you a bit.
Go ahead,
Vote for Death Panels.
Vote for criminal charges for not buying health care coverage.
Vote to have the IRS enforce your will upon the American People.
Vote against the Senior Citizens of the State of Florida.
Vote for the economic destruction of our economy.
Vote for massive unemployment.
The tyranny of King George would be more preferable to what you and your party are forcing on the American People.
Here’s a Prediction! If you vote for this bill, you will be fired on November 6, 2012
President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.
It is important though to recognize if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession
All House Speaker Nancy Pelosi (D-Calif.) wants for Christmas is healthcare reform.
The speaker told constituents yesterday that she wants to finish health reform as a “Christmas present” for the country.
“I’m hopeful that we will have a bill as a Christmas present for the American people,” Pelosi said, according to KCBS. “But we will have a bill and it will be soon.”
Hey Pelosi! The best Christmas present you could give the American People would be to resign.
The Democrat and Republican Party have lost touch with the American People. They have become the political elite and We the People have become "fly-over country." I am not a Nazi, a terrorist, a member of the KKK, a racist, or a member of an angry mob. I'm not a birther, teabagger, truther or astroturfer. I do, however believe in the original intent of the Founding Fathers, the United States Constituton and the rule of law. I believe that Government should serve the People, not the other way around. I’m an American and conservative to my very core.
