To me the current "financial crisis" with a bailout to save the economy is coming with the help from the media manipulation factory to solve now the old bubble of sub prime mortgages.
Some leaders created a financial crisis just before the reelection - the timing is perfect - and are asking for a bailout based on stories about very complicated financial instruments and other banks' mistakes. We like to know more about "banks' mistakes."
Is it a conspiracy again? All of it is too similar with the manipulation for war case in Iraq and is coming from about the same team. Induce fear, spook and get approval for war or like now for whatever output is wanted, your money. The trade is: "Give the bailout or will be worse."
Does it make sense? Do you remember the web sites links with color maps indicating locations for Iraq' arms for mass destruction? Nobody found any proof of existence of arms of mass destruction in Iraq.
Now there is the urgency created by banks that slowed lending money to people and business. New car sales in the USA dropped more than 23% in September due to tougher lending policies in the last two weeks of the month on top of higher gas prices. This is a fact.
I am suspicious for good reasons
We shoot from the hip too often to find the American' freedom is eroded and central power is controlling more of our lives and needs. Remember the Patriot Act case after 9/11 and how hard is to reverse it.
Who will benefit from about one trillion dollars bailout in money and tax savings? The banks and companies will get rid of bad debts to get a fresh start. Really? Who created those debts in the first place? Will the same financial leaders be able to do it again, since there is an escape route and a precedent? Who will take care of these "innovators" and crooks?
Certainly will be an investigation of this financial crisis, because we ask for that.
What is the truth?
Banks' borrowing overnight from Federal Reserve and from central banks was and it is available. But many banks do not want to use more cash these days.Why the banks slowed lending in the last two weeks of September? It looks like a conspiracy. Create panic and get now the bailout to cover for years of mistakes and frauds and point to them as the today's financial crisis! Is this just a coincidence?
What should we do now?
Make the bailout a lending package with liens attached, charge small interest for long term if necessary, ask for transparency, quarterly reports, and keep them on a tight leash, insurance with CEO personal retribution and assets, etc. Protect financial institutions from Internet on line multiple fraudulent equity lending and mortgage fraud.
OK, there is a tighter policy for getting that car or mortgage credit. I understand that. This is actually to help the consumer get in better financial control, get in better control of his/her life. Who will qualify for credit now? My answer is: Who proves responsible for his/her financial actions.
Do you think there is a need for more financial education in high school? I wish for it.
- I am for eliminating temptation of those creative options like: bank financing with payments for "interest only" or confusing variable rates mortgages. Stop predatory lending.
- Also the "affordable housing" concept in practice created slumps and bad neighborhoods and it is the root cause for so many foreclosures. Stop sub-prime lending and the "creation" of financial instruments based on them.
Are these two lessons learned yet? We'll see.
From where I came it is easy to think like this. Read "The Escape" available on winner4us.com and see what humans can do to humans in the name of socialism into a totally government controlled society.
I certainly wish America and the global economy do not go for a long recession, and markets do recover the needed confidence to save my and yours' 401k pension funds.
Certainly we wish for a good president here. I will not like to take risks with a too young and inexperienced. We want also an honest team for presidential seats.
God bless America.
Become an SBI owner yourself here:
http://infopreneur.dum-spiro-spero.info
1 comments:
America's return from recession are awaited not only by Americans, but also by citizens from other parts of the globe.
We can get through this global economy crisis together as long as we keep our spirit high, while our feet are still on the solid ground facing the facts.
With Obama in charge, the rest of the world are also affected by the enthusiasm to move forward with confidence.
Post a Comment