. . . if it wasn’t so tragic.
THESE BIRDS DON’T EVEN TRY TO HIDE THEIR CONTEMPT: Contempt for certain racial groups, contempt for the middle class, contempt for state’s rights, contempt for professionals, contempt for white construction workers, contempt for economic freedom.
Citigroup has received $45 BILLION in taxpayer funding to stay in business. That’s $45,000,000,000.00 dollars. Guess how much Citigroup is worth? What’s that? Citigroup is worth $19 BILLION? You mean our government spent $45 Billion of our dollars to save a private company worth only $19 Billion? Return on investment? So far, net loss of $26 Billion.
Headline yesterday: Citi buys $50M luxury French jet
At our house, we have a Citimortgage at a high interest rate compared to current competitive rates.
Despite good income and a good credit rating, we can’t refinance and lower the rate because the rules have tightened, thanks to abuses by others, including the government. (Do I hear Fannie Mae?)
The value of our home has plummetted, thanks to the abuses of others, including people who don’t pay their bills, the government and run amok corporations.
So I rise to work today, knowing I’ll have to work harder and earn more money so we can pay our Citimortgage, so that Citigroup can squander money, so that the government can confiscate more of our income, to bailout Citigroup and others who have abused the system (do I hear Fannie Mae?), so that the government can rescue us via a $2 TRILLION stimulus package that will only worsen our situation. The politicians promised mortgage relief but where is it? Can’t find it! Don’t want it, but where is it!
(Oh. And taxes will of course increase. They must. How else will the government pay for enormous increases in government spending planned by this new government, including paying for condoms to give to kids who don’t use them spiking teen pregnancy requiring state-funded abortions? Don’t forget national healthcare and subsidies for green jobs putting Americans to work making solar panels nobody will buy. Stimulus We Can Believe In!)
But here is the capper!
Fannie Mae officials said yesterday they must have $16 BILLION in taxpayer money to stay afloat. (I wonder how much of that will wind up in the Obama re-election fund?)
Only in America do we create and sustain an entire industry (government) to subsidize failure.
Congress gave Treasury $350 BILLION a couple months back. Remember that? The banks got the dough. We don’t know what they did with it, although we hear about $1 million dollar office renovations and huge bonuses for execs in the multi-million dollar range. This new government wants to duplicate that stunning record of accomplishment by releasing another $350 BILLION of taxpayer money to ‘stimulate’ the economy. And the President wants an additional $900 BILLION to ‘stimulate’ the economy.
Two problems with all this: historically, we have NEVER spent our way out of a recession, so this simply will not work. All it will accomplish is a devaluation of currency (ushering in hyperinflation), putting our grandchildren and great grandchildren in debt.
Forget student loans. Newborns are now saddled with debt thanks to the politicians in Washington.
The other huge problem with all this: the so-called bailout funds the President wants to flood the economy with? That money won’t even be available for two to three years.
So much for the quick fix.
And they wonder why the only institution we have confidence in anymore is the military?
Anyone hear of the Cloward-Piven Strategy? Wouldn’t you be surprised to learn all this economic destruction and resulting centralization of power and wealth in Washington was planned and is being executed purposefully.
One word: CONTROL. Hey, fellow little people! This is not about helping you. It is about getting you in line.
Americans: your liberty is on the block. You sold it for a bowl of soup, and an interest-only loan with a balloon.
We have no one to blame but ourselves. Spoiled children always pay the piper in the end.
Socialism took over years ago. We were on the couch, watching football.
Posted by Allan Erickson 
GOODNESS WORLD LIFE BLOG 