Sunday, September 28, 2008

The "Bailout" of the Unworthy

This post is just to show that I am aware of the events of the present day, and not just buried in the Biblical past, although I prefer the supposed "dry" and "dusty" pages of the past to the ugly present.

When I first watched Wall Street taking a dive, I thought, like many others, of the crash of 1929 and the resultant Great Depression. And perhaps there are many parallels between the greed of the past and the greed of the present. I don't know enough about finance to even guess what caused the 1929 crash, except I have read that there was spiralling speculation on meaningless paper, people buying stock on credit, hoping to pay for it when that stock rose higher and they sold it. At some point, stock stopped going higher and those left holding all the stock that was not even paid for, were told they had to pay up. It is kind of similar, I guess, to the housing mortgage problem of today. If a house goes up to ridiculous levels in supposed value, and everyone buys at that level, or borrows against the house at that level, when the level drops, people are left holding mortgages that are more than the actual property is worth - and, incidentally, they can't pay, because the banks loaned to them even when their credit was bad and they were clearly unable to show ability to pay. I believe there is a lot more to this problem than that, but I think that the "straw that broke the camel's back" is the mortgage "crisis". All the other houses of cards will fall like dominoes because of the first domino - the mortgage and housing crisis.

What bothers me more than the crisis itself is the lies that are being propagated by professional politicians, a.k.a., Congress, a.k.a., our elected representatives (said with tongue firmly in cheek).
A majority of those of the Democratic Party persuasion began the mortgage problem to begin with by demanding that banks not be "prejudiced" against minority buyers, which, coincidentally, were often ineligible for a standard morgage loan. That is sad, yes, but if you can't afford something, it is better to find a real way to afford it, than to let government coerce banks into letting you borrow money you can't afford and may well end up foreclosing on. So - the bottom line to me is - the Democratic party - the party of creeping Socialism - is responsible for this debacle. I am not under the illusion, however, that Democrats are Satan and the Republicans are saints. Far from it, but, in this instance, the Democrats are firmly in the wrong.

Now the worst part. Those in Congress who caused this mess with their misplaced legislation are the very ones who are in charge of the solution. Those Democrats who, time and again, refused to allow Republicans or President Bush to put mechanisms in place that would mitigate the coming financial disaster, are now pointing fingers at everyone else, especially Republicans, as the cause of the crisis. They are lying and they know it. These are our elected representatives, and they are lying and they know they are lying. They are counting on the stupidity of the American people, which is pretty depressingly high. They are also trying to use this "opportunity", though it should hardly be considered that, to pad their pockets with more money and to insure their power over what should be a free market.

The whole bailout debacle is just a shocking example to me of how far gone our government is, and how drugged by socialist thinking the American public is.

I think we should somehow kick every Congressperson OUT of office TODAY and find a way to elect worthy replacements, if any exist - and that is the absolute worst - IF any exist.

I'm going back to my Bible study now because He will be my Rock in the midst of this filthy mess America is in.

Here is a video that tells the truth that I think everyone should see.


Unknown said...

What baffles me most of all (1) how fragile our financial system was and (2) that nobody was smart enough to see it coming, ... either in government or in the companies themselves.

Brenda@CoffeeTeaBooks said...

Thank you so much for your concern.

I wasn't feeling well but I finally posted a Sunday Afternoon Tea!

It reminds me a lot of this post. :)

Anonymous said...

I just sent an email to Bill O'Reilly because I was so pissed off about the crap today from nancy Pelosi. What a waste! I agree with you send our legislative branch home - every one of them - they make me sick with their stupid political posturing. I literally am sick of them all. I tried to get on the offical speaker of the house web site for jerkoff Pelosi to tell her what i thought of her. Funny, you can't get on ANY of her websites - I am betting there has ben so much outrage, they have shut them down. . . stupid asses.

Susan Humeston said...

Even though the markets around the world are taking a bad hit, I am glad the bailout bill did not pass. It was, from what I was reading on Michelle Malkin's blog -unconstitutional in many areas. I try not to listen to Nancy Pelosi -I would have the same reaction and I don't need to aggravate myself.