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July 16, 2008
Source: Los Angeles Times
July 15, 2008
Feds cite Schumer in collapse of IndyMac
Source: World New Daily
July 10, 2008
In the eye of an economic storm -- Craig R. Smith
July 19, 2008
America's Economic Furture, a la Zimbabwe
America's economy needed a quick and painless heart-attack. With a solid underlying economic infrastructure, that painless heart-attack would have cleared the way for a robust and youthful economy to replace the old dead corpse of failed central planning from Washington. But no!!! Our central planners have kept America's economy on life-support, while financial surgeons remove our vital organs and transport them overseas to China, India and Europe.
If you want to peer into the crystal-ball to see America's economic future, you only have to look at the $100 BILLION dollar banknotes their government is floating that can't even buy a Big Mac.
Budweiser beer was the perfect industry. In good times, be it a good economy or the birth of a child, or a winning football team, we celebrated with a Bud. In bad times, be it a bad economy, or the death of a child or a losing football team, we consoled ourselves with a Bud.
Budweiser was sold to a Belgium beer company this week for $52 billion dollars. Miller had already been sold to SAB of South Africa? Coors also had been sold to Molson of Canada.
Let's face the facts of life. The Baby Boomer generation is headed into retirement, so what does that entail for us.
For the last 30-years, the Baby Boomers have been working and saving for retirement by pumping money into the stock market. The Law of Supply and Demand pushed the stock market up to the point of creating a bubble. What goes up must eventually come down. For the next 30-years, they will be pulling money out of the stock market. And The Law of Supply and Demand will pull the stock market down to levels we never dreamed of. Add to the fact that, America may not have any companies left to invest in anyway, after all our technology has been transferred overseas. GM has lost $50 billion dollars in the last several years.
In the last 30-years, the Baby Boomer generation demanded homes, big homes, as they were raising their two children, and the baby sitters and gardeners they hired from Central America also demand homes while their brothers and dads built those homes of chalk-board and 2x4 sticks that take 30-years to pay for. But the Baby Boomer Generation is about to go bust and they are now moving out of their big homes into retirement homes or even moving in with their kids for the next 30-years. The mini-mansions will become ghost mansions, and the homes of the Central Americans will become ghost towns as they find themselves no longer needed and headed back to their families in Central America (or not). The Indians and Chinese professionals hired to provide services to the Baby Boomers may be asked to leave as well if political correctness gives way to reality, further depressing the housing market. The housing market is just embarking on a 30-year bust to coincide with the 30-year stock market bust.
Savings rates at banks are 2% to 4%, while the inflation rate is 8% to 9%. Savers are losing money with each passing day.
The next bubble will be the developing commodities market, as oil prices surge along with copper, zinc, gold, and many other commodities prices. Yet, new production capacity will hit at the same time that the commodity prices have sapped the last remaining energy out of the economy, the double whammy causing the last free fall.
Who to blame? Greedy oil companies? Futures traders in oil? Stock traders who are just futures traders in companies? The blame used to be placed on "lazy union workers".
Congress loves to play the blame game, yet it is interesting that our beloved (by only 9% of the population) Congress always seems to write laws harming the economy and then we find them wiping their hands after the damage has been done, even having the gall to ask for even more authority for socialized central planning.
The Federal Reserve is another quasi-public, quasi private entity that loves to blame others for the financial ruin they create. Many forget that the Fed started the Roaring 20's right after WW1 to help war-torn Europe (England actually) get back on its feet, less than 10-years after it was created in 1913 to prevent bank failures and panics. In less than 10-years more, the result of the artificially created stock market bubble was the greatest depression mankind had ever known. Germany never got back on its feet, resorting to the tyranny of Hitler instead. Today, the Fed holds the reins on $5 trillion of the $10 trillion dollars of mortgages. There is nothing that happens to mortgages that cannot be blamed on the Fed. Thank you very much, Geniuses Greenspan and Bernake.
In fact, the Fed is back to its Great Depression job with failing banks, this time caused by the iresponsible words of a governmental Congressman.
Yet, you have to dig even deeper for the root causes of America's problems. How is it that Americans who used to vote for limited government men such as Thomas Jefferson and James Madison, are now voting for a toss-up of America destroying evil such as McCain or Obama?
The answer is staring at you every day. -- It is your television.
A television who tells you that you are destroying the planet with greenhouse gases, so don't dig new oil wells off California coastlines where Hollywood starlets live in million dollar mansions not wanting their view spoiled. A television who tells you that you need to hire blacks and women into your company, even if it will destroy that companies' competitiveness in the world, which you also have to open up to unrestricted and one-sided "free trade". A television who tells you that you should not have a gun to protect yourself from the criminals we should instead "understand" and have so much "compassion" that we let them out to live next door to us, while on predator lists. A television who tells us that we should liven up our lives with serial orgies, and then murder the children who result.
The television distorts our national free will and it is the culprit for America electing poor leaders who only follow the current fad. It is no accident that full-scale television viewing coincided with the start of America's decline, the 1960's.
Now, dig deeper still. Ask yourself who is behind television, with all its free speech rights and no responsibility. Many disagree with me, but I know for a fact that the Jewish media-Scribes have a stranglehold on television, as they also do on Hollywood, Broadway, the press and the pornography industry.
The mortgage crisis would go away tomorrow if the federal government would only write $600,000 checks to each American taxpayer, instead of a measly $600. I wrote of this celebration of "Christian Jubilee" in an earlier article. Sure the usury rates of the money lenders is supporting a significant part of the economy today, but not a healthy part. These blood suckers are like drug pushers, always trying to keep you dependant upon them. Tell them to get honest productive work like you have. Besides, as I point out in Christian Jubilee, most of the mortgage money today comes, not from citizen savers, but comes from money printed out of thin air by the Fed and "loaned" to money market banks, who then "loan" the fake money to you with a hefty middle man's cut. Return on investment for banks have outstripped any honest business, such as electronics, automobiles and even oil companies.
The dollar will certainly be worthless after the $600,00 dispersal. Hence, a great time to replace this worthless fiat money (Fiat money is money that has no value whatsoever, other than what government forces it to have by "fiat" law) with solid and real commodity money (i.e. gold and silver commodities.) and its cousin fiduciary money (fiduciary money is an IOU for the solid commodity of gold or silver coin). America went to fiat money after Richard Nixon abandoned the gold standard in 1971 and American has had financial problems ever since, staring with the inflated oil price shock of 1973, then the stagflation under Jimmy Carter later. Neither was a major surprise to knowledgeable experts.
Destroy the Fed. It never prevented the Great Depression after it was born and it is not doing its job today of preventing bubbles in stocks, housing or commodities. In actuality, it is causing worst events than it was created to stop. Besides, with real money, there is no need for central control of money.
Repeal the 17th Amendment, once again giving states a "veto power" in Congress as our Founding Fathers intended. This vertical checks and balance will flow power back to the states and arrest the development of power migrating into a centralized United Nations.
Repeal the 16th Amendment, once again shackling the federal government with the necessity of coming to the states, hat in hand, for money. It will also prevent us as private citizens from having to come to the feds, hand in our hand, to pay those taxes.
Demand that your state representatives begin arresting media-Scribes guilty of treason against this country. The First Amendment ONLY shackles the power Congress has to prevent free speech. We need 50 states determining their own futures. If you feel your state is being too harsh, too bad. Go find another of the 49 states to live in. Centralized planning is a Soviet Communist hallmark. It does not belong in America.
Of course, vote out all the incumbents. But this time, do not replace them with the alter-ego of the party you are voting out. Both Democrats and Republicans can no longer be trusted with any authority whatsoever in our country. Vote Constitution Party or Libertarian Party. I would like to see our country having to choose "the better of two goods" that these two parties would represent.
These simple but effective proposals would do much to create a Renaissance in America.
Article located at: http://thechristiansolution.com/doc/20080712_32_EconomicStorm.html
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The Christian Solution © was released March 15, 2008