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America’s Next Lehman Collapse


July 12, 2011 | From theTrumpet.com

What is the real reason America is helping bail out Greece?

Robert Morley American taxpayers must be the most generous people on Earth.

Not only did they bail out Wall Street, Fannie Mae and Freddie Mac, the world’s largest insurance company (aig), the world’s largest automobile manufacturer (General Motors), multiple credit card companies, and a host of other companies including Caterpillar, Harley Davidson and MacDonald’s, but now, taxpayers are at it again.

For these generous-hearted stalwarts, no bailout seems too much. Swamped with debt, rising unemployment, and a higher cost of living, taxpayers are now helping bail out big-spending Greeks, and Portuguese too. And that is not all.

This recent stealth bailout is coming via the International Monetary Fund. The imf is 17 percent financed by the United States. When it cuts a check, the Federal Reserve gets the bill—and taxpayers ultimately pick up the tab.

Only in America will you find people so willing to give money to others so they can live larger than themselves. Wages in Greece, for example, have gone up over 100 percent over the past decade. Wages growth in America over that time? Zero. Adjusted for inflation, wages are probably negative. Retirement age in Greece is 58. In America retirement age is 65, and the government recently increased it to 67.


So off to work Americans go (those who have jobs), working longer, for less money, so they can send more of it to people they don’t know and will never meet.

It is one thing to bail out your family member or neighbor, but why are Americans bailing out a wealthy country located thousands of miles away across the Atlantic?


America has its own money problems. Congress is locked in an epic—and losing—struggle to get its spending problems under control. Doesn’t it have something more important to spend its money on than bailing out a nation notorious for evading taxes? What about all the people in America who are losing their homes?

[b]You want to know why America is spending billions bailing out Greece when it can’t find enough money for its own people? It is not because we fear an olive shortage. It’s all about the big banks.

As it turns out, American banks didn’t just invest in risky subprime mortgage debt—but they sold “insuranceâ€