Thread: AMERICANS VERY AFRAID OF FINANCIAL MELTDOWN UNDERWAY

AMERICANS VERY AFRAID OF FINANCIAL MELTDOWN UNDERWAY

By: Devvy
March 6, 2008
© 2008 - NewsWithViews.com

Tuesday's second "Super Tuesday" was another display of putrid politics. Allegedly Marxist Hillary Clinton took Texas. Why wouldn't she? We all recall her famous words a few months ago, "No woman is an illegal." Texas is infested with illegal aliens and we know they're voting. A few days before this horse and pony show, Obama and Clinton exchanged spit over NAFTA. Both of them tried to out do each other for the sake of big labor in Ohio, a job devastated state. Neither one of them pointed out this treaty is unconstitutional and why. As the Ohio primary loomed with oodles of delegates, Obama (Elmer Gantry clone), and Clinton (Top Ten Most Corrupt Politician), suddenly decided it was time to do something about NAFTA.

NAFTA was signed into law on December 8, 1993, by Bill Clinton, husband of Hillary. While NAFTA ravaged our industrial, agriculture and manufacturing jobs like another hurricane Katrina, Bill and Hill did nothing. As a result of a corrupt Congress getting NAFTA to Bill's desk, next came the Mexican Peso bail out and it WAS tied directly to NAFTA. The U.S. Constitution does NOT authorize Congress to bail out any foreign government; an impotent and corrupt Congress did nothing.

Hillary was unlawfully elected to the U.S. Senate in November, 2000. Obama was unlawfully elected to the U.S. Senate in 2004. Where has Clinton's concern for America's workers been for the eight years she's served unlawfully in the U.S. Senate? Where has Obama's concern for American workers been for the past four years while he's unlawfully served in the U.S. Senate? Why didn't this duo immediately support Rep. Virgil Goode's bill and sponsor one in the senate to get U.S. out of NAFTA? The why is simple: like all professional politicians, they will say anything to get votes. Both of them are preying on the desperate.

Americans are beginning to realize what countless economists and columnists have been warning about for years: financial devastation for millions is rolling across this country with the worst yet to come:

New recession worry: Bank failures - March 3, 2008 "Construction loan problems threaten spike in smaller bank failures and add to worry over credit crunch. As if the economy wasn't already fighting enough strong headwinds, the risk of capital shortfalls and outright failure of the nation's banks is rising."

February 22, 2008: Bank of America circulating confidential proposal to Congress seeking $739 billion bailout.

February 21, 2008: Wall Street Bank Run

February 29, 2008. Risks seen for growing Fannie, Freddie. "Loosening the regulatory reins around Fannie Mae and Freddie Mac gives them the freedom to play a bigger role in trying to stabilize a worsening housing market. The danger, some analysts say, is that the government-sponsored mortgage titans will become saddled with too much financial risk. Fannie and Freddie this week reported fourth-quarter losses totaling $6.1 billion and predicted multibillion-dollar losses throughout 2008"

February 26, 2008: Housing Drop Crumbles Home Depot

February 18, 2008. US banks borrow $50bn via new Fed facility. Rescue the banks first.

Americans are hurting from the sub prime meltdown and they want Congress to stop the hemorrhaging. However, this is not the job of Congress. Private citizens make a contract with a bank to purchase a home and they are bound by that contract to make the payments or lose the property. Collusion and fraud between banks and appraisers is being investigated and it should be done vigorously. However, it is outside constitutional restraints for Congress to bail out the home owner by forcing banks to put a freeze on their loans. The banks are in even more trouble of their own making:

February 22, 2008. Banks Lose to Deadbeat Homeowners as Loans Sold in Bonds Vanish. "Judges in at least five states have stopped foreclosure proceedings because the banks that pool mortgages into securities and the companies that collect monthly payments haven't been able to prove they own the mortgages."

February 8, 2008. The Bush Financial Bust of 2008: “It's All Downhill From Here, Folksâ€

AMERICANS VERY AFRAID OF FINANCIAL MELTDOWN UNDERWAY

The only way to get to slavery, is by first, undermining the standard of living or America's middle and working classes.

Oh, c'mon, what's so bad with abject poverty and desperation? Hey, it works great for the 1% of ultra wealthy Americans that are doing just fine right now...