Monday, April 7, 2008
We Need a Witness Protection Program
We are witnessing America go down the tubes. Our economy is circling the drain so the Federal Reserve, which is the central banking system of our country, agreed to bail out Bear Stearns, which is not a bank but a securities firm. Now Bear Stearns wasn't the only company that benefited from the recent $200 billion handed out by the Fed. A number of CEOs of these crashing corporations like Merril Lynch, Countrywide, and Citi Group received millions in compensation--from the Fed! But the most important part to remember is that thanks to the Fed, we taxpayers are now responsible for a debt we did not incur. For those of you familiar with the economic interventions that took place in South American countries during the 1970's, you'll notice history repeating itself. The government bank takes on the debt of private banks and corporations and the people end up with an increased and unjust tax burden. Add this to the deferred cost of the never ending war on terrorism and our children's future looks pretty crappy. Will the economic stimulus package that gives us all a tax rebate this year help? Since they're borrowing the money for that, too, what do you think?