Many of us have been anxiously watching as domestic and global Investment Banking Systems melt down faster than Ice Sheets in the Arctic. Over past\u00a0year and recent days, I have listened to experts, analysts and opinion makers, predict and scale this\u00a0monumental disaster.\u00a0 Sad to say I know little more than I did before the banks\u00a0choked\u00a0on the bad debt they created by conspiring with borrowers who thought they cold get something for nothing.\u00a0\u00a0 There is never and never will be something for nothing.\u00a0<\/p>\n
The borrowers\u00a0are not victims of predatory lending, that’s bullshit, they are co-conspirators in theft from the rest of us.\u00a0 The victims are those who trusted in a flawed\u00a0and hopelessly corrupt system of lending, in which they\u00a0are innocent\u00a0of greedy choices\u00a0the\u00a0bankers\u00a0and borrowers have made.\u00a0\u00a0<\/p>\n
Our elected officals\u00a0have allowed this nonsense to go on in the name of wealth building.\u00a0 They have built a system of\u00a0unregulated, unsecured lending to every one’s demise.\u00a0\u00a0\u00a0 Democrat and Republican have been operating\u00a0on\u00a0a perverse ethic of\u00a0 “look the other way and line your pockets while you can”.\u00a0\u00a0 Now they have\u00a0bankrupt this country.\u00a0 Our elected officials have\u00a0been operating a\u00a0system that allows\u00a0the theft of tax payers money\u00a0through earmarks,\u00a0\u00a0by extortion of cash flown into Iraq by the\u00a0pallet load and by\u00a0“war contractors” who routinely loot our national treasure\u00a0through false billing, bribery and bogus contracts.\u00a0\u00a0It is no\u00a0surprise\u00a0our elected\u00a0officals\u00a0chose\u00a0not to\u00a0regulate\u00a0banks that were\u00a0in the business of\u00a0creating false wealth from which they all would benefit.\u00a0 It is no surprise when the game got too risky and their worst nightmare was realized, they would leave the tax payers holding the bag.\u00a0\u00a0<\/p>\n
Enter Secretary Paulson and Chairman Bernanke, who arrive like superheroes, defenders of\u00a0our national economic interests, although it seems my interests are not included here.\u00a0\u00a0Listening to the chaos\u00a0over the past days, it seems everyone is waiting for the investment markets to hit bottom with absolutely no idea where the bottom is…\u00a0 Meanwhile Paulson, Bernanke and the usual cast of criminals from Republican to Democrat have fabricated the brilliant idea of a “bailout”.\u00a0\u00a0The basis of which seems to\u00a0grounded in the idea\u00a0that we did nothing as the markets crashed just before the Great Depression, so this time around we should try a\u00a0bailout.\u00a0 After all we have the precedence of Chrysler ’79 and the Savings Loan Bailout in the late 80s.\u00a0 Is this not\u00a0comparing Apples\u00a0to Llamas or the sinking of the Titanic to the bombing of Hiroshima.<\/p>\n
It is curious how this has been in the making for years and just as the elections roll around\u00a0all hell breaks loose. It all has\u00a0the\u00a0familiarity of George Bush pulling ill planned wars out of his ass after 11, September and rushing head long into disaster.\u00a0\u00a0\u00a0\u00a0 How do we really fuck things up, just jump into the middle of the shit and throw\u00a0Trillions of dollars at it.\u00a0\u00a0 If that doesn’t work\u00a0leave it to the\u00a0Silly Ass\u00a0Democrats and Freak Show Republicans to clean up after Bush and his cronies are long gone.<\/p>\n
It seems this\u00a0is a disaster of unparalleled scale and proportion.\u00a0The only thing that will prevent the “wealthy” from leaving the burden of their bad investments on the tax payers shoulders, are the tax payers themselves.\u00a0 Sad to say, I doubt that’s going to\u00a0happen.\u00a0Too many of these\u00a0tax payers are the same ones who are wowed by Sarah Palin.<\/p>\n
Watch carefully as the Bankers and Politicians do the\u00a0familiar slight of hand, “dazzle them with economics and then baffle them with bullshit”.\u00a0 Watch them\u00a0steal the middle class blind by leaving an economic time bomb on the door step.\u00a0\u00a0\u00a0These courageous Republicians and Democrats, Champions of the Free Market,\u00a0the ones who got us in the shit to begin with, are doing this “bailout thing” to save the middle class?\u00a0\u00a0\u00a0The salvation of the middle class is going to\u00a0 show up as a time-bomb called, “triple digit inflation”.\u00a0\u00a0\u00a0When the bomb bursts the profiteers will have long since secured their fortunes\u00a0and be gone like a thief in the night.\u00a0<\/p>\n
One day we will look back and say, “damn good thing we did the bailout in ’08, it saved my retirement account”, which\u00a0you won’t be able to distinguish\u00a0from the pennies in the\u00a0coin jar on the dresser.<\/p>\n