A POLICY to Bankrupt America
“I don’t think it’s a bad thing that the bad loans occurred. It was an effort to keep prices from falling too fast. That’s a policy.”
Hmmmm. A policy to lever up America using overvalued assets???? What if everyone borrowed against the dot.com bubble???
When you lever up against an asset, if the asset crashes, the debt remains suffocating the borrower. In the dot.com bubble, relatively few used leverage....in this case, millions of families, businesses, and government entities levered up.
When you infect a nation with so much debt that it can never pay back using fake values as collateral.........that economy is corrupt and the nation goes bankrupt.
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Imagine practically every pension fund in America saturated with toxic debt of failing loans backed by illusory collateral value.....WHY??? Because it was policy to artificially inflate values......
Trillions and trillions of dollars of loans were made against those artificial values. Then the banks packaged them and sold them to your pension funds and mutual funds in your retirement accounts....Compounding the the mess, they also sold insurance, called credit default swaps, against those loans fixing the bets so only the banks would win....taking even more money from mutual and pension funds.
Now the banks have cut off credit to much of the nation and revenues are evaporating.....debts are defaulting and the house of cards has been collapsing for the past few years.
How does Obama tell his citizens that his nation and its citizens are basically bankrupt...simply a house of cards of massive debt collateralized by illusory assets???
He doesn't........the easiest way out is war. If one doesn't come up..... start one.......otherwise we will have to live with a policy that was designed from the outset to bankrupt America.
It will strengthen the dollar, occupy and bring his people together, and make the crash of the economy no longer a significant issue on the minds of his people.
Thank goodness he won the nobel peace prize....at least most will think it is a peaceful war.
Now let's see how America reacts as this plays out.....clearly one of the most interesting times in our nation's history.