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alstry (35.03)

A POLICY to Bankrupt America

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October 16, 2009 – Comments (8)

“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.”
Barney Frank

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.

Foreclosures On Pace To Hit 3.5 Million

FHA Rules Render Condos Utterly Worthless

Commercial Real Estate Musical Chairs, With Chairs Added Each Round

Time for Baltimore to "Pull a Vallejo" and Declare Bankruptcy

 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. 

8 Comments – Post Your Own

#1) On October 16, 2009 at 10:11 AM, lquadland10 (< 20) wrote:

3 weeks ago the food stamp program had about 34.5 million people on the rolls. Now according to the debt clock.36,961,978 million

The good news is about a little over 1 mill Illegal Immigrents have left the country. 

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#2) On October 16, 2009 at 10:21 AM, weg915 (< 20) wrote:

Post added just because I want to complain somewhere:

Just paying my power/water bill for the last two months.  Guess what year to year- my water usage: down 50% - my power usage: down 25%.

 

My bill up 30%. Arrgh.

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#3) On October 16, 2009 at 11:35 AM, alstry (35.03) wrote:

Rising Unemployment....Crashing Wages....Rising Costs.....Plunging Tax Receipts...Increasing Taxes......Bankrupted Pensions.....Imploding Commericia Real Estate

Wages Tumble towards 18 Year Low

I know...Alstry is too negative.

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#4) On October 16, 2009 at 1:04 PM, JerseyShoreGirl (< 20) wrote:

OBAMA TO CEDE US SOVREIGNTY IN COPENHAGEN (THIS DEC)

This story may deserve a thread of its own.  This has got a lot of forums all abuzz today.  Let's all do some research about this ....

http://wattsupwiththat.com/2009/10/16/obama-poised-to-cede-us-sovereignty-in-copenhagen-claims-british-lord-monckton/

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#5) On October 16, 2009 at 5:01 PM, JerseyShoreGirl (< 20) wrote:

Here's the related to my last post: "Obama poised to cede sovreignty (in Copenhagen).

http://www.youtube.com/watch?v=PMe5dOgbu40

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#6) On October 16, 2009 at 5:15 PM, alstry (35.03) wrote:

GUESS WHO HOLDS A BUNCH OF TOXIC LOANS????? 

NEW ORLEANS -- An opulent Texas golf course development put together by pro golfer Hal Sutton is the target of foreclosure, putting into question $24 million invested by Louisiana's retirement system for municipal police officers.

HOW DOES OBAMA TELL RETIREES THAT THEY MAY NOT GET A PENSION?????

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#7) On October 16, 2009 at 5:19 PM, alstry (35.03) wrote:

As revenues and incomes evaporate...fewer and fewer can service debt.

Texas Instruments expected to post 17% sales drop

With bankers cutting off credit.....and pension funds running out of money to make toxic loans.....it appears the easiest way to grow the economy is to  go  to war...

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#8) On October 16, 2009 at 5:33 PM, JerseyShoreGirl (< 20) wrote:

Alstry ... did you watch to YOuTube vid I posted? ANy thoughts?

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