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alstry (35.03)

The Final Deja Vu...Here We Go Again....

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August 14, 2010 – Comments (1)

We were told to borrow against our homes.....it was a good thing......home prices never fell and it stimulated the economy.  We got flyers each day, our Fed Head told us to take out adjustable rate mortgages, and the money flowed while much boomed.

UNTIL WALL STREET CUT OFF CREDIT......and all crashed.

The irony, the only one's bailed out by Washington was Wall Street who infected America with this debt......as millions lost their jobs and homes....and much of the rest of the nation saw their home and asset values decline....

Not only did Wall Street get bailed out, but many on Wall Street got record bonuses YET FEW SAID ANYTING.  But to add insult to injury, the debt burden that should have been purged by such a massive collapse was simply transferred to the taxpayers.....

Now we taxpayers are responsible to pay back the collective debt Wall Street created as Government and our politicians are being told to borrow as much as they need to keep things going.....

Pelosi: 'Extending Unemployment Benefits Is Best Way to Stimulate ...

huh?  Weren't homeowners RECENTLY told the best way to stimulate was borrow and spend? Yes...if government borrows and spends it will stimulate, it always does.....

until Wall Street cuts credit to government.....and it started for state and local governments about 9 months ago.......and state and local governments started to suffer....just like subprime was the first to go on housing......

Trenton NJ - up to 400 Layoffs Coming

by failing to purge the debt, the ENTIRE nation has become responsible to pay back a debt burden that is simply impossible to pay back......

if you taxed every American 100% of their income and net worth.....it is not enough......because a big portion of the assets Americans own is based on the debt that can't be paid back....

We all got rich and/or lived a nice lifestyle on this borrowing.....now we will all have to pay it back.....and if my analysis is right.......unless, we restructure the debt, ALL of us don't have enough money to pay it back.....AND AMERICA CONTINUES TO SHUT DOWN TRYING TO.....

Priority Care facility in Quentin Circle PA

Update: The Great Atlantic & Pacific Tea Co - Store Closing will = up to 2,000 Layoffs

El Camino Hospital - 140

Update: Target Closing all 262 Garden Centers Nationwide

DID THE LAST RECESSION EVER END?

US 'Virtually Certain' to Fall into a New Recession: Rosenberg 

or did our politicans take out the largest home equity loan in human history to simply maintain us on life support for the past year and a half?

 

1 Comments – Post Your Own

#1) On August 14, 2010 at 9:40 AM, alstry (35.03) wrote:

The above is why I created the Alstrynomic Theory of Collective Interdependence.....

Before I was ferociously independent...my money was mine as I worked hard to make it......it was a product of my production....and that was that...

until I learned that our system of money simply morphed into one of debt creation to consume....and the only reason anyone had money was because someone else borrowed......

and so long as it was someone else all was fine.....unless the someone else became most everyone else.....then we had a problem....becuase even though I wasn't personally responsible for the debt, if they couldn't pay, most everything I owned would crash in value......

but 9/09 is when I went nuts....we essentially took the debt of everyone in the nation and put it on the nation's balance sheet....as such, we all became liable for the debt...JOINTLY AND SEVERALLY......in other words, we are each liable for the ENTIRE national debt....not just our relative share based on population....

initially I was angry, but then it became clear, the only reason I ever made any money in the first place was because other people borrowed.......and the key word is PEOPLE.........because so long as it was people, it was that person who was liable for the debt.....

but once it became the government borrowing....WE ALL BECAME LIABLE FOR THE DEBT.....and it was at that point I knew the game was over....because I wasn't rich enough to pay back the government's debt...none of us are....

and the only reason things are functioning right now is because the government is borrowing massively and we are guaranteeing it.....just like the only reason millions of families functioned is because they borrowed on their credit cards or took out home equity loans.....

and at some point, government will get cut off of credit....and when it does, we will learn that we are collectively interdependent with each other......we are all essentially broke....

and those of you that try to run and hide your money outside the country before that day happens....the government already knows where you money is.......everything is digital these days and the government has the best computers....and software....

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