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Old 01-12-2009, 08:24 AM
 
504 posts, read 902,444 times
Reputation: 155

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It is becoming clear that the bailout measures of late 2008 may have consequences at least as grave for an open society as the response to 9/11 in 2001. Many members of Congress felt coerced into voting against their inclinations, and the normal procedures for orderly consideration of a bill were dispensed with.

The excuse for bypassing normal legislative procedures was the existence of an emergency. But one of the most reprehensible features of the legislation, that it allowed Treasury Secretary Henry Paulson to permit bailed-out institutions to use public money for exorbitant salaries and bonuses, was inserted by Paulson after the immediate crisis had passed.
Martial Law, the Financial Bailout, and War

I also want to add this link to be read second --->Print Story - canada.com network

Last edited by truthseeker2012; 01-12-2009 at 08:33 AM..
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Old 01-12-2009, 09:39 AM
 
Location: Raleigh, NC
9,059 posts, read 12,971,196 times
Reputation: 1401
Geithner will want the government to seize gold from US citizens to replenish their depleted reserves, likely dumped to dampen any price spikes. To combat runaway inflation, Obama will likely institute price controls on consumer goods. Long queues will form and shortages will abound. Black markets will emerge as they are always more powerful and more elusive than the government. As the saying goes "If you outlaw necessary goods, only outlaws will have the necessary goods".

Obama will also attempt to restrict Americans from investing abroad (aka leaving the dollar), and will possibly make it illegal to leave the country, or at least make it very difficult to leave (e.g. leave all possessions behind on your way out the door). The economy, cascading on itself, will cause the government to get more and more involved, until we transform ourselves into what resembled the former Soviet Union.

This would happen with a Dem or Rep in the WH. The government always tries to interfere and gain more power, especially in times of crisis. To leave the economy to heal on its own is politically unpopular and not in the tradition of the overwhelming support failed Keynesian policies have received. Krugman winning the Novel prize is evidence of how the popularity of a policy outweighs its effectiveness. Since Keynesians cannot be disproved as they can always assert their failed policies just weren't "bold" enough and require even more borrowed money to fund, they will get carte blanche to destroy the dollar.
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Old 01-12-2009, 09:50 AM
 
16,294 posts, read 28,531,593 times
Reputation: 8384
Reason, logic, intelligence, facts, are not in the tool chest of the Bush & Co. disaster squad.

The only hold they (Bush & Co.) have over the American people is "fear" unbridled, the sky is falling irrational fear. Look back at everything this failed leader has attempted over the last 8 years. In every case what as the motivation that was used to justify their goals? FEAR!

And shame on the American people for being cowards and listening to this fool. Land of the free, home of the brave, my arse
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