In the conduct of his war crimes, capital crimes and naked aggression, Bush ran up the largest debt and deficit in US history! The Iraq war to date is estimated to have cost you over $3 trillion! It has been 'financed' in the short term with phony-baloney "'GOP" money.
Now that the bill has come due, Bush blackmails the American people. It's an offer you dare not refuse; do it Bush's way or face a 'crisis'. Bush expects you to foot the bill for his bail out and that of his crooked Wall St insiders. Bush must be surprised that the crash has happened before he could make good his get-away to Paraguay!
We got to this point because the US government has been hijacked by Wall Street. For years, the US government has borrowed money from the Federal Reserve Bank of New York --a private bank, not a government agency. Federal Reserve Notes are not backed up by anything. To finance its profligacy and incompetence, the government --GOP regimes primarily --simply cover all current expenses with Federal Reserve Notes.
The FED to literally creates money which is loaned to the government at interest.
The private Federal Reserve owners don't have a trillion dollars to lend the Government, nor do they need it. All they do is create it, via a bookkeeping entry, and write a check to the U.S. Government as the loan in exchange for the U.S. Bonds. The U.S. Government banks at the Federal Reserve Bank so cashing this check is very easy.
No hard currency is exchanged. Government agents are never seen walking out of the FED offices --under armed guard --carrying bullion, coins, or, indeed, anything of real value. The Fed makes an 'entry' in the books! The government makes an entry in its books!
Here's how the 'bail out' scheme will work: US Treasury Secretary, Hank Paulson will set up a Federal agency to buy up $trillions$ in bad debt --debt for which you are stuck because just enough people supported Bush to make the election 'steal-able'. The bankers who conspired with Bush get off scot free and laugh all the way back to the bank.
John McCain, meanwhile, expects you to entrust these same Wall Street crooks with the good money that you have already paid into the Social Security trust fund. Had McCain's plan already been effected, every retiree in the US would now be left penniless and destitute! That scenario could still happen, if the GOP should get away with stealing the election for John McCain.
George W. Bush has warned that the 'entire US economy' is in crisis. Specifically, the US faces a long-term recession if the government does not act! The problem is Bush's prescription: another bailout, another handout, another reward for the Wall Street insiders whose greed and incompetence created the crisis. It's the GOP way: just keep on doing whatever it is that makes you sick!
"I believe companies that make bad decisions should be allowed to go out of business," Bush said. "Under normal circumstances, I would have followed this course. But these are not normal circumstances."
--Bush, moving his lips
When the GOP uses the terms 'crisis' and 'money' in the same sentence --hold onto to your wallet. This time you are required to pay the blackmailers some $700 billion, while bending over.
Like Reagan earlier, the Bush administration has looted the US Treasury and again, like Reagan, wiping out the American middle class. Instead of bailing Bush out, we should be frog marching Bush --in chains --out of the White House. For too long the apparatus of government has been hijacked by thieves, perverts, and mass murderers. For too long the US government has been exploited as the enforcement arm by which a crooked, corporate establishment rules America. The proper word for this is 'fascism'. For some time now, the government of the US must be properly described a fascist dictatorship!
The GOP expects you to reward them in that amount for their crookery, their greed, their wars of naked aggression, torture and atrocity. They expect to be 'paid' for having robbed you. They expect to be returned to office for having been crooks, liars and failures.
The profligate GOP ran the nation on charge cards, maxed them out, consolidated and maxed out again and again! The GOP expects you to pick up the TAB while Bush beats a hasty retreat to South America without leaving a forwarding address. Your response should be: screw you!! We should follow up with criminal charges against the GOP leadership.
Bush claims the market was not functioning properly. At this point, I am confused! Hasn't the GOP repeatedly told us about the utter infallibity of 'free markets'. Or was that just another lie used to get your money? What happened to Adam Smith's 'invisible hand'? Or did they mean 'invsible hand job"?
More financial distress could lead more banks to fail, the stock market to drop further, businesses to close, job losses and home values to drop, Bush said.
"And, ultimately, our country could experience a long and painful recession," Bush said. "Fellow citizens, we must not let this happen."
--Bush warns of serious risks to U.S. economy
Bush cites a ''widespread loss of confidence" and warns that major financial sectors will simply shut down. I think Ebeneezer has something to day about that.
Are there no prisons? Are there no workhouses?
--Ebeneezer Scrooge, A Christmas Carol, Charles Dickens
Personally, I really hate it when someone demands I make a life or death decision while holding a gun to my head. I hate it when that happens.
I would guess that this has to be one of the biggest peacetime transfers of power from Congress to the Administration in history. (Anyone know?). Certainly one of the most concise.
The Treasury Secretary can buy broadly defined assets, on any terms he wants, he can hire anyone he wants to do it and can appoint private sector companies as financial deputies of the US government. And he can write whatever regulation he thinks are needed.
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
--Adam Davidson, NPR, Re: the so-called bailout bill
I have a better plan. It consists of rounding up every GOP idiot who supported the war against Iraq because it was thought that the theft of Iraqi oil would lower the price they paid to fill up their SUVs! Give these idiots the bill! Let them get together and cough up that money the best way they can. Bush was their hero. Let them bail his sorry ass out! Busk a queue! Sell greeting cards door to door!
• Bush's Conspiracy to Create an American Police State: Part I, Police States Begin With False Flag Attacks
• Bush's Conspiracy to Create an American Police State: Part II, A Climate of Fear is Maintained
• Bush's Conspiracy to Create an American Police State: Part III, In Fascist Dictatorships Telling the truth becomes a crime
• Bush's Conspiracy to Create an American Police State: Part IV, the state forces an 'existential' choice
• Bush's Conspiracy to Create an American Police State: Part V, Public Opinion Becomes Irrelevant
• Bush's Conspiracy to Create an American Police State: Part VI, The government places itself above the law
• Bush's Conspiracy to Create an American Police State: Part VII, The Government Denies 'Due Process of Law'
• Bush's Conspiracy to Create an American Police State: Part VIII, Atrocities are justified with lies, myths or propaganda
September 26, 2008 By: Len Hart Bush sticks YOU with the bill, via The Existentialist Cowboy