America at a Crossroads: Fight Class Warfare from the Top!
America Will You Let the Class Warfare From the Top Class Continue?We have a choice in America. We can do one of two things:
1. We can massively cut spending, hurt mainstreet, slow economic growth, and let the banks create new ponzi schemes.
2. We can keep spending somewhat level, with a stopping of government growth, with targeted cuts, including military cuts, with controls on medicare costs, tax the top 1 percent, encourage savings in the private sector, and rein in the banksters, at least regarding housing and hedge fund activity.
The problem is, if too much government is cut, then there will have to be a lot of economic growth to make up for the lack of demand created in our society. The only way that this lack of demand can be supported is through another ponzi bubble, most likely in housing, although it could be in stock prices being artificially pushed up. UK consumer confidence is falling because of austerity.
To digress a bit, we need to realize that the Republicans and Democrats wanted the original housing bubble that went wild between late 2003 and 2007. But with the Volcker Rule getting some support, it was thought that the bankers would be reined in. This was a slow growth plan, and would entail government spending to help the classes hurt by banker ponzi activity. But with the 2010 election, the bankers gained the upper hand and the Volcker Rule is doomed as of the writing of this article.
The leader of this attack on the Volcker Rule was Republican Congressman Bachus of Alabama. This attack was all about giving banks the power to sponsor hedge funds. With this power, banks can invest in reckless lending, and create easy money scenarios once again. The shadow banking system can be reborn, and predatory loans can be made that are hard to pay back. Others, like Sensenbrenner, Republican of Wisconsin, and Michelle Bachman, of Minnesota, also oppose Dodd Frank, and ultimately the Volcker Rule, and HR 1081 is just one proof of that.
The Bankers-as-used-car-salesmen can once again replace the ethical bankers. So, America is at a crossroads. Do we want to feed the beast of Wall Street while cutting the crap out of mainstreet benefits again and again? Is this the nation we want? Don't be fooled, banks do not want to make money the old fashioned way, but rather they want benefits and taxes cut so that we can have money to bail them out again and again! If this is the America you want, you can have her.
Don't be fooled, the Republicans want guarantees of mortgage loans because, as I have argued, the big banks want these guarantees. And they want these guarantees whether there exists Fannie and Freddie, or whether they are privatized and go away. Bernanke has already advocated this, and we know that the New World Order of Finance is in charge. Don't be fooled by Michelle Malkin or these other Republican idiots. But whatever party succumbs to this flood of favors from the too big to fail banks, understand that once these banks tasted the riches that came from easy money, they are like crack addicts and want that high once again. And it will be at our expense!
I am no fan of the Democrats for what they did. But the Republicans want another bubble and they want to hurt the weakest in society, even by taking the meals of seniors away. It is disgusting to hear their spin on why they are not hurting these most defenseless Americans when they seek their demise. They accuse others of class warfare when they want no regulation of banks and want class warfare from the top down to continue. Remember, I pointed out in earlier writings that only about 1/3 or less of the subprime loans were made because of too much regulation through the CRA. No, most of the subprime loans were made by unregulated shadow banks supported by the major banks. Those loans were not guaranteed until the bailouts, but now these bankers want all 30 year mortgages guaranteed. I don't see Fox News speaking out against this. And the CRA made zero prime toxic, jumbo and option arm loans!
Michelle Malkin and Sean Hannity are void of conscience. They are part of the effort to let the banks do what they want. Either they are incredibly stupid, or they are part of the scam. I believe the latter, although I could be wrong. If you lose sight of this fact, that these Fox Minions work toward more banker advantage, whether they realize it or not, you fail to understand the new financial order facing us. Government used to be in charge of banksters, at least when they failed, as we saw in the Savings and Loan debacle. That power is gone. Wake up people!
So, Tea Party types, do you really care about the fact that massive government cuts could end up lowering tax revenue in the nation without Republican ponzi schemes? Have you considered that this is what is happening in Ireland? And Ireland is a little country that can attract business with low tax promises. The US does not have that capacity. Unless new industries are found or foreign nations grow, we will not be able to grow our way out of massive cuts.
We must not be afraid to peacefully protest, shun the financial products of the big banks, and save and even walk away from debt if we can. This is a protest against the New Financial Order, and is not financial or legal advice. I am not a lawyer nor am I an investment counselor, but I am mad as hell against this ruling class who is making war against us.