S
slyham166
Guest
Is "Racial hatred" included in their thinking?
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Elmer R
Guest
How about this? They hope you can't do math...
You keep hearing the number $700 billion, but since the collapse of Bear Sterns the administration has added over $2 trillion dollars to the US taxpayers bill. There are 138 million taxpayers in the US. This equals $15,000.00 for every taxpayer in America. If you are a two income family you just got a $30,000.00 tax bill.
These dollar amounts could be considered as minimums. The legislation for the Freddie Mac and Fannie Mae purchase for example provides unlimited funds and they own over $6 trillion in potentially worthless paper. The only cap is the federally mandated debt ceiling. At the time the legislation was passed there was an $800 billion gap between the budget and the debt limit so that's why they tell you the program is an $800 billion program. However congress routinely raises this limit and in fact just increased it by another $700 billion to cover the bank bailout. This is where the $700 billion figure the news is spouting comes from because this legislation is also limited only by the debt ceiling.
This money has all gone into the pockets of the people who made a housing slump into an international crisis through highly speculative profiteering. For all this money you just spent though, the root cause of the problem - mortgage defaults and falling home prices in the US has not been solved and in fact continues to accelerate.
The grand total of at-risk mortgages in the US is 10% of the $12.1 trillion mortgage market, or $1.2 trillion. This problem could be solved by buying every single at-risk mortgage outright for less than has been given to the Wall Street bankers already, but that would mean bailing out average citizens instead of crooked and incompetent bankers.
The FDIC that insures your savings account is broke. They currently insure about $6.7 trillion in bank deposits but they only have about $40 billion in cash. If the FDIC had to cover all deposits today the payout would be six tenths of a penny on the dollar. The next big bank failure will wipe out this fund completely, and remember - the housing crisis is still accelerating.
The bank considered next most likely to fail is Citibank, the largest financial institution in the world with about $2.7 trillion in assets. Just like AIG, they will be considered too large to fail so you can expect to pick up the tab for this as well. Following Citibank most experts consider American Express the next casualty.
If you add the $2 trillion already spent with the FDIC and Citibank tabs and you are a two income household your tax bill for this will be $165,000.00.
The effect of taking an already mind boggling and economy crushing $9 trillion debt (US debt prior to crash) and tripling it will be hyper-inflation. When you dilute an existing supply of money what you have is worth less. When your money is worth less, that's inflation. In the last eight years the highest inflation rate the US has seen is 5.6%. These actions could result in an inflation rate of 100% or even 1000% according to some economists. The administration is in the process of using your tax dollars to finance the total destruction of your lifestyle. And they are giving this money to the very people that cause the problem by their excessive profiteering.
You are paying interest on all of this money to the Federal Reserve just to add insult to injury. The interest payments on the national debt were $406 billion in 2006. NASA's budget for that same year was $15 billion. Your share of interest payments to the Federal Reserve for printing your own money which they are stealing from you in order to destroy your lifestyle if you are a two income family will be over $17,000.00 every single year.
Now that you've seen how the government can instantly throw trillions of your dollars at their banker friends to save them, consider that by the end of the year over a billion people - one in six on this planet - will be dying of cronic starvation. Cronic starvation is one of the most painful ways to die, like intense hunger pains that continually get worse as your body slowly consumes itself in a slow agonizing death.
The United Nations World Food Program says this could be stopped for $30 billion per year.
As an American taxpayer would you rather end global starvation or bail out a few more banks?
Also, just so you know - you are witnessing the total collapse of the global financial system because all these banks sold each other investments that have crashed in value with the housing market. Unfortunately, they were greedy about it and this is a global market so the scope is basically total. Every major financial institution in the world is bankrupt. Some don't even know it but most suspect it because it's all so tangled up the truth is nobody has any idea what those investments are actually worth.
This is just the very beginning because the housing crisis continues to worsen. Next to fail will be Citibank th
You keep hearing the number $700 billion, but since the collapse of Bear Sterns the administration has added over $2 trillion dollars to the US taxpayers bill. There are 138 million taxpayers in the US. This equals $15,000.00 for every taxpayer in America. If you are a two income family you just got a $30,000.00 tax bill.
These dollar amounts could be considered as minimums. The legislation for the Freddie Mac and Fannie Mae purchase for example provides unlimited funds and they own over $6 trillion in potentially worthless paper. The only cap is the federally mandated debt ceiling. At the time the legislation was passed there was an $800 billion gap between the budget and the debt limit so that's why they tell you the program is an $800 billion program. However congress routinely raises this limit and in fact just increased it by another $700 billion to cover the bank bailout. This is where the $700 billion figure the news is spouting comes from because this legislation is also limited only by the debt ceiling.
This money has all gone into the pockets of the people who made a housing slump into an international crisis through highly speculative profiteering. For all this money you just spent though, the root cause of the problem - mortgage defaults and falling home prices in the US has not been solved and in fact continues to accelerate.
The grand total of at-risk mortgages in the US is 10% of the $12.1 trillion mortgage market, or $1.2 trillion. This problem could be solved by buying every single at-risk mortgage outright for less than has been given to the Wall Street bankers already, but that would mean bailing out average citizens instead of crooked and incompetent bankers.
The FDIC that insures your savings account is broke. They currently insure about $6.7 trillion in bank deposits but they only have about $40 billion in cash. If the FDIC had to cover all deposits today the payout would be six tenths of a penny on the dollar. The next big bank failure will wipe out this fund completely, and remember - the housing crisis is still accelerating.
The bank considered next most likely to fail is Citibank, the largest financial institution in the world with about $2.7 trillion in assets. Just like AIG, they will be considered too large to fail so you can expect to pick up the tab for this as well. Following Citibank most experts consider American Express the next casualty.
If you add the $2 trillion already spent with the FDIC and Citibank tabs and you are a two income household your tax bill for this will be $165,000.00.
The effect of taking an already mind boggling and economy crushing $9 trillion debt (US debt prior to crash) and tripling it will be hyper-inflation. When you dilute an existing supply of money what you have is worth less. When your money is worth less, that's inflation. In the last eight years the highest inflation rate the US has seen is 5.6%. These actions could result in an inflation rate of 100% or even 1000% according to some economists. The administration is in the process of using your tax dollars to finance the total destruction of your lifestyle. And they are giving this money to the very people that cause the problem by their excessive profiteering.
You are paying interest on all of this money to the Federal Reserve just to add insult to injury. The interest payments on the national debt were $406 billion in 2006. NASA's budget for that same year was $15 billion. Your share of interest payments to the Federal Reserve for printing your own money which they are stealing from you in order to destroy your lifestyle if you are a two income family will be over $17,000.00 every single year.
Now that you've seen how the government can instantly throw trillions of your dollars at their banker friends to save them, consider that by the end of the year over a billion people - one in six on this planet - will be dying of cronic starvation. Cronic starvation is one of the most painful ways to die, like intense hunger pains that continually get worse as your body slowly consumes itself in a slow agonizing death.
The United Nations World Food Program says this could be stopped for $30 billion per year.
As an American taxpayer would you rather end global starvation or bail out a few more banks?
Also, just so you know - you are witnessing the total collapse of the global financial system because all these banks sold each other investments that have crashed in value with the housing market. Unfortunately, they were greedy about it and this is a global market so the scope is basically total. Every major financial institution in the world is bankrupt. Some don't even know it but most suspect it because it's all so tangled up the truth is nobody has any idea what those investments are actually worth.
This is just the very beginning because the housing crisis continues to worsen. Next to fail will be Citibank th