Brace Yourself

9 Responses to “Brace Yourself”

1. Greg Farber on October 6th, 2008 5:07 pm

   They stole a hell of a lot more than 700 billion my friend. They been stealing from us since 1913, and just because we are standing on it don’t mean we still own it.

2. George on October 6th, 2008 9:09 pm

   can anyone be happy?

   Certainly. Those on the left who now, with glee, pen obituaries for the free market.

   One can sense their joy as they have, they think, the last laugh.

   Bernie Sanders, the far left senator from Vermont, was almost giddy on Larry Kudlow’s TV show recently to hear free-marketer Kudlow endorse the bailout and tell Kudlow that he is glad to see he has become a socialist.

   The Washington Post’s Harold Meyerson writes, “The old order — the Reagan-age institutions built on the premise that the market can do no wrong and the government no right — is dying.”

   And, of course, there’s the thrill in seeing greedy Wall Street capitalists laid bare for the heartless, exploitive monsters they are and see justice done as they fall by the free market sword by which they lived!

   But, in fact, what we are watching is not a failure of markets, but the latest failure of the welfare state. The sad part is how few who wield political power seem to understand, or want to understand, that this is what’s happened.

   As the details behind the current debacle are unraveled, we see how government created one more entitlement — the right to own a house — and then devised an array of programs to subsidize in various ways “affordable housing.” Like all welfare programs, the subsidies succeeded in influencing behavior, but the wrong behavior.

   The greedy part, or, if one wishes to be forgiving, the confused part, of the Wall Street guys is their willingness to play ball with politicians over these years in turning our free country into a welfare state. Wall Street has regularly been a generous contributor to politicians who love to grow government and use it as a tool for social policy.

   Instead of recognizing basics — the principles of limited government and traditional values — and fighting political pressures to undermine these basics, our financiers were happy to support the welfare state model.

   They should have appreciated, as we must appreciate today, that the problem is not a failure of freedom and markets but of eroding the pillars and principles that make them possible and functional.

   As the institution of government grows, we sadly watch the collapse of the institutions that really sustain growth of home ownership: American marriage and families.

   According to the Census Bureau, the single largest incidence of homeownership, 86.3 percent, is among married-couple families. Yet, traditional families now amount to barely more than a quarter of our households.

   And, sadly and ironically, the problem of family structure is most severe in low- income communities where government housing policy has been most targeted.

   Social and economic policy are not separate universes but part of one fabric of institutions and laws that sustain freedom and prosperity.

   Those who want to use the current crisis as an excuse to expand government and welfare state policies contribute to laying the foundation for our next crisis.

3. George on October 6th, 2008 9:58 pm

   Time could be running out. I know we are all concerned with our little piece of the world. But It’s not just us. This whole thing is going global! What do you think the result will be?

   Germany is now in the hot seat. The collapse of a rescue deal for Hypo Real Estate on Saturday threatens a €400bn (£311bn) bankruptcy that nearly matches the Lehman Brothers debacle for sheer scale.

   Chancellor Angela Merkel has been forced to pull her head out of the sand, guaranteeing all German savings, a day after she rebuked Ireland for doing much the same thing. Reality intrudes.

   During the past week, we have tipped over the edge, into the middle of the abyss. Systemic collapse is in full train. The Netherlands has just rushed through a second, more sweeping nationalisation of Fortis. Ireland and Greece have had to rescue all their banks. Iceland is facing an Argentine denouement.

   The US commercial paper market is closed. It shrank $95bn last week, and has lost $208bn in three weeks. The interbank lending market has seized up. There are almost no bids. It is a ghost market. Healthy companies cannot roll over debt. Some will have to sack staff today to stave off default.

   As the unflappable Warren Buffett puts it, the credit freeze is “sucking blood” out of the economy. “In my adult lifetime, I don’t think I’ve ever seen people as fearful,” he said.

   We are fast approaching the point of no return. The only way out of this calamitous descent is “shock and awe” on a global scale, and even that may not be enough.

   There is a line in the movie Braveheart just before Wallace is about to charge into battle. His companion looks at him and says, My God says I’m going to be OK ,but you all are Fuc-ed

   http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3141428/Germany-takes-hot-seat-as-Europe-falls-into-the-abyss.html

4. George on October 6th, 2008 10:09 pm

   Those who build their houses on paper will not stand (for Helicopter Ben). Coins are worth more than paper BTW but they won’t let you melt them down. Too bad. Doesn’t mean it isn’t happening.

   That aside, I think it is a good time to run my credit cards up to the max with cash advances and then declare bankruptcy. Screw being honest anymore. The government sure isn’t so why should I be? They have taught me well. It has come down to survival.

   I’ll be bankrupt soon anyway by what our illustrious leaders are doing and I could pay off my house and car with a large cash advance and use the rest for gold or silver so I can eat or pay the utilities (oh, and of course for the taxes too which they piss away at every chance).

   Watch it happen very soon. People will figure it out and will do it. Very tempting indeed. What are they going to do? Repossess my plastic cards? Whoopee! I’ll just disconnect the phone (which I won’t be able to pay for soon anyway) and burn the collection letters for heat since heating gas and oil is getting ridiculous. If everyone did that then the genius government could just bail the CC companies out too. What’s another trillion or two? They don’t seem to have a problem doing THAT for the good ole boy network. Sounds fair to me.

   Better than sending in my house and car keys and my credit can be reestablished in a few years. What’s not to love? I’d love to screw them back to the stone age anyway since they take every opportunity to do it to us. Besides, desperate times require desperate measures. Beats living in a tent too. Ron Paul for President.

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6. Greg Farber on October 6th, 2008 10:51 pm

   LMAO. No, we are better than these criminals, Next we will say well murder is ok to, since they do that to. I’ll take the tent when it comes. Lets keep our conscience, when I go before my Lord I want clean hands, I made mistakes, but I fought for years trying to kick over these money changers tables and deceptions, their suppression of thousands of truths, some in which I share here, even if it is only a peek to plant a seed to tempt others to seek out what I have found.

   “One basic truth can be used as a foundation for a mountain of lies, and if we dig down deep enough in the mountain of lies and bring out the truth, to set it on top of the mountain of lies; the entire mountain of lies will crumble under the weight of that one truth, and there is nothing more devastating to a structure of lies than the revelation of the truth upon which the structure of lies was built, because the shock waves of the revelation of the truth reverberate, and continue to reverberate throughout the earth for generations to follow, awakening even those people who had no desire to be awakened to the truth.” Delamer Duverus.

   I believe first in God, the same God in which my ancestors believed. I believe in Jesus Christ and that he is my Saviour. Second, I believe the Constitution of the Republic of the United States of America, without interpretation, as it was written and meant to work. I have given my sacred oath ” To Protect and defend the Constitution of the United States of America against all enemies foreign and domestic.” I intend to fulfill that oath. Third. I believe in the family unit and, in particular my family unit. I have sworn that I will give my life, if it is required, in defense of God, the Constitution, or my family. Fourth I believe that any man without principles that he is ready and willing to die for at any given moment is already dead and is of no use or consequence what so ever.

   And I looked, and Behold a Pale horse, and his name that sat upon him was Death, and Hell followed with him, And power was given unto them over the fourth part of the earth to kill with sword and with hunger and with the beasts of the earth.
   Revelation 6: v. 8.

   Wolveshater.

7. jes on October 7th, 2008 6:59 am

   Greg, that was your best post yet….and I can agree with every word!

8. jes on October 7th, 2008 11:08 am

   Letter to my congressman, in thanks:
   “Dear Cliff, I just wanted to thank you for your vote against the “bailout”! There weren’t nearly enough against it to turn the tide, but thank God, you were one who stood the test, and held the high ground. I have recognized the high qualities of principle you reflect, for some time now, and believe me, they are appreciated…May God bless you and your family and friends for what you stand for and vote for!
   I doubt that anywhere near enough people will write to thank you, but rest assured, there are many who see the same way as we do, but have no time to let you know one way or another…they are the working backbone of this country…and God fearing, and they are the reason God continues to bless this great land…..so I give you thanks for them! Sincerely,”

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