Wednesday, November 26, 2008

Burden of $8 Trillion Bailout

As the general Bailout widens massively in scope with yesterday's announcement of the nationalization of CitiBank, the amount of taxpayer money taken to help the ailing economy already mounts onto gigantic proportions. Taken from the People and given to the Banks, (or Federal Reserve System kingmakers), the now $8 trillion dollars forked over reminds one of the policies enacted by Herbert Hoover soon after Black Tuesday in 1929.

As the federal reserve cranks out the printing presses to ink more worthless greenbacks, the value of the dollar is sharply falling and stagflation in the future is becoming all the more a promise. And the force of another bailout appears more likely when the Obama Administration takes over in January. Tacitly approving Bush's measures, little seems bound to change under Obama, whose so called "Economic Stimulus Package" he is pushing as a new WPA for America will somehow bolster the crumbling economic situation the world now faces.

But nonetheless, the announcement that Robert Gates would stay on as Secretary of Defense alludes to continued military spending and imperial presence abroad. The cost of running the American military around the world in one year exceeds $1 trillion. And with the expansion of war in Afghanistan, it is difficult to see any less being spent.

Solutions are unclear as Senate Majority Leader Harry Reid (D) of Nevada said in September that "we have no idea what to do". The incompetence of the media for relying only on partisan-backed pundits has not aided much either in Americans' understanding of what the economic mess truly means. But, for those who believe in free-market economics, the work of the brilliant Milton Friedman, and the triumph of liberty to secure the Earth's blessing, the answer remains clear. And the mess all begins with that fateful night in 1913, when the privately-owned Federal Reserve usurped one of the sacred rights of the U.S. federal government. The incompetence is astounding.

Some such as conservative radio talk-show host Glenn Beck have now openly advocated secession for states as an answer to fight back against the federal government's centralization of power.

Also, other analysts have predicted a breakup of the Union, and the further fractioning of our nation into distinct parts, with the Pacific, Rocky Region, Texas, the Plains and the Midwest, the South, and the East Coast each with their own sovereignty but under one economic identity and a further political identity called the North American Union. Such executive agreements as the Security & Prosperity Partnership (signed in Waco, TX; 2005) which now allows Canadian or Mexican troops to quell unrest in the United States, point to such a possibility.

Whatever the far-fetched ideas of change that may come, it is now clear that the country is in danger of bankruptcy and with a Bailout plan that now numbers the size of the $9 trillion National Debt, America has now fallen in twice as much debt in only the span of a short two months. It is now certain that it will take almost a miracle for Obama's proposed deficit spending to work, but while our hacking group of corporate yes-men and women sitting in Congress continue to deface the Constitution, real people back at home are starved from their once abundant lives.

It will take more than simple economic stimulus plans to breach the gap that now threatens to take from us what our fathers fought for. It will take a massive display of peace, love, and liberty and a defiance of all corruption to bring back the America we know and love.

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