Sept. 20, 2008
GUEST COMMENTARY: NeoConservative President: Which Brand of Socialism is Right for You?
By Kevin Patrick
The so-called "Sub-prime Mortgage Crisis" has again reared its ugly head and you are in its sights.
Yesterday, Thursday, Sept. 18, 2008, the Fed announced an unprecedented $180 billion booster to world markets, plus $85 billion to nationalize Freddie, Fannie, and soon possibly others.
If you are wondering why your wallet seems a bit lighter, this might be why. As economic turmoil looms on the horizon, what does our supposedly Conservative President have to say on the matter? Is it something about free markets? Not quite..."...Government intervention is not only warranted, it is essential," --- George W. Bush
Bush, the man who ran on a 'humble foreign policy' in 2000, a self-professed "Compassionate Conservative" said that the bailout would require "significant amount of taxpayer dollars." Treasury Secretary Paulson announced that it would amount to "hundreds of billions [of dollars]."
After nationalizing two major home mortgage institutions, plus the bailout of AIG, which insures about 50 percent of insurance policies; what sort of economic shifts can we see next?
"This is a pivotal moment for America's economy," Bush said; and is he ever right!
The Russian government closed its markets, to attempt to deal with the economic flux. Markets in Europe, and Central Banks across the world are also trying to figure out ways to intervene.
The problem may lie in their solutions. As the Central Banks of the World manipulate and intervene in the economy, they create the boom-and-bust cycle, causing the bubbles like we saw in the housing markets. Printing of money whenever one needs it is not sound fiscal policy.
Washington also had to reign in Wal Street to prevent massive sell-offs of stocks.
So where does this leave us? With the Fed printing off hundreds of billions of dollars that the US economy just does not have (effectively robbing the populous); Citizens are in a tough spot.
This commentator's advice: plant a garden and buy some silver...
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GUEST COMMENTARY: NeoConservative President: Which Brand of Socialism is Right for You?
By Kevin Patrick
The so-called "Sub-prime Mortgage Crisis" has again reared its ugly head and you are in its sights.
Yesterday, Thursday, Sept. 18, 2008, the Fed announced an unprecedented $180 billion booster to world markets, plus $85 billion to nationalize Freddie, Fannie, and soon possibly others.
If you are wondering why your wallet seems a bit lighter, this might be why. As economic turmoil looms on the horizon, what does our supposedly Conservative President have to say on the matter? Is it something about free markets? Not quite..."...Government intervention is not only warranted, it is essential," --- George W. Bush
Bush, the man who ran on a 'humble foreign policy' in 2000, a self-professed "Compassionate Conservative" said that the bailout would require "significant amount of taxpayer dollars." Treasury Secretary Paulson announced that it would amount to "hundreds of billions [of dollars]."
After nationalizing two major home mortgage institutions, plus the bailout of AIG, which insures about 50 percent of insurance policies; what sort of economic shifts can we see next?
"This is a pivotal moment for America's economy," Bush said; and is he ever right!
The Russian government closed its markets, to attempt to deal with the economic flux. Markets in Europe, and Central Banks across the world are also trying to figure out ways to intervene.
The problem may lie in their solutions. As the Central Banks of the World manipulate and intervene in the economy, they create the boom-and-bust cycle, causing the bubbles like we saw in the housing markets. Printing of money whenever one needs it is not sound fiscal policy.
Washington also had to reign in Wal Street to prevent massive sell-offs of stocks.
So where does this leave us? With the Fed printing off hundreds of billions of dollars that the US economy just does not have (effectively robbing the populous); Citizens are in a tough spot.
This commentator's advice: plant a garden and buy some silver...
Share This Story:
Make HNN Your Homepage (IE Users Only)
