Who caused the Housing/Credit Crisis?
http://www.youtube.com/watch?v=H5tZc8oH--o
It's important to know however that subprime mortgages, as bad as they are,are not the real issue...Here's the real problem - world wide derivatives over 1,300,000,000,000 ($1.3 quadrillion)
http://www.americanfreepress.net/html/coming_derivatives_crisis_150.html
http://www.businessandmedia.org/articles/2008/20080926110602.aspx
To put this in perspective:
US GDP ~ $15 trillion World GDP ~
$50 trillion
Total World Stock & Bond Market ~ $100 trillion
Total World Real Estate Value ~ $75 trillion
Interesting that Henry Paulson was a big part of creating this problem, he was able to cashin $500 million in Goldman Sachs stocks TAX FREE (no capital gains) to take the Sec. of Treasury position before TSHTF, now he wants to use our tax dollars to bail out his buds.
http://townhall.com/columnists/BruceBartlett/2006/07/11/paulsons_special_tax_deal
HR 3997 (the bail out bill) did not pass. Watched it live along with the DOW today sideby side, DOW was down 700 points within 2 minutes, then moved back up (now back at -717 points).It was a voice vote initially and the speaker said the YEAs have it when the NAYs clearlywon. A Congressman from Georgia stood up and requested an electronic vote.Original electronic vote was 205 (YEA) to 228 (NAY) - majority Rep NAY, majority Dem YEA.After the vote, two have changed to YEA - now its at 207 (YEA), 226 (NAY), looks like they areleaving it open for arm twisting - needs 217 to pass. Its encouraging that some of our representatives still listen to us. Also just heard that Pelosi is trying to arrange a revote.
A picture is worth a 1,000 words (when the Democratic leadership thought they had a deal)
http://digg.com/business_finance/A_700_000_000_000_Picture
Reminds me of this Austin Powers clip...(except replace $100 billion with $700 billion)
http://www.youtube.com/watch?v=7edeOEuXdMU
Who seems to be on our side in Washington (Reps and Dems):
Michael Buress (R-Texas)
http://www.youtube.com/watch?v=l7B4laX1E70
Marcy Kaptur (D-Ohio)
http://www.youtube.com/watch?v=oAADyc6t4nY
http://www.youtube.com/watch?v=S27yitK32ds
http://www.youtube.com/watch?v=ZIE0ZyXEsKQ
Thaddeus McCotter (R-Michigan)
http://www.youtube.com/watch?v=gNlXgzzdJQA
Richard Shelby (R-Alabama)
http://www.youtube.com/watch?v=pXNrbMW4RRo
Ron Paul (R-Texas)
http://www.youtube.com/watch?v=SQhHxKz1hEQ
http://www.youtube.com/watch?v=dv6rQ0U01Yc
http://www.youtube.com/watch?v=Wy6SlUpbnIU
Peter DeFazio (D-Oregon)
http://www.youtube.com/watch?v=E1F4SuS1fuk
http://www.youtube.com/watch?v=nUukDJCyqfM
Jim McDermott (D-Washington)
http://www.youtube.com/watch?v=AWf3NLCAEs8
http://www.youtube.com/watch?v=wn4GXitOGwg
Dennis Kucinich (D-Ohio)
http://www.youtube.com/watch?v=lJ2gnXu7ezA
Good luck with your finances!!! Hope you don't lose too much money this week (or the coming weeks), but $700 billion of our money is not going to fix this problem (its only 1/2 of 1% of the total hyper-leveraged derivatives market). If we allow this to go through, the price tagwill continue to grow as it did on the S&L crisis which topped out around $160 billion - manytimes over the original amount sold to the public. They will probably figure out a way to keepour economy inflated for a few more years, but eventually it will pop.Oh, check out this article/newsclip from today, guess there's only free speech if you're nottalking about Obama.
http://www.americanthinker.com/blog/2008/09/missouris_obama_truth_squads_2.html
Might want to watch this before its gone...
http://video.google.com/videoplay?docid=3340274697167011147&hl=en
Lindsey Williams has provided very accurate info in the past, this was from at October or earlier 2007 (when gas was around $3/gallon). In this video, he guarantees gas will be $4 to $5 per gallon in the very near future (which happened earlier this year). He's was on Stan Monteif's show a couple of weeks ago (when oil was close to $150/barrel - now around $125) so saying that the plan now is to drive oil down to $50 per barrel to break the Middle East oil producing countries so they would dump the US dollar that's been financing our debt, force a deep devaluation of the USD and use it as an opportunity to bring in a new world currency (not the Amero as we've heard about for years). He said they would be able to drive down prices by turning up two yet unannounced oil fields - one in Russia and one in Indonesia -- both of these fields supposedly have more oil than the entire Middle East countries combined (as does Alaska) ---guess we can listen for this announcement in mainstream media in the near future. Also said nothing would be done in the US (Alaska or offshore). Seems to be a pretty reliable source, as always could be a plant as well.
Very interesting social experiment.
Read http://www.vaniercollege.qc.ca/Auxiliary/Psychology/Frank/Thirdwave.html (page 1)
http://www.vaniercollege.qc.ca/Auxiliary/Psychology/Frank/RJmore.html (page 2)
Then watch http://video.google.com/videoplay?docid=4689717947890475769
congress addresses martial law plan:
http://www.rumormillnews.com/cgi-bin/archive.cgi?read=128076
