Monday, October 12, 2009

Little early in the process........

Empires rot from within. Everybody is in on the take. Once people realize they can get free money or power over their neighbors by voting for it then it only becomes a self-fulfilling act.  Soon in order to survive we all have to get in on the action. We need to have government rob our fellow citizens just to survive our old age, educate our kids, protect us from bad guys, fix the roads, etc..

But the biggest problem is Social Security money is taken from people who work. Same with military and other government checks. Our workers  don't produce  much any more to earn enough to support all the dependents on government largess. It seems to me that robbing our children is a sure fire loser.

Right now we are depending on borrowing from foreigners to pay all these trillions of handouts, promises and wild schemes. How long will that last? Maybe 2013? By your next birthday?

Who do we riot against? Will we be shot down in the streets begging for bread? Will the next generation decide to take over another small oil producing country?

Stay tuned!

Gerald Celente explains ‘Obamageddon’ forecast amid call for The Great American Renaissance
Well, Gerald, you can gladly add Barello to the aforementioned list. As a fellow paesano I am going to join you – and break the absurd rules of politic correctness – by asserting that Wall Street and Washington D.C. are being run by psychopathic serial criminals. For those that feel this declaration is overzealous, please read the recent commentary of Jim Kouri, vice president and public information officer at the National Association of Chiefs of Police, wherein he likens the personality traits of politicians to serial killers.

The mortgage market collapsed due to massive, unprecedented frauds. More people would realize this if mainstream media outlets properly exposed such crimes; granted, investigative journalism has been pushed aside, and in its place, we find an array of pseudo-celebrity, nonentity imbeciles like John and Kate Gosselin, desperate for their 15 minutes of shame. Either way, most mortgage frauds were facilitated by both lenders and borrowers – many of whom knowingly agreed to terms they could not afford. Through the process of securitization, these bad loans have been turned into hot potatoes for tossing, often with the help of Fannie Mae, Freddie Mac, and Ginnie Mae; this has allowed lenders to deceitfully transfer risky loans to unsuspecting counterparties. Ratings agencies aided and abetted the racket by claiming these junk assets are safe; accordingly, corporations, municipalities, and a plethora of worldwide investment vehicles have purchased toxic garbage, and many risk collapsing under the weight of such. As this has happened, unregulated, over-the-counter derivatives have allowed the same criminals to secretly hedge bets against portfolios – knowing full well that many of them would indeed go sour – and when credit events occur, they collect truly absurd bounties. Accordingly, Gerald is no fan of derivatives. “They are ponzi schemes,” he said, before quipping that the term should really be “Madoffs” from now on. “Ponzi was a piker compared to Madoff, [which] is more appropriate, because they make off with all your money.”

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