Thursday, October 02, 2008

Bailout of the Century

After the Senate signed off on the $700+Billion-dollar-bailout, there was a saying that came to me that goes something like this:

"Fool me once, shame on you. Fool me twice, shame on me."

As the news trickles down to the American public of who really gets the biggest benefits... as the pounds of pork buried in the bailout becomes common knowledge... as the reality sets in for what we have done to our children, their children and their children's children...

~~ shaking my head ~~

They tell you it's about "Main Street" -- to make sure you and I have credit to buy those cars, those homes, meet those small business needs -- and yet, one of the first articles to come out this morning hailing from Bloomberg notes:
Oct. 2 (Bloomberg) -- The cost of borrowing in dollars in London for three months rose for a fourth day, signaling that banks haven't started to lend after the U.S. Senate approved a $700 billion plan to rescue beleaguered financial institutions.

...Credit markets have frozen as financial institutions hoard cash to meet future funding needs amid deepening concern that more banks will collapse. Libor, set by 16 banks in a daily survey by the British Bankers' Association, is used to set rates on $360 trillion of financial products worldwide, from home loans to derivatives.

Where not many months ago the Feds were known for giving millions to millionaires, the Feds have raised the bar, now giving billions to billionaires.

Sucks, doesn't it?

And look at all the "sheeple" who believe the Gov is acting in their best interest.

It hearkens to "abused housewife syndrome" where the woman keeps clinging to the hope that her man will change and stop beating her up.

In the back of her mind, she knows he'll never change and the beatings will continue, getting more and more violent... and yet, she'll see his false tears of remorse through swollen black eyes and cling to his false promises as she croaks through bloodied lips -- "I forgive you." -- sticking around for the next time he decides to beat on her. Never knowing when he will strike again. Walking on eggshells until the next time...

Those in denial will swallow the promise of economic security, the bitter pill that needs to be swallowed, only to watch the economy slowly unravel as the country's debt climbs to heights where it can never be repaid.

And voila, the tax slaves of the future have been condemned to their fate.

I dunno, maybe it's just me, but I just don't get it. Why-oh-why-oh-why do they want all of us to be swimming in debt? Why-oh-why do they want all of us to live on credit and loans instead of living off the wealth we build through saving and careful budgeting?

They've managed to jam it through the Senate. It now meets the house.

Who really has our best interests at heart?

"Wherefore by their fruits ye shall know them."
Matt. 7:20

In other words...

"You shall know them by their deeds."

No comments: