Tags for This Article:

Government (3045)  Republican (2042)  Bailout (997)  Senate (804)  Future (738)  Congress (557)  Housing (407)  Taxpayers (279)  Reality (176)  Democrat (175)  Housing (164)  New Legislation (151)  News And Media (130) 

Populum Tag Cloud
       Control Panel
Fine tune your search to access content
Articles
Diaries Products
Events All
All time
Last 6 mos
Last month
Last week
Last 24 hrs
From:
Month  Day   Year

To:
Month  Day   Year
Alphabet
Popularity
Count ON
Count OFF
This Level
Sub-levels

 

 

 

Tag(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ;  (less...)
Add to My Group
July 24, 2008 at 10:13:25

Headlined on 7/24/08:
The Real News is in the Fine Print:

by Mike Folkerth     Page 1 of 1 page(s)

www.opednews.com

 
Tell A Friend

View Ratings | Rate It  

Good Morning Middle America, your King of Simple News is on the air.

Yesterday I made my future prediction for residential housing. In those predictions I stated that government would pull out all of the stops to save the non-sustainable housing industry.

I talked about Fannie Mae and Freddie Mac in my book. Today, as I suggested, they are broke. Our government however believes that these mortgage giants are too big to fail, yet failure was obvious to me from the outset. What will be the eventual cost for bailing out Fannie and Freddie? Some believe as much as $300 Billion, while others don’t think that is enough.

Yesterday President Bush dropped his objections to the bailout plan that was poised to aid the failing mortgage giants by allowing Freddie and Fannie access to $25 Billion of government loans. The vote passed the House and is expected to move quickly through the Senate.

The Congressional Budget Office says that the two big lending agencies may not need any of the money and worse case losses would be less than $100 Billion. I doubt it.

Please remember that Fannie Mae and Freddie Mac are publicly traded stocks that receive special government treatment…such treatment as not allowing them to go broke with the help of your tax dollar. I bet the Enron folks wish that they had gotten the same treatment.

The question that begs to be asked is where would our government ever get the money to bail out the beleaguered lenders? The answer is of course that they would borrow it from foreign nations and promise those nations that the U.S. taxpayers were good for it.

What didn’t make the main stream news was a little ditty at the end of the bailout legislation. News that is so staggering that it should have been headlined all across America. Remember my question as to where our government would get the money? This nifty piece of legislation also contains a provision to raise the National Debt ceiling by $800 BILLION, to a new record of $10.6 TRILLION!!

This is the hardest working Congress in history toiling away here. This is the Democrats who will save America by borrowing our way to success with the help of kindly nations such as Communist China, who is more than glad to give us another handout as they drive another nail in Middle America’s coffin.

The Republicans on the other side of the aisle are nothing short of horrible. When will we ever learn that neither of the main stream parties have the slightest interest in Middle America’s welfare? We simply allow the lost to take turns leading.

Wake up Middle America, this isn’t a drill, it’s the real thing.

 

www.kingofsimple.com

Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, restaurateur, U.S. Navy veteran, heavy equipment operator, taxi cab driver, fishing guide, horse packer and few jobs too embarrassing to mention, writes from experience and plain common sense. Mike's humorous systems of "Mikeronomics" and "Mikemathics" drastically simplify the economic and mathematic formulas commonly used by very smart, but terribly sheltered individuals.

Contact Author
Contact Editor
View Other Articles by Author

 

Bookmark this page: (what's this?)

NETSCAPE      DIGG THIS      Add This Page to Mr Wong!           NEWSVINE      DEl.ICIO.US      Looksmart Furl      My Web      Tag!RawSugar      Blink List     (More...)
Comments: Expand   Shrink   Hide  
8 comments

I am a disabled man living in northern California who cares more about the future of our country than about party affiliation. I am distressed over the downward spiral in our social and political culture.
JOHN LORENZI am a disabled man living in northern California who cares more about the future of our country than about party affiliation. I am distressed over the downward spiral in our social and political culture.

More of the same is coming. Or else concentration camps

Good article but what is Middle America going to do about the debt and the debt ceiling and the Iraq/Afghanistan wars all of which are generating oceans of debt paper and cheapening the dollar as we speak so that we will soon be at the same level as Weimar Germany in the 1930s and we'll need a wheelbarrow full of money to buy a loaf of bread. What is the answer of Middle America? Obama 47 percent, Mccain 41 percent. Middle America is perilously close to electing John McSame who will continue the policies of George W. Bush and do nothing but continue the War and the borrowing until America becomes poorer than Rhwanda. People still want John McCain after all the mess this country is in. Can there be any hope, no matter which party gets elected this Fall? Both Lamestream parties have the legal system all sewed up so nobody can challenge their rule. Let people try it and the illegal surveillance will kick in and the concentration camps will open up and a 'state of emergency' will be declared if the poor and middle classes try to do anything about it. Where are we headed and who will do anything about it?

by JOHN LORENZ (17 articles, 77 quicklinks, 45 diaries, 173 comments) on Thursday, July 24, 2008 at 5:05:03 PM
 


Mr. Danforth is a supporter of the Constitution of the United States of America, as defined by Thomas Jefferson.
John DanforthMr. Danforth is a supporter of the Constitution of the United States of America, as defined by Thomas Jefferson.

Communists Will Own The Country

As we continue to pour more paper money and debt into the system to prop up the failures from too much paper money and debt, foreign nations hold more and more of our worthless currency. As the dollar bubble collapses with the value of the dollar, and the stock bubble collapses with the value of stocks, and the housing bubble collapses with the value of real estate, the only thing around that will be worth buying with those falling dollars will be America's businesses and real estate. By the time the whole thing comes crashing down in one stinking mess, communist countries will hold title to most everything of value. Even the slimeball bankers who get the fake money shoveled at them first and figure to foreclose on a lot of the consumer debt might not be able to stop it, because by then, they might be owned by communists as well!

by John Danforth (1 articles, 0 quicklinks, 4 diaries, 93 comments) on Thursday, July 24, 2008 at 6:04:05 PM
 


Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics.

The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, restaurateur, U.S. Navy veteran, heavy equipment operator, taxi cab driver, fishing guide, horse packer and few jobs too embarrassing to mention, writes from experience and plain common sense.

Mike’s humorous systems of “Mikeronomics” ...

to see more of bio, click on member name

Mike FolkerthMike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics.

The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, restaurateur, U.S. Navy veteran, heavy equipment operator, taxi cab driver, fishing guide, horse packer and few jobs too embarrassing to mention, writes from experience and plain common sense.

Mike’s humorous systems of “Mikeronomics” ...

to see more of bio, click on member name

John

I don't believe that anyone will do anything but sit back and whine on their way to the polls to elect yet another loser. The cheering crowds that we see gather for McCain and Obama are real as rain. These are semi-sane Americans that somehow believe that one of these guys will save their bacon. Wrong.

We are past the point of no return and may as well fly straight and level until the fuel runs out.

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Thursday, July 24, 2008 at 6:05:59 PM
 


I am a college graduate, a loyal patriot of the Constitution and Bill of Rights, a person whose convictions and pessimism drive my thought invoking others to think, and enjoy some politcal debate. I like truth even if it doesn't set you "free" in this US of A any longer. I am a liberal.
I do a bit of painting mostly in Acrylic. I do a bit of poetry writng mostly inspired by tragic thought. I do a ton of reading, mostly online. I speak straightforwardly and don't plan on changing. It's wor...

to see more of bio, click on member name

shirley reeseI am a college graduate, a loyal patriot of the Constitution and Bill of Rights, a person whose convictions and pessimism drive my thought invoking others to think, and enjoy some politcal debate. I like truth even if it doesn't set you "free" in this US of A any longer. I am a liberal.
I do a bit of painting mostly in Acrylic. I do a bit of poetry writng mostly inspired by tragic thought. I do a ton of reading, mostly online. I speak straightforwardly and don't plan on changing. It's wor...

to see more of bio, click on member name

our country's ppl in dire straights...

....and that is putting it mildly, will gladly accept a leader who has power to bail it all out. That leader will be welcomed with open arms from the Americans that have lost all material goods, jobs, homes, cars and have been packed into buildings like cattle packed into barns.

The disguise of it all is the "Christians' interpretation of their book of Revelation(Armageddon); however, the true reason, and cause, are those evil worshippers of the historical pattern of the Rothschilds (freemasons) and those that follow and serve them and their "satanic worshipping". They come in the name of this compassionate rescue, but in reality, they have succeeded and conquered the ppl of the LAST Democracy, which has been their goal, along with money & power over the entire earth...globalization. It will require a ONE WORLD Bank(monetary system), religion, government(partcularly this famed great rescuer) and a One World Army (MIC). Ahh, but you say we have this with the UN, Nato, etc. No, this one will have no democratic hold, and the players are secret for now.

 Remember, government officials have the "nuke fallout shelters" left from the Cold War and I've heard they are lavish, luxurious and quite secure.  Remember, the very rich cannot be hurt, so to speak. Also note, they have been padding their pockets with  macro amounts of money from their bloated profits. They are prepared. Economical collapse was said to be Osama's plan. But we have all learned that every thing that Bush has relayed about "terrorism" for the most part, has been a lie. Osama and Bush, thus far, have set out for the SAME end result. Economic collapse. This will devestate the American ppl, the  MOST materialistic group of ppl on earth. That will make ppl weak, gullible and DESPERATE.

They have already bludgeoned the constitution, the rule of law, which is our Democracy. In some ways, I think they used Bush. I don't think he really wanted all of the crap to go down-- done(torture, HS expanded, TSA expansion) but the nit wit he is, he would let them sway him anyway.

In my dead father's words, he would call Bush the stupidest goddamn sonofabitch  there could be. He died in 1998 so fortunately he isn't here to say it. I said it for him. He was a repub till Reagan's second term. He called Reagan something worse but I can't repeat it. :]

It's the time of Enlightenment once again. Many of us won't make it through this period, but those that do, have a whole new world to grasp. I don't believe some mega supergod is coming to swoop us up (or some of you), and I don't believe that the coming events are due to some god. Man has made these coming events and men that have nothing but evil in their minds. They are self serving, egomaniacs, like villans in movies but REAL. One will come with phony compassion that has all the power to SAVE (lie) us from our demise.

"Here he comes to save the day...mighty mouse is on the way. We might be eating mighty mouse sandwiches. Damn.

They planned this economical collapse. It was no accident nor a case of over spending.

by shirley reese (0 articles, 0 quicklinks, 0 diaries, 309 comments) on Thursday, July 24, 2008 at 11:08:14 PM
 



Wolfie

PPL , PPL WHO LUV PPL, ARE THE LUKIST PPL N THE WRLD.

Ppl, or shppl, whats the diff? I just finished my cucumber so maybe I can

use all my fingers. Whoa, Nellie Belle. Hold your cotton pickin thoughts to

yourself. Yes they got the big guns. Yes they got the financial wherewithal,

 yes they caused all the messes. But we got love, one lucky number , to tell

you true, I got three lil words for only you. Five I call you up, and by six we

have a date, seven lil children, or maybe we'll have eight.

See how easy it is to be in a good mood. Let a smile be your umbrella.

God knows what is occurring. We are his consciousness. Would God create

a beautiful universe if he was going to blow it up? See how serene you

have become. Serenity, and humility, and kindness are the agents of

change. Being frightened, and anxious will not allow us to use our

intellectual abilities. Be one with the earth, and be still. Ask the Holy Spirit

what you should do. If he says don't call me, I'll call you, then we wait.

 

by Wolfie (8 articles, 0 quicklinks, 29 diaries, 1176 comments) on Friday, July 25, 2008 at 2:50:28 AM
 


Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics.

The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, restaurateur, U.S. Navy veteran, heavy equipment operator, taxi cab driver, fishing guide, horse packer and few jobs too embarrassing to mention, writes from experience and plain common sense.

Mike’s humorous systems of “Mikeronomics” ...

to see more of bio, click on member name

Mike FolkerthMike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics.

The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, restaurateur, U.S. Navy veteran, heavy equipment operator, taxi cab driver, fishing guide, horse packer and few jobs too embarrassing to mention, writes from experience and plain common sense.

Mike’s humorous systems of “Mikeronomics” ...

to see more of bio, click on member name

Shirley

I certainly understand your sadness and anger. I also agree that we about to enter a period of extremely difficult times and that some people won't make it through.

However, I don't agree that our demise was all planned by mortal humans with a defined play book. The root problem is the exponential growth basis of our underlying economic pinnings.

As we continue to increase global population and more importantly to us, the U.S. population, our environment remains the same size. We are overgrazing the ranch. Add unchecked capitalism and a population who embraces such an economy and we have arrived at today's problems.

The citizenry can't be given a pass for being ignorant, the masses chose to be ignorant. As the old cowboy saying goes, "Never get mad at a man because he's smarter than you, it ain't his fault."

by Mike Folkerth (120 articles, 0 quicklinks, 2 diaries, 566 comments) on Friday, July 25, 2008 at 9:07:11 AM
 



Wolfie

MY FRIEND MIKE, NOT QUITE

There is a cabal. They passed the fed in 1913 through that Wilson, whom

Freud described as "not all there".

The Warburgs and Harrimans, et al , were consciously trying to cause the

destruction of our financial freedom. I wish it were not, but that is what

seems to be the conclusion of thousands of well informed people. As

Casey Stengel used to say "you can look it up!".

by Wolfie (8 articles, 0 quicklinks, 29 diaries, 1176 comments) on Friday, July 25, 2008 at 5:47:46 PM
 

 

8 comments

 

Tell A Friend

 


Copyright © OpEdNews, 2002-2008

Blog Ads

 

 

 

 

Most Popular Articles
in the Last 2 Days
(by Recommend Emails)

What I Learned At The Sarah Palin Rally Before They Threw Me Out! by Linda Milazzo

30 Lies Refuted about Ayers and Obama Posted by John Wilson

This Is Our Obama! Posted by Donna Roepenack

Those Who Call Obama A Muslim Posted by Rob Kall

Representatives Were Threatened with "Martial Law" if Bailout Bill Did Not Pass by Patrick Henningsen

This is Your Nation on White Privilege Posted by Siv O'Neall

The End of American Hegemony by Paul Craig Roberts

Meet The $700 Billion Bailout Czar by Rob Kall

Martial Law? by Jayne Lyn Stahl

I Just Prevented Thousands of Californians from Having to Vote on Provisional Ballots! by Emily Levy

Go To Top 50 Most Popular