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Tag(s): China; Citizens; Community; Corporations; Credit; Dollar; Education; Foreclosures; Greed; Health; (more...) Health; Management; Money; Money; Money Laundering; Reality; Reality; Taxes; Taxes; Time; Trade; Truth; Wars (less...)
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September 18, 2008 at 19:32:56

Where Has Our Money Gone?

by Tony Elliott Page 1 of 1 page(s)

www.opednews.com

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The current problems with the U.S. economy stem from the failures of Wall Street giants who now need the Federal Government to bail them out. These same financial institutions blame the general public for their failures because average working citizens borrowed money to buy homes they could not afford over the past 8 years, thus so many foreclosures are essentially bankrupting them.

These corporate giants have to point the finger at somebody to take the heat off of their own blundering mistakes of jacking up home prices to the point of ridiculousness such as it is in California, New York and other so-called prestigious states where outrageous real estate prices were the norm.

Any one could see this whole meltdown coming as soon as the price of a regular three bedroom house with no pool and a lot size of just one hundred feet square in a questionable neighborhood started going for $400,000 as it did in Southern California just three years ago. Such a house, which was over 10 years old for example shouldn't have been sold for more than $80,000 maximum in the best of times.

So the real estate market is to blame for its own financial woes today because of its greed in trying to scalp regular working people into outrageous loan amounts.

The U.S. Government isn't any better off financially at this time than the institutions it is rescuing.

With a deficit into the trillions and a hemorrhage of hundreds of billions of dollars being sunk into Iraq and Afghanistan each month this country is in reality spending money it simply does not have. This government has finally reached the point where it is bankrupt and having to actually print new currency and create lines of credit for all it spends today with no idea of how it will pay it back.

In reality countries like China, India, Saudi Arabia, just to name a few, now own The United States Of America.

These senseless wars we've been fighting since George W. Bush's Administration came into office are big drains on our capital, but the truth is, we should be able to get away with a much smaller deficit in the billions rather than what we have now which is around five trillion. The same can be said of these financial institutions. They should be suffering from deficits which are a fraction of what they really are.

Individual States are no better off than The Federal Government is, they are dealing with massive growing deficits as well.

What this all boils down to is the greed of the few in office from a local level to The White House and the same greed occurring in Corporate Free America with upper management and corporate executives. These people have been dipping into the till to line their own pockets with wealth that has come from We the People.

Citizens in the U.S. pay enough taxes in property, transportation, personal income, sales, etc. to keep the government's irresponsible spending deficits to a minimum.
We also trade daily with these giant corporations and spend billions each year, enough to keep these businesses from going bankrupt.

If any one cares to examine the money brought into this Government from all sources and what it spends the finagling blank spots, they would almost certainly find that we shouldn't be where we are at today.

What about all the hundreds of billions of Dollars State and Federal Governments brought in from the big Tobacco Settlement? This is a prime example of what thieves we have as elected officials. The Tobacco Money was supposed to be used for health care, tobacco education, research, and a host of other community services, but as we see in each and every State and the Federal Government as well, they just do not seem to have a dime of this settlement anywhere.

The United States of America is not a sovereign nation, independent in its own aspect any more. We have been auctioned off in sections to foreign buyers and mortgaged what was left to the highest bidder - all this because our elected officials and corporate executives lacked any scruples and moral values to care one way or another about their country and its citizens.

The U.S. has been reduced to an Annex of China and other countries who own us lock, stock and barrel, thus we should really be flying a Red Flag with one star signifying who we really belong too and drop this facade we have of flying Old Glory which is only for The Old America that was independent.

I am an author of many magazine articles and have worked for The Cimarron News Press in Cimarron, New Mexico from 2001 to 2003 as a Political Commentary Columnist. I also belong to many political groups and organizations from which my writing is my best tool.

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1 comments

A retired Navyman who has ran for 1st. District of Tennessee as a Green with a primary plank of Impeaching Bush/Chaney and a secondary plank of listening to and serving people instead of corporations. He now has accepted the position of FOAVC Coordinater for TN. He also is a direct decendent both on his Mothers and Fathers failies of members of the Seneca Nation.
Robert N SmithA retired Navyman who has ran for 1st. District of Tennessee as a Green with a primary plank of Impeaching Bush/Chaney and a secondary plank of listening to and serving people instead of corporations. He now has accepted the position of FOAVC Coordinater for TN. He also is a direct decendent both on his Mothers and Fathers failies of members of the Seneca Nation.

Bailouts

I support bailouts for the companies envolved. However I do demand some strings.

1: The government start public hearings and investagations into who devised the ponzi schemes that led to this and I see indictments.

2: The overpriced CEO's of all companies that are rescued must be fired for cause as a condition of receiving any federal monies. Further that what bonus and other compensation that they received for steering the companies into bankruptcy and hiding this fact for a couple of years be recovered.

3: I also demand that the Fed's part in the whole mess be investigated and made public.

by Robert N Smith (10 articles, 0 quicklinks, 8 diaries, 116 comments) on Friday, September 19, 2008 at 5:58:35 PM