Mac were sound. The housing bubble was popped in 2003, by Federal Reserve Chair Greenspan, when he raised interest rates. A letter from Dem Chuck Schumer, in 2008, caused the Indymac Bank failure, the 2nd largest in US history. The collapse hit its peak worldwide, as securities, comprised of sub prime adjustable rate loans, became worthless. An “October Surprise” resulted as the liberal media blamed Bush for an economy Democrats destroyed, and Obama, the primary cause of the recession was elected.
When President Obama forced socialized health-care on us, under a housing crisis, high unemployment, increasing poverty, 2 wars, and ballooning debt, the result was extended economic paralysis. Debt is created when institutions loan money; wealth when money is used to create things of value. In their book, “This Time is Different”, economists Reinhart and Rogoff explain that a national debt above 90% of economic output (GDP) tends to retard growth, because too much tax revenue pays interest on the debt, leaving less to spur growth. Workers go into debt bondage as the value of their work no longer keeps up with the cost |
of living. Ironically, US debt/GDP reached 90%, in 2009, with passage of Obama’s so-called Affordable Healthcare Act.
European banker Baron M.A. Rothschild wrote in the 1800’s, "Give me control over a nation's currency and I care not who makes its laws." You indirectly control the entire nation. It wasn’t until 2012 that the people of Iceland, with a debt/GDP over 200%, rose-up, jailed their government, and kicked out the Rothchild’s bankers who put them in debt bondage, and also own our Federal Reserve. Republicans have historically done better than Democrats to get our economy on track to a balanced budget. During the past century, the only times the US had real prosperity were the Roaring 20’s and Reagan Eras. In both, Republicans turned Democrat chaos into prosperity with job growth incentives, low taxes and spending cuts. They didn’t need to take over businesses or redistribute wealth. Our usual response to tyranny in the US is grass roots activism. When President Nixon’s men burglarized the Watergate Democratic Headquarters in 1972, there was a media uproar that led to |
public outrage and his resignation. Under Obama, however, there was no media uproar when 3 border agents and 200 Mexican citizens were killed in Fast and Furious gun running incidents that began in 2009. Obama blamed Bush although he left office in 2008.
In Libya, White House officials watched the 911 Benghazi attack live from an armed drone, ignoring cries for help, while Four Americans, including our ambassador, were killed. Obama denied responsibility, and tried to maintain the illusion that killing Bin Laden stabilized the Middle East. Hillary blamed the attack on a Youtube movie, but when Mit Romney caught him giving a different account in the 3rd Presidential Debate, the NBC moderator cut him off and defended Obamas' version. The American people know when they are being lied to. For ‘we the people’ to evolve back to a ‘government of the people, by the people, and for the people’, we need the truth, not lies and propaganda used by the liberal media to divide us into opposing classes. Truth is more powerful than money. Help wake-up America: give your neighbor a Freedom Flyer. . |