I posted in the past that this is not over. Here is more. I’m saying again, this is not over. Bush’s profligate prescription plan started it. Congress took the bit in it’s mouth and it got worse. After the 2006 election all was lost on fiscal sanity, we are reaping what has been sown.I believe the Bible said something about bitter herbs…

The government has socialized Freddie Mac and Fannie Mae. All loans in arrears but solvent sold off to institutions, foreign investors and private bankers protected from serious losses and the American taxpayer given the pipe. If one is smart, one will buy a half M house quickly and default so that you can get a great rate of interest and a write down on principal.

For the rest, who paid your mortgage on time, tough, you should have been a deadbeat. Or a liberal. Or a Democrat. That’s redundant, sorry.

Meanwhile, a 45% drop in share value pummeled Lehman Brothers over additional worries about the global financial system. If Lehman cannot raise capital, it joins Bear Sterns. Hey, maybe some taxpayers can bail it out! Isn’t that what we’re for, to save the fat kitties?

Monday the markets went up like a teenage boy looking at porn; yesterday down like his mother caught him. Many investors are buying US Treasuries seeking safety, while the list of clowns below are doing their best to destroy any value in bonds by out of control spending and onerous porking up legislation for pet projects in their districts and states.

We have serious inflation in progress from the idiotic ethanol program and oil jolt. Add to that job losses, the housing deflation, illegals taking available jobs from idled workers and the government is cooking a bad tasting soup.

To move the housing market, the Fed must lower interest rates. To head off rampant inflation, the Fed must raise interest rates. For those who think inflation isn’t bad, you haven’t been food or clothing shopping. Look at the COLA numbers the government uses to set next year’s increases. They have manipulated the items used to calculate the inflation rate for SS, Medicare, SSDI, Veterans Benefits and Government Pensions to avoid paying the real rise in cost of living. The government doesn’t have the money to pay the entitlement programs without borrowing more, which means printing more. (Inflationary) Something will give, likely to be the dollar on the world market.

All the while telling the gullible seniors vote us back in office, we’ll keep the cost of Mixed Grill down for you.

Want to blame some people, start with this list of suspects. Most are Dems, but there are some RINO’s in there too.

Top Recipients of Fannie Mae and Freddie Mac
Campaign Contributions, 1989-2008

1. Dodd, Christopher J (S) D-CT $133,900

2. Kerry, John D-MA (S) $111,000

3. Obama, Barack (S) D-IL $105,849

4. Clinton, Hillary (S) D-NY $75,550

5. Kanjorski, Paul E (H) D-PA $65,500

6. Bennett, Robert F (S) R-UT $61,499

7. Johnson, Tim (S) D-SD $61,000

8. Conrad, Kent (S) D-ND $58,991

9. Davis, Tom (H) R-VA $55,499

10. Bond, Christopher S ‘Kit’ (S) R-MO $55,400

11. Bachus, Spencer (H) R-AL $55,300

12. Shelby, Richard C (S) R-AL $55,000

13. Emanuel, Rahm (H) D-IL $51,750

14. Reed, Jack (S) D-RI $50,750

15. Carper, Tom (S) D-DE $44,389

16. Frank, Barney (H) D-MA $40,100

17. Maloney, Carolyn B (H) D-NY $38,750

18. Bean, Melissa (H) D-IL $37,249

19. Blunt, Roy (H) R-MO $36,500

20. Pryce, Deborah (H) R-OH $34,750

21. Miller, Gary (H) R-CA $33,000

22. Pelosi, Nancy (H) D-CA $32,750

23. Reynolds, Tom (H) R-NY $32,700

24. Hoyer, Steny H (H) D-MD $30,500

25. Hooley, Darlene (H) D-OR $28,750

I wonder how they voted on the parachutes for the heads of Freddie and Fannie?

Archived in: Compassionate Conservatism, Congress, Deficit, Economy, Inflation, Socialism