Yesterday evening, the US Senate passed this abomination of a bill, called a "rescue package" by a 74-25 margin. Among the provisions includes a law that allows the Treasury Dept to buy foreign debt from foreign banks and stick it on the back of the US taxpayer. Both Cantwell's and Murray's office were well aware of this provision, as I, and many others, had faxed and called. Senior staffers at Murray's office were well aware of this, per a phone conversation I had with them on the day of the vote.
The fear mongering and lack of public review in these matters is simply breathtaking. We were told on September 19th that if this didn't pass by the time Asia opened on 9/22, that "our economy could end" "payroll would not be met" "and credit would freeze solid."
As of October 2, 2008, all still seems to be functioning normally. Please submit a comment if you hear of any widespread economic collapses.
The purpose of the bill is to give in to economic extortion. We are paying a ransom to keep the Chinese and Dubai money flowing to the US Treasury. Without this money, we would be paying more for credit, which reduces asset prices - the basis of the US economy since 1982. Let's see how long it is before the next ransom payment is due.
That's the trouble with bubbles - once you start blowing, you can't stop. Eventually, the bubble breaks.
Please take the time to call/fax Senator Cantwell and express your appreciation for her courageous vote in a losing cause. She deserves the backing of grateful Washingtonians for her vote.
As for Senator Murray...
Senator Cantwell: 202-224-3441
Senator Murray: 202-224-2621
[Edit: I found this YOUTUBE of someone who "gets it." I assure you this is not me. The clip is not overly profane, but is definitely rated PG]
7 comments:
Patty-cakes is a good Democratic Party flunky. She "always votes at her Party's call, and never bothers to think for herself at all." That is assuming that she actually has a brain to think with.
Maria Cantwell, at least, has a brain. I oppose most of her politics, but I have to acknowledge that she is intelligent and thinks for herself. Too bad that she's a raving liberal.
That's what Washington State elected to the Senate: a brainless twit and a raving liberal. The voters deserve the consequences.
You and your fellow survivalists may just get your wish. But I doubt there will be much left to celebrate, E. There probably will be fewer commercial pilots in demand in your "new economy", that's for sure. Stone age will make as all equal.Ain't that the truth.
@Anon 12:34
Wow! You think this represents the Stone Age 2.0? You are not just drinking the Kool-Aid - you are feebasing the concentrate.
I'll ask you what I ask everyone who lobs these fear grenades:
"What is the specific problem that we are avoiding, where is it coming from, and how does this fix it?"
Given that the Administration won't answer these questions, I am wondering how you have the basis for your pussillanimous musings?
Enjoy living on your knees. If you give up $700B, your master will not beat you...today.
Peace be with you, sailor.
Major industrials lost access to credit markets, cities can not get financing, farmers can not buy seeds and equipment. But, hey, no price is too high for freedom.
You probably did not see bank runs and collapse that follows live. I had a misfortune to be present in a couple of countries that have. In some respects it's too late already. Hope you still enjoy what follows.
@Anon 2:30,
How do you know that farmers will be without seeds? Do you know this or have you been told this by someone that has no idea what is happening?
Tell me, how do you know what will happen if the ransom money isn't paid?
More importantly, how do you know that it won't happen even if we do pay the ransom?
The advocates of this abortion have not given one specific problem. They have spoken in very spooky generalities, but have yet to tell anyone what is at risk.
If industry and cities can't get access to credit, it isn't because of $700B being held by American taxpayers. Credit is available, but at higher prices.
BTW, all the fearmongering specifics the Administration has thrown at us failed to materialize. We were told that if we didn't pay the ransom by last Sunday, that Asia would implode.
It's still there.
You can lob fear/ignorance grenades all you wish. Show me the problem and I might change my mind. I'm not going to willingly cough up $700B just because someone told me a scary story about a boogyman.
It's all mute now, sailor.
Hey, no hard feelings.
Cheers.
Just about everything is made in china.
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