How did we get here? Part 1-B, The current state of our Union by Phil Branch

My plan was to continue on the topic of “How did we get here” by sharing my findings on “Political Correctness”. However I found a more data which ties well with my previous article so I felt I should share and perhaps peak additional interest.

From outward appearances the government bail outs of mortgage lenders and banks surely seems like a great thing, with our government coming to the rescue and such. In one sense it is and some might even think that it shows concern by our government. Regardless of why, we must ask ourselves again just where does the U.S. get the money that it does not have!? Of course you know, either from taxes or borrow (print more money.) What is the benefit of government intervention anyway other than the fact that it is in even more control of our lives. A lending company goes belly up and the mortgages are turned over to Fannie Mae or Freddie Mac, which ever would absorb the failed company and all of it's debts. So, here we are in another vicious government created circle. We will either have to pay more taxes or let the additional money that the government will have "borrowed" depreciate our income and savings via inflation. By the way, on the subject of bank failure, I have heard there is a non-published list (government only list) of between 800-900 banks that are endangered.

I don’t know about you, but I wonder why does the government have to be involved. Why can’t a mortgage company be left to fail? If another lending company wants to buy in, let them and do not loan them any money to do so. You know all to well if a private business owner makes bad choices and ultimately loses more than is made, there will be consequences to suffer. Chances are that the owner learns from the mistakes and should a new investor be found or a new company formed it would likley be managed more wisely in the pursuit of success. Waiting for the government to come to your rescue would not be an option. Now regarding Fannie Mae and Freddie Mac, what if “they” are over extended? Do you think the government will allow their bankruptcy? Of course not, so again I ask you, where will the money come from to keep them in business? No doubt you can see where we are and as most Presidential candidates have exclaimed over the past near 3 decades we need change. So can you imagine how much “change” will cost? How much will it cost simply to shore up our huge deficit? How much will it cost if the new regime adds even more unsustainable programs to those we already have? How much more will it cost when we are asked to add additional funds to the I.M.F. in spite of the fact we are already the largest contributor! This socialistic transference of money to unwarranted programs, bail-outs, entitlements, benefits, gifts or what ever you call them simply does not work. Our overweight economy needs to go on a diet. We need to stop eating up money with programs that attempt to reach every man woman and child. Take the losses where needed, learn from them and move on. Don’t feed the cancer, cut it out! We need people in charge (business people) that truly understand a profit and loss statement. Not a bunch of do-good lawmakers that simply get bills passed for the sake of their small constituency, so as to insure their re-election. We all complain about the CEO’s of major companies that make huge annual salaries. Rest assured, they don’t get the big checks because their companies fail! In fact if we were to pay a proven successful business person (not a politician) what the major companies pay their CEO’s we might end up with a balanced budget! Failing programs would cease to exist because they would not be consistently sustained in hopes of improvement.

Suggested links related to this article:

Peter Schiff & Dave Ramey Audio (the decline of the U.S. economy)

Christianworldviewnetwork radio broadcast, 2nd topic, $3trillion money market funds are NOT FDIC insured; 3rd topic, Peter Schiff "how we got here" + a disturbing view how future taxpayer's will be hurt again

Deposit Protection Primer

The Merriam-Webster definition of “Socialism”

Entitlements

FYI, Bank Money Markets “Accounts” are FDIC insured. Money Market "Funds" are NOT. Some Annuities are, some are not.

This or any article here, are simply posted for your consideration and further investigation of your own, and of course open dialog. My goal is not to advise you how to invest as I am surely far from expert. My commentary is to share ideas how we all may better exist and plan for the future. Regardless of how challenging our situation may be I am steadfast in the belief that if enough citizens unite, changes that “we” want to take place, will. Referencing my opening article Vote Like You Have Never Voted Before I feel strongly with God's help that politicians would listen “IF” enough of us make a concerted effort to contact them as well as making truly informed choices when it’s time to vote.

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