Fannie, Freddie, and you

The US government has entered the mortgage business! With your tax dollars! Government action to take over the two mortgage giants is a huge step toward socialism, with more to come should it decide to bail out more big banks/investment firms and the US auto companies. The nation’s (your) debt just doubled to… some say $8,000,000,000, others say $56,000,000,000! Yes, that’s trillions that must be repaid by you and your heirs. Is hyperinflation in our future? Will the USA become a “banana republic?” What is your reaction?

Published in: on September 9, 2008 at 11:29 am  Comments (5)  

The URI to TrackBack this entry is:

RSS feed for comments on this post.

5 CommentsLeave a comment

  1. Repaid? Our minders have effectively doubled our national debt– a sum which previously was beyond the pale of even four generations of future Americans yet unborn to repay– and now its been substantially increased. And where are the voices within the halls of the Imperium calling for meaningful cuts in spending? There are none. There is only talk of more spending and more borrowing against an uncertain future.

  2. Yes, Rev., this country is doomed. We can blame our horrid government, but we voted the idiots in.

  3. Bert, who is WE? YOU? Not I.

  4. “We,” as in “We, the people,” Wilsa. The same people in whom I lost faith when “we” elected and reelected B Clinton, and Ted Kennedy and Barney Frank. Etc.

  5. Bert, this is a systemic problem that goes back to the New Deal and even back to Wilson and Lincoln. Anytime you give government the power to do things for you, you give them the power to do things to you (to paraphrase Albert J. Nock).

    We have been content to allow the two-party system of tweedle-dee and tweedle-dum to run things as they salved our consciences with cash for those causes which most Americans thought, at that time, were right never thinking that maybe government was never met by our Constitution to do those things.

    Now, many have been shaken by the events of the last several years and in particular, those of the past few months. If ever we have a chance to correct this problem of overreaching government at all levels, it is now. There may not be a later, if you take my meaning.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: