Posted by
nomi on Sunday, March 30, 2008 1:00:18 AM
The mortgage rates have not gone down at all. In fact they have gone up since the rate cuts of January 23 of this year. Wasn't this the stated reason -to help the consumer. Instead the banks are profit taking. This is not going to the stated intended goal. This benefit is staying with the big banks or the campaign contributers of the administration and many in congress. Good job scumbags.
It all started with the initial fed cuts/ Greenspan and the banks created loans to allow for use of "equity" as credit cards. This "stimulated" the economy with construction and false sense of wealth. This also created a false need for extra workers that came here at a huge social cost, underneath it all bankrupting schools, hospitals, and putting additional burden on all sorts of infrastructure. All the while people who would be in danger of foreclosing in the future were sipping Pina Coladas and barbecuing while the borrowing for the upkeep of these "newcomers" with no new taxes other than that of inflated property taxes.
Then there was the war, all the contracts and demand for goods for this war making the economy somewhat more heated but at the expense again of government borrowing and thus putting the dollar in further jeopardy in the future. Many of the biggest contracts awarded by those supposedly against the war Murtha, Feinstein... The use of our men and woman in the armed forces and ancillary jobs took jobs away from the US and furthered the appearance of a need for "foreign nationals" to bypass all immigration laws, furthering the real burden of this new class. The appearance of Mexican Consulates teaching Mexican nationals how to use every social service possible further helped in the current state of our economy.
The banks enabled the appearance of a great economy. The stage of the war without the later to be seen mismanagement brought to light all helped Bush with the slim margin to win a second term. Currently, with the weak dollar caused by blatant and unchecked spending by congress and the administration, inflation started to emerge. This affected the rates. The false sense of wealth for all burst. However, Bush still owes the banks for helping the appearance of a great economy that was crucial to his reelection thus the lowering ot fed funds and the give away of money to banks in the guise of a "stimulus" package. And maybe also the campaign contributions to his campaign didn't hurt. Lord knows these politicians don't give a damn about individuals with the limit campaign contributions. Somehow, McCain left coporate ability to raise funds via foundations, pacs,.... and hasn't addressed this.
Anyways, while our most patriotic are overseas. It is time for the true agenda to emerge. The complete rape of the American people by a political class that will stop at nothing to use the treasury coffers for this and that and borrow the rest at the expense of the American people and sovereignty.