(www.mountainsentinel.com) -- I'll parse as few words as possible. We don't need
this bailout. The economy will not crash if Congress doesn't pass it. What is
more, the bailout itself could sink the economy.
No economists were consulted about this bailout. No one
knows where Paulson came up with the $700 billion figure. Investor Marc Faber,
who is considered a reliable judge of these things, believes the actual amount
of the bailout necessary will be closer to $5 trillion.
Every economist worth his or her credentials has gone on
record against this bailout. Nobody has offered any details on what they want
to do with this money. The best we can figure is that Paulson intends on giving
extravagant Christmas presents to all his banking buddies.
So how's this for a bailout package. We use this $700
billion to develop a reliable mass transit system throughout the country, and
to rebuild our communities so they can go back to being more self-sufficient. That
means relocalizing production and agriculture, and placing the necessary
markets within walking distance. And while we're at it, we can refurbish our
homes for energy efficiency.
Now I haven't run the figures on all this, but I am willing
to bet it will not cost $700 billion. And all of this retooling would actually
provide jobs and stimulate local economies, instead of swelling some
financiers' pockets.
Unfortunately, between the wa r debt
and the bailouts, we are wasting any chance we might have to do something
positive for the people of this country. Our future security is being mortgaged
to pay off a pack of thieves.
This amounts to a banker's coup on the U.S.
government and the taxpaying public. As a part of this legislation, the financial
institutions which benefit from this bailout will become agents of the
government. According to the most popular definition,
that is fascism.
The $700 billion bailout will cost every man, woman and
child in this country $2,000. My nephew's newborn daughter will be indebted
before she is even a month old. And if the true amount of the bailout is actually
$5 trillion, then the amount owed by every man woman and child in this country
will jump to $14,000. A family of four will accrue $56,000 of debt in order to
pay off the imbeciles who got us into this mess in the first place.
And with all that, the bailout will not solve the problem.
It may delay disaster for a few months, but the fall will be even harder when
it does come. The next swing of the pendulum could bring down our entire
country. So what would happen if the US
was placed into receivership?
It is too late to stop the bailout. But we can make damn sure our politicians know how we feel about it. I
sure as hell will not vote for anyone who supports this bill -- including
presidential candidates.
Anyone for a tax rebellion?