MORE BAILOUTS?!

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So now Fannie Mae and Freddie Mac have a blank check with which to bailout homeowners?!

But... with lofty 'goals'...

To help keep 'home owners' from becoming 'homeless'...

Now please don't get me wrong... *I* don't want people to become homeless. The mere thought of it breaks my heart. It is American 'families' who suddenly find themselves with no shelter, with no roof over their heads. A 'percentage' of these American 'families' have no where else to go... They truly are desperate and homeless. It truly is, or at least should be, heart rending. *I* would wish it on NO ONE! But *my* 'wants' and 'wishes' seem to have little, if any, effect on life's harsh realities...

But what got us here? Where we are now. Taxpayers stuck holding 50% of America's mortgages, likely the worst, most 'hopeless' 50% at that. Now tax payers are to pay this debt for our entire lifetimes and then pass the baton on to our children and their children's children...

200 BILLION DOLLARS apiece, it seems, was just not enough for Fannie Mae and Freddie Mac. 400 BILLION DOLLARS was just not enough... But at least now it is more clearly out in the open, what many of us have known all along, that no amount of fiat currency in the world can ever be enough to save them...

And exactly what companies is it that we are bailing out, propping up? Essentially it is incompetent lenders. Their toxic debt all somehow 'magically' materializing on the books of government sanctioned Fannie Mea and Freddie Mac...

Sure... the 'borrowers' were irresponsible. They were 'encouraged' by government and banks to be so... But these irresponsible borrowers are paying a price for their irresponsible actions. Many are paying dearly... many have had their lives destroyed...

So how much is the financial industry 'suffering' from their own foolish, inept, incompetent behavior?

Lets see... I think, last I heard, was that American tax payers are on the hook for potentially as much as 24 TRILLION DOLLARS! With a smorgasbord of government bailouts, backstops, liquidity injections, guarantees... Most all this handled by a federal reserve whom maybe we should rename the 'Money Fairy'...

All of the 'too big to fail' companies are now MUCH MUCH BIGGER! The actions of our government are the opposite of sensible! Making their action(s) nothing more than total non-sense...

And now California says 'give us 8,000,000,000.00 (8 BILLION) of taxpayer money or we'll kill the welfare state'. Plus California also says screw 'health care for all' and the expansion of Medicaid, we ain't got the MONEY! (DUH!) What states DO have the money for federal spending mandates?! States are in incredible pain all across the country.

You see... states are not allowed to 'print money' with which to pay their bills... That's ONLY the 'Money Fairy', the federal reserve...

So now it looks like the government will start bailing out the states too... Who's next in line behind California? As if we aren't ALREADY bailing out ALL the states! Only God knows how many police, firemen and teachers salaries tax payers are covering right now?! We, the American taxpayer, are responcible for making sure that ALL (government) union employees are paid regardless of what else might be going on in the economy.

We, tax payers, make mortgage/rent/grocery payments directly for the unemployed and the poor now through federally expanded unemployment 'insurance' payments and the expansion of food stamps...

We're currently in the process of bailing out the entire insurance industry, for crying out loud... The absolute ONLY thing health care 'reform' is about is finding a way, ANY WAY, to pump TRILLIONS of American tax payer dollars into the pockets, onto the books, of insurance companies! What?! We're bailing out big pharma too you know? It's in the health care bill(s)...

I say 'don't buy it'! Raise your 'risk' levels a little and stop buying ALL insurance products of ANY type!

I won't even bother with GM (especially GMAC) and Chrysler and all the rest of the recipients of the largess of bailout nation...

The market desperately 'wants' debt liquidation... and in the end the market ALWAYS gets what it wants... The market is always right.

That's why I have *my* money on the market. The administration, the treasury, the federal reserve and central banks are all 'worthy' opponents. But even 'they' cannot beat the market. Not indefinitely...

'They' only continue to make things worse with their foolish ponzi schemes...

There is tyranny in the land, in my opinion. I guess we, the people, patriots included, are just supposed to 'watch' quietly from the sidelines...

While our great nation is destroyed...

Greg