The Audacity of Socialism: Illegal Aliens Can Get Home Mortgage Relief

 

You won’t believe this but read the following Clips from an Article by Jerome Corsi on World Net Daily:

Illegal aliens can apply for mortgage relief under the Obama administration’s $275 billion plan, according to immigration experts and a group the government will use to help homeowners modify loans.

Steven Camarota, director of research at the Center for Immigration Studies in Washington, D.C., told WND approximately 1 million households headed by illegal immigrants acquired mortgages through the beginning of 2007, before the housing bubble burst.

“There is no legal prohibition against illegal immigrants owning homes,” he said, “and in most cases mortgage lenders

will accept a taxpayer ID or a Matricula Consular card issued by a Mexican Consulate office as identification to illegal immigrants from Mexico.”

Chad Buchanan, a manager at SaveMyHomeUSA – a group cooperating with the Obama administration that assists homeowners facing foreclosure – told WND illegal immigrants who own a home “could certainly apply under our program.”

“We don’t target or go after illegal immigrant customers,” he said. “But if an illegal immigrant owns a home legally, we could try to help them under our program.

“A lot of mortgage modifiers out there never ask about the legal immigration status of the homeowner, and we do not ask either,” Buchanan said. “This is the first time I’ve had that question asked. All we are looking to do is to modify the current note, regardless what the legal immigration status of the client is.”

ALIPAC’s president, William Gheen, told WND the e-mail from SaveMyHomeUSA “not only looks like illegal immigrants could refinance their own homes under the Obama mortgage modification program, they could also apply to become loan modification brokers, so they could help other illegal immigrants refinance their mortgages.”

The New York Post reported that in seven of the 10 metro areas with the highest foreclosure rates in the U.S., Hispanics were at least one-third of the population. In two of these areas – Merced and Salinas-Monterey, Calif. – Hispanics constituted half

The Post also reported that the La Raza Development Fund has received millions in federal funds to counsel their constituents on obtaining “no money down” home mortgage loans

This is nothing short of the rape of the American Tax Payer because the United States is flat busted broke so the money to bail out illegal’s with mortgages must be borrowed, at interest, from China so that your Great Grandchildren can be enslaved by debt.  This was just another Trojan horse in the Obama Spending Bill and if his speech to congress is to be believed he’s not even begun to spend.  President Obama wants to go after Socialized Medicine this year as well as free education for all.  K-PhD instead of K-12.  President Obama wants to tackle immigration reform as well so illegal immigrants can be made citizens after we rescue them in homes they never should have been able to buy.  Political Correctness trumps American law for the Neo-Socialist Progressive Democrats currently bankrupting the country.  The rule of law is different if your one of the democrats pet constituencies and at the end of the day when there is no law there is only anarchy.  That’s where we’re headed.

Don’t forget to read the whole article at World Net Daily at the following URL: http://worldnetdaily.com/index.php?fa=PAGE.view&pageId=89967

(By the way, La Raza is a Hispanic Fascist Group whose slogan is: “For those inside the race, everything; for those outside the race, nothing.  They are a Hispanic first society that believes the USA stole most of the American West from them and they’re determined to get it back.)

Risk and Reward in America: Bankers Reap the Rewards, Taxpayers Billed for Risk

Socialism by Government Bailout

 

 

This is back door socialism.  The very idea that all these banks from bear Stearns to FANIE MAE and FREDDIE MAC and other banks that have liquidity issues should have unlimited lines of credit from the Fed that is ultimately sold to or guaranteed by the American Taxpayer is outrageous.  Banks that took the risk to write crazy mortgages to people who were not credit worthy and who, for a time, profited in driving up the real estate prices, are now unwilling to take the consequences of their actions.  Our federal government is determined to save their undeserving hides while transferring the consequences of this criminal stupidity to the US taxpayer. We can’t have rich bankers going out of business because the whole system might break and we could have another depression!  Can’t have that!

Our New Energy Source

Now the law of unintended consequences rears its ugly head!  The bail out of the finance industry drives the dollar to record lows resulting in oil being driven to record highs because Oil seems like a much better investment than the plummeting dollar.  So to save the rich bankers we have cut the value of every dollar in circulation, your savings, investments and earnings while unleashing an inflation tsunami led by catastrophic oil price spikes which means the devalued dollars you hold by less and less.  All this to save the financial industry who let people with no ID, job history, credit history have mortgages with nothing down keeping real estate white hot and profiting from the frenzy until the bubble they created bust.

 

 

 

The Stock Market has become a national barometer of free floating anxiety and the extent to which we can all agree to be deluded when faced with the greatest rip off of wealth the bankers have ever perpetrated on we the sheep. Stocks that are bankrupt like Freddie Mac and Fannie Mae are now backed by the government instead of in receivership due to the folly of their actions.  The weak and the stupid are allowed to remain in the market instead of being destroyed and thus we perpetuate the idea that Uncle Sam will save the day for any financial mismanagement imaginable. What message does this send the finance industry?  Do any stupid thing you like and we’ll get the taxpayers to buy up all your worthless paper?  What’s wrong with this picture? I wonder why people at Fannie and Freddie aren’t in jail rather then continuing in their jobs, in a company they destroyed, being bailed out by the government. Where are our laws?  Why do we imagine that saving companies from the fruits of their greed and stupidity will redound to societies benefit?

Bear Market

The antics of the Stock Market have a sort of grim amusement for me these days because they go up and down in crazy ways with tons of crazy interference from our crazy government and with each fire the government puts out they plant the seeds of five more fires.  With each new fire, beginning with Bear Sterns, they make the conditions that gave rise to Bear Stearns more prevalent and they weaken the fundamental structure of our dollar.  I’m to the point where I don’t worry too much about the latest week bank that somehow manages to miraculously survive on Wall Street when any rational person would think they were about to crash because the government won’t let them.  The Stock Market no longer reflects the bottom line truths about business in America and now reflects some happy nonsense fed to us by the ever growing government.  The Stock Market is not worth worrying about these days because causation has been banished from the equation.

 

 

 

The Banks Survived: Will the Dollar?

The thing to worry about these days is while the dollar continues to slide and the government continues to debt like drunken sailors what happens when no one will by the government debt anymore?  What if other countries start dollar dumping?  It’s bad enough when people lose faith in the stock market and that’s one type of problem but when they lose faith in the government and the dollars they issue that’s another order of crisis.  That’s where we’re headed.  The Federal Government has vastly overstepped its bounds to its own detriment and now any sane country has got to be looking for a non self defeating way to get out of the dollar and into either commodities or some other currency. As all that debt the Japanese and Saudis’ financed becomes worth less and less by the devaluation of our currency they have got to be rather annoyed with us. All this additional debt the government is directly or indirectly taking on to put out fires on Wall Street are but fuel on the fire of the dollars destruction.  When the big crash comes, and it will, the actions of the government will have magnified the crisis by exponential factors creating a world currency crisis that will remove the USA from global leadership overnight.

 

 

 

Bernanke’s Folly and the Second Great Depression:

 

 

The unfortunate Benjamin  Bernanke, the historian and scholar of the great depression, has found to his chagrin, and our undoing, that he is to banking what Ehud Olmert is to Israeli war fighting.  He has, with his bail out of Bear Sterns, unleashed a title wave of inflation that is likely to wash away the world financial structures as we know them.  Bernanke acted to save banking and destroyed everything else ultimately including banking. I heard that Goldman Saks thinks we could have $200 oil yet this summer.  Five bucks a gallon is cheap compared to $7.50 a gallon for Christmas.  This insane inflation wave is about to bring spending around the world to a standstill and what banks are still standing are going to be very reluctant to lend anyone a dime.  My conclusion is that the financial meltdown started in the mortgage loan crisis, gave rise to the financial crisis resulting in Bernanke’s folly, the complete undermining of the dollar and complete destabilization of the oil market resulting in what is likely to be the next Great Depression.  

            There is no stopping oil going right through the roof and I would not be surprised to see $8.00 a gallon at the pump by New Years. As bad as the continuing rise in prices in gas is the unbelievable speed with which its occurring. It’s the speed that’s going to tank, and I mean TANK, the stock markets around the world.  It’s the speed of the rising prices that means consumers  and businesses have hit the breaks, big time, on any discretionary spending until we know what’s on the other side.  Unemployment is going to show a huge spike as people react to the massive oil increases being passed on to consumers in every sector of commerce.  Already there is reporting on companies closing stores and the tightening of belts. No one says anything like “It’s as sound as a dollar” anymore: If they have a functioning brain they seem to be saying, “It’s as sound as a barrel of crude oil”.  In the new normal that the unfortunate Mr. Bernanke has unleashed on us the value of oil has become the lifeboat of choice: forsaking and relegating the US Dollar to the dustbin of history.  Oil has no end in sight and we are simply a day late and about 9.5 trillion dollars short.

            Politically speaking this could not have happened at a worse time.  The Republicans and the distinctly unpopular George W. Bush are about to get the blame for real terror in American families that is due to hit just before the presidential election.  The result may well be the election of Obama, our first socialist president since we all know that Bill Clinton was the first Black President, and an overwhelming democrat majority in congress.  Imagine all those socialist democrats in office when an economic crisis of this magnitude unfolds: they will have the government controlling everything.  By this time three years from now you’re going to have high unemployment and it won’t be possible to tell the difference between America and Europe. The one lasting gift of the unfortunate Mr. Bernanke, to posterity, will be the end of America’s leadership of the world and the return of Europe to planetary leadership.  Yes, our “sophisticated” friends, the Europeans, will return to the leading role having hopefully learned from two world wars and soviet communism, to chart a less bloodthirsty role for itself. The political landscape in America is about to be permanently changed because the Federal Reserve once again made a fatal miscalculation. 

            The Bible makes it clear that the Europeans are in a leadership role in the end times.  The United States is not referred to in any clearly identifiable way.  I suspect that Pax-Americana is going to be the object of no small amount of nostalgia in the brave new world we are entering.  All things come to an end and history is repeat with mighty empires that were destroyed or as in the case of Ancient Rome and the USA, collapsed from their own complacency.  I’m afraid there are just three constants in human history to date:  Death, Taxes, and people like the Unfortunate Mr. Bernanke. 

            Check out this link for more on coming attractions:

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/27/cnbarclays127.xml

The Federal Reserve’s Fire Sale: Selling America Short

 

For some time now the Federal Reserve has been devaluing the currency and practically giving away American dollars through incredibly cheap money policy.  We have just emerged from an era of one interest rate cut after another.  The mortgage loan crisis, and the failure of Bear Sterns, made the Fed an interest rate cutting machine of fate that drove the value of our dollar ever lower and the price of oil into the stratosphere. The big money investors were saved to fight another day by the actions of the Fed but now the rest of us are about to pick up the tab.  This is the calm before the storm. 

Up to now we’ve seen the price of gas at the pump escalate to between $4 and $5 dollars a gallon and we’ve seen increases in food prices.  In the coming few months we’re going to see the price of EVERYTHING go way up and that when the Fed’s chickens, as Jeremiah Wright might say, will be coming home to roost.  It takes about six months for the effects of that sharp a jump in oil prices to fully work through the economy. Production and transportation costs for everything will shortly have to be passed on to the consumer. 

Even now the travel industry has got to be feeling the pinch; in six months they will be in sorry shape indeed.  How are airlines supposed to keep flying with prices this high?  The days of cheap food, cheep gas, cheep travel, and cheep money is about to come to an abrupt end.  We are months away from the realization that our economic trajectory is going to change our way of life forever.   The world as we knew it is over and we are about to enter a new world in which we relearn the facts of life that our grandparents and great grandparents tried to pass on to us.

            The Federal Reserve is a profit making corporation owned by the big money of Europe and America.  (The Rockefellers,  JP Morgan, the Rothschild’s, etc.) They are not part of the US Government and they, NOT the US government, control our economy. It’s important to know that the people who OWN us are now selling us short, that is betting that we are going down in value.  The US Dollar has been the worlds reserve currency for some time now and those days are, in my opinion, about to end.  In the days before the Federal Reserve, in the days when we were on the gold standard, the dollar had value independent of the machinations of bankers.  In our times the dollar is backed by “the full faith and credit of the United States”.  We are now a debt based economy in which the Federal Reserve lends the government our own currency for interest, but it wasn’t always so. 

As the US economy melts down in the months to come I suspect that Europe is going to come through smelling like a rose and the Euro will take the place of the dollar as the world’s reserve currency. Given the political climate and the likelihood that Obama and the Democrats are likely to win big over McCain and the feckless Republicans, when the “crisis” comes: it’s going to be used as an excuse to socialize the country.  As things get worse, the image of FDR is going to be evoked and we will descend into new-dealism that will be an endless slide into an economic coma.

            Just as the Federal Reserve passed out truck loads of dollars to the banks to deal with the “credit crisis” so they will now be forced to tighten up money to deal with the “evils of inflation”.  I don’t have much confidence in that plan!  I think we have reached a tipping point where our dollar will continue to lose value and where credit will be abruptly tightened up at the same time. The result will be an economy where prices continue to rise while the dollar continues to lose value. Money for investment will dry up and the government will start taking over large chunks of the economy, nationalizing whole industries, for the common good, and to keep the economy from going belly up. 

Naturally the government will have to expand to fulfill this new role and, naturally, taxes will have to go up such that we will pay more and more in taxes.  In ten years, we face the possibility of waking up one morning and being surf’s in our own country. Previously the richest country in the world, we will get up one morning and look around, with a blank stare,  at a  crumbling country.  Perhaps we should join the spotted owl and the polar bear on the endangered species list because if we don’t get a handle on the money and this economy, the way of life we now enjoy will be extinct long before the spotted owl.

Proverbs 22:7

7 The rich rule over the poor,

and the borrower is servant to the lender.

NIV

We should have known better.