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>Financial Crisis Getting Worse, Folks!

>By Don White
If you think we have turned the corner on bailouts and financial crises, think again. We have just seen the tip of the iceberg, according to insiders. Just consider the latest eerie news on things that are happening or going to happen to your dollar, to your retirement, to your ability to survive in these troubling times:

  • Being a former insurance executive I know we haven’t even scratched the surface of the insurance imbroglio. Assets are being driven down while liabilities are going sky high. We will never have enough reserves to pay for everything insured. Insurance companies are about to suck this economy back into crisis. They’re getting hammered from sinking assets, with almost no way to pay their guaranteed annuities to their customers. This could make AIG look like small potatoes… And we’ve just talked about life liabilities. What about accident and health? And what about the property and casualty side of things? Just wait. . .
  • Commercial real estate is about to blow. It’s financed by $3.1 trillion in debt – and the delinquency rate just doubled to $724 billion. And this is just the tip of the iceberg…
  • Bernanke is handing out another $1.5 trillion to banks and other failing companies. Total bailout money now exceeds $13 trillion. Where’s the money coming from? The Fed’s printing presses. Inflation, baby, it’s coming down hard.
  • And get this… According to the Bank for International Settlements, the value of all derivatives (including toxic credit default swaps) now exceeds 683.7 trillion. If we were to spend 100% of the worlds annual GDP ($56 trillion) on the problem, it would still take 12.2 years to unwind everything. But forget that. We can’t use up every other nation’s GDP to cover President Obama’s stupid decisions. Forget that. And he continues to take these expensive “dates” to see a Broadway show with wife Michelle at about $350,000 each when the rest of us must tighten our belts. A ruler like that is not a public servant, he either believes he king of America or that money falls from the sky. In reality, Barak is a raving lunitic with a mission to lower taxpers to the same paltry poverty level and lower America among nations to the poorest of the poor.

And if that weren’t enough to raise the hairs on your back… Homes foreclosures are unending… Unemployment is still rising… Banks may need another $500 billion to stay solvent, according to the IMF… Corporate earnings are hitting all-time lows… And a loan of any kind is still harder to get than a Popsicle in the Sahara…

Government can’t spend us out of this mess. Senator Judd Gregg of North Carolina said today on Fox TV that spending is the real culprit. The answer is not printing new dollars because that ignites hyper-inflation. The answer isn’t borrowing more money. China refuses to lend us more money because our credit rating is about to drop from AAA to the high B’s. To put this in perspective, we now are worse off than Britain, that socialistic country we all used to talk about. Based on fund borrowed compared to ability to pay it back the Brits are at 50 percent. America is worse off than that — yes the greatest country on the face of the earth, or the one that used to be that — is at 58 percent. Is it any wonder no one has any solid answers.

One wrong move and this bear market can slap down your gains in a single day – and leave you reeling for years to come. Or even worse… Fail to move and you could miss the biggest gains of your life.

One mistake in either direction could leave your retirement dead as a door nail.

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>If Marx And Engles Could See Us Now…

>America Lost The Cold War, Communism Won

Study the Communist Manifesto and see how America is almost there. The only thing we lack is Barak Obama who has promised to take us to that pastoral land of government power and handouts.

Our private enterprise system is under attack by Democrats. It has been called a system of greed by those who attack the machinery of capitalism, the liberal government, writers, movie stars, authors, and politicians.

The real instruments of greed are the politicians who take “slush fund” money, who “ear-mark” our money to their favorite charities, who do very little good while drawing their $170,000 per year salaries, who travel the world at your expense, and who have no limit to their ability to stay in power because of special interest group funding and no Congressional term limits.

Obama denies he’s a Communist. But if he is elected president he has promised to bring his Communist ideals full circle, with government-paid cradle-to-grave education for all Americans, a liberal universal medical policy all paid for by the government, greater reverence for labor unions, and more centralization of communication and transport which will be taken over by the federal government.

That’s just to name a few. Obama is very critical of profits made by titans of industry and lays the blame for the credit crunch at their feet instead at his own Democratic Party where it belongs. But he doesn’t mind enriching himself through private deals with criminals, slush funds, and ear marks to his wife’s company. She got a hefty pay raise once he threw his hat into the presidential ring. In return, he earmarked a million dollars to this company and promptly said there was no illegal undue favoritism, gravy, or graft involved.

Obama will do away with certain radio stations via the so-called “Fairness Doctrine” which will call for all conservative radio stations to donate “equal time” to liberal minds and voices, thus eliminating such conservative commentators as Rush Limbaugh, Glenn Beck, Shawn Hanity, Bill O’Riley, and others.

You think things are bad now? Wait until after November 4th. In short, Obama will quickly move to control America’s airwaves and stifle dissent. He will raise taxes on the “golden goose” that lays the egg of jobs in America, businesses. He will tax us to death, and I mean companies and people making more than $40,000.

Give no heed to what he says, look at his record because that is precisely what he has voted to do in the past. The condition of the economy will become far worse than it is today but his propaganda machine will further distort economic conditions so that he can declare another national “emergency” and jump in and confiscate private stockholder equity and make the State the only authorized participants in heretofore private enterprises.

Like many conservatives nationwide, I do not believe the current Wall Street meltdown should have been considered a national “emergency.” The “sky was never falling in.” Once you do that, panic envelops Congress–and it appears Obama and McCain are caught up in it, too–and lawmakers do strange things, things saner minds would never do. They pass a $700 Billion bailout that takes over the job of setting the economy right–it will never be right by throwing money at the problem–and they forget that in the natural course of events, our free enterprise system will not only survive but will do what government could never do.

The problem is that once you do this bail out you’ve got to do another and another. There will be no end to it until they have bankrupted the nation–and we are not far from that today.

Why so much fear? The economy is a self-righting mechanism. Sure, house prices are falling. Sure, many are “upside-down” in their mortgage payments and can’t sell a house. And it’s true that unemployment is on the rise. If we’d just let it alone for awhile things will right themselves without political intervention and the vote-buying mentality and meddling.

It’s really too bad that this came right before an election, where half of Congress could lose their jobs. That’s all they’re worried about. They want to save face by saying they did something. But what about Hank Paulson–he’s out of a job next year anyway? His panic was caused by just plain stupidity, and he’s got Bush by the scruff of the neck worrying about his legacy.

Meanwhile, this “bailout” plays into the hands of those who want more government, more communist-like handling of affairs of state. Each time we do something stupid like this bailout, we move closer and closer to a socialist regime, and even nearer to communism.

It will happen, my friends. In fact, it is happening as the national presidential election polls trend toward Obama over McCain, the experienced candidate. It is a total shame that the young people of our nation who support this inexperienced, Communist-inspired man don’t have a sense of history. Their other defect is their feeling of entitlement and their yearning to be on continual vacation from actual work.

Read the following 10 Planks of the Communist Manifesto and then tell me I’m not right.

1. Abolition of property in land and application of all rents of land to public purposes.
2. A heavy progressive or graduated income tax.
3. Abolition of all right of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.
6. Centralization of the means of communication and transport in the hands of the State.
7. Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal liability of all to labor. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equable distribution of the population over the country.
10. Free education for all children in public schools. Abolition of children’s factory labour in its present form. Combination of education with industrial production.

According to the Communist Manifesto, all these were prior conditions for a transition from capitalism to communism but Marx and Engels later expressed a desire to modernize this passage. Read more at Wikipedia
http://en.wikipedia.org/wiki/The_Communist_Manifesto and
http://www.criminalgovernment.com/docs/planks.html Criminal Government.