Here is another interesting and rather poignant article I found on the Lewrockwell.com website. The article is written by Jim Quinn who is Senior Director of Strategic Planning at an Ivy League university, and in it Mr. Quinn talks about the now all too familiar $700 billion government bailout and what possible repercussions it could have. Here are two brief excerpts from the article:
This has been a remarkable year. The United States has taken actions that will change our country forever. They have taken these actions without citizens voting or Congress passing any laws debated upon in public view. These actions have taken place behind closed doors and in conjunction with the bank CEOs who caused the problems. A multi-millionaire former investment banker, former professor of economics, and our 1st Harvard MBA President have committed at least ONE TRILLION of our future tax dollars to bailing out greedy incompetent criminal millionaire investment bankers. They have done this to avert an Armageddon type financial meltdown. I’m reminded of the rhetoric about weapons of mass destruction before our attack of Iraq. We needed to attack to avert a future nuclear holocaust. Why should we believe them now?
And here is another quote:
Let us be perfectly clear. The U.S. government has no money. We entered this week with a National Debt of $9.65 trillion. The deficit for next year will surpass $600 billion. Every dime of these bailouts will be borrowed. They will be borrowed from China, Japan, and the Middle East. In an effort to keep our corrupt financial system afloat, we have sold another piece of our country. The prestige and status of the U.S. in the eyes of the world community have suffered a catastrophic non-reversible decline in the last nine months. “We The People” had absolutely no say in this decision.
Indeed. Time for the United States Government to drop by Beijing and see if the Chinese are willing to lend a few hundred billion dollars.