Trickle Up Economics

All we are hearing from the politicians and pundits is that we must give the government another $700 billion to bail out the failed lending institutions or else the economy will completely collapse. That without this money we won't have access to loans for houses and cars and credit cards and student loans, etc. That even with good credit, banks will be difficult to get money from.

Guess what? That's exactly what we NEED to happen. Our economy is a sham of money moving that ends up with us being hit with inflation, debt and bailouts. Our economy was funded by bogus loans, given to unqualified people by mortgage banks, who passed the risk off to the secondary market of Freddy and Fanny, who then passed it on to the prime lending market, who then peddled it off to the marketplace via hedge companies like AIG.

Why was this done? Why was the risk passed and passed until the shit hit the fan and we got handed a trillion dollar bill? Because of social engineering by leftists, that's why. Banks were pushed by legislation created by Bill Clinton in the late 90's to give unsecured money to the economically disadvantaged, particularly the minority poor, in a bit of affirmative action lending that was enforced by Mae and Mac with an artificial, illusionary safety net handed to mortgage lenders so they would advance this "progressive" agenda.

What was the result of this social engineering? Disaster! Money was tossed around like paper at anyone with a heartbeat. No risk? Great! Here's some money! What happened? Housing inflation driving real estate prices to obscene levels that only created a viscous cycle of more and more unsecured lending, and eventually pricing the very poor who were originally supposed to benefit from this socialism right out of the housing market.

Now the bubble bursts and we get Trickle Up economic collapse. The junk loans are predictably defaulted upon by homeowners en masse, the mortgage banks look to Fanny and Freddy for bailout, who then look to the prime lending market for bailout, who then are stuck with billions and trillions in defaulted mortgages that can't be recovered.

AIG and other companies who bought millions of these junk notes and sold them under the hedge bet that they would be safe and secure suddenly find themselves with a lot of promises that collapsed. They relied on the mortgage market booming along so their futures would come out rosy for their investors, and believed the government backing made them risk free.

WRONG!

So, the mortgage lending banks collapse, followed by Mae and Mac, followed by the prime market and the companies that do business with them. Who pays for it?

WE DO! WE GET STUCK WITH A TRILLION DOLLARS AND COUNTING.

Yet, it's somehow our "duty" to bail out this poisonous system. It's a necessity to allow the lending of unsecured money to unqualified people to achieve the liberals dreams of social Utopia. We must allow the bogus lending practices to go on or we will all perish!

Bull sh-t. We tell them here and we tell them now: The politicians did this to us, and the politicians are on the hook for it. As Americans we need to stand up and say we will not support this practice of greasing the politicians and lobbyists and as part of some left wing experiment. We aren't guinea pigs, we aren't stupid, and we are going to fight this.

I say, time to make loan money harder to get again by returning the risk of lending to realistic margins. The economy today is based on false promises that devalue the dollar, cause inflationary price increases, and create unimaginable debt. We need to be fiscally RESPONSIBLE, we need to be SOLVENT, and we need to know that when we apply for a loan we will only get it if the one lending is willing to assume the risk without the false comfort of government bailout pressuring them to award bad loans to unqualified people.

Say no to bailout, say no to business as usual, and demand the government stop meddling with our lives as if we're part of some "moral socialist experiment".

THE BUCK STOPS HERE!