The Crony Capitalist Bailout Nation ~ Bob Chapman 8/8/2009

[peaceandlove]

The Crony Capitalist Bailout Nation

Posted: August 8 2009
Bob Chapman

Were the bailouts even constitutional? looming threats upon USA credibility, bond values, interest rates and hyperinflation,TARP should have bailed out the people, Swap arrangements are smoke and mirrors, markets will devalue the dollar, Moral Hazard has already deeply damaged the nation

Excerpt:

When we recommended against bailouts, we initially were referring to the subprime borrowers who lied on their applications and never should have been given mortgages in the first place. Bailing out failed financial institutions was the farthest thing from our mind because it was simply unthinkable. Instead, we have seen subprime borrowers given token help and watched in horror as the failed Illuminist financial institutions were given the key to Goldman Sachs South and its Treasury Department. We watched slack-jawed as the United States of America became the "Crony Capitalist Bailout Nation." If anyone is going to be bailed out, it should be the taxpayers and not the elitist transnational corporations and financial institutions who park their foreign profits offshore and don't pay any taxes on those profits! COME ON!!!

But the bailouts of "anointed" Illuminist companies have served one purpose very well. They have provided us with the smoking gun that proves the existence of the Illuminist agenda which we discuss in every issue of the IF. What do we mean by that? As Joan Rivers would say: "Let's talk."

Complete Article: http://www.theinternationalforecaste...Bailout_Nation