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The Fall of the Empire

July 14th, 2008

The BBC has an article regarding Fannie Mae and Freddie Mac. While this article’s slant is ridiculous at best, it does paint a great picture of what happens when governments artificially create a market. The US government artificially created a market of lower (than commercial banks can offer) interest rate mortgages, artificially inflating the mortgage market. Fast foward 70 years, and Fannie Mae and Freddie Mac, both government-backed (that is pronounced taxpayer-backed) organizations have 5 trillion dollars in debt that is guaranteed by the US government. That is $5,000,000,000,000! The national debt (which does not include this debt, which is ridiculous) is $9 trillion.

Lets summarize:

  • the government artificially created a market of mortgages under the guise of the American Dream
  • the government manipulated interest rates creating the balloon
  • the government manipulated interest rates busting the balloon
  • now US taxpayers must guarantee $5 trillion dollars of terrible debt at the point of a gun

That is $5,000,000,000,000 / 300,000,000 US citizens = just under $17,000 per citizen.

When empires are held up by artificial flying buttresses, eventually the load will come crashing down. These socialistic burdens have grown tremendously large. If we don’t do something about it, they will come crashing down, hurting more people than 9/11, and we did it to ourselves. I see the cracks, do you? Only the rich will survive. The poor, the middle class, will pay for these atrocities. Are you ready to pay YOUR debt?

Great Blog Entry about Freddie and Fannie

July 14th, 2008

The Mises Institute has a great post discussing the fascist growing pains of Freddie Mac and Fannie Mae. Read it.

Congress whining about War

July 8th, 2008

CNN has an article titled, War Powers Act needs fixing, bipartisan panel says. To quote the article,

The United States needs a new law requiring that the president consult with Congress before going to war, a blue-ribbon panel led by two former secretaries of state said Tuesday.

I may be wrong, but doesn’t that law already exist. It was enacted a few years ago, more specifically, 1787 – The Constitution. It is only constitutional if Congress declares war, not the president. The article mentions this law at the end. The shear existence of this article blows my mind. Wow.

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Wells Fargo Corporate Spam Encourages Universal Health Care

July 8th, 2008

I got an email from Wells Fargo Small Business with the first bullet, Reforming Health Care Reform. It was all it could be. Socialist whining, over and over. It is a 10-point policy by the National Federation of Independent Business.  The first bullet is Universal healthcare. I am not sure if the National Federation of Independent Business has insurance providers as members, but may be they should research the true meaing of insurance. Insurance is the business of transferring risk from many individuals to one individuals. That transfer has a fee, the policy premium. Those premiums are invested by the insurer, allowing the insurer to pay out to the insuree in the event the risk actually happens. That means there is a statistical weight attached to each risk, dictating the cost (premium) of that risk.  That’s why car insurance premiums go up if you cause a collision (there are no such things as accidents). The chance of you causing another accident is far higher if you have caused an accident in the past.

However, in the case of health insurance, who should accept the risk of everyone’s health? If the cost to insure someone is too high due to health problems (caused by that individual no less), why should they provide insurance at a loss to them? If a business won’t accept that transaction, why should our government accept that terrible business plan?

Lastly, if you want national health care, why don’t take a walk down to the local VA hospital, the nations foremost provider of national healthcare? VA hospitals are notoriously understaffed, underfunded, and underperforming compared to its private counter-parts. If you can find me someone who prefers the VA hospital over a private hospital, I will buy you a coffee!

Don’t let good intentions cloud your judgement. The road to hell is paved with good intentions. How often are policies made with the outcomes weighed, not intentions?

Safety Regulations for Pedicabs

July 7th, 2008

AZ Central has an article regarding new safety regulations approved to regulate the pedicab business, predominately found in down town Phoenix, typically around sporting events, concerts, and fairs. That’s right. Our local government has solved all other problems, that they need to regulate pedicabs. As it turns out, we as a society are too foolish to recognize when bad circumstance when we see it. For instance, when that pedicab has a broken wheel, we are too dumb to not get in. Or we are too dumb on how to agree on a price before we transact business. I feel alot better now. At the end of the article, it mentions that pedicab drivers will need to pass a background check. What type of life are you leading that you can pass a background check and choose to drive a pedicab? How many people are kidnapped via pedicab? When they stop going towards your destination, or start villianously laughing, hit him over the head with your shoe! I like the comments after the article.

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