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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?

McCain Sets Goal of 45 New Nuclear Reactors by 2030

June 19th, 2008

The New York Times has an article describing John McCain’s Energy Policy. He stated he wants 45 new nuclear power plants built by 2030. First a little history on nuclear energy. Nuclear energy is the safest, cheapest way to power this country. It is cleaner than coal, gas, and oil. It is cheaper than solar and wind. It is more dependable than all three. And it is illegal to construct a nuclear power plant becuase the United States government won’t grant you permits to build one even if you wanted to finance it your self.

The fact that McCain supports nuclear energy is very clear. The problem is how he wants to pay for it. If some company out there wants to build a nuclear facility, and is willing to finance that structure, fantastic, grant the paperwork immediately. However, if no one is willing to do it without government subsidies, then too bad.  The problem with nuclear is the damn hippies are against it, 100% no discussion. Even if McCain was able to grant permits to companies willing to pay for their own power plant, they are unwilling because construction takes longer than four years. Who knows who will take the helm after McCain. A left wing tree hugger (I like my trees too, only ones on private property, but that is a whole other discussion)? That is a very expensive slippery slope.