Tag Archive | "Economic"

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Was The Economic Crisis Manufactured?

Posted on 10 April 2011 by Editor

Originally posted 2011-04-10 23:30:39. Republished by Blog Post Promoter

by Nancy Morgan
March 6, 2011

In the summer of 2008 as McCain and Obama were in the midst of their campaigns to capture the presidency, a series of events dramatically changed the focus of the campaign from Iraq to the economy. From that point on, Obama took the lead and eventually won the presidency. 


Now, a full two years later, the Pentagon has issued a reporton the series of events that led to the 2008 economic crash. Bill Gertz writes in the Washington Times:

Evidence outlined in a 
Pentagon contractor report suggests that financial subversion carried out by unknown parties, such as terrorists or hostile nations, contributed to the 2008 economic crash by covertly using vulnerabilities in the U.S. financial system


“There is sufficient justification to question whether outside forces triggered, capitalized upon or magnified the economic difficulties of 2008,” the report says


Notable for its’ absence is any suggestion that the economic events that arguably catapulted Obama into the White House may have originated in our own political system.


Consider: The economic house of cards started tumbling on June 26, 2008, when Senator Chuck Schumer leaked a memo questioning the solvency of IndyMac bank. This memo precipitated a run on IndyMac which led to its failure. Federal regulators pointedly cited U.S. Sen. Charles Schumer, D-N.Y., in explaining the bank’s failure. “The immediate cause of the closing was a deposit run that began and continued after the public release of a June 26 letter to the OTS and the FDIC from Senator Charles Schumer of New York.”


As I wrote in February of 2009, this event, coupled with the Lehman Brothers collapse in September, marked the beginning of the current economic meltdown and provided the environment that enabled Barack Obama to focus on the economy instead of his position on Iraq – and, not incidentally, resulted in his election as President.


For the last two years, the media has neglected to connect the dots regarding the strange gyrations in our financial markets that started in the summer of 2008. After Schumer caused the run on IndyMac in June, the government moved in:


July 12, 2008: The federal government takes control of the $32 billion IndyMac Bank. *

* Six months later, Jan 2, 2009, a seven-member group of investors agreed to buy the remnants of failed lender IndyMac for $13.9 billion. Other investors included a 
fund controlled by billionaire George Soros’ Fund Management. 

Sept. 6, 2008: Fannie Mae begins its downward spiral, which will end with a crash in November. This crash was avoidable, as the problems with Fannie Mae and Freddie Mac were identified in June of 2006, when 15 Republicans on the Senate Banking Committee 
introduced legislation to address the problem. Democrats, led by Barney Frank, killed the reform efforts.


Sept. 15, 2008: Obama and McCain are virtually tied in their race for the presidency. Out of no-where, in the space of less than 2 hours, the Federal Reserve noticed a tremendous drawdown of money market accounts in the U.S. to the tune of $550 billion. Rep. Paul Kanjorski of Pennsylvania said that if authorities had not closed the banks, $5.5 trillion would have been withdrawn from US banks, which would have caused the collapse of the US  within 24 hours.

This seminal event marked the ascendancy of Obama’s candidacy, and arguably resulted in his election as president. 

Fast forward to February of 2009:


The markets reacted to Obama’s proposal to bail-out mortgages and Senator Christopher Dodd’s talk of nationalizing banks by reaching 11-year lows.


Obama continues to stoke the fears of imminent crisis, actually using the word ‘crisis’ a total of 26 times in one speech.

Enter George Soros. The infamous one-worlder, billionaire George Soros adds his voice to the media doomsayers by opining that the world financial system has effectively disintegrated, adding that there is yet no prospect of near-term resolution to the crisis.* 


The series of ‘inadvertent errors’, deliberate obstruction, political shenanigans, behind the scenes manipulation of the money markets and non-stop calls for immediate infusions of taxpayer cash brought the U.S. to its knees by February 2009. And continues to this day. 


The newly issued Pentagon report, along with the media and our elected officials, seem intent on not connecting the dots, considering only foreign enemies as the possible cause of the financial meltdown:


Suspects include financial enemies in Middle Eastern states, Islamic terrorists, hostile members of the Chinese military, or government and organized crime groups in RussiaVenezuela or IranChinese military officials.


This author believes there is enough information to at least consider that this crisis was manufactured for political gain. Right here at home.


Nancy Morgan is a columnist and news editor for conservative news site RightBias.com

She lives in South Carolina

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FDR and the “Economic Bill of Rights”

Posted on 10 April 2011 by Editor

Originally posted 2009-08-27 21:58:44. Republished by Blog Post Promoter

FDRby CJ Galdes
Conservative Voices
August 26, 2009

With the most radical administration of all time in the White House, so many people have tried to figure out where the President gets his agenda from. Many point to Saul Alinsky’s “Rules for Radicals” for that answer. I don’t disagree, and I think every American should read it to get an idea of what we’re looking at. However very few people are able to come up with this next source that I will share with you. FDR’s “Economic Bill of Rights.” In fact, very few people have even heard of “The Economic Bill of Rights”. I blame the liberal media and corrupt education system for covering this up. These “Big Brother figures” do their best to try to change this part of history. However some of us have caught on, and it’s time to expose where the far left gets their agenda.

“The Economic Bill of Rights” – January 11, 1944

It is our duty now to begin to lay the plans and determine the strategy for the winning of a lasting peace and the establishment of an American standard of living higher than ever before known. We cannot be content, no matter how high that general standard of living may be, if some fraction of our people—whether it be one-third or one-fifth or one-tenth—is ill-fed, ill-clothed, ill-housed, and insecure.

This Republic had its beginning, and grew to its present strength, under the protection of certain inalienable political rights—among them the right of free speech, free press, free worship, trial by jury, freedom from unreasonable searches and seizures. They were our rights to life and liberty.
As our nation has grown in size and stature, however—as our industrial economy expanded—these political rights proved inadequate to assure us equality in the pursuit of happiness.

We have come to a clear realization of the fact that true individual freedom cannot exist without economic security and independence. “Necessitous men are not free men.” People who are hungry and out of a job are the stuff of which dictatorships are made.

In our day these economic truths have become accepted as self-evident. We have accepted, so to speak, a second Bill of Rights under which a new basis of security and prosperity can be established for all—regardless of station, race, or creed.

Among these are:

The right to a useful and remunerative job in the industries or shops or farms or mines of the nation;
The right to earn enough to provide adequate food and clothing and recreation;
The right of every farmer to raise and sell his products at a return which will give him and his family a decent living;
The right of every businessman, large and small, to trade in an atmosphere of freedom from unfair competition and domination by monopolies at home or abroad;
The right of every family to a decent home;
The right to adequate medical care and the opportunity to achieve and enjoy good health;
The right to adequate protection from the economic fears of old age, sickness, accident, and unemployment;
The right to a good education.

All of these rights spell security. And after this war is won we must be prepared to move forward, in the implementation of these rights, to new goals of human happiness and well-being.

America’s own rightful place in the world depends in large part upon how fully these and similar rights have been carried into practice for our citizens.

A liberal reads this and is amazed at how compassionate it sounds. A conservative reads this and is amazed at how silly it sounds. FDR is an embarrassment to this country. What he proposed only undermined the constitution. However as thinking American’s we can take so much out of this, and I’m sure you’ve come up with some conclusions of your own. I have done the same, and here are a few things I’ve come up with:

  1. These all seem nice in a perfect world, however we don’t live in a perfect world, do we? Wake up liberals, welcome to reality. Unfortunately it would be impossible to provide things like “a house for everyone.” Don’t let this confuse you. We live in the United States of America, the land of opportunity. This means that everyone has the opportunity to have a house. Housing is not guaranteed though. If you don’t want to put forth a little effort, we’re not just going to give you housing. This was tried just recently if you will remember. In fact, this is one of the main factors that lead to our economic downturn. Providing these risky loans to people who quite frankly can’t pay them off. Oh, and who can forget LBJ’s “War on Poverty.” Maybe this is a topic for another day, but just to sum it up in one word, FAILURE! Unfortunately there is no way to completely eliminate poverty. That doesn’t mean we shouldn’t try to help out. I’m all for helping those who are less fortunate. Private donations are a great way to help the poor (something Joe Biden knows nothing about). The problem comes when it is government regulated.
  2. If it’s not obvious to you, I’ll spell it out. THIS IS SOCIALISM! Looking back at some of these “rights” you can see that FDR wants to create a society of the rich. This sounds nice, but it’s just not possible. Not everybody can live a life of luxury. This is something that is earned. Sometimes socialism is described as the equal distribution of wealth, I disagree. There are a few definitions we must get straight. Capitalism may be the unequal distribution of wealth, but socialism is the equal distribution of poverty. When you continue to suck money out from the rich, obviously the rich get poorer. And unfortunately, as proven throughout history, the general rule of thumb is when you continue to feed this money to the poor, they just stay poor. There are a small percentage of people who just caught a few bad breaks and actually need a little boost from the government. But there are also the people who are poor, because they want to be. I’m sorry, I speak the truth, and sometimes the truth ain’t nice.
  3. Do you think that FDR was trying to represent the people when he proposed this bill? The fact of the matter is, the majority of Americans are opposed to these ideas. I’ll take an example and we’ll compare it to an issue today. You might have noticed that socialized healthcare is mentioned in this bill. Today, poll after poll shows that the majority of Americans are opposed to this idea. That goes for just about every other idea in this bill as well. Do you think our founding fathers wanted these types of things implemented in America? Of course not. The founding fathers were true capitalists. They set up the constitution to protect from these types of things happening. FDR was a left wing activist who really did not care for the constitution.

These are just a few ideas to get you thinking. Of course there is much more to be said on this, but not everyone is up for reading a book on the subject. I encourage everyone to use this “Economic Bill of Right’s” and reference it when necessary. Come up with your own ideas and share this with others. They will try to hide things like this and keep them out of the history books, and it’s our job to expose it.

. . . . . . . . . . . . . . . . . . . . . . . . . .

CJ Galdes writes for Conservative Voices blog and also hosts a talk-radio program Friday nights at 9 pm EST http://www.blogtalkradio.com/grizzlypolitic.

He lives in Grand Rapids, Michigan.

Article has been published with the author’s permission

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The November 2009 CCC Blog Carnival

Posted on 10 September 2010 by Editor

Originally posted 2009-11-01 21:53:02. Republished by Blog Post Promoter

Welcome to the November 1, 2009 edition of the Carnival of Conservative Conversations.

As always, for our monthly Blog Carnival we select articles from a wide range of topics and expressing a broad range of opinions. This month is no exception. Below you will find opinions, short editorials, commentaries and full articles on a variety of current topics.

In addition to posting to our monthly Blog Carnival, we encourage you to submit your articles directly to our editor for possible posting on our site well in advance of the next carnival. Please submit your articles, together with any specific attribution requirements and photograph by emailing our editor at editor@nakedliberty.com

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Scott Spiegel presents the following articles, posted at Scott Spiegel:

Please, Sir, I Want Some More Troops

Health Care Bill Gains Bipartisan Support from Career Gals of Maine Party

All Roads Lead to a Dead End

Para-Constitutional Activity

smrtas1 presents the following articles, posted at Conservative Patriot HQ:

All Government Healthcare Plans Will Cover Illegals

Accounting Tricks in the Baucus Health Care Bill

Do You Have a Cadillac Insurance Plan?

danny1961 presents:

Through health coverage to serfdom posted at Samson BLinded

Steven Handel presents:

Milton Friedman’s “Free To Choose” posted at The Emotion Machine

Jared Rhoads presents:

Health Reform Tea Party posted at The Lucidicus Project, saying,
“Tea Party activists need to argue FOR capitalism, not just against socialism”

Taft Babbitt presents:

Big Government is more dangerous than Big Business posted at American Sage

Steve presents:

Blame it on Rio « My Informed Report posted at My Informed Report

BWL presents:

Another 10 billion to be spent on the extention of the home-buyer tax credit! posted at Christian Personal Finance, saying, “Just in case we hadn’t spent enough money already, the US Government decided to extend the homebuyer tax credit for another 8 months…”

Thinker presents:

President Medvedev on Stalin posted at Desire for Thought

That concludes this edition. Submit your blog article to the next edition of  the Carnival of Conservative Conversations using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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