ELDER PATRIOT – The Drudge Report’s central headline reads, “Apple Crash Could Bring Down Market.” The story is linked to marketwatch.com and highlights just how vulnerable our economy has become under the progressive agenda.
With Main Street businesses having been sacrificed in favor of large-cap mega corporations under the progressives’ legislative agenda, the nation’s economic health is virtually completely dependent on a perpetually rising stock market. History tells that such a condition has never been sustainable.
What in the world could’ve possessed our economic policy-makers to pursue such a tenuous course? Here’s one theory:
Marxists are about centralizing command and control over the economy. By driving legislation in the favor of large-cap corporations over the past 6 years, they successfully eliminated and weakened many mid-level and entrepreneurial-level operators thereby consolidating market share in fewer and fewer companies.
When the market downturn comes – as history tell us is guaranteed to occur – these mega-corporations will be desperate for government support either in the form of low-interest loans, tax incentives, or bailouts. With the help of the mainstream media, the Progressive-Marxist Congress and President will rally the people into accepting the nationalization of at least a portion of our once great industrial base.
More from MarketWatch where the headline reads, “New 3%-down mortgage off to ‘good start,’ Freddie Mac chief says.”
So, let’s get this straight. The last time the economy crashed was in 2008. The proximate cause were the number of “underwater” mortgages. Now, as the recent rise in housing prices is beginning to approach another bubble our government is offering mortgages that only require a 3% equity state by the purchaser. With only as minor correction in housing prices those mortgages will be under water with the underwriters requiring a bailout in the event there become a significant number of defaults. Considering more and more American jobs are being taken by immigrants or out-sourced entirely this is a growing likelihood.
Congress and the President foresaw the problem they might have selling this to the masses a second time so shortly after their last manufactured housing crisis so they’ve already passed the legislation for a bail-in without your knowledge. What this means is when you deposit money in a financial institution it becomes an asset of the bank and no longer belongs to you. This enables the bank to sidestep messy political considerations that the bailouts of the past caused and take your money directly to cover their financial malfeasance.
The Elitists in Washington like this because it allows them to advance their social justice agenda at taxpayer costs. One more form of reparations without the offensive name.
It’s becoming more obvious all of the time that the leaders in Washington have no intention of fixing problems. Or, their goal is to exacerbate our nation’s problems. Either reason is unacceptable.