HowardFreeze the Mortgages and the Debt
October 1st 2008 16:04
Real Crash- Looking at Capitalism and its Laws:
Grace Slick, another crazy Baby Boomer
One bailout makes you larger,
And another one makes you small,
And the one from Boehner and Pelosi,
Doesn't do anything at all;
Calll Barney, for a real good trip;
(Grace Slick, Jefferson Airplane, White Rabbit, spoof music)
Another alternative bailout proposal is to have the Congress sell drugs, particularly cocaine. That could get a manic high back into the stock markets. Liberal Democrats, like Barney Frank, and libertarian Republicans "who hate big government" could unite in some profitable drug pushing. That is about as sane as this $700 billion bailout proposal.
A lot of debt, including unpayable home mortgages are just going to have to be frozen. The housing market and real estate could take years to settle down. Any attempt to have the government bailout out the derivative instruments, such as mortgage backed securites, credit insurance, etc, will not work, because the confidence in the system has been destroyed. A bailout will work to destroy the credit of the United States government, and soon even destroy the United States. Perhaps that is the purpose of the globalized financiers from Felix Rohatyn to George Pratt Schultz to George Soros, in the first place. After all, the British, deep down in their nasty little oligarchy, have never reconciled themselves to the American Revolution. For more, Listen to LaRouche today, or get the transcript, he's doing his webcast at 1 pm.
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