Lex Luz

Freddie and Fannie: Living in the Past

Interestingly, the American middle class did pretty well before the securitization miracle took hold. Back when banking was a relatively simple endeavor (hey, I said "relatively," right?) and the watchword was "know thy customer," people had to do more than fog up a mirror to borrow a half-million dollars... and yet somehow, we managed to hold up. Fannie and Freddie fulfilled an important mission. The problem, to my way of thinking, wasn't the mission or even the implied government intervention in capital markets. The problem was runaway greed and the foolish belief that the party would never, ever, EVER end. It's a problem shared by virtually everyone, from the treasonous monsters currently occupying every federal government office, to the foul cretins in the executive suites (and formerly in the executive suites - yes, you, Uncle Angelo, and you too, Dave, you foul, soulless slime), right down to the cash-out-equity-tappin... hummer-driving, sybaritic suburbanites who couldn't bear the thought of setting aside a few bucks a month and waiting a year to "upgrade" your media rooms.

The only thing that's missing from America today is the courage to face ourselves and get to work solving the ONLY national security issue in front of us: debt and the necessity to take the pain of the great unwind. Unfortunately, because that courage is missing, we are all but unquestionably finished as a "superpower." This, by the way, is exactly how every other empire came crashing to the ground, and so in the final analysis it is really true what they say:

The only thing we learn from history is that we never learn anything from history.

Bust, Bail, Repeat: The U.S. Enters into an Ever-Worsening Cycle

The destruction of the dollar has been a planned and willful act, carried out by Fed Governors with the full cooperation of the Treasury Department and the entirety of Congress dating back at least to the 1990s. How much longer will Americans be hoodwinked by the delusion that accumulating cheap crap from China makes us rich?

We are standing at the gates of hell, facing the Cerberus: one head is the national debt, another the current account deficit, and another our total dependence on imported oil. We have allowed ourselves to be led here - and make no mistake, we the voters are absolutely responsible for having put criminals into every office in the government for damned near 30 years - by the illusion of prosperity, created by the willful, planned destruction of our currency through rampant, systemic, unimaginably massive inflation of the money supply. Cheap crap for everyone! Never mind about your real purchasing power...

If you care at all about the future of America, you absolutely MUST vote out EVERY SINGLE INCUMBENT in office. It is time to start over. If I recall correctly, I believe it was Jefferson who said that "from time to time, the tree of liberty must be fertilized with the blood of tyrants." Tyrants rule our nation today, and at this moment we can spill their blood symbolically by kicking them out of office. These people are traitors, one and all. Every. Last. One.