It would make my government proud.
Sheila Colleen Bair was the 19th Chairperson of the U.S. Federal Deposit Insurance Corporation (FDIC).
The following article written by Ms. Bair gives us no hope for the financial future of our country. Imagine if I told my small circle of readers the following:
1. Get your money out of 1's and 0's (anything where your assets are tracked electronically) and convert them into something that is necessary, barterable and/or will appreciate. Things like precious metals, firearms, ammunition and food.
2. The government's plan is to inflate federal reserve notes (and your life's savings) in order to increase their spending. Get out of the US dollar (see number 1).
3. The government's plan is also to redistribute your assets through higher taxes for entitlement programs in order to buy elections and stay in power. See 2012 election results. (see number 1.)
Yes, I have stated these facts for the past four years.
Now Ms. Bair is stating the following:
This would make her (not my) government proud. History shows that the extravagant spending and parties (inaugural balls) are at their highest just before their fall. You can draw your own conclusions on this woman's views: I have written about her incompetence while she ran the FDIC into the ground. And she was excellent at spending money while she was there:
The Federal Deposit Insurance Corp. said Tuesday its 2010 budget will jump to $4 billion from $2.6 billion this year, and announced plans to hire more than 1,600 mostly temporary employees as it continues to grapple with a rising number of bank failures.
The FDIC’s board voted at a public meeting to approve the 2010 budget, which includes $2.5 billion for resolving failed banks taken over by the agency. That’s up from $1.3 billion in 2009. The hiring plans will bring the number of FDIC employees to 8,653.
Ms. Bair will be proud? Let me remind all of us of this truth:
As the Roman Empire was falling, the emperors distracted the people with games in the Coliseum:
The Etruscans of northern Italy originally held public games, (ludi), which featured such events as gladiator battles and chariot races, as a sacrifice to the gods.
The Romans continued the practice, holding games roughly 10 to 12 times in an average year. Paid for by the emperor, the games were used to keep the poor and unemployed entertained and occupied. The emperor hoped to distract the poor from their poverty in the hopes that they would not revolt.
Over time, the games became more spectacular and elaborate as emperors felt compelled to outdo the previous year's competitions. The games involved more participants, occurred more frequently, and became more expensive and more outlandish.
It appears that Ms. Bair has just announced "Let the Games Begin" to distract the people by watching death and destruction before the fall.
The price will be high.
David DeGerolamo
by Sheila Bair
It's well into the new year. Have you made your resolutions yet? No? Well, I have a suggestion. This just could be the year the economy comes roaring back. The housing market is up; unemployment is down. But we all need to do our part to juice it up.
So folks, get with the program: Stop saving and start borrowing. The government is showing zero tolerance for savers, keeping interest rates near zero while targeting inflation north of 2%. Every penny saved in your 0.0005% bank accounts is a penny fast losing value. You need to go out there and spend.
I know that for many of you it will be tough kicking the savings habit. I have been a savings addict for years. When I was young, I was normal. I had six credit cards and kept to a strict regimen of maxing out my credit limits and racking up interest charges by making the minimum payments. For years I stayed straight and didn't save a nickel.
...
I've tried to change. I refinanced my mortgage three times, but then I saved the extra money instead of spending it. At last I think I've found a way to kick the habit -- a 5,500-square-foot McMansion on Realtors.com. It's on sale for $300,000, marked down from $2 million. There are some disadvantages. It's a two-hour commute from my job, and the utility bills are $2,000 a month. But if I buy before the Federal Housing Administration goes bankrupt, I can get a government-backed mortgage for only 3.5% down.
Comment
Comment by Cracker on January 26, 2013 at 5:33am Bring it on!
Comment by Jo Gonzalez on January 25, 2013 at 7:59pm This group of Liberals is interested in one thing, INSTANT GRATIFICATION. No yesterday, no tomorrow, just the NOW. Sort of like sex with a prostitute, cheap, quick, with very little lasting satisfaction. Living in a world with such selfish, self serving individuals is disgusting. They have no sense of responsibility, only the "Quickie", right now, right now. Well, life is not all about "right now". Life, and maturity are a series of steps to self developement, one step building upon another, an accumulation over time of effort, and actions leading to a higher place, and position. If we all lived in the moment, the entire structure of our Country would collapse, because as suggested here, we would all go out, and binge, and spend every dime we had, incur debt on anyone we could find, then wake up wondering who was going to feed us. You think the Government is going to take care of you!!!!! This is a LAUGH, a huge joke, and many aren't smart enough to even figure it out.
Comment by Jo Gonzalez on January 25, 2013 at 7:47pm Comment by Phil McConathy on January 25, 2013 at 1:52pm I also believe when the financial collapse occurs a lot of Obamas supporters will line up like sheep to get their free stuff from the government FEMA camp. They will so disillusioned when this occurs as they realize their Messiah was nothing more than a radical community organizer imposter.
Comment by Roger Mowery on January 25, 2013 at 1:33pm Anyone that believes we are passed the fiscal cliff is dilusional. Sadly, Congress only postponed the inevitable. Too many people will feel secure knowing they made it past the Mayan end of civilation and the January economic cliff and think our President and Congress are doing a bang up job. Far be it from the truth. We are set up for another round of downward spiraling of our dollar and another increase in our cost of living. Only this time it is going to be bad, really bad. Obama's policies will get us the $7 gasoline he believes we should be paying and groceries? Ha! You think the tripling of your food bill was bad because of the rise in fuel prices over the last four years? This surge is going to send not only the "Gun Nut Preppers" to the limits but the everyday Liberal as well. Liberals may finally begin to ask themselves "What the hell did I do?"
We've decided it isn't prudent to keep all our money in the bank any longer. A much better investment, even if you don't own a gun, is in ammunition. Yep, when the natives start to fight for your stashed can of beans you're going to need some protection money and bartering bullets may be the new currency of choice.
Comment by Debrajoe Smith-Beatty on January 25, 2013 at 12:44pm Ranchman I am planning on We The People having the last laugh. I also have never attended a hanging. I do plan on attending.
Comment by David DeGerolamo on January 25, 2013 at 12:44pm @Ranchman,
No need to give domestic enemies a head's up on our opsec.
Comment by Ranchman on January 25, 2013 at 12:40pm Hey Debrajoe, I understand what you're saying. But there are millions of us who are preparing. We refuse to be like God's children, the Jews and others in WWII. We will not just sit idly while our fellow Americans suffer in any way! There is a big movement on in this country to get prepared, although there also many who would ridicule and insult those who are preparing, even some on the Right, unfortunately. Regardless, those who are getting ready for the "big crash" coming will continue to prepare. Who do ya think will have the last laugh?
Comment by Robert Koch on January 25, 2013 at 12:32pm Debrajoe, I believe you are only partly right, I won't be shocked at all..... But many younger Obama supporters will devistated. easily led to fema facilities for 3 hots and a cot!
Comment by Debrajoe Smith-Beatty on January 25, 2013 at 12:31pm And we just set here like every thing is alright. I remember, someone posted that they could not understand why the Jews in Germany did nothing when Hitler was riising to power. We now know.
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