Let’s face it.  The recent stock market turbulence is somewhat scary, and we at Whiteandright.com have stated in previous articles that perhaps the scariest development has been the bankruptcy of Loehman Bros. investment group.  

These Dudes are one of the original Federal Reserve international banks.  The Federal Reserve is made up of international private banks, and is not a government entity.  It is not governed by the Congress, and is essentially independent.   When one of their   brother banks goes under, that means that the poo poo is hitting the fan.  Simple, and frightening.

For the U.S taxpayer to fund the stupidity and incompetence of private firms is pretty scary and sets a terrible precedent.  Are  we Private enterprise or are we socialist? 

The terrible precedents of bailing out New York City with federal tax dollars in the 1980’s was wrong.   Bailing out Chrysler Corp. in the 1980’s was equally wrong and highly imprudent.   But in these two incidents, one was a local government, and the other was a major defense contractor in the middle of the cold War against the commies, that’s right I said the “Commies”.  We at Whiteandright.com don’t give a damn about being politically sensitive or “politically correct,”  Which, by the way, is itself a Chinese commie term, to hell with “PC”.

But now, we are talking about literally a 100 times larger bailout than before, and bailing out a private company, not a government entity  or a  needed defense contractor.  This in reality makes the Secretary of the Treasury and the President the wealthiest men in the world, for all practical purposes.  This has got to stop, and at the root of this is the Federal Reserve System.  Again, let’s be clear, this is a system that does not answer to the taxpayer, and can essentially control the Economy at will.  Couple the debacle of the Federal Reserve system and the Social Security train wreck which is about to happen, and you have a real mess.  In Graduate level Economics terms, we call  it the poo poo hitting the fan.  Better duck!!

 Let’simmediately get rid of  the Federal  Reserve System, and phase out Social Security.  We are in the midst of leaving our children in a complete Economic Nightmare.  Please read my previous article on the stupidity and lies behind the Social Security System .

MF