Many of us in the real estate business opined that something was stinking up the grocery store. With land and house values appreciating by the double-digits here in the Puget Sound, those of us with some common sense started asking the questions, "Is this sustainable? Where are these people getting all this money? That punk jack-ass has a fucking Porsche?" I have known since late-2006 that something was going to pop. But I didn't think it would be this loud.
Money was cheap; too cheap.
Consumption, both public and private, financed with debt can be a real killer if left unchecked. Let's face it. Our government has been and still is spending us out of control. And we the consumers have been living beyond our means.
Bailing out Wall Street with money we don't have won't work, and using taxpayer dollars to save a private industry violates just about every free market principle known to mankind. Too big to fail. Bitch please. You want to know what's too big to fail? The people! The taxpayers! That's why millions of Americans like me yelled against the bailout (McCain you fucking tool.). But we the informed and intelligent are simply outnumbered.
Lending money to those who you know can't and won't pay it back, and then selling those securities with a AAA rating is fraud (THE GLASS STEAGALL ACT OF 1933 MUST BE REINSTATED!! Fuck you Bill Clinton, Phil Gramm, and James Leach!! JUMP MOTHER FUCKERS!!!). That's OK. We'll bail them out with our fake Monopoly cash. "Hey! You fucked up! Here. Have billions of future taxpayer dollars. Don't worry. We'll tax them even more, especially the rich ones."
So Congress continues to borrow, and continues to spend. Our national debt + unfunded entitlement programs top $50 trillion. Barney "I suck dick" Franks tells us how there are plenty of rich people to tax even more. And now we have a Communist headed to the White House. No wonder the Dow is sinking faster than the Titanic. In the words of the Grouchy Old Cripple, "We're Fucked!"
We were warned, however. There are still good economists out there like Peter Schiff. Put him in charge!!!!!!! Enjoy the video.