Just How Dumb Does Obama Think We Are?

“We came through a period where people borrowed too much and we let our financial system take on much too much risk.” -Tim Geithner.

Geithner continued, “And the consequences of those choices, made over years, were a huge boom. And that boom, the air is now coming out of that and that’s causing enormous damage.”

If this is the logic that this Administration is using to run this Country then our only hope is prayer for a swift end to their reign of terror.

As a consequence of borrowing too much? What in the heck do they think they are doing to correcting this? They are borrowing against yours and your’ kids and your grandkids future income tax. They are borrowing from China and other nations via selling bonds. So they are doing the same thing that allegedly caused the problem in order to solve the problem???

The current problems were caused by greed. People dishonestly inflated the value of a portfolio and then sold it to others for a quick profit. Democrats in Congress forced financial institutions to make loans to high risk clients. Then the financial institutions “bundled” these and sold them to investors who were looking for quick profits. Eventually the “assets” became over inflated. Then the law of diminishing returns took over.

Investor’s found themselves short of liquidity. Major players withdrew funding (Soros) and caused the markets to dry up. People quit investing and held on to what was once their disposable income.

With what the Fed is now pouring into bailouts, they could pay off all taxpayers debts a couple of times over.

A wise man once said, “Only an idiot would make the same mistake twice and expect a different result.”

Also see: Geithner: Government is the Answer to Solve Financial Crisis

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Ghost Ranger, Tex’s first novel, is now available on Lulu and Amazon.

 

 

 

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