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Bernie Madoff

Posted by burtf51 on December 12, 2008

Boy it just keeps getting better! Corruption and more corruption. So now they’ve nabbed ole Bernie Madoff or rather Bernie Made-Off with Billions. The Ponzi scheme is “all a big lie” according to Madoff.

This should get interesting when the whole truth surfaces. Who knows, the scheme may get a new name…The Made-Off Scheme.


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Fed’s Answer…Consumer Spending

Posted by burtf51 on November 26, 2008

Consumer’s are finally waking up and facing the reality that they have been over spending. It’s high time consumer’s realize that you can’t spend what you don’t have or borrow what you are not capable of repaying. 

The irony of what our Federal Government is trying to accomplish with the trillions of our tax dollars they are injecting into the banks is to encourage consumer’s to get even more in debt. The reality is that consumer’s have finally come to terms that they are spending more than they earn. 

I just hope that the general population doesn’t fall back into the same old spending habits or trust the government (who can’t manage their own finances) to council consumers on their fiscal responsibilities. The government will drive consumer’s into bankruptcy. 

Everything is going up and taxpayer’s pay remains the same. Wages aren’t keeping up with the inflated prices of goods and commodities. Who stands to benefit from more consumer spending? BANKS! Who will suffer? Consumers! So what we have here is a vicious cycle. The banks at the governments encouragement has made trillions of dollars in bad loans. Then the banks pocketed ungodly profits from the over-extended consumer via high interest on bad loans. The banks bilked the system dry, consumers defaulted on loans and credit card debt and an economic meltdown in the banking system occured.

OK, first the consumer made bad financial decisions, the banks profited from these bad consumer decisions for awhile then collasped. Next, the government jumps in and says oh shit! Let’s take the taxpayers money and Bailout the banks that screwed the taxpayers. Now lets encourage the banks to start lending money back to consumers that bailed them out who still can’t afford to get deeper in debt. Something just don’t add up here!

The consumer crashed and burned over too much debt resulting in the banks demise, then the government puts the taxpayers even more in debt with a bank bailout and has the odacity to encourage the consumer to drive the last nail in their coffin by borrowing even more money from the banks. EARTH TO PEOPLE! Now hear this…..We From The Government and We’re Here To Help You! 

Fool me once, shame on you, fool me twice, shame on me. This is not rocket science! If you make $30K yearly, you can’t spend $40K yearly. Do I need to make it simpler? If you bring home 3 thousand dollars a month, your bills can’t be $4 thousand a month contrary to what the government is promoting.

People this is a conspiracy by Wealthy Businessmen (Federal Reserve) who control the world backed by our government to restore the economy so they can start the screwing process over once again. There’s an old saying..”You got to spend money to make money”. This is exactly what our government is doing…They are spending our money in an efford to enable the wealthy businessmen to make more money than they spend.

Bottom line…be responsible for your finances and you gain control of your life. Fall for the bullshit our government is spewing out and wants you to believe and be a slave to the system! THE CHOICE IS YOURS!

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This Is Getting Good Folks

Posted by burtf51 on November 23, 2008

Just please make up your mind! When this whole Bailout bill was enacted, the idea was to buy up the bad mortgages and help the irresponsible homeowners in despair. Then Paulson instead gives the money to banks. Then Paulson made a speech saying they had reconsidered their views and weren’t going to take over the toxic assets. Now as of this weekend, the treasury is fevershily putting together a plan to Bailout the Toxic Assets of Citigroup. 

Gosh, I’m confused…yes we are, no we’re not, well maybe we will, absolutely not, probably so, OH CRAP! 

Bottom line, as long as the idiots in our government keep stoking the fire that the economy is doomed unless they pour a gazillion dollars into banks, panic in the market will escalate. If the news channels stop covering the economic doom and gloom and the two idiots Bush and Paulson aren’t allowed to spew forth their nonsense bullshit on television the markets will stabilize.

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