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Bailout, or Blowout? Financial “Rescue” Plan Turns into Mad Spending Spree
Mike Adams
NATURAL NEWS
Friday, October 3, 2008
(NaturalNews) As the United States of America stands on the verge of irrecoverable bankruptcy, U.S. Senators have decided to orchestrate a final “blowout” spending spree by dressing up the financial bailout plan with so much bloated pork that no lawmaker can resist its lure. The so-called “rescue plan” (renamed from “bailout plan” by Washington language police) has now ballooned into a 450-page overstuffed pork sandwich, featuring layer upon layer of outlandish expenditures tied to the bill like too must ballast on a sinking ship:
• Tax breaks for NASCAR race tracks
• Big handouts to Virgin Island rum makers
• Yet more tax breaks for Hollywood film producers
• Gifts to companies researching wool
• Huge tax breaks for companies like Microsoft and GE
… and many other handouts yet to be discovered in its 450 pages of pork.
What began as a financial bailout bill to save the future of America’s economy has become a free-for-all financial blowout that will only accelerate its demise. What’s astonishing here is that even on the verge of financial collapse, Washington lawmakers are incapable of coming to their senses. They offer the same solution to every problem: Spend more!
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“This is how Washington works,” said Keith Ashdown, chief investigator at Taxpayers for Common Sense. “A big pot of pork is their recipe for final passage.”
A big pot of pork
A big pot of pork, unfortunately, is exactly what Washington doesn’t need right now. With the jackals of hyperinflation already nipping at their heels, Washington policymakers need to be slashing spending with great expediency. To restore confidence to the U.S. dollar and prevent a cascading sell-off of U.S. debt by foreign nations (which would lead to the abrupt ruin of the U.S. government), lawmakers need to be reeling in wasteful spending, balancing their books and opposing the kind of free-for-all blowout spending practices that got us into this position in the first place.
Wasn’t it a Bohemian financial policy of unbridled spending and endless debt that brought us to the precipice of global financial collapse in the first place? And yet, standing right on the edge of the cliff, with nothing but nothing but disaster beneath them and the sand eroding from under their feet, all these Senators can think of is how to spend more money!
It’s like a heroin addict who decides to get clean, and then suggests the best way to accomplish that is to start shooting up. “I’ll get clean,” he promises you, “right after this next hit.”
An Empire of Debt: $488 billion more for war
U.S. lawmakers are addicted to spending in the worst way. Just like heroin addicts, they will get their fix at all costs, regardless of the harm caused to their family, friends or countrymen. They will spend away all the money in the world, mindlessly, recklessly, without a second thought, as long as it keeps them in office for just one more term. Just one more hit…
Last night, the U.S. Senate quietly passed a $600+ billion spending bill, which earmarked $448 billion in Pentagon funds (war money). This was all done under the cover of the much larger $700 billion financial bailout bill, which managed to keep people distracted from the $448 military spending bill.
Earlier this week, the Federal Reserve quietly, and without any vote, magically created another $620 billion in money and flooded it into the banking system. There was no debate. No vote. No public announcement at all. Just endless, silent money creation at every turn, seemingly conducted without any awareness or concern of the consequences.
And there was certainly no warning of how this would erode the savings accounts and retirement funds of taxpayers. In fact, nothing resembling the truth ever makes it out of Washington these days. This $700 billion pork-barreled bailout scheme is being sold to the American people as a taxpayer benefit! The government is doing us all a favor, didn’t you know? And we should feel so fortunate that they’re doing it with our money, too.
The Government vs. the People
It’s often said that the first casualty of war is the truth. Right now, the U.S. Government is in a financial war, and amid all the propaganda, deception and manipulations of the mainstream media, there’s simply no room for something as big as “the truth.”
But what is the truth, really?
The truth is that you’re watching the boldest, most outrageous swindle that’s ever been conducted in the history of the world.
The truth is that you’re a witness to the last, sad chapter of a military empire that’s fast headed towards financial self-destruction.
The truth is that U.S. debt spending has now entered an escalating geometric progression from which no nation has ever returned in one piece.
Two weeks ago, it was a few hundred billion dollars in fake money and debt spending. This week, it’s been nearly a trillion dollars already. Next week, it may be another trillion. With each passing week, the crooks in Washington will tack on another trillion dollars (or more) to the national debt, like heaving two-ton cars onto the back of a cripple who can barely walk to begin with.
It took the United States of America 230 years to accumulate roughly $5 trillion in debt. Washington has now doubled that in less than 30 days. We now stand at $9.8 trillion in national debt.
With the passage of this financial bailout bill, we will be facing — at minimum — $10.5 trillion in debt. And just to make sure we’re properly drowned in it, Senators are throwing out tens of billions of dollars more to companies that made really bad financial decisions, like Ford Motors, which is one of the recipients in a $25 billion automaker bailout just announced yesterday.
And don’t forget this juicy fact: These financial bailouts aren’t limited to U.S. companies, either! If the bailout bill passed, Treasury Secretary Paulson will have full authority to dish out hundreds of billions of dollars to bail out FOREIGN banks, too!
$10 trillion in debt quickly becomes $12 trillion. Then $15 trillion, then $25 trillion. At some point, it all becomes too absurd to track, because there is no nation in the world that will keep pumping useless dollars down the U.S. government financial tar pit. And that means the U.S. will soon run out of willing lenders, just like the heroin addict who can’t get any more “emergency” loans to go out and buy more drugs.
Even though I know most consumers simply cannot fathom what’s about to happen to them (and their money), I cannot overemphasize this point: The United States government is now on a track to financial annihilation. You are witnessing its suicide march into debtors’ demise. Sure, it may be able to string itself along for a while longer, perhaps by terrorizing other nations and extorting money from them to prop up the empire (read the history of the Roman Empire, folks), but in the end, there is no way out of $10 trillion in debt other than to either declare bankruptcy (at which point nobody will loan you money anymore) or hyperinflate the currency to bail yourself out (at which point the currency becomes worthless and the taxpayers are wiped out).
Take a guess which one your esteemed leaders in Washington are pushing for? It’s the hyperinflation, of course. Because in the end, they’d much rather lose YOUR money than THEIR power.
I think even the Senators secretly realize this now. Behind closed doors, they know the game’s up. This blowout spending spree is their last, desperate chance to bring home a few hundred million dollars to their home states before the federal government becomes completely insolvent. It’s really a financial looting of Washington, and the vultures have moved in now in an attempt to scurry away with all the scraps of U.S. dollars they can carry.
Either way, the U.S. dollar is headed towards rapid devaluation. International investors are either laughing their heads off or shaking them in disbelief, wondering what kind of madness has gripped U.S. lawmakers today, and whether their own nations will be safe from the aftershocks of U.S. fiscal failures.
What to expect in the days ahead
The financial bailout bill will be approved by Congress, then signed by the President. For the subsequent 24 hours or so, the stock market will surge upwards as part of a false rally based on the passage of the bailout bill. During this surge, gold will plummet in value, along with gold mining stocks and other precious metals companies.
After the false high in the markets, investors will come to their senses, and we’ll see the beginning of a long, slow decline in the value of stocks, coupled with an accelerating inflation of the U.S. dollar (which will sap spending power from those holding dollars in savings or retirement accounts). The price inflation of real goods (food, fuel, etc.) will rise at an alarming pace over the next two years, dampening economic activity.
The early months of 2009 will see a wave of post-Christmas bankruptcies by retailers who suffered a terrible Christmas season. (When consumers can’t take unlimited cash out of their homes like they were ATM machines, they tend to spend less on Christmas gifts.)
For more analysis of what’s coming in 2009, join my Mindful Wealth Email List: http://www.naturalnews.com/MindfulWealt…
In any case, the economic outlook of the United States of America won’t be pretty. Burdened with endless debt, unbridled spending and a cascading implosion of financial institutions, the U.S. is almost certain to endure, at the very least, many hard years of a bona-fide economic depression coupled with runaway currency inflation. That’s actually a best-case scenario. I won’t describe the worst-case scenario because it makes people uncomfortable to even fathom such possibilities.
This is what the banking bailout measure will deliver: A decade (or more) of economic struggle, an erosion of the value of the U.S. dollar, and the decline of America as an economic superpower in the world.
The beginning of the end of the American Empire is now upon us. From here, it’s simply a matter of how long its demise can be stalled, and how broke the People will end up before Washington legislators spend every last dollar they can scrounge up and ferret away.
When the music stops, don’t be the one left holding U.S. dollars.
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25 Responses to “Bailout, or Blowout? Financial “Rescue” Plan Turns into Mad Spending Spree”
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October 3rd, 2008 at 10:51 am
Ok, serious question from a naive englishman.
When the doller is worthless due to hyperinflation, that brings other nations economies down to a similar level ok? So i wait for the gold price to drop as said in the article (and hopefully elsewhere) and then put what meagre savings i have into gold (coins) Is that a plan or am I dumbly missing something?
I have no mortgage, have never used credit or any form of interest. I use my bank account purely as a place to put my wealth (i’m a Muslim so i do not give or recieve Usary) but as the IOU banknote paper money system is soon to become worthless, i would be better having REAL money in the form of gold as this will hold its value and is unaffected by inflation etc. Then go emigrate to a country (or planet) where they still carry out transactions in gold and silver OR hunker down with me gold and as many food/medical/weaponry supplies i can untill its all over! Do i have a plan?!
October 3rd, 2008 at 11:12 am
now that the pork is laid up, what is the americans option ????????????????????
http://www.youtube.com/watch?v=razF08A-9Is
October 3rd, 2008 at 11:26 am
Don’t forget de-hydrated milk and heirloom seeds.
October 3rd, 2008 at 11:36 am
this makes me want to crawl in a corner and be ashamed to be called an american.
October 3rd, 2008 at 12:30 pm
We The People have one last chance! We see the Congress going to Bed with Wall Street, right in the open! Both the Senate and the House have passed the Bills 10-3 08/ and the PEOPLE DID NOT WANT IT PASSED!
These Thieves, and Killers are at War with Us!
Are you Ready? You better be: because the War is on…and the Hour is Late!
TOGETHER WE STAND AS ONE…Alone we fall one at a time…
October 3rd, 2008 at 12:34 pm
Americans would be wise now to consider getting out. I did. I know they say “love it or leave it” and I found myself not loving it anymore. I mean….the hyper inflated American ego isn’t going to SURVIVE and that means that these EGOS are going to be on “fight or flight” starting NOW. And you will see how many people you never though would wake up HAVING TO. This is going to create a great deal of cognitive dissonance in the average american idiot. AGAIN, how can i love a country that could have sunk this low and ALLOWED THIS???
America, you deserve the shit you have coming.
October 3rd, 2008 at 1:09 pm
I don”t give a rats ass, if you publish my info, or not. I am not hiding from anyone , or anything. Bring it! I am sick and tired, of the powers that be, thinking they can do anything they want, and answer to no-one. George Bush is the third anti Christ, “in my opinion”. His administration is just as accountable, for standing by, and allowing countless lives, to be sacrificed for their own personal gains. Are we ALL SHEEP!??!! For gods sake wheres the new revolution? SIGN ME UP. Our own government consists of thieves, killers, and rapists. At this very moment ,they are bending us all over for a good screwing!!
October 3rd, 2008 at 1:41 pm
alan, you can buy gold or silver, but just remember that you can’t EAT these things. They would perhaps skyrocket in value for a time, but in this PARTICULAR situation, that time could be VERY short.
The author talks of years, I don’t see how it could be years. King Paulson is now going to spend 10’s of TRILLIONS of dollars within the next MONTH. We are NOT talking about 700 billion. That would be something different and the above author would be correct in his time-frame if that were the case.
The fact is, they pulled 700 billion out of their ass as a “really big number” just to get the point across that this is a big crisis. However, if you read the bill, it gives Paulson the authority to “increase as necessary”. In other words, Paulson has a blank check BOOK, not a blank check.
Compared to paper, of course you should pursue a precious metal. But you may only have a few months time to trade it for “money” and in turn trade that for some THING.
October 3rd, 2008 at 1:43 pm
you know ive been watching this web site for well over a year now and everything alex jones has said has come true. Now we can come to this web site every day and leave our little $0.02 comments our we can act now and stop this shit… END GAME is coming there is no more time left for talk the revolution is now, we need to use forms like these to get together and plan our take over. ITS TIME, who is with me?
October 3rd, 2008 at 2:07 pm
another success for the damn NWO!.. what the hell is wrong with these people.. there are some intelligent people in congress but of course they have their price.. i would help revolutionize AMERICA and take our power back.. I fear though that not enough are going to battle the NWO, and this all may be hopeless.. and yes ENDGAME is almost here.. he he .. (snickering from these punks) let’s try and pull mental mind games with the citizens and change the name bailout to rescue.. YOU ONLY RESCUE THE ONE’S WHO NEED SAVING>> apparently that is the people researching WOOL!!!… yeah .anyone who thinks this was needed or our only hope has got the be the sheep.. a completely dumbed down moron!!!!
WAKE UP PEOPLE THIS SHIT IS REAL!!!!!!!!!!
October 3rd, 2008 at 5:01 pm
What you would expect from a member of congress:
“Holy Crap! Our nation is going to financially collapse if we don’t pass this rescue bill. Credit will freeze, consumers will stop spending, businesses everywhere will fail, most families will be homeless and without money to buy food. There will be rioting in the streets and our nation will surely fall within a few short years! My god! We must concentrate on getting this bill passed and then fix the problem by reforming our debt based money supply.”
What the members of congress actually say:
“Bingo! A piece of legislation that absolutely must pass come hell or high water. Sweet glory! I’ll be able to insert whatever ridiculous government spending I please into this legislation and most of congress will vote for it because they don’t dare vote against our Masters’ wishes. My campaign contributors will be so happy with me for swindling their share of the pie. I wonder if they’ll treat me to another night out at the whorehouse.”
How long are we going to put up with this madness? This system is senile. These politicians are disgusting.
It’s time to completely fumigate Washington DC. Time to replace this entire system:
http://www.youtube.com/watch?v=73×8uOXQjag
October 3rd, 2008 at 8:37 pm
check out this site legal proceedings against bush http://charlottedennettforattorneygeneral.com/ she will prosecute bush. also http://www.donaldtrumphair.com and http://www.thepentacon.com
October 3rd, 2008 at 11:13 pm
dont you guys get it? we are insignifigant and they are no longer scared of being replaced so long as they dont have to face the wrath of thier ’superiors’. Helping criminal leaders is their creed and they want to be bossed, they truly do not know any better since their rulerships are based on leading with an iron rod (biblical? perhaps). In their perspective, it is supposedly an all too clear of a path but in reality it is a false sense of righteousness. They are gearing up for a line of rulers the likes of which is reminescint of Nimrod.
They will come full circle as history repeats itself, kabbalah will take the place of nemoramus. Jerusalem will someday be a world capitol regardless of the unions that will be in place. The roman catholic church whose funds are overseen by rothschild will come full circle with their worthship pre-constantine.
October 4th, 2008 at 9:41 am
its time to start killing politicians who have betrayed the constitution, who have sold out america for their banker buddies, our founding fathers would of hung george bush and the rest of his cronies a long time ago. Americans are cowards thats why we are in this position, we forgot what we had to do to start america and its about time we realize who we are gonna have to kill to take america back. if your not willing to kill you shouldnt even be posting
October 4th, 2008 at 9:46 am
This is going to be first of many bailout to come. Today it is 700 billion. Again when Wall Street is in trouble there will be another bailout – it will go on forever. But if I lose my job, everything I have is gone, my boss is never going to rehire me to bail me out, he will not care about my plight is uncaring inhuman son of a bitch who will want the government to save his business but he does not want to give me back the job I had.
October 4th, 2008 at 10:31 am
This was all in the illuminati/global elite plan. Remember Germany folks. The financial portion of their agenda pales in comparison to the rest. Search these and find evil beyond belief. Strange days strange skies willthomasonline.net uaff.us and check out my chemtrail photos. I am now under constant surveillance haarp weatherwars lyme and plum island monsanto and roundup resistant crops seed vault in norway and plans to control countries with food crops airforce document owning the weather by 2025 -they play god with our weather stevequayle.com whatdoesitmean.com for the real news. Finish the truth journey with the book 2008 Gods Final Witness by Ronald Weinland. Godspeed and blessings, Pamela………..one of the remnant………………………………..oh read the book of Enoch as it was hidden because it was written for believers facing the tribulation, Enoch was Noah’s Grandfather and explains a lot.
October 4th, 2008 at 1:01 pm
Thanks for your replies, I will add food, non hybrid seeds, crossbows (were ‘not allowed’ guns in Britain and i have no idea to get one other than a shotgun), Dosemeter, Rad meter etc…
October 4th, 2008 at 5:14 pm
Spend spend spend. !! spend spend spend. !!!. If goverment keeps spending there is no way out the global inflation. !!!
to stop it we need the people to PRODUCE MORE. and the goverment to SPEND LESS. those are the two steps forward. !!!.. or its lost. !!
But hey it wont be lost it will be won. by the Federal Reserve, and that small group that has been planing so far to conquer the world. !! yes pinky brain is not that stupid. !!!..
October 4th, 2008 at 10:25 pm
crippled object….Im on, what are your thoughts?
October 5th, 2008 at 3:47 am
http://ca.youtube.com/watch?v=Vv3yuRdD2oE
October 5th, 2008 at 10:25 am
http://www.youtube.com/watch?v=vPS7ksrKk8Y
October 5th, 2008 at 6:52 pm
The reality we have now is that of A CLEAR AND PRESENT DANGER of a domestic enemy within our ranks that MUST BE HELD ACCOUNTABLE AT ALL COST.
The uniform code of military justice has provisions for this and Must be addressed; to do less is the purest form of sadistic TREASON at best. This is what men of courage must face and confront A.S.A.P. before it is to late. You see, just like all criminals, if they think that the jig is up then they will start getting dangerous and that is now what’s starting to happen !
October 5th, 2008 at 7:06 pm
Alan Cotterill, you may also want to add a gas mask to your collection. Those mainacs are also hell-bent on a pandemic too. They have struck out with advanced flu strains, West Nile Virus, and Bird Flu. As I understand, they have huge plans for depopulation also. I’m assuming you’re in GB, so you may YouTube search FEMA camps and study up as they probably have the same plan in Europe.
The Centers for Disease Control have HUGE stores of just about every type of vermin known to man (including the ones they deemed ‘banished’). Why they need thousands of gallons of ANY disease is beyond me, but it’s there just waiting to be knocked over and spilled into the air.
October 6th, 2008 at 5:46 am
“If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson
Never vote for Republicans or Democrats. As long as you do nothing will change and they will keep selling us out. Vote Libertarian instead. Or just boycott our fake elections filled with intentional fraud:
http://www.bradblog.com/
October 6th, 2008 at 8:06 am
“They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason”
http://www.youtube.com/watch?v=uw5dP5gy2Vs
–The Cornbread Mafia