Is our Banking System on the Verge of a Total Collapse?
I am not much of a conspiracy theorist but no matter how I look at this latest calamity it leads me to believe we have been set up on a grand scale. Exactly who all is behind it is not clear to me but I am certain it is by design or default at some level. Whether it happened as an act of commission or omission is beside the point. It's here now and we must deal with it but not the way our government is going about it.
I just don't buy the notion that things just got out of hand due to circumstances beyond our control. How can a crisis of this magnitude just sneak up on us? How many times does this have to happen before we learn our lessons? Was it not just 20 years ago when the S&L crisis and its eventual bailout cost the American taxpayers over $600 billion? Mark my word. This bailout will cost us over 3 trillion dollars! And one more thing. There may not be anything left to bailout anyway, as I foresee a possibility of a total collapse of our banking system in the very near future.
But wait! While this is bad for a lot of people and that's unfortunate, I feel excited about the prospects. For the next 2 years we get to buy a lot of properties at deep discounts. We'll flip some to be sure but we should also consider holding some as cash flow properties. This way, you get to set yourself up for life. And this is not a wishful thinking but a fact!
I for one do not support the bailout. Not only will it drive us one step closer to a socialist system but it will not handle the cause of our sickness. It only addresses the symptoms which will again emerge under a different disguise in another 20 years or so.
The natural cycle of learning responsibility begins with suffering the consequences of our actions. When we keep interfering with this cycle by bailing out these greedy vampires every time they make a "mistake", we are encouraging them to do it all over again while condemning the entire country to a life of misery. What we should do is allow the cycle to complete itself while we weed the garbage out of our system. Put all who caused this mess behind bars, seize their Swiss bank accounts and teach a lesson to the rest of those corrupt individuals getting poised to do it all again in the future.
Let me ask you this. If you kept bailing out your children well into their adulthood, what kind of people do you think they'll turn out to be? Answer: irresponsible, greedy, weak minded and incompetent. And is this not exactly what we have produced so far? I say enough is enough!
Besides, I am not convinced we'd be better off with a bailout. Frankly, I don't believe a word that comes from our lawmakers or the media. It's all fear based because they know we respond to fear. We're buying worthless papers at face value and it's supposed to be good for our economy? I know it might be tough for a while doing it the right way but we have to try for once before dismissing the idea as potentially catastrophic. I bet you life will go on as usual while the system makes the necessary corrections and before you know it we will have restored sanity to our system.
While we're on the subject of helping our economy, why not set aside $100 billion for real estate investors to borrow money at reasonable rates? They can come in with 20% down, buy wholesale, fix and then sell them at affordable prices to homebuyers who can truly qualify for them. And why not change the foreclosure laws to make it easier for investors to buy this massive inventory and allow the economy to recover naturally? Why do we have always save the fat cats who have repeatedly proven their greed and incompetence?
I know we can come together as a great nation and pull out of this mess the right way, by paying the price for our mistakes. This would also sharpen our senses so next time we won't allow these heartless monsters to take advantage of us.