The Great American Financial Crisis

The absurd practices of Wall Street, lose laws on creating derivatives, and the Financial Guarantee industry plunged the nation and the world in 2008 into our worst recession since the Great Depression. Passage of the TARP (Troubled Asset Relief Program) estimated to cost $890 billion during the last months of the George Bush Administration and subsequent legislation enacted throughout the Barak Obama Administration costing approximately $3 trillion stopped the recession, and set the stage for steady job and general economic growth. The Federal Reserve played a large role in making it all possible. Not only did it keep interest rates low, but also kept enough money in circulation and further provided a source to purchase bonds sopping up the mountain of debt created by the rescue. But, there Is more to come; more challenges to our Life, Liberty and the Pursuit of Happiness! Here are some:

1. The unbridled debt of the United States Government!

The current United States Federal Government deficit is $22.4 trillion and the recent 2017 Tax Law change creates even more. Deficit estimates for the law made by the Committee for Responsible Federal Budget, a non-partisan group and Politico News range between $2.3 and $5.5 trillion. Everyone agrees that the continued rise in the deficit will destroy our nation. The problem has been caused by two factors: A) We do not tax responsibly. Taxes must be less regressive and apportioned on wealth, and B) Special interests are steering the direction of the expenditures, which reduces the benefit to the general public. This must stop, but blind budget chopping won’t work.

2. Foreign Ownership of the U.S. Public Debt

As of the End of December 2018, 40% of the U.S. Public Debt was owned by foreign governments, foreign individuals, and foreign organizations. Many times, foreign central banks of governments with which the U.S. also has an unfavorable trade balance, buy our debt, because they don’t have anything else to do with their dollar reserves created by the unfavorable trade balance. So, presently the largest U.S. trade imbalance is with China. Thus, China controls $1.12 trillion of U.S. debt. China’s refusal to continue buying U.S. debt could cause huge financial problems in the United States. China also continues to buy U.S. debt to keep the value of the dollar high so American goods will cost more in China. We cannot allow foreign nations to control the destiny of the United States in this manner.

3. Confiscation of the Homesteads of the poor and middle class!

Ever since the establishment and rise of the Communist Party in the United States, Americans have been taught that Communism and Socialism will create a condition where the government owns and can take your possessions. Americans were told to hate Communism, but at the same time, they couldn’t see that our government had incorporated the basic principle of state ownership into our so-called democracy. Americans work and slave most of their lives to own and possess a home. For the poor or middle class who can afford it, it is their largest single asset. Yet, even if you have paid off your mortgage, and you fall on hard times, our allegedly non-communist, capitalistic government comes and takes your home if you can’t pay your property taxes. Yes, our government uses the most regressive form of tax to take the largest asset from the poor and middle class! If you can’t pay your $5000 property tax bill for one year, your home is gone! Isn’t that the hallmark of Communism?


Senator Yee Arrested Senator Yee Arrested
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Vernon Buchanan Vernon Buchanan
Blagojevich Blagojevich
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Corrupt Politician Corrupt Politician
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We Need Minimum Prison Time for Corruption!

Section 4. No person occupying an elected or appointed public office, any employee of the same or members of their immediate families shall accept any form of gift or anything of value that is related in any way to the discharge of their public duties. No person, partnership corporation or entity of any kind shall offer any gift, gratuity or anything of value or promise any future reward, position or favor to any person holding public office in any capacity including, but not limited to elected or appointed official, employee, agent or contractor or their family members. Any violation of this provision shall be classified as a betrayal of the public trust and considered a felony. The minimum sentence for conviction shall be five years imprisonment. Any person convicted of this crime shall be ineligible to hold public office for a period of ten years following conviction. Any person found guilty of giving gifts, gratuities or anything of value contrary to the provisions of this section shall pay a minimum fine equal to twenty times the value of the gifts, gratuities or valuable consideration offered.

Here Are Some Ways to Change Our Government


Lobbying is a critical process of giving voice to the government to create laws and programs that are focused on the welfare of a great number of people, especially the minorities. Lobbyists work night and day to ensure the passage of a law protecting a particular group of people or political ideology, such as the … Continue reading