False Hope for Americans' Financial Future

As the stock market index improved in late April 2009, media people forecast that the worst was over. It may be for the financial people who plunged, by their reckless self-interest speculation, the United States and then the world into financial chaos approaching that of the great financial depression of the 1930s. But the glimmer of hope was one sided. For instance:

• Much of the trillion and more of borrowed taxpayers' money was used for AIG and other financial houses to pay off the speculators, some of whom had no financial money invested except for the small amount used to speculate on the condition of other financial companies. And some of those companies that they sought insurance protections were companies that the speculators, by their wild speculation, caused the companies to plunge in value. So, the American public−more aptly identified as a feeding trough for every con artist−paid for these practices.
   
• For the American public, these are the conditions that insures for many a lifetime of poverty and the related personal tragedies:
   
  •  Continued decrease in the value of homes and resulting foreclosures.
     
  • Continuing increase in the percentage of homes in which the existing loans are more than the market values, in which more people will walk away from the properties, which will cause a continuing plunge in the market value and salability of the houses.
     
  • Increase in the defaults of overleveraged buyout firms, such as what happened to Mervyns. Financial con artists took over viable companies, saddled them with huge loans so as to pay themselves huge profits, with the expectation that in any slowdown in the economy the businesses will fail, putting still more people out of work, many of whom will then lose their homes.
     
  • Increase in the number of defaults in commercial properties.
     
  • The continuing default in paying credit cards, some of the defaults arising from the predatory increase in interest rates and other obscene charges.
     
  • Increasing number of unemployed people, with the snowballing effects.
     
  • The eventual financial problems from a possible withdrawal of the trillions of dollars loaned to the United States by communist countries. (Remember the hysteria by U.S. politicians about the dangers that Communist forms of government constitute!!)
     
  • The withdrawal of previously loaned money, and the failure of other financial countries funding the huge bail outs for the financial sectors, could very well bring about conditions worst than the 1930's financial depression, under which this writer grew up.
     
• Paradoxically, virtually no protests from the American public. This is partly due to the fact that unlike other protests, this requires serious reading and understanding of how the public continues to be taken.
   
• The details of how the American public has been repeatedly subjected to financial scams for the past 30 years, see America's Housing and Financial Frauds, available at amazon.com, and which is periodically updated to the continuing hoaxes played upon the gullible American public. More information at www.defraudingamerica.com.

Sampling of Financial Crisis Yet to Be Felt by the
Blissfully Unconcerned American People

Yet to be felt and the basis for major financial problems are such matters as:

• The reported four trillion dollars (or more) of money borrowed to pay for the Afghanistan and Iraq wars, for which no payments have been made, and upon which must be added a trillion or more in interest payments. Were it not for those costs—supported by most Americans—personal safeguards such as Social Security, Medicare, upgrading of decaying infrastructure, ample jobs, would not have suffered as badly as it has and will.
   
• Blooded government union personnel pensions, which were provided by politicians seeking the large vote of government personnel—who knew they were pressuring or black-mailing the politicians, will bring about bankrupt-like conditions that must be paid by the public that was taken by the politicians and government employee pressure.

Among the "Least" Guilty of the Enablers

Euphoric Blissful Ignorance−It Feels so Good—Enablers of Great American Tragedies

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