The worldwide economic collapse...is not here yet!

J. James Estrada has been commenting on all the right things in politics since joining the Republican party during the years of the Reagan Administration.


The worldwide economic collapse...is not here yet!
July 14, 11:18 AM

Barney FrankBernie Madoff begins his federal prison sentence today. That’s good. Madoff ripped off a multitude of investors to the tune of $50 billion. He was found guilty of his crimes in court and he will now pay by spending the rest of his life behind cold steel bars. Again, that’s good. And what’s good for Madoff should be good for the perpetrators of the sub-prime lending mess. So why are Barney Frank and Chris Dodd still in Congress?

Back in the 1990’s, Frank, Dodd, and a host of others within the Clinton administration, set off this ticking time-bomb by forcing banks to make loans to those they would not ordinarily loan. That is, to those who could not pay the loans back. The politicians, through their experiment in social engineering, rolled a moneymaker down Wall Street and the money guys went along for the big bucks. Well, the buck has stopped here.

With the election of President Obama, America was set to punish those who caused this financial crisis. However, instead, America has set a knife to the neck of its wounded body, not realizing that they have empowered the enablers.

Al Queda tried to place the country in this peril with the 9/11 attacks. But the Bush tax cuts caused a swift recovery to occur. Remember that the Dow reached over 14,000 in Bush’s second term? True, Bush was duped in 2008 with “bailout” fever, but the genesis of the economic landslide began during the heady days under Clinton.

As Bush proved, as did Reagan before him, the remedy to economic malaise is government getting out of the way of American ingenuity. Obama, though, is not getting government out of the way. He is setting government squarely in the way and building a dam to hold back recovery. In this way, he is not “wasting a good crisis,” and is moving to reshape America into a socialist’s paradise. But America will not be held back. A flood is coming that will smash the hopes of the comrades building this foolish bridge to the old Soviet Union.

If the flood does not come, then you will see a real worldwide economic collapse.