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"Burning Down The House: What Caused Our Economic Crisis?

Published:

Quickly explains our current monetary problems.  Pretty good music too.

_______________________

 

"Burning Down The House: What Caused Our Economic Crisis?

http://www.youtube.com/watch?v=H5tZc8oH--o

Entry #860

Comments

1.
jarasanComment by jarasan - September 26, 2008, 8:40 pm
Thank You. This might make some peoples' heads explode! I will be emailing this link to at least 75 people. It is fast but the facts are facts and they are all right in front of your face, no BS, none.
2.
JAP69Comment by JAP69 - September 26, 2008, 9:02 pm
Great post Konane.
The paper trail provides the evidence.
3.
konaneComment by konane - September 26, 2008, 9:29 pm
Thanks Jarasan and JAP!!! Credit to Drudge for the link. And yes very fast, cramming in the whole convoluted paper trail back to its corrupted inception AND blocking legislation designed to stop the avalanche.
4.
JAP69Comment by JAP69 - September 26, 2008, 11:19 pm
How come I see 4 comments before I posted this and I only see 3 comments?
5.
ToddComment by Todd - September 26, 2008, 11:21 pm
Thanks for posting this.

And what is the driving force behind of all the things outlined in the video?

Class warfare, used as a wedge and a tool to divide the country, and to form a breeding ground for hatred that will ensure that the elites stay in power since constituent voters will never be willing to vote for the other side.

It is the antithesis of knowledge, logic, reason, and common sense -- all things that are required in order to bring about reform that benefits common everyday citizens.
6.
four4meComment by four4me - September 27, 2008, 2:01 am
I only did about 3 minutes of the video and i already know all this stuff. Americans watched it all unfold and did absolutely nothing about it. I told people years ago when the banks were giving out these mortgages that it would eventually collapse. You cant lend money to people who's income to debit ratio is to high but the banks did. I blame both.... the people who sought the loans and the banks for lending the money to folks they new couldn't afford to pay off the adjustable mortgage loans..

I saw people buy houses in the upper 250,000 to 350,000 dollar range and they were no where near able to afford this kind of mortgage. Had no additional funds to cover sickness or any other kind of problem. Almost every cent they earned went to pay the mortgage with barley enough left over to live on. How ridiculous is that.

I also asked people who are these people buying these 250,000 dollar and up homes they all cant be doctors, lawyers, and engineers. In fact most weren't. Doctors, lawyers, and engineers were buying 750,000 dollar and up homes.

Before all this happened back in the early 90's i went to buy a new truck and the finance officer told me the truck i wanted was out of my pay scale range in other words i didn't earn enough to be able to afford it. He said my debt to income ratio level was to high, in the event of loss of work even just two weeks would put me in a terrible predicament. I had good credit, work history every thing was ok except my income level. At first i wanted to protest but after thinking about it decided on a lower cost vehicle.

Why didn't the banks that offered these outrageous mortgages do the same to the people who wished to buy these high cost homes = check financial records, work and credit history. MONEY it was always about the money the banks thought well if they cant pay will foreclose and sell the property at a profit. Oops that didn't work because as the foreclosures rolled property values also plunged.

This is mostly the banks fault for not following protocol they always did in the past. Never loan money above and beyond what a person can afford to pay back over a given time frame based on work history and income levels.
7.
colthmnComment by colthmn - September 27, 2008, 2:49 am
SAD!!!
8.
konaneComment by konane - September 27, 2008, 9:43 am
Thanks Todd, Four4me, Colthmn!! The media loves sound-bites which inflame emotion placing them (the press) as having the only answer to what people are conditioned to want to hear. They seem to view us all as Pavlov's dogs reacting as their Marxist puppet masters tell them how to program us. That's why I "affectionately" call them the re-education machine. Worked for Mao but that was a different era without computers.

Lots went on behind the scenes when Clinton took office. One was legislation (believe in 1994) which allowed businesses to overstate assets and revenues .... which caused massive bankruptcies we saw around year 2000 and after.

Well orchestrated Marxist plan to collapse our economy so the almighty government has to take over all businesses ... very clear to me, should be to everyone else. Total financial collapse = ultimate goal. Bet they're all in ecstasy right about now, visions of the old USSR dancing in their minuscule Borg brains.
9.
konaneComment by konane - September 27, 2008, 11:14 am
This is definitely not for speed scanners or people who parrot sound bites. Shows implemented intent we're now seeing the results of.

Makes much more sense for people to study Law of Attraction, other empowering materials in order to create for themselves ... rather than give away personal power to a government to take from others. Class warfare = fomented jealousy sitting on your head plopping down your neck.

Since this financial collapse has been orchestrated over time, felt these quotes were relevant.
________


" SOCIALIST AGENDA PROMOTED IN CONGRESS
WorldNetDaily    7/22/99     J R Nyquist "… I first heard of Bill Clinton 16 years ago. Here is how it happened. I was getting a teaching credential, and one of my classes was on adolescent psychology. The professor in this course, who was a very admirable teacher, seemed to favor me. One day, after class, she invited me to a 7 p.m. meeting at the Science Lecture Hall. At the time I didn't know she was a Marxist, and I didn't know the meeting would be political. She said that if I cared about education in the state of California I would attend. Having the night off from work I decided on going, partly owing to curiosity. Well, I couldn't have been more surprised if it had been a coven of witches. Arriving early at the Science Lecture Hall, I found communist literature -- books and pamphlets -- stacked on tables in the lobby. A visiting professor was the speaker. He gave a rousing talk on overthrowing the "dictatorship of the bourgeoisie" in America. How would this be accomplished? By taking over the Democratic Party through its left wing. The speaker said it was possible to elect a stealth socialist president, who would effect a peaceful transition to socialism during the next great economic down-turn. Capitalism would be unmasked as a bankrupt system. The people would then support a new socialist system. All businesses would be nationalized by the government and run like the Post Office. This socialist president, said the speaker, could be elected in either 1988 or 1992. The only problem was that of timing. When would the next major economic downturn hit? Some days later I went to visit my professor at her office hours. We talked about the speaker and the book he had written. We talked about Marxism and the idea of changing the system. Then, suddenly, my professor said: "We have such high hopes for this young Arkansas governor, Bill Clinton." That was the first time I heard Bill Clinton's name. …"

WorldNetDaily 7/22/99 J R Nyquist "… But it wasn't the first time I'd heard this idea of taking over the left wing of the Democratic Party and electing a stealth socialist president. I'd first heard that idea in 1981, when I was a senior at the University of California. The left wing activist, Derek Shearer, came to speak on the subject of "economic democracy." Two radical friends of mine dragged me to hear him, though I had my heart set on a game of chess that day. So I went to listen to Shearer's talk, and I sat there in the front row, concentrating on his theory of "economic democracy," thinking to myself: This is just like Marxism. After Shearer finished speaking I went up and asked him, point blank. "Mr. Shearer, what is the difference between Marxism and "economic democracy"? He looked at me a bit suspiciously for a second, then he said, "I probably shouldn't say this, but there is no difference." I had a long discussion with Shearer about why he wasn't a forthright Marxist. He said that Marxism was unpopular with the American people, who have a knee-jerk negative reaction to words like "socialism" and "communism," even though -- according to Shearer -- these are perfectly good words. Therefore, in order to win Americans over to socialist ways of thinking, you need to create a new, euphemistic language -- a kind of linguistic deception. Shearer also talked about taking over the Democratic Party through its left wing and electing a stealth socialist president. As it happens, Derek Shearer is a friend of Bill Clinton….."


............... "

SOCIALIST AGENDA PROMOTED IN CONGRESS

THE WASHINGTON TIMES    11/10/98     Greg Pierce ".As the House Judiciary Committee debates whether President Clinton committed an impeachable offense, it's worth noting the company kept by some of his most outspoken defenders. Balint Vazsonyi, the Hungarian emigre classical pianist who is prodding conservatives in the Republican Party through his writings and speeches, was surprised to discover five of those Judiciary Committee members on the Web site of the Democratic Socialists of America. The DSA is "the principal U.S. affiliate of the Socialist International." Listed among the 58 members of the House Progressive Caucus, proud promoter of the DSA's "Progressive Agenda," are Democratic Reps. John Conyers Jr., the committee's ranking minority member, Barney Frank of Massachusetts, Maxine Waters of California, Robert C. Scott of Virginia and Jerrold Nadler of New York..So while the House Judiciary Committee wrestles with the process of impeachment, perhaps the greatest demand the Constitution makes of legislators, Mr. Vazsonyi points out, they are aligned with a political philosophy at odds with that Constitution. "The rule of law is essentially neutral," says Mr. Vazsonyi, who grew up under the national socialism of the Nazis and later the Communists. "Socialism removes the blindfold and makes law the servant of its political agenda."."

The following are members of the House Progressive Caucus which promotes the Democratic Socialists of America's "Progressive Agenda:" DSA Home Page dsa@dsausa.org

Rep Earl Hilliard (AL-07)
Rep Eni Faleomavaega (AS-AL)
Rep Ed Pastor (AZ-02)
Rep Lynn C Woolsey (CA-06)
Rep George Miller (CA-07)
Rep Nancy Pelosi (CA-08)
Rep Fortney "Pete" Stark (CA-13)
Rep Henry A. Waxman (CA-29)
Rep Xavier Becerra (CA-30)
Rep Julian C. Dixon (CA-32)
Rep Esteban Edward Torres (CA-34)
Rep Maxine Waters (CA-35)
Rep George E. Brown (CA-42)
Rep Bob Filner (CA-50)
Rep Diane DeGette (CO-01)
Rep Eleanor Holmes Norton (DC-AL)
Rep Corrine Brown (FL-03)
Rep Carrie P. Meek (FL-17)
Rep Alcee L. Hastings (FL-23)
Rep Cynthia A. McKinney (GA-04)
Rep John Lewis (GA-05)
Rep Neil Abercrombie (HI-01)
Rep Patsy Mink (HI-02)
Rep Jesse Jackson (IL-02)
Rep Luis Gutierrez (IL-04)
Rep Danny Davis (IL-07)
Rep Lane Evans (IL-17)
Rep Julia Carson (IN-10)
Rep John Olver (MA-01)
Rep Jim McGovern (MA-03)
Rep Barney Frank (MA-04)
Rep John Tierney (MA-06)
Rep David Bonior (MI-10)
Rep John Conyers (MI-14)
Rep Bennie G. Thompson (MS-02)
Rep Melvin L. Watt (NC-12)
Rep Donald Payne (NJ-10)
Rep Jerrold Nadler (NY-08)
Rep Major Owens (NY-11)
Rep Nydia M. Velazquez (NY-12)
Rep Charles Rangel (NY-15)
Rep Maurice Hinchey (NY-26)
Rep John LaFalce (NY-29)
Rep Marcy Kaptur (OH-09)
Rep Dennis Kucinich (OH-10)
Rep Louis Stokes (OH-11)
Rep Sherrod Brown (OH-13)
Rep Elizabeth Furse (OR-01)
Rep Peter A. DeFazio (OR-04)
Rep Chaka Fattah (PA-02)
Rep William Coyne (PA-14)
Rep Carlos A. Romero-Barcelo (PR-AL)
Rep Robert C. Scott (VA-03)
Rep Bernard Sanders (VT-AL)
Rep James A McDermott (WA-07)

http://alamo-girl.com/0341.htm
10.
time*treatComment by time*treat - September 27, 2008, 11:48 am
All that is required for evil to triumph... (they have done a fine job of taking over the 'right', too)
'guest worker program', 'undocumented alien', people who want to defend their borders and even their private property are 'vigilantes'.
11.
konaneComment by konane - September 27, 2008, 1:30 pm
Thanks Time*treat! Very well stated indeed!!!
12.
jarasanComment by jarasan - September 27, 2008, 6:43 pm
Sarbanes Oxley should be repealed, this punishes all American business because of the criminality of a couple. Apparently the accounting requirements for going public are ridiculous, an avg. annual cost of $3Million and instead of 3-5 years to go public, it now is taking 10-12 years, the law passed in 2002...................seen any IPOs lately?

http://www.soxlaw.com/

Killing American business.

13.
konaneComment by konane - September 27, 2008, 9:06 pm
Thanks Jarasan! Read the same thing, get rid of cumbersome laws which retard business start-up and growth, then repeal the ones which allow them to overstate their assets and revenues. Totally eliminate capital gains taxes which have had a very greatly diminishing effect on American enterprise since the late 80's. Enact the Fair Tax so business don't have to keep up with so much paperwork.   ..... Simplify.
14.
jarasanComment by jarasan - September 27, 2008, 9:52 pm
Concerning the socialists/commies of the Dem. Party they should be called as subversive to the Democratic party and should be ejected. I wonder if there are any in the Senate?
15.
konaneComment by konane - September 27, 2008, 9:57 pm
Thanks Jarasan more than likely there are as the goal was to infiltrate both parties. From this list sounds like they're achieved most of their stated goals as America was lulled into complacency by PC.


......" From Freeper exton1: Former FBI agent, Cleon Skoussen, in 1958, in his book, THE NAKED COMMUNIST, revealed among other things, these long term goals of the communist agenda. The information is in the Congressional Record August 1963 and in the Communist Manifesto:

U.S. acceptance of coexistence as the only alternative to atomic war.
Develop the illusion that total disarmament by the U.S. would be a demonstration of moral strength.
Permit free trade between all nations regardless of communist affiliation and regardless of whether or not items could be used for war.
Provide American aid to all nations regardless of communist domination.
Set up East West Germany as separate states in spite of Khrushchev's promise in 1955 to settle the German question by free elections under supervision of the U.S.
Allow all Soviet satellites individual representation in the United Nations.
Promote the United Nations as the only hope for mankind. If its charter is rewritten, demand that it be set as a one-world government with its own independent armed forces.
Resist any attempt to outlaw the Communist Party.
Do away with loyalty oaths.
Capture one or both of the political parties in the U.S.
Use technical decisions of the courts to weaken basic American institutions by claiming their activities violate civil rights.
Get control of the schools. Use them as transmission belts for socialism and current communist propaganda. Get control of the teachers associations.
Gain control of all student newspapers.
Infiltrate the press. Get control of book review assignments, editorial writing, policy-making positions.
Gain control of key positions in radio, TV and motion pictures.
Eliminate all laws governing obscenity by calling them censorship and a violation of free speech and free press.
Break down cultural standards of morality by promoting pornography and obscenity in books, magazines, motion pictures and TV.
Present homosexuality, degeneracy and promiscuity as normal, natural and healthy.
Infiltrate the churches and replace revealed religion with social religion. Discredit the Bible and emphasize the need for intellectual maturity which does not need a religious crutch.
Eliminate prayer or any phase of religious expression in the schools on the grounds that it violates the principles of separation of church and state.
Discredit the American Constitution by calling it inadequate, old-fashioned, out of step with modern needs, a hindrance to cooperation between nations on a worldwide basis.
Belittle all forms of American culture and discourage the teaching of American history on the grounds that it was only a minor part in the big picture.
Eliminate all laws or procedures which interfere with the operation of the communist apparatus.
Eliminate the House Committee on Un-American Activities.
Discredit the family as an institution. Encourage promiscuity and easy divorce.
Emphasize the need to raise children away from the negative influence of parents.
Create the impression that violence and insurrection are legitimate aspects of the American traditions; that students and special interest groups should rise up and use united force to solve economic, political and social problems. "..................
http://alamo-girl.com/0341.htm

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