I don't think for myself in any way, shape, or form. I'm proud of it! I put everything in the hands of God and He guides me. I have confidence in His plan for me.
I've been reading your posts the past few weeks... and there is nothing you've posted that is more profound than the above statment. I really believe you don't have a CLUE on how or what the Feds do, or the impact the U.S. financial crisis has on the entire global economy, or how the economy operates, or who controls what, when and why.
Just for a quick fed hx lesson for you... Government interventions have occured many times in recent history where there has been a crisis that would have such such crippling impact of major proportions on the financial markets:
1. S&L bail out of $500 billion (yes that is 500 hundred!!!) in 1989.
2. Loan Guarantee of $250 million to Lockheed Aircraft Corp. in 1971
3. Chrysler Corp in 1979 of $1.2 billion
4. Post 9/11 Loan Guarantees and bailout of $10 billion to the airline industry (if you are part of this industry, consider yourself SAVED by the FEDS).
Government interest was well protected in these rescues, and the tax payers didn't lose
With regard to the AIG rescue, without the FED involvement (cause the private financial institution just didn't have the money to lend to AIG) literally thwarted a spiral that would probablly have such horrific impact on world markets beyond anything anyone could imagine.
The AIG fed rescue is a LOAN...24 month loan, which includes 8.5% ABOVE the normalinstitution lending rate, conditional with AIG selling off assets in an orderly fashion to repay, which means AIG will have to shrink.
Tax payors have been well safe guarded and it is projected that the FEDS (taxpayors)will probably see a return of profit on this particular loan.
I have confidence in God's plan for you and pray that GOD gives you an epiphany in economic education and a needed lesson on how important oversight and transparency which does include some stict gov. regulations to balance out a capitalistic system that
runs a-muck from time to time.
As far as the U.S. government...there is no finer institution. Why? Because there is transparency and major oversight. Major checks and balances within this system. Government maybe be burocratic and large (different argument), but there has never been ANYTIME in history since the establishement of social security in 1940 and medicare that any eligible retiree has ever missed a gov issued SS check or medicare reimbursement; not once, ever!!! After all, the government IS for the people, by the people and from the people.
