Congratulations Congress. We are on our way to government foreclosures, richer tycoons and a mafia style, government run economy where your credit score is officially more valuable than the amount of money you have in the bank.
The most important thing to remember in all of this is that Congress decided debt is good for America. I suppose we shall now be scorned for paying cash. It has officially been declared that the US economy cannot operate without debt. It’s only a matter of time before foreign investors own all this debt through the international banking cartels and ultimately they will own the majority of US assets. What are we going to do when they decide to foreclose?
Now, sit back and watch the economy slide. The legislators will proclaim that they did all they could. Banks will continue to fail, loans will continue to default and jobs will continue to be lost. Why? Because today we sold the first pieces of the free market to the government and there has never been any clear correlation as to how this action will effect the micro economy.
The US House of Representatives and US Senate just decided a debt driven economy is the best thing for America. You will all soon learn how bad debt is. The depression accelerator switch has just been flipped. It won’t be a physically strenuous ride. It’s all down hill.
And uh Congress, thanks again for looking out for the will of the people.