Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:
Obama Team Unveils Newest $1.1 trillion Hedge Fund Subsidy. Within the same week as he signed off on the $787 billion American Recovery and Reinvestment Act, President Obama’s team unveiled a new $1.1 trillion plan to subsidize hedge fund investments. The goal is to get the consumer loan securitization market working like it did leading up to the financial crash last year. In the plan, the Treasury would provide up to $100 billion, and the Federal Reserve will print up to $1 trillion to provide loans to investors to acquire consumer-debt collateralized securities. Investors will only have to put down between 5% and 16% of the capital necessary to buy bonds backed by auto loans, credit card balances, student loans, and small-business loans. Government loan rates would range between 1.5% to 3%.
Canada Worried that U.S. Stimulus Bill will Spark Retaliatory Trade War. Canada’s International Trade Minister, Stockwell Day, voiced concern over the “Buy American” clauses in the American Recovery and Reinvestment Act (“Stimulus” bill), comparing them to the infamous Smoot-Hawley Tariff of 1930. The 1930 tariff was so severe that it sparked an international trade war that crippled commerce and sent unemployment rates soaring to double digits throughout the world.
Some GOP Governors May Reject Stimulus Funding. Is the stimulus bill the Trojan horse of Socialism? Some Republican governors seem to think so. The Governors of Texas, Mississippi, Louisiana, Alaska, South Carolina, and Idaho have questioned whether or not the bill will benefit the economy. Some are wary of federal provisions that accompany the money. Democrats claim this is selfish political posturing, and state that “No community or constituent should be denied recovery assistance due to their governor’s political ideology or political aspirations.” This may be a moot point, however, as language in the legislation allows state lawmakers to accept federal money even if their governors object.
GOP Governors’ Stimulus Refusal Would Be ‘Slap in the Face’ to Blacks. In response to several governors contemplating turning down federal funds from this week’s spending bill, Democratic Congressman Jim Clyburn pulls the race card. Clyburn calls this a “slap in the face for African-Americans,” and says he is deeply insulted. It is not clear why this buffoon claims that blacks will be disproportionately affected by this decision. The governors are voicing discontent with federal lawmakers and are concerned that accepting funds will come with “commitments attached to it that are a mile long.” Clyburn’s public outburst seems nothing more than a shameful tactic in stifling discussion and forcing conformity, fomenting racial divisions in the process.
Attorney General Calls US a “Nation of Cowards” on Racial Matters. The first black attorney general, Eric Holder, said America was “a nation of cowards” on racial matters. Holder claims that most Americans “avoid candid discussions on racial issues.” The lawyer acknowledges that the country is integrated in the workplace, but condemns citizens for “self-segregating on the weekends and in their private lives.” It is not yet clear what policy initiatives will follow that force Americans to coalesce amicably on weekends and during private time. One thing that is clear is that Eric Holder knows best.
IRS In Need of Cash, Raids Foriegn Banks. When the war cry went out to fund Americas largest wealth distribution program to-date (the recently approved stimulous package), the Internal Revenue Service knew it had to go external to hit a cache of wealth enjoyed by the shameless tax evading rich. The IRS has found a loophole in the off shore banking system many elite Americans abuse to evade taxes. The long held sanctuary of Swiss Bank Accounts once meant anonomity for those looking to not pay their fair share in the entitlement system stateside. But not for long. The U.S. Justice will soon root out these criminal offenders and seize their assests to help America get back on it’s feet.
California Budget Approved, Disaster Averted..For Now. California’s legislature passed a budget bill that closed the $42 billion funding gap through a series of tax increases, spending cuts, and of course, more borrowing. If only the California had the power to print money!
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