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The pus-filled cyst of Republican leadership
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by Mr. Chuckles, Unknown News Oct. 1, 2006
The last few nights I have had terrible
nightmares. One of the dreams is recurrent:
I lose things -- eventually everything,
including wallet, clothes and home --
and become trapped on a "reality
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conveyor belt"
of sorts that takes me away from where I
need to be. The other dream is the Unspeakable
Horror...which varies, depending...
What makes these nightmares so bad, and so surreal
is that everything in my waking life is perfectly
fine. That scares me. I've learned better. When
life seems perfect, watch out. Satchel Paige
said, "Don't look back. Something might be gaining on
you." In my experience there is no doubt about
that. It is always true.
One horror show is the Fannie Mae corporation
and her evil twin, Freddie Mac. You may not be aware
of the fact that Fannie Mae has not produced
audited financial reports since 2003. Perhaps
you knew that but tried not to think about it.
For some strange reason, the FNM stock is still
allowed to trade on the NYSE and Fannie continues
merrily along in the mortgage business. Jim
Willie suspects that Fannie Mae is and has been
"insolvent" -- bankrupt -- which may explain why
the Fed decided to stop publishing the M3 report.
That story is very involved, but the bottom line
is that Fannie Mae holds 3/4 of a trillion dollars
worth of mortgages on its books, and in total
either holds or guarantees 40% of American
mortgages. If Fannie goes down, which would seem
likely if the housing market crashes, then the
US financial system could go next -- hence the need
for the Bush/Fed to print (M3) money in unlimited
quantities. Must be a National Security TOP SECRET
agenda item :)
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It may be that the Loch Ness monster does not lurk
beneath the placid waters of Loch Ness. And it may
be the case that Fannie Mae is simply too big to be
allowed to fail. As President Bush would probably
say in one of his lucid moments, "It is unacceptable
to think
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Fannie Mae 'AA-' ratings
stay on CreditWatch negative
BondsOnLine
Housing out of the box
by Jim Willie, Hat Trick Letter
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that Fannie Mae will fail." Fear itself
can create failure, which is what I think Dear Fearless
Leader would be trying to say...if he were lucid
and in touch with reality about Fannie Mae, or Iraq
or anything...
I am afraid though, because superficially everything
is lovely. Yesterday I checked the stats: 80% of my
wagers this year were winners, and there were no big
losers. It is time to worry when even crapheads
like me are doing well. That indicates that The Powers
That Be are getting set to change the rules of the
Game; or even, to start an entirely new Game.
It should be obvious by now to everyone that the
current game is "oft gang agley." 38% of the world
has a *positive* opinion of America. 60% of Iraqis
support attacks on American troops. 25% of Iraqi
children are developmentally stunted due to
malnutrition. Congress just voted to legalize
torture and permanent incarceration of anyone
that Dear Fearless Leader decides is guilty. China
will soon have $1 trillion of cash reserves
and America has $45 trillion of national debts
and unfunded liabilities. Gaza is an open air
concentration camp and Israeli troops are authorized
to *legally* shoot rock-throwing children.
It's a mess all right!@
You have to admit that things are starting to
look bad for the GOP. "The System" is producing
antibodies and leakers at a furious rate. Names
of horror surface for 15 minutes of infamy, and
we all try to forget: Abramoff, Ney, Libby, Abu Ghraib,
Guantanamo...Cheney...Bush...
For example, here is the latest "Bushism":
"I like to tell people when the final history is
written on Iraq, it will look like just a comma
because there is -- my point is, there's a strong
will for democracy." --George W. Bush, interview
with CNN's Wolf Blitzer, Sept. 24, 2006
(Watch video clip)
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When millions of Americans march in the streets and a new Kent State happens, then perhaps America will regurgitate the Bush Regime and try to sober up.
Until then, the slide into the abyss will continue -- or WWIII will begin.
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There's much more than this at Unknown News.
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Oh, the horror of it all.
Next year will be worse than this year. And
2008 will be worse than 2007.... And today is the
best day of the rest of your life.
Things aren't getting better. They haven't even
stopped getting worse. America killed two
million Vietnamese and got away with it. Now
the "television wisdom" is that Iraq is like
Viet Nam and that we *must* win in Iraq or
else Very Bad Things Will Happen to us. Half
of Americans, I guesstimate, get their news
from television or the pulpit. And the other
two thirds try to ignore the news completely :)
When millions of Americans march in the streets
and a new Kent State happens, then perhaps
America will regurgitate the Bush Regime and
try to sober up. Until then, the slide into the
abyss will continue -- or WWIII will begin.
My guess is that in 2007 the U.S. will need
to reinstate the draft -- or it will be forced
to declare victory and withdraw from the War
on Islam.
A military draft will change things,
politically and economically. We'll go bankrupt
just that much faster and we will be able to
fight more and bigger wars, temporarily.
At that
point, perhaps, the pus-filled cyst of evil that
is the GOP leadership will finally explode in a
burst of red, white, yellow and blue, and then
the healing process can begin. We shall see...
© by the author.
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