Obama’s latest is another bailout for people who can’t make mortgage payments.
America is not the land of the free. (It still has its share of brave, but also ignorant.) It’s the land of after-the-fact insurance aka ex post indemnification via theft. Banks get bailed out — after they’ve made bad bets. The bondholders of banks get bailed out, after they’ve signed contracts. People who took out mortgages get bailed out so that banks can get bailed out. All after the fact. All with taxpayer funds. All via theft. The FED has the power to bail out almost anyone it pleases, all after the fact and by stealing currency value. Contracts don’t mean what they say. The government alters their terms at will. Abrogation of gold clauses by FDR is a good example. Theft is a way of life. It’s taken for granted. So is entrapment. So are random searches. So are seizures. So are undeclared wars.
8:03 am on October 25, 2011
