Bottomless Bailout

American budget deficits are bottomless and American national debt is the largest in the world and in history and it is also bottomless because American leaders spend taxpayers money to enrich themselves and special interests. The 1 percent of population benefits greatly from American bottomless deficits and bottomless national debt.

“It hasn't worked out that way. Instead, the global economy plunged more dramatically than anticipated. Though AIG's core insurance business is strong and might have attracted interest under more normal circumstances, the company has been unable to find buyers at prices sufficient to repay the government. Its losses have mounted, and, with them, the need for more government aid; the bailout rose to approximately $150 billion by the end of 2008. And yesterday, as AIG announced a $61.7 billion loss in the fourth quarter of 2008 -- the largest in U.S. corporate history -- the government gave it access to an additional $30 billion. The terms of the deal are the most generous yet and convert the U.S. government from a short-term creditor of AIG's into a longer-term equity investor. Over time, as economic conditions improve, AIG may finally be able to sell itself off and repay the taxpayers. We shall see.”

There are people in power and authority who still do not see the handwriting is on the wall because the blind cannot see. They are blinded by greed. What was wrong from the start could never end up in the right.

1.  There should never be a bailout for AIG in the first place because the firm was not worthy and the problems were created by AIG management.

2.  It is NOT the function of government to bail out corrupt and unworthy and failed firms no matter how large they are.

3.   Taxpayers’ money should NEVER be used to support crooks and criminals, crooks and criminals cannot save the firms which they destroyed in the first place.

4.   There is NO workable plan for any firm or business run by crooks and criminals, and there is no hope or evidence that things will improve.

5.  You cannot expect wolves to become sheep, the profligate to become virtuous, the corporate robbers to become gentlemen, the incompetent to become successful. What does not work will not work.

6.   The leaders and officials have NOT learned from the crooks and criminals of Savings & Loan some years ago. Those who have not learned from history are doomed to repeat it perpetually. 

7.   A large dose of oratory optimism and false hope cannot change the fact of doom. You cannot travel high speed on a path to destruction to finally find the paradise. 

8.   Who will be responsible for trillions of taxpayers’ money wasted and misspent?

9.   In an irresponsible and immoral government, no one is accountable or liable for any crime.

10.  The federal government should take over and abolish Fannie Mae and Freddie Mac. 

11.  The federal government should never sponsor or guarantee any kind of business or industry. Any business or industry sponsored or guaranteed by the government has a tendency to become a black hole of corruption and fraud.

12.     In fact, the Democrat president, the Democrat speaker of the house, the Democrat senate majority leader, and the Democrat congress are responsible.

It is distressful to think of the unthinkable! What is the unthinkable? The collapse of the United States of America.

It is unsustainable to continue and increase with the debts and deficits endlessly. The American pie has been sliced by special interests so much so they even swallow up the pie in the sky. Spendthrift, heavy borrowing and printing trillions of dollars are hastening the doomsday.


The Outstanding Public Debt as of 08 Aug 2014 at 02:02:48 AM GMT is:

$ 1 7 , 6 5 4 , 5 9 1 , 0 5 1 , 7 4 9 . 6 5

The estimated population of the United States is 318,770,672
so each citizen's share of this debt is $55,383.36.

The National Debt has continued to increase an average of
$2.35 billion per day since September 30, 2012!
Concerned? Then tell Congress and the White House!

In addition to the perennial budget and trade deficits, the huge U.S. national debt has reached over $18 trillions of dollars is growing bigger and bigger every minute, they are not imaginary threats. People who present and maintain the U.S. National Debt Clock are doing a great service to the nation because they warn Americans of the greatest threat minute by minute.

Most people have no idea how much is $1 trillion. If you count one dollar every second, it would take you more than 31,000 years to count a trillion dollars. As of to date, the U.S. current national debt is more than $19 trillion as indicated in red above by U.S. National Debt Clock. The reason the U.S. has such high deficit and huge national debt is simply because the politicians and officials spend so much money to enrich and serve themselves and special interests at public expense.

Bad and corrupt governments not only always waste and run out of the people’s money, but run into huge debt and deficit.

13.    You cannot make an empty sack to stand up anyway!

The United States of America is like a giant tree eaten hollow by the termites of corrupt politicians, lawmakers, officials, industrial-military complex, Wall Street, Hollywood, fraudulent and predatory doctors, dentists, hospital owners, labs and medical suppliers, drug and insurance companies, lawyers and courts, bankers and executives, parasitic bureaucrats, welfare and prison population, living former presidents, corporate subsidies, crooks and criminal of infinite variety, etc.

14.     It is ludicrous and ridiculous to bail out Wall Street which created the economic and financial crisis beginning in 2007 that looted the world more than $50 trillion; and the crooks and criminals who give themselves hefty compensations, perks and pensions and annual bonuses in billions.

15.  Never again should government be allowed to bail out any bank, business, industry, firm, organization or individual.

Bailing out “too big to fail” firms and rewarding those crooked and corrupt executives responsible for creating the economic and financial crisis in 2008 with excessive executive compensation and billions in annual bonuses are the core and crux of an immoral economic theory and practice. It is more than regrettable, it is criminal. For the Fed to engage in massive monetary easing not only making the money easy and cheap in value but creating tremendous high risks. This was an undeniable deliberate manipulation of currency.

According to the Washington Post Editorial (March 29, 2012), “Still, these benefits come with risks attached. Among the biggest risks is that easy money from the Fed enables banks and firms to postpone necessary restructuring — and for Congress and the White House to postpone getting the federal government’s long-term fiscal situation under control. Indeed, three of Mr. Bernanke’s own central-banker colleagues, Bank of Japan governor Masaaki Shirakawa, former European Central Bank president Jean-Claude Trichet and Jaime Carauna, general manager of the Swiss-based Bank of International Settlements, made that very point at a Federal Reserve conference in Washington last week. Bernanke-style policies “can make it easier to waste time,” Mr. Carauna warned. The Fed has bought the U.S. economy time, but if that breathing space is not used wisely, the long-term result could be inflation and higher interest rates. Echoing those concerns, former Treasury Department official Lawrence Goodman notes in a Wall Street Journal op-ed that the Fed’s massive purchases of federal debt, which amounted to 61 percent of net Treasury issuance in 2011, are keeping interest rates artificially low — and are masking a decline in demand for Treasuries from foreigners and the U.S. private sector. Net interest payments on the federal debt actually fell between 2008 and 2011, as a share of gross domestic product, even as the deficit tripled. Mr. Goodman argues that this phenomenon gives policymakers a false sense of security about the federal government’s fiscal predicament.”

Sherrod Brown, a Democrat, represents Ohio in the U.S. Senate (June 7, 2012) wrote, “When the Treasury Department decided which banks to rescue and which to let falter in the fall of 2008, it set the precedent that certain institutions are “too big to fail.” This status comes with an implicit guarantee from the federal government: As a result, ratings agencies give these megabanks a boost, and bondholders charge the banks less to borrow because they know that the government won’t let the institutions go under. Right now, about 20 of the nation’s largest banks can borrow money at a lower rate — ranging from 50 to 80 basis points by some estimates — than community banks can, thanks to this government guarantee.

Should the U.S. government give Wall Street banks an advantage over Ohio’s First National Bank of Sycamore? Supporters of truly free markets would say “no.” And yet our nation’s policies favor the trillion-dollar banks, fueling their risky activities.

This isn't free-market economics. And it isn't fair.”

Even an insider says the U.S. government is not fair. It reinforces the fact about an immoral economic practice.

Gen 3:1-21,“Now the serpent was more crafty than any beast of the field which the LORD God had made. And he said to the woman: Indeed, has God said, ‘You shall not eat from any tree of the garden’? The woman said to the serpent: From the fruit of the trees of the garden we may eat; but from the fruit of the tree which is in the middle of the garden, God has said: You shall not eat from it or touch it, or you will die. The serpent said to the woman: You surely will not die! For God knows that in the day you eat from it your eyes will be opened, and you will be like God, knowing good and evil. When the woman saw that the tree was good for food, and that it was a delight to the eyes, and that the tree was desirable to make one wise, she took from its fruit and ate; and she gave also to her husband with her, and he ate. Then the eyes of both of them were opened, and they knew that they were naked; and they sewed fig leaves together and made themselves loin coverings. They heard the sound of the LORD God walking in the garden in the cool of the day, and the man and his wife hid themselves from the presence of the LORD God among the trees of the garden. Then the LORD God called to the man, and said to him: “Where are you?” He said, I heard the sound of You in the garden, and I was afraid because I was naked; so I hid myself. And He said: Who told you that you were naked? Have you eaten from the tree of which I commanded you not to eat?” The man said: The woman whom You gave to be with me, she gave me from the tree, and I ate. Then the LORD God said to the woman, “What is this you have done?” And the woman said: The serpent deceived me, and I ate. The LORD God said to the serpent: Because you have done this, Cursed are you more than all cattle, and more than every beast of the field; on your belly you will go, And dust you will eat all the days of your life; and I will put enmity between you and the woman, and between your seed and her seed; he shall bruise you on the head, and you shall bruise him on the heel. To the woman He said: I will greatly multiply your pain in childbirth,in pain you will bring forth children; yet your desire will be for your husband, and he will rule over you. Then to Adam He said: Because you have listened to the voice of your wife, and have eaten from the tree about which I commanded you, saying, ‘You shall not eat from it’; Cursed is the ground because of you; in toil you will eat of it all the days of your life. Both thorns and thistles it shall grow for you; and you will eat the plants of the field; by the sweat of your face you will eat bread, till you return to the ground, because from it you were taken; for you are dust, and to dust you shall return. Now the man called his wife’s name Eve, because she was the mother of all the living. The LORD God made garments of skin for Adam and his wife, and clothed them.”

The Scriptures cited above explains the origin of lie. To do justice in expounding the Scriptures will require many pages. Jesus Christ gives authoritative definition and explanation of the devil, 

Jhn 8:44, “You are of your father the devil, and you want to do the desires of your father. He was a murderer from the beginning, and does not stand in the truth because there is no truth in him. Whenever he speaks a lie, he speaks from his own nature, for he is a liar and the father of lies.” I can only give you the highlights of the truth as follows:

(1). The devil was the first liar (the serpent was the symbol of the devil); he does not stand in the truth because there is no truth in him. The devil is the father of lies and liars. The nature of the devil is like the crafty and cunning serpent. The prime minister of Japan is seemingly the most crafty and cunning politician of the 21st century outwitted even Obama.

(2). The devil was the first murderer who killed Adam and Eve by leading them to sin, for wages of sin is death.

(3). The devil and his children always cast doubt on the Word of God and distort the truth. The way the evil prime minister of Japan and his gang distort historical facts chills the heart of every decent person.

(4). American leaders since the end of World War II have proven to be liars and killers. For example, American leaders used one lie of the weapons of mass destruction to falsely accuse Iraq and under the pretext attacked and occupied Iraq and killed so many innocent peoples. The leaders of America, Japan, Philippines and Vietnam today create the biggest and blackest lie of China threat in order to launch a war of aggression to rob China’s territories and loot China’s resources in the South China Sea and the East China Sea. There are two prominent liars today namely Obama and the prime minister of Japan. Obama knew in 1971 the U.S. violated the international law and China’s sovereignty by illegally giving administrative control of China’s Diaoyu Islands to the unconditionally surrendered war crime nation of Japan. That was why Obama at first said the U.S. took no position on the sovereignty of Diaoyu Islands. Now he declared to defend Japan against China. The prime minister of Japan is the evil beast of Japan and Hitler of Asia who shamelessly denies all Japanese war crimes, genocide, sex slavery and unprecedented atrocities. The lawless man even distorts history by saying Japanese soldiers were fighting for peace in World War II. The children of the devil who are liars and killers are like their father the devil.

(5). Eve admitted she was deceived by the devil. Women are more easily deceived than men.

(6). Appearance is deceptive. Eve saw the forbidden fruit was a delight to the eyes. Do you know the wild deadly mushroom looks beautiful? Deadly prostitutes may also look delightful to some men.

(7). Sin brings curse and pain and eventually death. The love of money, power and sex has caused so much pain in the world. Be sure your sin will find you out. The sins of American presidents are found out more and more.

(8). Sinful man cannot save himself; he needs redemption by Jesus Christ the Lamb of God.

The funniest thing is that supremacists and capitalists charge that China is not a free-market economy. The United States is the model of a free-market economy. What the government and crooks and criminals do with the free-market economy shock you out of your moral slumber and mental stagnancy!

American bailout policy is one of many proofs that America is committing suicide!

American leaders are leading the United States to the path of destruction by destroying the world through lies and murders in the pursuit of absolute military supremacy and world domination since the end of World War II which had killed millions and millions of innocent peoples around the world through hundreds of unjust wars and bloody military interventions conducted by the U.S.

American leaders by serving and enriching special interests incur huge annual budget deficits and the largest national debt in the history of the world which is sinking the republic (empire) to the bottomless pit!

Wake up patriotic Americans and do something about the imminent collapse of America!

January 1, 2018

Willie Wong

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Copyright © 2010 - 2018 by Willie Wong



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