Night of the Living Debt

By Edgar J. Steele

Close your eyes and picture your children, grandchildren and great-grandchildren, all alone and scared, in an old, abandoned graveyard. The moon disappears behind one of the gathering storm clouds. Lurching forms begin to emerge from behind tilting gravestones.

A hand emerges from the earth and clutches at one of your children. They all begin screaming and dashing about, desperately seeking safety that does not exist.

Suddenly, one child shrieks in heart-rending agony as, set upon by three moldy corpses, her slender leg is bitten by one. As each child tries to help the other, he or she also is taken to the ground by slimy zombie-like creatures who begin to feed on the tiny forms.

Then you realize that you are one of the zombies, just as you sink your rotten teeth into the warm, gently yielding flesh of your offspring.

Hollywood “B” movie stuff? No. Reality? Not yet, but it’s coming, even if only euphemistically.

Right now, we are eating our children’s financial future, as well as that of their children and their children’s children. We are the zombies.

How can this be? Consider all the financial carnage of the past two weeks, of which you may have heard a glimmer from the controlled media. Every last bit of it is resulting in massive taxpayer bailouts of fat cats and foreign bankers. So massive, in fact, that taxpayers not yet born will be on the hook for their entire lives. Our descendants.

This past week, Treasury Secretary Henry Paulson (one of an endless number of government functionaries formerly employed by Goldman Sachs, one of the two remaining investment banks in America) announced yet another bailout of Mortgage giants Fannie Mae and Freddie Mac, this time to facilitate the increased purchase of mortgages in the near future. How much? “Hundreds of billions of dollars,” is all that he would admit. This must be added to the $300 billion bailout announced just two weeks ago (ranging up to $1 trillion, in effect, by some estimates). Paulson’s announcement followed a rare meeting including “WhirlyBen” Bernanke, Federal Reserve chairman, and a large number of government and private financial industry functionaries and leaders.

Now, congressional hearings are in progress to rubber stamp Paulson’s demand for $700 billion more to buy any sort of financial “asset,” no matter how worthless, from any sort of financial institution, both American and foreign. (more…)