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While we are being distracted with the theatrics of these long months of presidential canidates theatrics and hollow rehtoric, the grave issues in our nation (purposefully) are being ignored. The latest antics has Michigan (in ecomomic free fall) ignored by the party (Democratic) that once represented the working man. This because of rules (?) that punished Michigan for holding its primary too early. Now they are told they cannot send delegates to the National Convention. That's par for the course - why would the voice of the dispossessed be represented?

Jeffrey, age 49, lost his auto plant job in Aug. He has had to move in with his mother. Jeffrey says, "I lost everything I worked for all my life." John McCain's message was, "The jobs aren't coming back".

I'm not impressed with McCain (having never worked in the real world) advising the hundreds of thousands laid off (losing homes) to go back to college. He tells these hundreds of thousands from his removed affluence - "The jobs are never coming back". This shows you how detached those in Foggy Bottom are to the working man/woman. The arguments in SC - today say it's a race issue. Who loves Blacks more? Huckabee is still doing his hokum song fest (guitar) and promising a chicken in every pot (Tyson that is). His newest delusion is to change the constitution to line it up with Scripture. On and on it goes - while in the working man's world millions are losing their homes. There's an economic meltdown going on in the financial markets. The canidates say it needs studied. The REAL story has yet to be told to the American public. The ONE Question that should have been asked in these forever "Groundhog Day" debates has yet to be asked? These managed 'debates' (sniping contests) have yet to touch our domestic carnival of errors. You'd think we were electing a prom king or queen. Citizens are being treated like pet gerbils running round and round on a wheel of partronizing dribble and lies.

Both parties have been complicit over these past decades in the meltdown we're witnessing. People need to climb down off their elephants and donkeys. They need to discard their red - white - and boo attire and enter into the neutral zone. As long as people can be kept in the arena of elephant dung and donkey drippings they'll remain ignorant to the facts that will vitally affect their lives and their children.

REAL ESTATE: This problem began in the early 90s. This is when the Federal Reserve began lowering the costs of funds and banks encouraged people to borrow at low rates. Mortgage rates were lowered in 1991. This is when credit lines using home equity were created by your friendly banker. That was when people began going into debt up to their eyeballs using the inflationary increases in the value of their primary residence as a personal ATM machine! People forgot that the only true value in real property is the equity. Market estimates of home values can drop 50% in one day.

Why would the Federal Reserve do something so harmful to the national economy? When a bank makes a loan of $100,000, ninety per cent of that amount ( or, $90,000) creates new money out of thin air. This is called 'fractional - reserve' banking. It is a system used in most nations worldwide. Most nations have central banks - the Federal Reserve is a central bank. It is not a federal agency as most people have been led to believe. It is a cartel of privately owned bankers and other affluents - much like OPEC is owned by people in oil producing nations.

When Congress are over spending like mindless idiots, when the cost of war is approximately $245 million a day, one of the best ways to create money to pay these costs is to encourage American consumers to borrow. Every time you borrow - ninety percent of that amount creates new money from thin air. That money is injected into the economy. As long as we all borrow more and more and more money from banks more money is created.

No wonder borrowing was made so easy - it gave them the cash they needed for all that spending. Every good thing comes to an end. Expect an economic upheaval when Washington's cash cow quits giving milk.

"All of the perplexities, confusion, and distress in America arises, not from the defects of the Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation" John Adams, Founding Father

Congressman Louis T. McFadden, (therefore knowledgeable) was a banker. He headed the Congressional Banking Committee for 11 years. He stated the following (in part) before Congress on June 10, 1932. "Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks. The Federal Board, has cheated the Government of the United States and the people of the United States out of enough money to pay the national debt. This evil institution has impoverished and ruined the people of the U.S.; has bankrupted itself, and has practically bankrupted our government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it."

The Depression was a severe crisis in banking history. Between 1930 and 1933 more than 9000 banks close their doors and investments decreased by 90%. Ninety per cent of small community banks failed. By 1933 the banking system was a wreck. Congressional hearings in early 1933 revealed gross irresponsibility on the part of major banks, which had used billions of dollars of depositor's funds to acquire stocks and bonds and had made unsound loans to inflate the prices of these securities. The Banking Act of 1933 (the Glass-Stegall Act), was passed by Congress in the face of vociferous opposition from the American banking community. This act prohibited commercial banks from using their own assets to invest in securities (such as stocks and bonds).

In his 'Economic History of the Great Depression', John Galbraith pointed out one of the causes: "The large scale corporate thimblerigging that was going on. This took a variety of forms, of which by far the most common was the organization of corporations to hold stock in yet other corporations, which in turn held stock in yet other corporations. During 1929 one investment house, Goldman Sachs and Company, organized and sold nearly a billion dollars' worth of securities in three interconnected investment trusts . All eventually depreciated virtually to nothing."

Progressive Historians - Nov 27, 2007, Ralph Brauer

In 1971, in Investment Company v. Camp, no less than the United States Supreme Court would write what stands as the most cogent summary for the Banking Act (Glass-Steagall). "Congress was concerned that commercial banks in general and member banks of the Federal Reserve System in particular had both aggravated and been damaged by stock market decline partly because of their direct and indirect involvement in the trading and ownership of speculative securities." Supreme Court No. 61 argued Dec 15-1970: http://supreme.justia.com/us/401/617/case.html

FAST FORWARD: The chief aim of the money men (assisted by both Republicans and Democrats) for decades was to roll back FDR's New Deal. Anti-government rhetoric ( distracting labeling) has hidden this from public view. The 'Banking Act' of the New Deal was a priority by vested interests in being repealed. The undoing of this Act took decades and approximately $200 million in lobbying funds to accomplish.

"Billionaire Sanford Weill made 'Citigroup' into the most powerful financial institutions since the House of Morgan a century ago. A major trophy of Sanford's is the pen Bill Clinton used to sign the REPEAL of FDR's Banking Act - a move which allowed Weill to create Citigroup. " Sanford Weill called President Clinton to break the deadlock after Senator Phil Gramm, chairman of the Banking Committee, warned Citigroup LOBBYIST Roger Levy that Weill has to get the White House moving on the bill or he would shut down the House-Senate Conference. A deal was announced at 2:45 a.m. Just days after the Clinton administration (including the Treasury Department) agrees to support the REPEAL, Treasury Secretary Robert Rubin, the former co-chairman of a major Wall Street investment bank, Goldman Sachs, raises eyebrows by accepting a top job at Citigroup as Weill's chief lieutenant. The previous year, Weill had called Rubin to give him advance notice of the upcoming merger announcement. When Weill told Rubin he had some important news, the secretary reportedly quipped, "You're buying the government." Progressive Historian