Monday, April 20, 2009

US Government to Nationalize Banks

The New York Times: Reports that the Obama Administration is to convert its bank bailouts in to shares, in other words they would own some of the major banks in the USA. Welcome to the 1970s folks, in the UK it was called the time that the UK was the sick man of Europe. Thus welcome the USA to the sick man of the world. This goes well beyond the 1983 Labour Manifesto, the one that got them hammered in the polls. The liberal left has got its dream, the taking over the banks, expect the US economy to go down hill folks. The day the Government arrives with the words, " We are here to help " its time to head to the hills and build that bunker. Alright not that extreme but close. Thus the USA will become like the UK in the 1970s. The Government will run business as its runs everything else badly, thus banks will become another social programme, profit wont matter, the banks will have to fit the Liberal Agenda. This means that banks will be taxed if they make money, thus banks will stagnate. Think the USSR and you get the idea. All Empires fall, Rome, Britain and know the USA. Iran and North Korea will be chuckling.

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