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The Voice of the White House for January 18, 2008

: “Bush has been running around the Arab countries trying in vain to act like an intelligent president and at home, the economy is collapsing. Yes, kids, you heard me, collapsing. A recession is for sure and a depression not so likely but not impossible. What has happened? Bush’s total lack of knowledge of basic economics, huge swindles being practiced, bubbles popping right and left. What’s doing all the damage is the utter and complete collapse of the crooked cheap mortgage system. This is based on outright swindles. It is not an accident. Huge hordes of shyster-like mortgage brokers deliberately let mortgages out to anybody who was above room temperature, even though they new for a certainty that when the banks and big lending agencies they sold them to, raised the rates, the mortgage holders would simply walk away.

The institutions also knew these were fake but they readily bundled them and jammed them into anyone with money. Now, the small fry crooks have fled the country and the big banks and lending people are screwed right into the walls of their offices. It’s been all over the papers so there is no point in rehashing this but all the major banks, and I mean all of them, are taking it in the shorts and a number of the most prestigious ones are right on the edge of total bankruptcy. The government will cover all deposits up to $100,000 but not over that. And the hedge funds are another area about to cave in. They did a Ponzi with their suckers and when many try to cash out, they can’t because their ain’t no money, honey. They’ve been paying off the new customers with money from the old and once this one starts to cave in, there will be planes full of frantic former billionaires heading for Aruba or a safer Israel to join the mortgage brokers. This is a huge, terrible problem but the useless Bush is having tea with the Saudi king and acting like the bumbling airhead he really is. He won’t do a thing because he is far too stupid to know what to do. At the present time I do not feel investing in anything in the United States is recommended, and neither would I recommend depositing any sum of money into any unit of our banking system. The reason for this? Our economy is now sliding down a slippery slope, gold and oil are rising in value, banks are crumbling as are major U.S. investment companies. Perhaps if an investor looks for security for their funds, they might consider a Russian or Irish bank. I know that to be viable because I have money in similar institutions. “

www.tbrnews.org/Archives/a2809.htm

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