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Why Trust Government With Financial Reform?

SEC workers spent hours at work watching online pornATHENS: Faced with massive debt, Greece today initiated an emergency plan to borrow money from the European Union and the International Monetary Fund to help it make interest payments and keep it from default. Their bailout request comes at a time when interest rates are at historic lows. In the US the Federal Reserve is monitoring interest rates and is signaling its intention to preserve these low rates for the near term.

If Greece is able to borrow some $40 billion (at interest rates of about 5 percent) it is likely to be able to remain solvent through the end of this year. European governments are reluctantly considering their request, afraid of the consequences of a Greek default and its rippling effects throughout the EU. Conditions are sure to be attached to the loans, requiring the Greek government to make substantial cuts in services and benefits to its citizens. Reaction to such stipulations are likely to invoke further civil unrest against the backdrop of riots that have plagued the country this year:

Greek trade unions reacted with dismay and vowed to step up strike action, with the head of Greece’s umbrella civil servant union saying the conditions likely to be set for the aid package made the request “a negative development.”

Greeks Riot In Response to Benefit Cuts

Greeks Riot In Response to Benefit Cuts

“Social resistance and accelerated strike action form the course that can provide hope and certainty in our life,” Spyros Papaspyros said. His union, ADEDY, plans a protest rally against the IMF on Tuesday. Associated Press

These developments hint at future instability in other countries as burgeoning debt loads overwhelm their abilities to repay. Governments try to borrow all they can to finance their debt at the same time inflating their currencies, hoping to stave off the inevitable. In the US the Federal Reserve is printing dollars like they are going out of style (wait, dollars are going out of style), and will soon have to raise interest rates to rein in inflation. When interest rates go up you can expect more countries to follow in Greece’s footsteps.

Mark Lloyd, Minister of PropagandaThe NIP has called attention to each of the three recent warnings from Moody’s that threaten the Aaa credit rating of the United States. Further financial deterioration is sure to spark worldwide civil unrest like Greece is experiencing, with police actions like you see above. Dreamy-eyed would-be revolutionaries like the FCC’s Mark Lloyd look on the opportunity to seize control of a country with glee, only too happy to center all control into the hands of a Chavez or an Obama.

Meanwhile Senators like Blanche Lincoln attempt to resurrect their careers by campaigning for “finance reform.” Obama has jumped on board, pounding on Wall Street “fat cats,” when our recent meltdown was caused by Senators Chris Dodd and Barney Frank forcing banks to make homes loans to people who couldn’t afford them. The current bill does not even address the messes that are Fannie Mae and Freddie Mac, the government institutions that destroyed our economy and forced us into a near depression.

So let’s go ahead and accept the lies, swallow the half-truths, and give even more power to the government to regulate not only our health care but our financial lives as well. We’re sure we can trust SEC workers to take a break now and then from their porn surfing to look after our interests.

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