President Obama gave a speech on winding down Freddie Mac and Fannie Mae, the GSEs often blamed for the housing crisis and a darling of conservative ire. Government sponsored enterprises, or GSEs buy up mortgages from private lenders and the theory is to loosen up funds to stir additional lending.
We fill our lives with media. Day in and day out the screens and voices spin a tall fictional tale of Americans with good jobs, houses, cars, educational opportunities and money. Frontline brings home the real America, the one we don't want to face. Gone is the American Dream, replaced with foreclosures, food stamps and work that doesn't pay enough to even make the most modest rent. The new America is a wasteland of broken dreams, broken promises and broken people working themselves into the ground and still not even getting by.
President Obama's stimulus plan will not work. He is focused on the big picture while ignoring the small ones the make our economy work. Only local value added economies work. Economies based primarily on making money on money rather than making things do not and are burning out. President Obama does not even mention the history of Free Trade failures. Free Trade and Globalization means centralization. This means all the good and bad are centralized. All the bad that was controllable in de-centralized ways are now out of control.
The cause of our economic crisis is primarily about Free Trade that moved our production of the things we use and eat to other parts of the planet. The crisis is about cheaper imports meaning cheaper wages, underemployment and unemployment.
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