China launching massive domestic stimulus, details on the $275 billion homeowner bailout, landmark Supreme Court ruling for drug makers, Chavez declares war on opposition media and nationalizes a U.S.-based company, lawmakers defend 9,000 earmarks including “swine odor research”, and a Russian economist predicts civil war in U.S. in 2009…just the latest in your Freedom Under Fire Report!
Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:
China Announces Massive Domestic Stimulus. Chinese Prime Minster Wen Jiabao revealed an ambitious domestic spending program to counter the economic downturn. The plan includes a barrage of construction, increased subsidies and economic measures designed to get Chinese to spend and consume more goods. This comes after a $585 billion spending plan announced last November. The big question remains as to the magnitude of its wealth reserves it intends to invest domestically, versus in acquisition of U.S. Treasury securities.
Recommended reading: A Bull in China: Investing Profitably in the World’s Greatest Market by Jim Rogers
White House Discloses Details on Homeowner Bailout Program. In the most ambitious effort since the 1930′s to aid troubled homeowners, the Obama administration has pledged $65 billion in a variety of incentives to restructure mortgages. The Treasury will offer mortgage-servicing companies upfront incentives of $1,000 for every loan they modify and additional payments of $1,000 per year for the first three years if the borrower remains current. They will also pay $1,000 per year to directly reduce the borrowers loan amount. All banks that received federal assistance through TARP or other subsidies are required to participate in this plan. The cost of this plan for some reason does not include the $200 billion in capital the Treasury is providing to Fannie Mae and Freddie Mac to support this plan.
Drug Approval is Not a Legal Shield for Lawsuits. In one of the most influential court cases for the pharmaceutical industry, the Supreme Court ruled that having federal government approval for product and labeling does not protect companies from litigation. This case will have big impacts on the cost of health care as litigation costs increase.
Congressional Democrats Oppose Obama’s Tax Hikes. President Obama is proposing to limit itemized tax deductions for high income earners, including write-offs for charities, mortgage interest on real estate, and state and local taxes. Congressional Democrats are opposing these plans, citing that they will stifle private charities and further depress the real estate market at a time when it is already suffering collapse.
Chavez Declares War on Opposition Media. Venezuela’s dictator, Hugo Chavez, laid out plans to identify and persecute opposition media. He wants governors and mayors to document which media sources are “in the hands of the oligarchy.” He claims that if it were not for exaggerated broadcasts opposing his policies he would have at least 80% of the popular vote.
Venezuela Nationalizes U.S.-Based Food Company. Dictator Hugo Chavez ordered the nationalization of at least some of the operations of the U.S.-based food giant, Cargill, and threatened to do the same with the Caracas-based food company, Polar. Cargill currently has 2,000 employees in 22 locations in Venezuela.
Lawmakers Defend Earmarks in $410 billion Spending Bill. At latest count there are over 9,000 earmarks in the $410 billion spending bill that just made its way through Congress. Critical attacks on the earmarks have become so harsh and numerous that members of Congress are stepping up their defense of the pork programs. The 1,000+ page bill has such ridiculous items buried inside that some members of Congress are ashamed, including 13 projects sought by a lobbying group that is now shut down for funneling illegal campaign contributions to lawmakers, money for “swine odor research”, tattoo removal, the “Mormon cricket”, Polynesian Voyaging Society, and the American Lighthouse Foundation. Lawmakers defend their claims that these projects, and the thousands more like them are essential to the nation.
Russian Economist Predicts Civil War in U.S. Russian professor of economics, Igor Panarin, predicts civil war in the U.S. in the fall of 2009, saying that a huge crisis is likely to develop. He predicts the U.S. will be divided into 6 different states and be influenced by external powers, including Russia, China, the United Kingdom, and even Mexico. “The dollar is not backed by gold and there are too many dollars in this world.” He also says that Alaska should return to Russia and that Moscow will turn into a financial center, and Russia will recover from the economic crisis as the Ruble takes the place of the dollars as a reserve currency.
No related posts.
Related posts brought to you by Yet Another Related Posts Plugin.
