Penn State’s own Edward Ketz brought up a very valid argument yeserday about this plan of President Bush’s which I call deadbeat amnesty.  As you know it freezes the ARM rate for 5 years, and rewards deadbeat buyers and stupid people who bought houses they knew they could not afford (i.e. Sperm Walentis from The Reading Eagle).

It seems from Illegal Aliens to the free market the government continues to reward the people that continue to damage our economy.  You would think after the savings and loan bail out that we would have learned a thing or two.  Also that magic number of 5 years brings up another issue.  Does anybody want to guess?  I promise you that you won’t read about it anywhere else, but 5 years down the road leads to 2012 which happens to be a presidential election year.  Is Bush trying to destroy the conservative branch of the Republican Party, or is he think that nobody can stop Hillary Clinton and this is a way of ensuring her being only a 1 term president?

Bottom line is that we have to face the facts and point blame where it really belongs and that’s The Federal Reserve.  Each time they blow up a bubble from Tech to Housing it just continues to get worse each time that bubble pops, and in the process destroying the value of the dollar.  It just makes you think that JFK was so dead on when he began the process of printing treasury notes for the purpose of avoiding what we are facing now.  Ron Paul has the same idea as well.  Congress is simply just outsourcing its responsibility to a private company that continues to over produce money.  This is a good time to bring up the debate of why we would be better off without The Federal Reserve.

Let the debate and the kook name calling begin