Run Freddie!

Run Fannie!

Look at them run!

Of course I'm referring to the United States' Government takeover of the failed mortgage giants Fannie Mae and Freddy Mac. Richard Geller posted an interesting chart that shows the relative foreign investment in Freddie and Fannie.Hundreds of billions of dollars of mortgage loans were purchased by people in other countries, largely in the Middle- and Far-East.

"Good," you say. "Let the infiltrators lose their shirts!"

Ah…that's the rub. They aren't going to. The U.S. Government - our government - guaranteed they wouldn't. So any of the $5 trillion dollars in loans that defaults, you and I, American taxpayers, are going to subsidize. Yes, I know you paid your bills, including your mortgage, on time. But lots of people didn't. It seems they were seduced by empty promises they found so believable that you and I now get to make good on them. Of course, those people may lose their homes, but at least Saudi and Chinese investors will get their earnings.

Did you buy groceries this week? Did you, like I, find an item that was $3.50 two weeks ago that is now $4.99? Did you, like I, buy gasoline for $3.87 a gallon that was only $2.36 less than a year ago?

So for any of you who thought the economic downturn was about over, fasten your seat belts! We're also paying for a $3 trillion dollar war. Don't look at your investment portfolio, because I don't want your stress-attack on my hands!

I have two recommendations for you.

1. Vote! I don't care if you and your spouse's votes cancel each other out. It's important for every American citizen to leverage his or her power to notify elected officials we are paying attention. I know it isn't fair than many have heard nothing in the media on their favorite candidate in months. The corporate-owned media has chosen to highlight only two parties, and only the most popular candidates in those two parties. It's the best we've got until we can fix the system. Vote. Be heard.
2. Pay your bills, including your mortgage. A place to live might be one of the few securities you'll have in the next couple of years. If you can accelerate your pay down, you'll keep tens of thousands, or hundreds of thousands, of dollars on your side of the ledger, rather than on the banker's side.

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