More Americans than one would think were awake and paying attention during the summer of 2008.  They knew what was coming when the bottom fell out of the housing market, and foreclosures started to pile up.  They knew, in even the most simple terms, what domino effect was about to happen.  These patriots were the ones calling their representatives to register their NO VOTE against the Bush stimulus 1.0, and then screaming about the $787 Billion T.A.R.P. Paulson Bank Rescue, which moved onto the $186 Billion for AIG and truly blossomed under GM and Chrysler.

We did not want any of this money being spent because we knew there was nothing backing those fiat dollars but winks and promises.  There surely was nothing in all the money being thrown around for the majority of Americans.  Sure, the unions and the banks profited, but at what expense to the rest of us?

We have been watching other nations’ financial ministers speak about getting out of the U.S. Dollar and switching to a world currency, including China, India, and Russia.  We have China telling the pResident during his recent trip that his healthcare bill might be too expensive at this time, and now Germany has jumped on the bandwagon.  Our government is an addict who is completely blind to the magnitude of their fiscal irresponsibility, and we have foreigners gently nudging our leaders on domestic policy.  Jesus, Mary, and Joseph!

IT IS TIME FOR AN INTERVENTION.

Germany warns US on market bubbles

Germany’s new finance minister has echoed Chinese warnings about the growing threat of fresh global asset price bubbles, fuelled by low US interest rates and a weak dollar.

Wolfgang Schäuble’s comments highlight official concern in Europe that the risk of further financial market turbulence has been exacerbated by the exceptional steps taken by central banks and governments to combat the crisis.

Last weekend, Liu Mingkang, China’s banking regulator, criticised the US Federal Reserve for fuelling the “dollar carry-trade”, in which investors borrow dollars at ultra-low interest rates and invest in higher-yielding assets abroad.

Speaking at a banking conference in Frankfurt on Friday, Mr Schäuble said it would be “naive” to assume the next asset price bubble would take the same guise as the last.

He said: “More likely today is a scenario in which excess liquidity globally creates a new [sort of] asset market bubble.”

He added: “That low interest rate currencies such as the US dollar are increasingly being used as a basis for currency carry trades should give pause for thought. If there was a sudden reversal in this business, markets would be threatened with enormous turbulence, including in foreign exchange markets.”

Go over to watch the Financial Times video.