February 25, 2008

Greetings from Tyler,

The United States of America has shed nearly fifty percent of its wealth in just the last four months. The series of mortgage defaults and bank failures were the result of attempted social engineering on the part of bureaucrats supposedly responsible for regulating financial institutions and insuring their solvency. The unwise loans the lending institutions were intimidated into making had the legitimacy of government backing and were bought and sold as "rock solid" investment vehicles for savings and retirement plans here in the U.S., and were also packaged as "derivatives" and traded around the globe.

The house of cards began to collapse as banks, brokerages and insurance companies began failing late in the second term of the Bush administration. President Bush was intimidated into demanding support for the first $700 billion "emergency bailout" by his own Treasury Secretary, Henry Paulson, who warned that the entire worldwide financial system would grind to halt if this mind-numbing sum were not immediately appropriated. Congress went along after being persuaded that the financial system would simply cease to function if the action was not taken.

By all accounts, the bailout failed to achieve the objective of restoring liquidity to the markets. Some claim that untold billions are not even accounted for, and even the experts have no answers. The stock market, with its inherent fluctuations, continued its dramatic slide. People who've carefully contributed month in and month out to investment and retirement funds have lost a decade or more of their savings, but the government is not through with us yet.

This week, another massive, unbelievable sum was signed into law "with not a moment to spare," brimming with more social and political engineering. To call it frivolous would be an understatement. Pure unadulterated corruption with an air of arrogant chutzpah is more like it. (This is democracy?) The "stimulus plan" carries a price tag in excess of $800 billion, and for your own sanity you better hope never to comprehend what has just transpired. But it's only the first step!

Today, Feb. 25, another $400 some odd billion awaits the President's signature, crammed full of so-called "earmarks," reportedly eight thousand of them, to fund completely unnecessary projects in the districts of politicians who believe the expenditures will contribute to their chances for reelection. Is this how we, as a nation behave in the midst of crisis? Does this news not betray all the talk of imminent catastrophe? If you're head over heels in debt, the obvious move is to borrow every dime you can get your hands on, right? And spend it on birdbaths, flat screens and jewelry, right?

In essence, that's what the United States has just done. Our leaders are telling us they must act on an emergency basis to save America, and seemingly have no shame when the details are exposed. And the heads of the banks and brokerages, recipients of "bailout money" are behaving similarly, squandering untold millions on luxurious trips and banquets. This kind of behavior on the part of any individual facing crushing debt and insolvency would lead directly to skid row. when the national borrowing and requisitioning of nonexistent trillions reaches its limit, we will discover the true meaning of the words "economic meltdown." Until then, this drunken orgy of spending will apparently continue, because the politicians "have no choice"!

What we are seeing unfold at lightning speed is an enactment of nearly all the worst fears expressed by our founders. It represents an exertion of government without any semblance of limitation. Americans, with the exception of maybe thirty percent or so, have no clue what's happening or why. Nor do they care! A majority is living for the moment, consumed with short-term wants and needs.

The so-called "war on terror" has been essentially shut down. The new female head of Homeland Security has even refused to use the word "terror" in her congressional testimony. It seems we mustn't offend the sensibilities of those who'd behead us all if they could.

At a time when Iran is expected to be able to field nuclear weapons within a year or less; when known terrorist factions are establishing outposts to our south; when Middle Eastern aliens are being apprehended coming across our southern border and released; America is turned inward. Politicians are making out like bandits with the earnings of those yet unborn, and we're subjected to a self-righteous arrogance formerly found only in religious settings. Do you begin to get the sense this is all coming to a head?

It's becoming unavoidably plain, man's government is simply a recipe for disaster. Our Constitution, capitalism and democracy sustained us for two hundred thirty years, but it's all. compromised now, probably beyond retrieval. we have to look soberly ahead, now as never before. Neither my Granddad nor my Dad ever dreamed it would take this long to play out. But here we are, and we surely must be reaching our limit in terms of blind, wasteful consumption. America's enemies are advancing, Israel is in imminent jeopardy and we're partying like it's 1999.

If you follow the weekly updates, you know that the Garner Ted Armstrong program continues to produce great results, particularly with first time responders and the witness and warning continues to go forth as resources allow. God help us all in the months and years ahead! You'll benefit tremendously if you request the GTA CD we're offering this month, Corrective Spiritual Surgery.

Sincerely