Ex 20:17 Thou shalt not covet thy neighbour's house, thou shalt not covet thy neighbour's wife, nor his manservant, nor his maidservant, nor his ox, nor his ---, nor any thing that is thy neighbour's.
Ex 20:18 And all the people saw the thunderings, and the lightnings, and the noise of the trumpet, and the mountain smoking: and when the people saw it, they removed, and stood afar off.

What happens when we try to live like others that have more than we do - when we COVET and ENVY what GOD has blessed others with? What happens when banks are FORCED to become "predatory lenders" - by FEDERAL GOVERNMENT MANDATE - to make loans to people who can not pay them back? What happens when banks and lending institutions are sued for not making enough "Affordable Home Loans" to people who have no business paying for houses they could not afford and could not get a loan otherwise based on their bad credit or low income? What happens when a "Government Sponsored Enterprise" tells Mortgage Brokers to sign as many sub-prime loans up as possible? And most of all, what happens when efforts to regulate the practice is defeated time after time over the course of several years just to preserve one political party's throat hold on their blind sheep voters?



Watch the this video - it is a long one, but you will finally UNDERSTAND what the cause of this was, when it started, and who kept it going. And did any one of us actually listen to those warning us?



So time to wake up, America. This is the first major salvo of destruction fired from a cannon by our very own politicians, and there are more to come!



Link: http://www.youtube.com/watch?v=1MDBnvDGms0

May the BLESSED LORD OF ALL CREATION AND SAVIOR, JESUS CHRIST, have mercy on the United States of America.

gr82bsaved

Bump!

I have had a big time thought...I havent been able to shack, I feel this was plained for, sceams made to force this about....why? But to force the down fall of our country in this matter! I had this thought as well, that when the banks went on the hunt, they went after those that wasnt even in deat, going after their homes, getting them to lose them as well....by refinacing them once again!

I keep thinking trap, it is a trap! they have to trick and trape those with the money inorder to in the long run get them to than summit to they will later, like getting the mark, so they can start to buy or sale!
If the banks are taken over by others, and other countrys buys us up, than what? It is a big mass that those that couldnt see that it was a trick, based on the face that they struggle with this sin of coveting, big time!

You are very right!

Great info, Todd. Thanks for posting.

Amen brother!

bump

bump...bump...bumpity bump!

Thanks! That was great!

why didn't the BIG MEDIA explain this to us?
BECAUSE
any journalist who hurts the Dems will never get another interview from any Dem...........same for the repubs

so, the Politicians control (and terrorize) the Press

NANCY PELOSI refuses to be on FOXNEWS

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why didn't the Repubs (bush, mccain, palin, etc) explain this to us?..........i don't know..........are they afraid of the Dems? ....and the public?


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Thank God for DRUDGEREPORT for posting this video..........thanks to GR82BSAVED

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the repubs are not innocent..........they support the entitlements (social security, medicare, etc)..........which have bankrupted and destroyed the nation

the repubs support the preaching-of-evolution to school-children,,,,to turn the children away from Christ/Bible

so, the repubs can't preach PROPERTY RIGHTS............they've already destroyed our PROPERTY RIGHTS

HENCE, THE GREAT TRIB WILL START SOON

Yes, it is true, Dennis. The press is in it completely.

I hope more and more people see the video and start commenting on it. It is important to know where these things start so that we do not repeat history...

Hoping for the best, warning about the worst!

Watch out for this character:

Click to view attachment

gr82bsaved

Watch the video....watch...the..video...

Click to view attachment

watch...the...video...don't..blame...the...democrats...blame...others...like...John...McCain...Yes...McCain....Blame
...him...you...are...getting...sleepy...sleepy...you...are...going...to...vote...for...hope
...vote...for...me...I...am...the...god...of...hope........................................
.....zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

Here is the video in case you did not see it:



gr82bsaved

Watched the video and I am so ticked off right now.

This needs to be known by every American.

The Democrats are so evil. And it scares me that some people in this country have the right to even vote.

There should be a test that people have to take to see if they understand the history of our country and how the Government works before they are allowed to even cast a vote.

g2bs...

Do you have a direct link to that video?

Oh, so ture....sounds like what my hubby says!

Hi Peacemaker...

Sounds like you have a smart hubby.

I ment to say....people should be given a test TO SEE if they understand about the history of our country and how our Government works before they are even allowed to vote.

I think those who don't have a clue should be banned from voting.

It really is scary to think that so many idiots have the right to vote.

Interesting that the video is no longer available. Geesh! I think you scared them so much that they hid the video.

Bummer, cause I didn't get to see it.

I found it again and put it up on the original post. Plus, I included the link as well.

Here is one other video I have included here as well I found last night - new info and very informative:



Link: http://www.youtube.com/watch?v=_MGT_cSi7Rs

This video is long, but contains the best set of clips and info I can find about the housing crisis. Please watch the whole thing (it is long).

Another video with a timeline on Fox News about the Bush Admin trying to warn about the impending crisis:

http://www.youtube.com/watch?v=cMnSp4qEXNM

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Please look at my new topic about the Democrats talking about taking your 401(K)s away - literally! If Obama were to get into the White House, and the Dem's control the House and Senate, then we will see our 401(K)s become government property since we will be compelled to participate in the "Guaranteed Retirement Benefit" program. Then your 401(K) contributions will no longer come from pre-tax dollars. This is the Democrats plan to "save" Social Security:

(http://www.christian-forum.net/index.php?s=&showtopic=25011&view=findpost&p=252666)

There was a hearing conducted on Oct 7th, 2008 and the House Dem's recevied testimony from a Professor named Teresa Ghilarducci who believes that 401(K)s have done nothing but allow those making over $100,000 to pay less income tax than people making less. That is not true, really. Small businesses can deduct more than most, but small business owners like myself take a huge risk going out on their own. It is also those same people who end up hiring people as their businesses grow. The Solo 401(K) provides for a higher contribution limits than traditional 401(K)s, but there are limits about who can be a part of it. It is also only aimed at sole proprietors and LLC owners - in other words, small businesses on Main Street:

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Update!

Here are some links I found regarding this plan. You will see the entire plan when you read through these links. The Money Magazine article does not present ANY useful information, really. It is more of a puff piece since it does not explore the proposal by economics professor Teresa Ghilarducci - the brainchild of this concept. You can thank her yourself at ghilardt@newschool.edu.
Her view is that the Government should be able to guarantee retirement for all people, since other countries have been able to do it. Of course, the "other countries" are all socialist with very high taxes. She does not mention that. Last article I posted is the most informative, beside the oral testimony she gave on Oct 7,2008.

Money Magazine article:
http://money.cnn.com/2008/04/22/pf/retirem...eymag/index.htm

Here is the actual oral testimony given on Oct 7, 2008 to Congress:
http://www.house.gov/ed_workforce/testimon...Ghilarducci.pdf

Very good article on this issue at

http://www.workforce.com/section/00/article/25/83/58.php

House Democrats Contemplate Abolishing 401(k) Tax Breaks
Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.
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October 16, 2008
House Democrats Contemplate Abolishing 401(k) Tax Breaks
Powerful House Democrats are eyeing proposals to overhaul the nation’s $3 trillion 401(k) system, including the elimination of most of the $80 billion in annual tax breaks that 401(k) investors receive.

House Education and Labor Committee Chairman George Miller, D-California, and Rep. Jim McDermott, D-Washington, chairman of the House Ways and Means Committee’s Subcommittee on Income Security and Family Support, are looking at redirecting those tax breaks to a new system of guaranteed retirement accounts to which all workers would be obliged to contribute.

A plan by Teresa Ghilarducci, professor of economic-policy analysis at the New School for Social Research in New York, contains elements that are being considered. She testified last week before Miller’s Education and Labor Committee on her proposal.

At that hearing, the director of the Congressional Budget Office, Peter Orszag, testified that some $2 trillion in retirement savings has been lost over the past 15 months.

Under Ghilarducci’s plan, all workers would receive a $600 annual inflation-adjusted subsidy from the U.S. government but would be required to invest 5 percent of their pay into a guaranteed retirement account administered by the Social Security Administration. The money in turn would be invested in special government bonds that would pay 3 percent a year, adjusted for inflation.

The current system of providing tax breaks on 401(k) contributions and earnings would be eliminated.

“I want to stop the federal subsidy of 401(k)s,” Ghilarducci said in an interview. “401(k)s can continue to exist, but they won’t have the benefit of the subsidy of the tax break.”

Under the current 401(k) system, investors are charged relatively high retail fees, Ghilarducci said.

“I want to spend our nation’s dollar for retirement security better. Everybody would now be covered” if the plan were adopted, Ghilarducci said.

She has been in contact with Miller and McDermott about her plan, and they are interested in pursuing it, she said.

“This [plan] certainly is intriguing,” said Mike DeCesare, press secretary for McDermott.

“That is part of the discussion,” he said.

While Miller stopped short of calling for Ghilarducci’s plan at the hearing last week, he was clearly against continuing tax breaks as they currently exist.

Savings rate
“The savings rate isn’t going up for the investment of $80 billion,” he said. “We have to start to think about ... whether or not we want to continue to invest that $80 billion for a policy that’s not generating what we now say it should.”

“From where I sit that’s just crazy,” said John Belluardo, president of Stewardship Financial Services Inc. in Tarrytown, New York. “A lot of people contribute to their 401(k)s because of the match of the employer,” he said. Belluardo’s firm does not manage assets directly.

Higher-income employers provide matching funds to employee plans so that they can qualify for tax benefits for their own defined-contribution plans, he said.

“If the tax deferral goes away, the employers have no reason to do the matches, which primarily help people in the lower income brackets,” Belluardo said.

“This is a battle between liberalism and conservatism,” said Christopher Van Slyke, a partner in the La Jolla, California, advisory firm Trovena, which manages $400 million. “People are afraid because their accounts are seeing some volatility, so Democrats will seize on the opportunity to attack a program where investors control their own destiny,” he said.

The Profit Sharing/401(k) Council of America in Chicago, which represents employers that sponsor defined-contribution plans, is “staunchly committed to keeping the employee benefit system in America voluntary,” said Ed Ferrigno, vice president in the Washington office.

“Some of the tenor [of the hearing last week] that the entire system should be based on the activities of the markets in the last 90 days is not the way to judge the system,” he said.

No legislative proposals have been introduced and Congress is out of session until next year.

However, most political observers believe that Democrats are poised to gain seats in both the House and the Senate, so comments made by the mostly Democratic members who attended the hearing could be a harbinger of things to come.

Advice at issue
In addition to tax breaks for 401(k)s, the issue of allowing investment advisors to provide advice for 401(k) plans was also addressed at the hearing. Rep. Robert Andrews, D-New Jersey, was critical of Department of Labor proposals made in August that would allow advisors to give individual advice if the advice was generated using a computer model.

Andrews characterized the proposals as “loopholes” and said that investment advice should not be given by advisors who have a direct interest in the sale of financial products.

The Pension Protection Act of 2006 contains provisions making it easier for investment advisors to give individualized counseling to 401(k) holders.

“In retrospect that doesn’t seem like such a good idea to me,” Andrews said. “This is an issue I think we have to revisit. I frankly think that the compromise we struck in 2006 is not terribly workable or wise,” he said.

On Thursday, October 9, the Department of Labor hastily scheduled a public hearing on the issue in Washington for Tuesday, October 21.

The agency does not frequently hold public hearings on its proposals.


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As I have mentioned in numerous topics and posts, this is yet another preaching of the Envy and Coveting doctrine the Democrats are famous for. Look at the examples given by the Professsor (Page 9 of her testimony):

"Pension tax breaks are deductions from income; high-income earners get more
breaks than low-income workers. If a lawyer earning $200,000 makes a $1000
contribution to his 401(k) plan, he reduces his income tax by $350. If his receptionist,
earning $20,000, makes the same $1000 contribution (which is much less likely), she will
save only $150 in taxes. The Brookings Institution and Urban Institute calculate that the
3% of taxpayers with incomes over $200,000 per year get 20% of the tax subsidies."

This is what I am saying: If someone makes more, they get a bigger deduction. But the higher earner is also paying more in taxes over all! The amount of the deduction is larger (by only $200 - big whoop!), but the higher income earner is already paying an income rate of 35% on the income he earns. The $20,000 secretary is not paying ANY income tax at all in today's tax structure.

Envy and coveting. This also what Obama is preaching as well. The Democrats think - all of them! - that people who make more should not be allowed to take advantage of tax breaks at all. Notice what the Professor does not seem to mention at all:

1.) The lawyer making $200,000 is also paying for employees salaries, benefits and time off. That is a cost which is more than just what the employee sees in her paycheck.

2.) The lawyer is providing a stable, steady job. Again, the employee is not out on her own.

3.) The lawyer is the one who has the expensive education, took on the loans and costs of getting that education, and also the risks of obtaining the education. It takes years to pay back student loans (took me over five years to pay off all of mine), and yet the lawyer and his family still have to pay a mortgage, household bills, etc. In addition, there are office expenses to pay for, rent, and other cash outlays that the Professor and the Democratic Congressmen are not looking at. And the fact that the lawyer - heck, anyone at all in business - can deduct his contributions to his 401(K) plan makes being in business an excellent way to reduce the amount of taxes that the lawyer has to pay. That helps in one other important area - CAPITAL FORMATION.

Capital formation is what makes the business world run. It is what provides the jobs. It funds the growth of ideas from concept to reality. Capital formation is the flesh and bone of capitalism, and the engine that drives the economy. Taxing capital means less is available for job creation and job growth.

I am not an economics professor at some liberal college on the East Coast. But even I know that when the people who make more get taxed more then the people who may be working for them will receive less. It is a directly porportional relationship - less money for the boss means less money for the employee. Pretty simple, really. How does the esteemed Professor not get that? How do the Congressmen who are intrigued not understand that? It is simply because they are against the Capitalistic system itself. Plain and simple. They want a "level playing field" for everyone.

You must realize that the Obama tax plan, which Obama says "grows the economy from the bottom up", is an attempt to enrich the lower and middle class by making the upper class of earners more like those in the middle. In reality, the lower and middle classes do not become richer, but the upper class of earners become poorer. That is the Democrat's way of "leveling the playing field" through envy and coveting. "Working families" as the Dems like to call us (as if those making over $250K per year DON'T WORK) don't become "richer"; we either get a $500 to $1000 check, or a "tax cut" paid for by taxing our employers higher amounts and then redistributing the confiscated wealth to others.

Now, the Dem's in Congress want to put the Government in charge of your retirement plan, force you to participate and confiscate your 401(K) accounts in the process. This is all in the face of the current credit crisis. All because Barney Frank, Christopher Dodd, Maxine Waters, and other long time, liberal Democrats protected the policies of predatory lending encouraged by Fannie Mae and Freddie Mac to benefit their friends and Barney Frank's "boyfriend" who worked there! Only a very small percentage of those sub prime loans "guaranteed" by Fannie and Freddie - something like 3 to 5% - have gone into default, but it was enough to cause the capital accounts of the banks that bought the securities (because they trade them to make a profit) that back up those properties to erode quickly enough to cause those banks to look like they were insolvent "on paper". This happened because of the Market to Market accounting policies implemented by the Security and Exchange Commission on Nov 2007.

Now do you folks see what happened? Now do you understand why GOD said in the Tenth Commandment that we should not "Covet thy neighbors house..."? Envy and coveting leads to destruction of freedom, which leads to government control of lives.

Please do not vote for Obama or any Democrat this election cycle. If you do, you are dooming this country.

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Blessings to you all in JESUS NAME!

gr82bsaved