Dear Senator Obama. The US economy is in the worst economic crisis in decades, arguably since the great depression. Housing is collapsing, state budgets are in shambles, unemployment is soaring, and the US dollar is sinking.



Things are going to get even worse when the commercial real estate bust picks up steam. We have seen six bank failures already this year. There are 90 more banks on the problem list. Many of them will fail.



Meanwhile, Treasury Secretary Paulson and President Bush are both stressing "The U.S. economy is fundamentally strong, diverse and resilient." Indeed, Paulson speaks of the "strong dollar policy" at every opportunity.



The vast majority of citizens in the United States know that the above statements by President Bush and Paulson are lies.



What we really need is for politicians to face the public and state the truth.



The Truth Is Easy To See



The US can no longer afford to be the world's policeman.

Congress has been spending beyond its means.

Deficit spending is cheapening the US dollar.



Cutbacks and sacrifices have to be made.



Interest On The National Debt Is $377 Billion

US Banking System Is Unsound

25. Of the $6.84 Trillion in bank deposits, the total cash on hand at banks is a mere $273.7 Billion. Where is the rest of the loot? The answer is in off balance sheet SIVs, imploding commercial real estate deals, Alt-A liar loans, Fannie Mae and Freddie Mac bonds, toggle bonds where debt is amazingly paid back with more debt, and all sorts of other silly (and arguably fraudulent) financial wizardry schemes that have bank and brokerage firms leveraged at 30-1 or more. Those loans cannot be paid back.



What cannot be paid back will be defaulted on. If you did not know it before, you do now. The entire US banking system is insolvent.

Congress Must Be Held Accountable

The 100 Year's War

Horrendous Ethanol Policies

Why We Are In This Mess

Biggest Party Wall Street Ever Had

The Problem Cannot Be The Solution

We are a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market.

exists to expand affordable housing

The Fed Uncertainty Principle

The Cure

The US can no longer afford to be the world's policeman.

Congress has been spending beyond its means.

Deficit spending is cheapening the US dollar.



Cutbacks and sacrifices have to be made.

A New Economic Advisor

The Nation Needs Healing

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