Day 9 (20 day story) year 2008
2008 – “Wall Street Bailout”
DOWNLOAD ART 2008 “Wall Street Bailout”
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Website: AmericanHistory2000-2012.com
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“Taking it to the streets” VIDEO 1 minute 50 seconds: Youtube / Primitive but real: https://www.youtube.com/watch?v=jAn-jx2WJ4w
“American History 2000 – 2012” VIDEO 7 minutes: http://vimeo.com/50031301
09/19/2008 – FRIDAY: US Treasury Secretary Henry Paulson Former CEO of Goldman Sachs debuts a 2-½-page plan unveiling our economic catastrophe. The plan is to bail out Wall Street by giving them $700 Billion U.S.D. Congress is given a one-week deadline to agree to this debt to the American people.
09/24/2008 – WEDNESDAY: Bush WARNS the Nation; failure to act quickly could result in a long and painful recession!
09/29/2008 – MONDAY: “Bailout” plan rejected. The DOW looses 777 points, the biggest one-day point decline ever. Approximately $1.2 Trillion U.S.D. market value evaporates. The wealth of American families plunged nearly 18% in 2008.
The 2008 stock market crash was the WORST decline since 1931.
10/03/2008 – FRIDAY: Wall Street Bailout Approved: Signed G.W. Bush.
The “Wall Street Bail Out” shocked, awed and squeezed the American people again, financially and emotionally. The money the banks received was NOT provided to the banks customers. For the next few years it was a charade to try and get a loan.
Question: If we had given the bailout the week before would the stock market have evaporated $1.2 Trillion U.S.D. market value assets?
2008 – Obama wins Presidential election. His slogan “Yes We Can”! inspires people for change. Good Luck! This is what you inherited!
2008 – War spending in Iraq and Afghanistan peak in 2008. Obama inherits the war debt and new military/Homeland Security service and equipment contracts that Bush committed to the War on Terrorism.
2008 – Gas Prices $1.61 – $4.11 Exxon Mobil breaks its own record with $45.2 Billion U.S.D. in PROFIT.
2008 – 1,117,771 bankruptcies are filed. Unemployment peaks at 8,924,000 but will jump to 14,265,000 in 2009.
2008 – One U.S.D. is worth .75 cents compared to $1.U.S. $ in 2000.
2008 – 9.2% of all U.S. mortgages outstanding were either delinquent or in foreclosure
2008 – Lenders began foreclosures on nearly 2.3 million properties. An 81% increase over 2007.
2008 – The U.S. Imprisons more people than any other country.
2008 – The economy just crashed and burned.
NOTE: Federal Reserve Chairman Ben Bernanke enlightened us that between 1996 and 2004, the USA current ACCOUNT deficit increased from 1.5% to 5.8% of GDP (Gross Domestic Product). Financing these deficits required the USA to borrow large sums from abroad, much of it from countries running trade surpluses, mainly the emerging economies in Asia and oil-exporting nations.
QUESTION: Is the GDP debt because products we use are now made overseas and we have to import them?
QUESTION: Whose debt is the GDP, Government or Corporations?
QUESTION: Who is making the decisions on what the USA is producing and exporting, Government or Corporations?
QUESTION: Are we in-debt to oil-exporting nations because the Military Industrial Complex, Oil Industry and Banking conglomerations want control? Is this debt part of the War on Terrorism?