[Greg10036]

I look at the Lehman situation as a good sign that the good ole boy system has hit the skids. They have run out of money to bail each other out and are starting to feed on their own dead corpses to keep solvent such as the Bank America buyout of Merrill Lynch. Freddy and Fannie would have bellied up also had not the EU screamed at Wall street and Bernake to do something about it so that they would not tank. The really bright side of this is two things.

1) For the first time in US history, our economy is teasing itself from the Laws of Admiralty that link perpetual US debt to the Bank of England and it's hedge funding which is estimated at 60 trillion dollars US. The whole point of the Federal Reserve is to hide that hedge funding from the world. I wont go into a diatribe about how we could end world hunger etc if that kind of money were available to the world. Suffice to say, this is a good thing to see disappear.

2) Another thing happening at the state level is that most state governments are solvent. We just had a massive tax break in Indiana on the heels of this mortgage Ponzi scheme being exposed and this has to do with the states distancing themselves from the Federal banksters. There are also several states developing their own mints to create their own money. On a state level we are healthy. The reason for this is that states are bracing themselves for a competitive inter-state level of commerce once the federal government bellys up. The state leaders know it is coming.

I remember about 12 years ago when Warren Rudman, who was one of the authors of the Gramm-Rudman-Hollings deficit reduction law had just finished 12 years in the Senate. He was on Jim Lehrer's Report. Lehrer asked Rudman if he was frustrated he did not get anything done while in the senate. Rudman calmy responded that the US was heading towards a federal bankruptcy. He said it would be unique in that the federal government would bankrupt, but not regional government. From what I am seeing, Rudman's prophecy is starting to jell. This does not mean we will not have hard times, but if Americans stick together we can come out of this with something better that will allow us to fulfill the constitutional principles upon which this country was founded. Keep the faith. Love and Peace.
Greg