Obama and Da Bling

How is it possible that the tide of the current election is swinging in Obama's favor based on the stupid Americans and their belief that he has better solutions to the economic crisis? To be clear, the current polling trends show that Americans believe Obama to be the stronger candidate on the economy, and that as the economy becomes their number one concern, they are turning to him.

Here's just one: http://www.cnn.com/2008/POLITICS/09/22/cnn.poll/

Of course, the case of the current economic crisis, sub prime lending and the epidemic of foreclosures that resulted are the cause of all our problems. Most economic situations don't break down so simply. This one does. Bad loans were made to people who didn't qualify, loans so preposterous in their design that they must fail, balloon loans, ARMs, 100% financing. Those bad mortgages were then allowed to be sold as securities due to a 1999 deregulation sponsored by Clinton and Senator Phil Graham and Obama's economic advisor, Robert Rubin. Was that smart? Not if mortgages are unstable investments, which they aren't, when they are hard to get.

Increased imports from China had kept prices unnaturally low on goods, keeping inflation artificially low, while investors and house flipping had driven housing prices up unnaturally high. But we have not yet made a crisis. We've only set the stage for one. If lending regulations had gone into place, fewer people would have been able to buy homes, and fewer people would now be defaulting on their loans.

So here in this witches brew is disaster in the making, and who made certain that disaster happened? Democrats. And did so in a way that would lead smart people to immediately oust them from office. I'm not a fan of youtube, but I am going to make an exception for footage from one of several attempts to regulate Freddie Mac and Fannie Mae. Not four years ago, Democrats insisted that Freddie and Fannie were fine. We know they were not fine.


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

Rep. Gregory Meeks in particular makes me want to vomit. I'd like to believe he's stupid instead of crooked. But he's still in office. So the people of New York, I blame you.


I understand the motivation of those senators. Freddie and Fannie made more home loans to minorities than ever before. This is a worthy cause, when it lines up under the auspices of non discriminatory lending. But what is has turned into is a 700 billion dollar bailout, a world wide recession that will last for years, and a whole lot of minorities tossed out of their homes.

Thinking something ought to be true does not make it true. People ought to have homes, all people, of every race, creed, and color. But if they can't pay for them, and have demonstrated this by not paying the bills they have had in the past, then they can't buy a house. This is the truth that Freddie Mac and Fannie Mae ignored, with great determination and the support of Democrats, including, and notably Barrack Obama.

You see, Republicans are rich people. And people get rich by keeping businesses going, usually by getting people to pay them back the money they lend them. Repubicans are Republicans because they know money. Democrats are Democrats because they care about poor people. Republicans will let people die in the streets. Democrats will give everything you have to the poor.

Let me be clear. I am completely non partisan. I hate both political parties with a fervor I usually reserve for child rapists. I have no desire to come to the defense of anyone. But this blatant American stupidity is more odious to me than the parties. Americans, get your collective heads out of your collective asses.

Vote for Obama if you like his positions on abortion, gun control, or Iraq. If you care about immigration, don't bother. Both platforms are identical. But if the motivating factor for you is the economy, sorry. It has to be McCain. Any thing else is just pure idiocy.