Posts Tagged ‘seized by regulators’

Why Have Republicans Jumped Out To Largest Lead EVER Over Democrats?

June 2, 2010

Something is building and growing.  And it is in response to the total failure of Democrat control.

June 1st, 2010
Republicans Jump Out To Historic Lead In Gallup Generic Ballot
Posted by Sean Trende

Gallup’s generic polling shows the number of voters saying that they would vote for Republicans rising three points from last week, while the number saying they will vote for Democrats dropped four pointsThe 49%-43% lead for the Republicans is the largest that the pollster has ever recorded for the partyMoreover, Democratic enthusiasm for voting this fall fell a point, while enthusiasm among Republicans stayed about fifteen points higher.  This indicates an even wider lead for Republicans once Gallup imposes a likely voter screen this fall.

There’s any number of reasons for this:  the public’s perception of Obama’s response to the oil spill, the shaky stock market performance last week, continued concern about the economy and spending.  The bottom line is that, despite what is perceived as an underperformance for the Republicans in PA-12 a couple of weeks ago, there are still plenty of Democrats in trouble for this November.

Keep up the good work, Democrats.

At the rate you’re going, there may not even BE any Democrats soon.  Because you suck, and people are starting to figure that out.

In addition to the fact that oil is pouring into the ocean at a rate that defies comprehension (we’re up to four times the calamity that the Exxon Valdez created with no end in sight), our banks that anchor our economy are bleeding out nearly as badly:

May 24, 2010
What recovery? Bank failures double this year compared to 2009

Although the federal bailout stabilized the banking system, bank failures are continuing at at rapid clip. Check out the latest federal tally. More than twice as many banks and savings and loans have been seized by regulators this year as in the same period last year: 73 in 2010, and 33 in 2009.

Banking analysts have long been warning us to expect a bumper crop of failures among small- to medium-sized community and regional banks this year. Many of the big banks that teetered on the edge of collapse had made bad bets on exotic mortgage securities. But most of the smaller banks are feeling the effects of residential mortgage foreclosures (such at the one pictured here) and, increasingly, commercial property loans going bad.

The Associated Press sums it up thus:

With 78 closures nationwide so far this year, the pace of bank failures is more than double that of 2009, which was already a brisk year for shutdowns. By this time last year, regulators had closed 36 banks. The pace has accelerated as banks’ losses mount on loans made for commercial property and development.

Now, remember that the first half of last year was the DEPTHS of the recession.  And it’s more than twice as bad this year as it was during those depths of the recession.

The only thing worse than having Republicans run things is having Democrats run things.  Only Democrats run things so much worse that America compares to a Swiss watch under Republicans.

Democrats do one thing well: they demagogue better than anybody in the world.  But lest we forget, during the period when the economy truly went into the crapper, between 2006 and 2008, it was under the total domination of Congress by Democrats.  Add that to the fact that it was Fannie Mae and Freddie Mac that created the becoming disaster for the very reasons that banks are still struggling (idiotic mortgage policies) that the Democrats owned lock, stock and barrel.

Meredith Whitney accurately predicted the economic meltdown when a lot of other “experts” were saying buy, buy, buy.

Here’s what she said in July of last year:

Unemployment is likely to rise to 13 percent or higher and will weigh on the economy for several years, countering government efforts to stabilize the banking industry, analyst Meredith Whitney told CNBC.

And a year later, does it appear that the government has stabilized the banking industry?  NOT EVEN FREAKING CLOSE!!! The factors that Whitney cited in predicting 13% unemployment are happening before your very eyes.

Looking at 13% unemployment coming up, all I can think of is Al Pacino in Scarface: “Say hello to my little friend!

As bad a year as Bush had (thanks to Democrats who refused to do anything about the mortgage security crisis created and sustained by Fannie and Freddie), unemployment was 7.6% when Bush left office.

What was it the last month statistics were available, under Obama’s, Pelosi’s, and Reid’s terrible misrule?  9.9%.  And that after a massive failed stimulus that Obama promised would keep unemployment under 8%.  Obviously, it did nothing of the sort, but our children’s children’s children’s children will still be paying off a $3.27 TRILLION black hole of debt anyway.

Did somebody say “debt”?

Tyler Durden at ZeroHedge wrote on May 25:

This means that as of this moment, assuming the new debt were to settle today, the US has $13,031,095 billion in debt: congratulation America – you have now passed lucky $13 trillion in total debt. But don’t worry, we won’t stay here for long. At the current rate of issuance, $14 trillion will be passed in 8 months, and $15 trillion in another 7. By the end of 2011, we estimate total US sovereign debt to be about $15.5 trillion.

Democrats tore into Bush tooth and nail over his increase of the national debt.  That said, it took George Bush eight full years to increase the debt by $4.89 trillion.

Right now, under Barry Hussein, it is $13.o28 trillion.  Which is to say that Obama increased the debt by more than $2.4 trillion in only fifteen months.  That will be more than $3.4 trillion in just over two years in office.  By the end of 2011, after less than three full years in office, Obama’s share of the debt will be $4.9 trillion.

Which is to say that Obama will have racked up as much debt as Bush did in eight years in only three.  Obama is increasing the debt at nearly three times the rate that Bush did.

Which goes back to what I said about Republicans being bad – unless you compare them against Democrats.

Over the past thirty years, Democrat Congresses have increased the debt 2.4 times as much as have Republican Congresses.  Another way to put it is that Democrat Congresses have spent 137.7% more than Republican Congresses.

We are hurtling toward a disaster that will create a collapse that will ultimately make the Great Depression look like a walk in the park.  The United States of America is going to completely implode – and no one will bail us out when it happens.

You want to watch your kids starve to death before your eyes?  Elect Democrats.  Because that would be the kind of “change” you can truly “hope” for.


Follow

Get every new post delivered to your Inbox.

Join 530 other followers