US Is in Even Worse Shape Financially Than Greece. And Why Is That In The Age Of Obama???

Thanks for “fundamentally transforming” our economy, Barry Hussein!

We’re constantly being told that Obama has done a great deal to make our economy stronger.  Because who wouldn’t rather have 9.1% unemployment than that 7.6% that Obama started out with.

The thing that most killed the US economy in 2008 was the sheer weight of godawful subprime mortgages that Democrats imposed on Fannie Mae, Freddie Mac and all the other mortgage lenders in order to create more “fairness” and allow everyone (especially racial minorities) to have “the right” to own a home whether they could actually afford to do so or not.  Fannie Mae and Freddie Mac were “Government Sponsored Enterprises,” all the investors knew.  So even as Fannie and Freddie began bundling together thousands of riskier and ever riskier mortgages into giant mortgage backed securities to advance Democrat-enacted policies, large investment houses continued to gobble them up.  After all, this was an arm of the United States Government – and the United States Government ALWAYS pays its debts.

Like all scams, it worked for a while.  But as soon as there was a correction in the dramatically overvalued housing market, the whole boondoggle began to implode.  And since Fannie and Freddie had bundled all kinds of bad mortgages in with the good ones, there was absolutely no way for anyone to know how much risk was contained in any of these giant investment vehicles all these giant private banking houses found themselves holding.

And suddenly the perception that Government Sponsored Enterprises Fannie Mae and Freddie Mac were “safe investments” turned into a “misperception.”  And the fecal matter began to hit the rotary oscillator bigtime.

Fannie and Freddie were the first to collapse.  The big private players who had played ball with them shortly followed.

President George Bush tried SEVENTEEN TIMES to reform Fannie and Freddie when there was actually a chance to do something.  Go back to what the New York Times stated in 2003:

WASHINGTON, Sept. 10—  The Bush  administration today recommended the most significant  regulatory  overhaul in the housing finance industry since the savings  and loan  crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new   agency would be created within the Treasury Department to assume   supervision of Fannie Mae and Freddie Mac, the government-sponsored   companies that are the two largest players in the mortgage lending   industry.

The new agency would have the authority, which now rests with   Congress, to set one of the two capital-reserve requirements for the   companies. It would exercise authority over any new lines of business.   And it would determine whether the two are adequately managing the risks   of their ballooning portfolios.

Republicans were demonized for “deregulation” by the dishonest Democrat Party machine.  But they TRIED to regulate what needed to be regulated.  Democrats stopped them.

Many Republicans like John McCain literally begged Democrats to do something before it was too late.  But Democrats threatened to filibuster any bill that in any way prevented Fannie and Freddie from continuing the reckless economy-killing policies.  Conservative economists such as Peter Wallison had been predicting the Fannie and Freddie boondoggles would cause an economic collapse since at least 1999.  Wallison had warned back then:

 In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980′s.

From the perspective of many people, including me, this is another thrift industry growing up around us,” said Peter Wallison a resident fellow at the American Enterprise Institute. ”If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.”

But rigid opposition from Democrats – especially Democrats like Senator Barack Obamawho took more campaign money from Fannie and Freddie and dirty crony capitalism outfits like corrupt Lehman Bros. than ANYONE in his short Senate stint – prevented any “hope and change” of necessary reform from saving the US economy.

The timeline is clear: Fannie Mae and Freddie Mac were giant behemoths that began to stagger under their own corrupt weight, as even the New York Times pointed out:

Fannie Mae and Freddie Mac are so big — they own or guarantee roughly half of the nation’s $12 trillion mortgage market — that the thought that they might falter once seemed unimaginable. But now a trickle of worries about the companies, which has been slowly building for years, has suddenly become a torrent.

And it was FANNIE and FREDDIE that collapsed FIRST before ANY of the private investment banks, which collapsed as a result of having purchased the very mortgaged backed securities that the Government Sponsored Enterprises SOLD THEM.  It wasn’t until Fannie and Freddie collapsed that investors began to look with horror at all the junk that these GSE boondoggles had been pimping.

The man who predicted the collapse in 1999 wrote a follow-up article titled, “Blame Fannie Mae and Congress For the Credit Mess.”  It really should have read, “Blame DEMOCRATS.”  Because they were crawling all over these GSEs that they had themselves created like the cockroaches they are.  But Wallison is nonpartisan.

That same New York Times article that said President Bush was trying to reform Fannie Mae and Freddie Mac ended with this demonstration of Democrats standing against necessary reform:

These two entities — Fannie Mae and Freddie Mac —  are not  facing any kind of financial crisis,” said Representative  Barney Frank of Massachusetts, the ranking Democrat on the Financial Services  Committee. ”The  more people exaggerate these problems, the more  pressure there is on  these companies, the less we will see in terms of  affordable housing.”

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

”I don’t see much other than a shell game going on here, moving   something from one agency to another and in the process weakening the   bargaining power of poorer families and their ability to get affordable   housing,” Mr. Watt said.

Why was Barney Frank deceitfully claiming that Fannie and Freddie weren’t facing “any kind of financial crisis”?  BECAUSE REPUBLICANS WERE RIGHTLY WARNING THAT THEY WERE.

Only about a month before the whole Fannie and Freddie boondoggles Democrats had fiercely protected collapsed – taking the entire US economy with it – Democrat Barney Frank was on the record saying THIS:

REP. BARNEY FRANK, D-MASS.: “I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. They’re not the best investments these days from the long-term standpoint going back. I think they are in good shape going forward.”

So we blew up nearly COMPLETELY BECAUSE OF DEMOCRAT POLICIES.  But Democrats along with an ideological mainstream media that is the worse since Joseph Goebbels was the Nazi Minister of Propaganda were ready.  They ran on a platform that it happened while Bush was president, and that therefore Bush was entirely responsible for the thing he tried over and over again to fix while Democrats used their power to block those efforts.

Let me just say “Franklin Raines.”  Raines as Fannie CEO presided over Enron-style accounting policies and got $90 million in his account because of those corrupt policies.  But Raines was the first BLACK CEO of Fannie Mae.  And even though he was a Democrat and a Clinton guy, President Bush lacked the courage to push the “first black Fannie Mae CEO” out.  Which of course is the same reason that the “first black Fannie Mae CEO” didn’t do hard time in prison where he belonged.  “Political correctness” is a demonic device by which liberals protect themselves – usually from going to prison where they ought to go.  He got a sweetheart deal basically so Republicans wouldn’t be accused of being racists by
Democrats who of course call them racists no matter what they do.  My main point is simply that it was Democrats, Democrats, DEMOCRATS who did this to us.

Fannie Mae was well politically-connected Democrats went to make millions as they bounced back and forth between “public” employment where they developed contacts and “private” crony capitalism to get rich.

Here’s the conclusion of New York Times financial markets writer Gretchen Morgenson about DEMOCRAT Jim Johnson:

Morgenson focuses on the managers of Fannie Mae, the government-supported mortgage giant. She writes that CEO James Johnson built Fannie Mae “into the largest and most powerful financial institution in the world.”

But in the process, Morgenson says, the company fudged accounting rules, generated big salaries and bonuses for its executives, used lobby and campaign contributions to bully regulators, and encouraged the risky financial practices that led to the crisis.

And of course DEMOCRAT Jim Johnson who got rich plundering Americans was an OBAMA Democrat.

Morgenson – again a New York Times writer and not someone from Fox News – said of Fannie Mae on Larry Kudlow’s CNBC program on Monday, June 13: “Whatever Fannie Mae did, everybody else followed.”  And of course they all followed right into an economic Armageddon created by Democrats for Democrats.

But who got blamed?  Republicans, of course.  George Bush and Republicans were to Obama and the Democrats what Emmanual Goldstein was to Big Brother in 1984.  George Bush and Republicans were what the Jews were to Adolf Hitler.  Fascists always need a bogeyman.  And so the people who were truly to blame turned the people who tried futilely to stop them into the scapegoats.  All with the mainstream media’s complicity.

The analogy would be holding the police officer who tried but failed to catch the rapist for the rape of the woman rather than holding the actual rapist who raped her responsible.  But it was easier to say “This is the result of President Bush’s failed Republican policies” than it was to actually explain the facts to an enraged Attention Deficit Disorder-ridden ignorant pop culture – particularly when virtually no one in the biased mainstream media had any intention whatsoever of telling the truth.

Barack Obama – the ACORN community organizer who pushed these very America-killing policies – ran a demagoguing campaign promising to fix everything.

But has he?

How about a great big giant “NOT”???

What has Zero Obama done to fix that housing market that he helped collapse?  How about NOTHING???  After nearly three years of Obama, housing isn’t the worst since 2008; it’s gotten WAY WORSE than 2008 and is the worse since the Great Depression!!!  Obama started out with a terrible plan.  And we have terrible results to show for his terrible plan.  And yet this disgraceful fool actually keeps claiming he’s made things better!!!

Before you read this article, check out the “current account balance” compiled by the CIA.  Ours is a negative figure that dwarfs everyone else’s by so much it’s a joke.  Which is to say that Gross’s assessment is 1000% correct.

US Is in Even Worse Shape Financially Than Greece: Gross
Published: Monday, 13 Jun 2011 | 10:33 AM ET
By: Jeff Cox
CNBC.com Staff Writer

When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.

Much of the public focus is on the nation’s public debt, which is $14.3 trillion. But that doesn’t include money guaranteed for Medicare, Medicaid and Social Security, which comes to close to $50 trillion, according to government figures.

The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show.

Taken together, Gross puts the total at “nearly $100 trillion,” that while perhaps a bit on the high side, places the country in a highly unenviable fiscal position that he said won’t find a solution overnight.

“To think that we can reduce that within the space of a year or two is not a realistic assumption,” Gross said in a live interview. “That’s much more than Greece, that’s much more than almost any other developed country. We’ve got a problem and we have to get after it quickly.”

Gross spoke following a report that US banks were likely to scale back on their use of Treasurys as collateral against derivatives and other transactions. Bank heads say that move is likely to happen in August as Congress dithers over whether to raise the nation’s debt ceiling, according to a report in the Financial Times.

The move reflects increasing concern from the financial community over whether the US is capable of a political solution to its burgeoning debt and deficit problems.

“We’ve always wondered who will buy Treasurys” after the Federal Reserve purchases the last of its $600 billion to end the second leg of its quantitative easing program later this month, Gross said. “It’s certainly not Pimco and it’s probably not the bond funds of the world.”

Pimco, based in Newport Beach, Calif., manages more than $1.2 trillion in assets and runs the largest bond fund in the world.

Gross confirmed a report Friday that Pimco has marginally increased its Treasurys allotment—from 4 percent to 5 percent—but still has little interest in US debt and its low yields that are in place despite an ugly national balance sheet.

“Why wouldn’t an investor buy Canada with a better balance sheet or Australia with a better balance sheet with interest rates at 1 or 2 or 3 percent higher?” he said. “It simply doesn’t make any sense.”

Should the debt problem in Greece explode into a full-blown crisis—an International Monetary Fund bailout has prevented a full-scale meltdown so far—Gross predicted that German debt, not that of the US, would be the safe-haven of choice for global investors.

America is going down because her stupid citizens wickedly voted for corrupt dishonest Democrat fools – the very fools who imploded our economy – to have complete power.  Nancy Pelosi took over dictatorial control in the House of Representatives, and Harry Reid took over the US Senate, in 2006.

Thanks to Obama, America is now worse off than Greece.  But that didn’t stop Obama from offering to bail out Greece.  Maybe it’s because George Soros is Greek; maybe because the American left has always adored the European-style socialism in spite of Thomas Jefferson’s warning that “the comparison of our governments with those of Europe is like a comparison of heaven and hell.”  Maybe because Obama simply WANTS hell for America.  But there you have it.

Republicans acknowledged they failed to live up to their values and spent too much.  But the last Republican budget (Fiscal Year 2007) passed in 2006 had only a $161 billion deficit.  The very next Democrat budget for FY 2008 had a deficit of $459 billion – nearly three times larger than the one they’d demonized Republicans for.  Then their FY-2009 budget dwarfed that deficit with a black hold of red ink deficit of $1.4 TRILLION.  That was more money than any government in the history of the world had ever contemplated.  But Democrats dwarfed that the very next year with a FY-2010 budget with a $1.6 trillion deficit.  And as for FY-2011, the Democrat Congress simply refused to perform its most basic duty of governance and didn’t even bother to pass a budget.  Republicans are now forced to do the last disgraced Democrat-controlled Congress’ job for them – and Democrats are demonizing them for it.

That’s how this game is played.  Democrats are fascist demagogues who shrilly launch into Republicans as they try to save the American people from unparalleled future suffering.  They are people who ROUTINELY demonize, demonize, demonize until THEY are the ones forced to call for the very things they demonized and tried to prevent from happening.  But by the time they react this time, just as before, it will be too late.

Try this on for size: our actual debt isn’t the $14 trillion we constantly hear about; it’s more like $200 trillion.  And even THAT gargantuan number doesn’t take into account the massive debts that all the liberal labor unions have amassed in state pensions (e.g., California’s public pension system has unfunded liabilities of $500 billion).  We cannot possibly hope to pay this – and yet Democrats demand more and more and more, and demagogue Republicans for even trying to cut millions when we need to cut TENS OF TRILLIONS or collapse.

Democrats run ads showing a look-a-like of Republican Rep. Paul Ryan pushing an old lady off a cliff; but they want every single senior citizen to die terribly as the Medicare system completely collapses while they refuse to do anything to fix it – as even Bill Clinton openly acknowledged.

We are going to end like the PIIGS – Portugal, Ireland, Italy, Greece and Spain- because we elected Democrat swine to ensure we perished like pigs.

Greece just got downgraded to the point where they are the lowest-rated currency in the history of the planet.  And it happened yesterday.

When that happens to us it will be the worst nightmare in history.  300 million Americans are going to go into an insanity of panic – and of course the violence will begin with the left.  If you don’t have an arsenal, someone will kick down your door and murder your whole family just to eat the food in your house.  And that hell on earth will be entirely because you trusted Democrats like Anthony Weiner to run your health care, your pension, your economy, your life.

I hope you vote in 2012 like your very LIFE was at stake in these elections.  Because this time it truly is.

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15 Responses to “US Is in Even Worse Shape Financially Than Greece. And Why Is That In The Age Of Obama???”

  1. HL Says:

    Staggering, Michael, absolutely staggering.

  2. Michael Eden Says:

    Market down big today on unfolding Greek crisis (and who is out violently raising hell in the streets in Greece? The LEFT who demand they continue to be allowed to suck on the tit of government), and on realization that Jimmy Carter and his terrible inflation and low manufacturing is back.

    And yet, every day, the mainstream media assures us that Obama is making things better and better.

  3. Truth Unites... and Divides Says:

    “But who got blamed? Republicans, of course. George Bush and Republicans were to Obama and the Democrats what Emmanual Goldstein was to Big Brother in 1984. George Bush and Republicans were what the Jews were to Adolf Hitler. Fascists always need a bogeyman. And so the people who were truly to blame turned the people who tried futilely to stop them into the scapegoats. All with the mainstream media’s complicity.”

    This has been going on for a long, long time. It’s going on now. And the wrongful scapegoating of innocents will continue to happen.

    It’s hard not to be pessimistic about the downward decline of our country.

  4. Andrew Says:

    Terrible biased article this is. While i agree that the blame is being put on the wrong people. This partially is due to the fact that the system has failed to prosecute those guilty of the crimes. Therefore the blame is spread across the entirety of society and so those who defend capitalism like the Republicans and Bush get all the blame. Without identifying the actual culprits of the subprime meltdown and physically putting them in jail we now have a crisis.

  5. Michael Eden Says:

    Andrew,

    The way you ramble, it’s hard to understand your actual point. But aside from your telling me I have a “terribly biased article” without having anywhere near the sufficient objectivity or impartiality to show what is “biased” or how or why it is “biased,” you seem to proceed to assert the guilt of George W. Bush and the Republican Party. With their charge being “defending capitalism.” Which is really strange, because the United States is ostensibly a capitalist nation and Bush and Republicans represented that nation.

    As for the “subprime crisis,” it is interesting to note that that crisis was born in the Clinton years in order to advance the pro-Democrat Party goal of increasing home ownership to minorities who could not afford to own homes. Penny Pritzker – a lifelong Democrat and a senior member of Obama’s campaign – was at THE EPICENTER of the subcrime – oops, subprime – scandal. While Obama took more campaign money from the guiltiest parties – both in the GSEs and in Wall Street – than ANYBODY.

    But George Bush – who tried SEVENTEEN TIMES to reform and regulate Fannie Mae and Freddie Mac while warning this mess would happen but being repeatedly blocked by Democrats – is somehow to blame?

    The people we most need to put in jail are people like you, methinks.

  6. andrew Says:

    Michael I believe Bush was a disasterous President and he was a gift to Democrats but i do not think he is responsible for the Subprime crisis. Clinton on the other hand bares some responsibility. However, it is perfectly reasonable in a “Democrat” Republic such as America for people like Clinton to support homeownership for minorities which was subsequently endorsed by Bush’s compassionate conservatism in order to get elected.

    Also to suggest that Obama is in any way linked to these guys is ludicrous since he is the most obscure President in American history. Nobody heard of him until he ran for president and even then people thaught he was a muslim. You really expect people are going to listen to a suspected Kenyan Muslim telling them they need to buy homes they can’t afford.

    People should not be sidetracked by political posturing on tracking down the real culprits. Countrywide, Indymac Bank, Wells fargo, Wachovia, Ameriquest, Citifinancial, Mortgage Companies, HSBC, Barclays, etc. Most people in Washington and Europe are hired by these people to champion their cause. These institution are neither Democrats or Republicans but their certainly not Libertarian.

  7. Michael Eden Says:

    Got to correct something you said:

    Also to suggest that Obama is in any way linked to these guys is ludicrous…

    That is simply wrong.

    Obama actually represented ACORN and SUED Citibank to FORCE them to give unsustainable loans to poor minorities who would not be able to pay those loans back.

    Obama also received MORE MONEY from both the GSEs (Fannie and Freddie) and corrupt Wall Street entities such as Lehman Brothers in a shorter period of time than ANYBODY EVER.

    It is ALSO a fact that Obama chose as his senior campaign adviser Penny Pritzker – who was in fact at the very EPICENTER of the subprime scandal.

    It is a FACT that Barack Obama was involved in this crap up past the whites of his eyeballs.

    I wrote the following in a previous article to point out how culpable Fannie and Freddie were for this disaster:

    For the record, “8,000 billion” is another way of saying $8 TRILLION DOLLARS. That’s what Fannie Mae, Freddie Mac, and the Democrat Party have cost us.

    It was Democrats who established Fannie Mae and Freddie Mac. It has been Democrats who have controlled the staffing of both agencies for decades. It was Democrats – and particularly it was Barack Obama – who took more campaign money from Fannie Mae and Freddie Mac than ANYONE. It was Democrats who refused to regulate Fannie Mae and Freddie Mac when George Bush and later John McCain repeatedly pleaded for such regulation and reform of the out-of-control agencies. It was Democrats like Franklin Raines who were running Fannie and Freddie when all the policies that led us down the road to hell were imposed, just as it was Democrats who were running Fannie and Freddie when the fecal matter started hitting the rotary oscillator.

    It was a Democrat who said that everything was fine with Fannie and Freddie less than TWO MONTHS before they completely collapsed:

    REP. BARNEY FRANK, D-MASS, July 14, 2008: I think this is a case where Fannie and Freddie are fundamentally sound, that they are not in danger of going under. They’re not the best investments these days from the long-term standpoint going back. I think they are in good shape going forward.

    And I think that anybody who respects what you think is a deluded and deranged dumbass, Mr. Frank.

    Fannie Mae and Freddie Mac are now in control of 96.5% of all mortgages, for those who don’t think they’re all that important in their role of creating the mortgage meltdown. It was Fannie and Freddie that bundled all the bad mortgages into mortgage-backed securities and then sold the mortgage-backed and debt securities to domestic and international capital investors under the illusion that they were guaranteed by the federal government.

    Fannie and Freddie were a $5 trillion wasted boondoggle BEFORE things got even worse. They exist only to help liberals and lose money. And there’s no end in sight.

    How bad is it???

    Just how bad is the news at Fannie/Freddie? On Friday morning, Moody’s downgraded their outstanding preferred stock 5 notches from A1 to Baa3 (a slight gradation above junk) and their Bank Financial Strength Ratings (BSFR) to D+ from B- (one/half notch above D, which is reserved for companies in default). […]

    When the Treasury peels back the onion, I believe they will find a hornet’s nest. I think we will see an initial bailout of $100 billion or so, with 2/3-3/4 going to Fannie (as it is a larger organization). The scenario I foresee however, just as happened at Merrill Lynch, Lehman Brothers and Morgan Stanley, is that they came to the financing window expecting to have borrowed enough, but then find they have to keep coming back repeatedly until the buyers go away or until “We The People” have thrown at least $500 billion at Fannie/Freddie to get them back on their feet again. This will also likely take an Act of Congress to raise the Treasury’s Debt ceiling quite dramatically

    The United States used to be the greatest nation in the history of the world; now we’re more like a chicken that has had its head cut off, but is too disconnected from reality to know that it’s already dead.

    Our deficits are now four times as high as they were a year ago, and they are twice as high as Obama said they would be in the very worst case scenario.

    We’re screwed. Frankly, America voted to be screwed when it elected Barack Obama and Democrats.

    What you do, Andrew, is blame the private banking industry for doing what the GOVERNMENT forced them to do. Democrats in Congress FORCED the banks to make these loans. Obama personally SUED the banks to make these loans.

    This happens over and over again. Democrats create these vile and immoral programs, force the private sector to do stupid and suicidal things. Then the private sector figures out a way to comply with the demonic requirements in the only way that they can stay in business. Some of them are forced to play the games; other crony capitalists eagerly jump in and take advantage of the newly-created government program that will make them rich just like all the other demonic and asinine government programs made other crony capitalists rich before. And you who refuse to blame the government proceed to blame the people who wouldn’t have done ANY of this crap if it hadn’t been for the government.

    George Bush tried SEVENTEEN TIMES to regulate Fannie and Freddie. John McCain PREDICTED this disaster precisely in a letter he wrote warning of what would happen if Democrats continued to block reform of Fannie and Freddie.

    I’ve got a proposition for you, Andrew. How about if I hit you in the face as HARD as I can – you know, $8 trillion worth of “hard” – and when you fall down on the ground in a permanent coma it will be ALL YOUR FAULT. Just like it was apparently all the private banks’ faults for reacting to government lending requirements that Barack Obama helped enforce with his ACORN-sponsored lawsuit.

    Also please remember that in 2008, Wall Street gave Barack Obama more money than it had ever given ANY candidate in the entire history of the planet. Because the truly corrupt Wall Street players – who wanted to keep the pig trough of government feeding coming – funded Obama to reward him for what he had already done (to create the disaster of 2008) and what they thought he would do (until he lied to them just like he lied to the American people about closing Gitmo).

  8. andrew Says:

    First of all you keep saying the Democrats did this and the Democrats did that. Your a nation of over 315 million people and yet you expect one party to speak on behalf of the entire nation. Where were the Libertarians when all this was going on. Ron Paul was around back then and he was even against this Subprime scheme and give me a break you really expect the world to stomach the notion that Republicans don’t represent a Wall Street.

    As for Obama so the man sues a bank for not lending to minorites. How many other people have done the same thing. Your really are nit picking to try to smear the president. What about the Fact that George Bush had family members working at Lehman brothers. And finally their are the GSE’s Fannie Mae and Fannie Mac.

    Yes the GSE’s were America’s answer to stuffing homeless people into houses to keep them from causing trouble. A rising tide lifts all boats. The money poured into the Subprime Housing Market with the Mortgage Banks profitting handsomely until they got lifted up and like a tsunami got swept away.

  9. Michael Eden Says:

    Andrew,

    You say “your nation.” It is obvious that you do not understand how “my nation” works. At all.

    One party CAN and in fact quite often DOES “speak on behalf of an entire nation” on various issues. Take the Obama stimulus. Zero Republican votes. DEMOCRATS spoke for the entire nation. They own that completely. Take ObamaCare. Zero Republican votes. DEMOCRATS spoke for the entire nation. They own that completely.

    And take the Community Reinvestment act that was rammed through when Jimmy Carter was president and Democrats had even more control over Congress than they did for the first two years of the Obama regime. That was ALL Democrats. Take Fannie and Freddie; those are entities that were created by Democrats and staffed by Democrats and ran based on liberal Democrat principles. They own that.

    George Bush and Republicans TRIED to reform and regulate Fannie and Freddie and save the housing mortgage market before Fannie and Freddie imploded (as it did) and took the economy down. Republicans WARNED that exactly what would happen would happen.

    But here’s the part where your abject ignorance comes to play: Republicans couldn’t do anything about it, because they could not overcome repeated Democrat filibusters. That’s where it takes 60 Senators to get something done. Democrats would not LET anything get done to reform Fannie and Freddie. And so Fannie and Freddie crashed exactly like Republicans warned it would and took down the US economy exactly like Republicans warned it would.

    Obama suing Citibank means that Obama was PERSONALLY INVOLVED IN THIS SCANDAL in a way that George Bush and John McCain and Republicans never were.

    A rising tide lifts all boats. And a drain plug drains all bathtubs. The analogy is utterly meaningless to the economy aside from the fact that it reveals one’s incipient Marxism.

    Every single time the government gets involved with things it has no business getting involved with, crap like this happens. And every single time Statists like yourself blame the private sector who merely reacted to depraved and idiotic government policies. Right now there are over 100 criminal investigations involving the Obama stimulus. Statists like yourself blame the private companies that did X, Y or Z. But you are seemingly incapable of saying that the damn stimulus was a massive government boondoggle full of waste and stupidity that never should have happened. And when you put a damn “kick me” sign on your ass, YOU OUGHT TO EXPECT THAT SOMEONE IS GOING TO KICK YOUR STUPID ASS. Right now we are looking at well over the Obama-created Solyndra scandal and looking at well over HALF A BILLION DOLLARS IN TAXPAYER MONEY PISSED AWAY. But you are seemingly incapable of realizing that this was a frankly insane program and that IF YOU PUT A “KICK ME” SIGN ON YOUR ASS, YOU OUGHT TO EXPECT SOMEONE TO KICK YOUR STUPID ASS.

    Fannie and Freddie, the CRA, Obama’s lawsuit, etc. etc. are ALL EXAMPLES OF THE GOVERNMENT PUTTING A “KICK ME” SIGN ON ITS OWN ASS and asking anyone who wanted to to please kick America’s ass.

  10. andrew Says:

    I will dismiss the last part of your comment but as for everything else you said. I simple say again you forgot to address the fact that since the 1970’s the Libertarian wing of the Republican party is dead.

    If the United States of America truely would like less government, less social welfare, and less military spending than the would have tossed the Democrats out of power years ago. The failure of the G.O.P. to deal with the Neocons and the paeleoconservatives has destroyed your economy.

    Don’t get me wrong i believe the Democrats and Liberals played a major part in financial engineering in allowing Wall Street and the Mortgage industry to securitize loans and sell them off to foreign countries. Having said that it was Nixon back in the 1970’s who started the Vietnam War and took America off the gold standard.

    You want to talk about scandals looking from the outside in at Washington Politics most Southern Republicans who are former Democrats including former president Reagan are all a bunch of corrupt politicians

    “I don’t want to abolish government. I simply want to reduce it to the size where I can drag it into the bathroom and drown it in the bathtub.”

    “The government’s power to control one’s life derives from its power to tax. We believe that power should be minimized.”

    Government in the hands of such morons is truely dangerous. The problem is efficient not promoting thuggery. Even though Norquist is a libertarian in reality he is a lobbyist first. He gets paid to shout abuse about government and brainwash the masses to vote Republican. I suppose according to people like you and him the little people should not worry about who is running the government and instead just focus on tearing it down.

  11. Michael Eden Says:

    Andrew,

    You have a very limited connection with reality that is frankly irritating.

    It is very difficult to argue with rampant and determined ignorance.

    Here is my favorite line of yours so far:

    Having said that it was Nixon back in the 1970′s who started the Vietnam War…”

    If history means anything at all to you, you should realize that Nixon ENDED the Vietnam War. Lyndon Baines Johnson, DEMOCRAT, started the Vietnam War (although one could technically argue it was John F. Kennedy before him) by bringing in the first combat troops in 1965. And under Lyndon Johnson, we were fighting and dying in mass numbers in that year 1965. Nixon wasn’t president until 1969. And it was under Nixon that we reached the so-called “peace agreements” with North Vietnam culminating in US military involvement ending on 15 August 1973 (i.e. under Nixon) and our complete abandonment of Vietnam in 1975.

    You claim that Ronald Reagan is “corrupt.” And then you proceed to offer as your apparent “proof” a quote from Grover Norquist advocating limited government. Personally I look at the Solyndra boondoggle as a representative of the $862 billion stimulus boondoggle and see governemtn corruption. You see it in a conservative being allowed the freedom to express his idea in a yet un-fascist state.

    You go from saying Reagan was corrupt to offering Grover Norquist quotes advocating limited government to concluding “Government in the hands of such morons [i.e., people who believe in limited government] is truely dangerous.”

    Which is to say that you’re not a conservative or even a libertarian. You seem to first be standing up for libertarian values, arguing that libertarians would reduce the size of government if they had power. But you actually end by demonizing anyone who actually advances libertarian values as “tearing down the government” by wanting lower taxes (your supporting quote) and by wanting government reduced in size (your supporting quote). Apparently, your entire “argument” is that if Americans actually wanted limited government, they would have voted for it. And therefore they must want socialism. In spite of the fact that we’ve elected Republicans as president for 27 of the last 43 years (fully 63 percent of the time). The American people have only elected Democrats for president in 16 out of 43 years. And fully 8 of those 16 Democrat years came from a guy who famously said “The era of big government is over” in order to get reelected.

    Your point is as irrational and divorced from facts as your claim that Nixon started the Vietnam War.

    You really need to go away now.

  12. Anonymous Says:

    I cannon stand by and listen to such crap without responding to it. First of all you confirm my statement about Rednecks because Johnson was a southerner. Secondly Nixon did end the Vietnam war after he lost it and then started the drug war in Latin America. don’t forget going over to China to start outsourcing jobs but i digress about the viciousness of the American War machine.

    So lets get this straight America has 2 political parties that monopolise power in all the states. Be damned with all the independents their are. The GOP talk of Libertarian ideas like Norquist but they are cronies. Ronald Reagan saw the biggest expansion of government during his tenure. People became slaves to the market place. Bought and sold like cattle at a market place. Devout Conservatives were brought in from the cold and thaught to indoctrinate people.

    The Corporate police state that is America keeps entire segments of American society crippled with debt and denied basic working rights. Blacks did not even have the right to vote in the 1960’s and as soon as Nafta as signed in the 1990’s the government wanted to wash it hands of dealing with institutional racism and let the private sector take over. Now look at the border. Perry wants Mexicans in his state and also to keep his death penalty.

    America needs a real alternative to the Democratic party but it certainly is not the GOP.

  13. Michael Eden Says:

    You’re just not a real honest person, are you?

    You said that Nixon STARTED the Vietnam war. That’s a quote. Your words. And now you’re acting like you didn’t say the stupid dumb ass thing you in fact said?

    And then from throwing in the red herring of the Vietnam War you proceed to start tossing even MORE red herrings in. How many subjects do you have to ignorantly distract from the actual subject at hand? The drug war? Latin America? Why not talk about his failure with belly button lint while you’re at it???

    Ronald Reagan saw the biggest expansion of government during his tenure? Seriously? You’re probably talking about his military expansion after Jimmy Carter treasonously gutted it. But this is again the words of a complete fool who is utterly ignorant of actual history. You are seriously suggesting that Ronald Reagan increased the military by a larger percentage than FDR did during World War II. You’re truly that stupid of a human being?

    Here’s an interesting factoid: Just from 1940-1945, the U.S. defense budget increased from $1.9 billion to $59.8 billion. That’s a 3,047 percent increase, you truly stupid jackass. And FDR had ALREADY BEEN building up the military and the size of government prior to 1940 (he took office in 1933).

    Is it truly your assertion that Reagan increased the size of the military by more than 3,047 percent over Jimmy Carter? Seriously???

    Or maybe you want to talk about debt.

    Reagan inherited the same Cold War that every single president from Harry Truman had faced until he came along. He knew how to win it. And he made it the major point of his presidency to defeat the mighty Soviet Union. And, amazingly, he succeeded.

    So let’s compare Reagan to fellow wartime president, FDR. Because that was what Reagan was: he was THE president who won the Cold War, the longest and most expensive war in American history.

    Ronald Reagan tripled the national debt. That sounds bad. Until you consider FDR.

    Franklin Delanor Roosevelt raised the debt from $22,538,672,560.15 to $258,682,187,409.93.

    That, for the record, is an increase of 1,048% in U.S. debt.

    “Triple the National Debt”? FDR didn’t triple the national debt – he multiplied it by 11.5 TIMES. Which is to say that he nearly QUADRUPLED his TRIPLING of the national debt.

    I mean, OMG. If only FDR had only tripled the national debt!!!

    So you are a complete and utter dumbass, you say things that are just total gargantuan lies, you don’t bother to acknowledge when you are caught in lies and just say other lies, and you are done here.

  14. andrew Says:

    Thankfullly i don’t have to respond at lenght to your comment. I will say only this Ronald Reagan won the cold war. HA! That’s a good one.

  15. Michael Eden Says:

    Andrew,

    Every single thing you have said (Nixon started the Vietnam War, etc.) is just a ludicrous abandonment of facts or history or reality.

    Why should you be any different on Ronald Reagan and the Cold War?

    Last I heard, Ronald Reagan was considered America’s greatest president and the Soviet Union that Reagan fought the Cold War with had ceased to exist shortly after Reagan’s triumpant eighth year in office.

    You would be truly ashamed of yourself if you possessed either the moral or intellectual competence to perceive the real world.

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