Posts Tagged ‘implosion’

Barack Obama And Israel: The Coming Antichrist’s Useful Idiot

May 19, 2011

God damn America just entered a radical and aggressive new phase.  But that should come as absolutely no surprise to those who a) understand the Bible and b) understand that Barack Obama is a truly evil man.

It’s almost as if Obama killed Osama and then decided to balance the scales by killing the entire nation of Israel.

Is Barack Obama the Antichrist?  No.  He is merely the coming Antichrist’s useful idiot.

Ultimately, this coming global dictator known as the Antichrist, the beast (Revelation 13), the man of lawlessness and the son of destruction (2 Thessalonians 2:3) and the little horn (Daniel 7:20-24), will come riding in on his white horse (Revelation 6:1) to “save the world” from impending catastrophe.  There will be total economic implosion, food shortages and famine, and wars – especially in the sense of “race” (ethnos) rising against race (Luke 21:10).

And, of course, the biggest and most dangerous “race against race” of all is the incredibly better war between the Arabs and the Jews.

Antichrist will seem to have an answer for all these problems and more.  This coming dictator will appear to be so effective that the world will literally worship him.

Obama is not the man who will have all the answers; he is merely the fool who leads the world into this state of total chaos and collapse.  He is merely the fool who will usher in the beast and welcome him.

The coming seven-year tribulation – which will be the most terrifying and most dangerous period in the history of the entire human race – will be initiated with the antichrist’s signing of a seven-year treaty “guaranteeing” the peace of Israel (see Daniel 9:27).  And Obama has brought us to the point where we are very nearly at that point.

Here is the story:

Obama Orders Israel to ‘End the Occupation’
by Maayana Miskin

United States President Barack Obama issued a stinging condemnation of the Jewish presence in Judea and Samaria on Wednesday in a speech to the United Nations General Assembly. The U.S. “does not accept the legitimacy of continued Israeli settlements,” Obama announced.

Using unusually harsh terminology, Obama called to “end the occupation that began in 1967” – referring to Israel’s control of Judea and Samaria.

Obama also stated that the U.S. must put more pressure on Israel to accept Arab demands. “The United States does Israel no favors when we fail to couple an unwavering commitment to its security with an insistence that Israel respect the legitimate claims and rights of the Palestinians,” he said.

The U.S. president had demands for Israel’s opponents as well, and called on UN member states to avoid “vitriolic” attacks on Israel and recognize Israel’s legitimacy. In addition, he called on the Palestinian Authority to “end incitement against Israel.”

In his speech, Obama reported that progress had been made in a meeting the day before with  Prime Minister Binyamin Netanyahu and PA Chairman Mahmoud Abbas.

Obama has pressured Israel to completely freeze building for Jews in Judea and Samaria, a plan Netanyahu has rejected. Israeli leaders have stated that many Judea and Samaria communities are within the “national consensus” regarding towns that are expected to remain in Israeli hands permanently, and that building should continue in those areas. The Obama administration’s most recent statements on the subject made clear, however, that a freeze on settlements could not be a precondition for peace talks between Israel and the PA.

Regarding Iran, Obama expressed support for both diplomacy and consequences. Iran and North Korea should be offered “greater prosperity and a more secure peace” if they agree to abide by international guidelines, but “must be held accountable” if they insist on pursuing nuclear weapons, he said.

Bolton: Israel on the Chopping Block
Former United States ambassador to the UN John Bolton said the president’s message had strong significance, particularly given the venue. Obama has put Israel “on the chopping block,” Bolton warned.

‘World Must Work Together’
Obama called for the nations of the world to work together, saying, “Now is the time for all of us to take our share of responsibility.”

“Those who used to chastise America for acting alone in the world cannot now stand by and wait for America to solve the world’s problems alone,” he added pointedly.

Obama said UN member states had fallen short in addressing the world’s problems. Among the issues he called to address were genocide, “protracted conflicts,” nuclear proliferation, and global warming.
(IsraelNationalNews.com

With “friends” like Obama, Israel really doesn’t need any enemies.  But of course it has them anyway – numbering in the scores.  Obama has proven that he is the most anti-Israel and anti-Jewish president in American history.  We can now readily see why the United States of America is not mentioned in Bible prophecy.  Our fate is very nearly sealed.  The writing on the wall is nearly complete: America has been weighed on the scales and found wanting.  Our way is the way of Obama, the way of the Dodo bird and the way of hell.

Obama has every intention of exposing the underbelly of Israel, leaving her with completely indefensible borders, including an 8 mile-wide country that cannot possibly resist the next invasion.  Obama is literally seeking to give the Arabs the high ground so that they can murder every single Jew in Israel with near impunity.  Obama’s new borders would come at the price of Israel’s existence.  Israel will resist this, of course, but with the United States – formerly Israel’s greatest political ally – now becoming her chief political enemy, she will become increasingly isolated and desperate.

At the very moment that the Syrians have shown how truly evil they are, we have a president who actually wants to give them the strategically vital Golan Heights.  That is beyond the limit of lunacy.  It doesn’t matter how desperately wrong the Obama administration is or how many times that proof is documented for all to see.  We continue to blithely march like the proverbial lemmings to our fools’ end.

And not only is Obama demanding this of Israel, but it is demanding that the Arabs give no concessions whatsoever.  Barack Obama – whether stupidly or wickedly – has dedicated himself to the destruction of the state of Israel.  Obama has literally torn-up Bush-era agreements that were overwhelmingly ratified by both Republicans and Democrats in both the House and the Senate.  Israel now knows for certain that the United States is no trustworthy partner, and that America’s word means exactly nothing.

At one particularly asinine moment in Obama’s speech we had this:

“How can one negotiate with a party that has shown unwillingness to recognize your right to exist?” Obama asked.

And – bizarrely – Obama didn’t even bother to try to answer it as he essentially demand that Israel trust said “party” anyway.  It was as though merely raising the intractable issue was good enough.

When the Antichrist comes offering an apparent way out of this fools’ dilemma Obama has imposed, Israel will take it.  And the death sentence of the present world will be inaugurated.

Liberals in America and around the world have been dreaming of a one-world Utopia for decades.  The Bible told us 2,000 years ago that such a global dictatorship that the left is seeking would come to pass – in the last days.  What the left passionately believes will be the salvation of the human race will actually be the guarantee of the destruction of the human race (Revelation 13:1-18).  One of the greatest ironies in human history is that the left – which openly mocks the Bible – have become the primary instruments of its fulfillment.  To their certain doom.

You Democrats will one day be forced to account for the horror that you will have unleashed in voting for and supporting Barack Hussein Obama.

Take a look at a map of the Middle East:

Try to find Israel on that map.  It is so small it is hard to see.  And then look around at the Arab/Muslim states that surround her.

With all this land, it isn’t enough.  The Arabs want it all.  They want Israel destroyed.  They want her driven into the sea and annihilated.  They want to finish what Hitler started.

I can’t make it any more plain than this.  It is past time for you to choose your side.  If you side with Barack Obama and the Muslims who yearn – and rabidly froth at the mouth – for holocaust, you will pay for your wickedness with eternity in hell.  These policies are the result of a depraved moral stupidity that will find no place in God’s heaven.

At the same time, if you seek to stand with Israel, then STAND with them.  Call your congressman.  Write your congressman.  Attend meetings and publicly demand that Barack Obama be forced to abandon his policies that will result in the certain death of America as God truly does damn a nation that has become great by standing with Israel more than any other nation in history.

The Bible says that all these things will inevitably come to pass.  But woe be to you if you let the consequences fall upon your head and the heads of your children.

The beast is coming; his fool is already here to prepare his path to domination for him.  Will he take you to hell with him?

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Obama’s ‘Hope And Change’ At Work: Most Americans (Correctly) Believe Our Best Days Are Now Behind Us

April 28, 2011

History reminds us of a time – not all that long ago – when a charismatic leader promised a fundamental transformation that brought hope to a nation.

The leaders’s name was Adolf Hitler.  It didn’t end well.  Seriously.

The kind of fascistic irrationally euphoric Utopian rhetoric of Obama

“I am absolutely certain that generations from now, we will be able to look back and tell our children that this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal… This was the moment — this was the time — when we came together to remake this great nation …”

– hasn’t seemed to work out very well in the real world.  I mean who talks like that but a fascist demagogue promising a false Utopia, anyway?  Not that most liberals have any clue whatsoever about the real world, mind you.

The evidence is crystal clear that Obama is a fascist and a demagogue.  But the mainstream media is every bit as unlikely to tell the truth about Obama as Joseph Goebbels’ Ministry of Propaganda was likely to tell the truth about their Fuhrer.

The New York Times once said – as part of the irrational fascistic hype surrounding Obama – that:

WASHINGTON — At the core of Senator Barack Obama’s presidential campaign is a promise that he can transcend the starkly red-and-blue politics of the last 15 years, end the partisan and ideological wars and build a new governing majority.

Did Obama ever once come close to actually fulfilling that “core presidential promise”???

How about this: within 24 days of Obama assuming the presidency, The Wall Street Journal was rightly able to say this about our “transcending” figure:

President Barack Obama has turned fearmongering into an art form. He has repeatedly raised the specter of another Great Depression. First, he did so to win votes in the November election. He has done so again recently to sway congressional votes for his stimulus package

It wasn’t even a month after assuming the presidency that Obama began to dismiss the Republicans he had promised to reach out to:

“Don’t come to the table with the same tired arguments and worn ideas that helped to create this crisis,” he admonished in a speech.

It was barely only a month after assuming the presidency that Obama began to thumb his nose at the Republicans he had promised to reach out to:

 When [Republican Rep. Eric] Cantor tried to justify his own position, Obama responded: “Elections have consequences, and at the end of the day, I won.”

Were those really the words that would “transcend the starkly red-and-blue politics of the last 15 years”???  In taking that stand, was there actually any chance whatsoever that Obama would “end the partisan and ideological wars”???  Is anyone frankly so morally and intellectually stupid to see these tactics as they way to “build a new governing majority”???

And of course, shortly after the American people rejected Obama in the largest shallacking in modern American history and voted against the Democrat Party in droves, Nancy Pelosi began to further degenerate into fascism (where elections shouldn’t matter unless the fascists win them), saying: “elections shouldn’t matter as much as they do.”

And then we proceeded to see Democrats and liberals behave far more like fascists than people who gave a damn about elections or the consequences of elections in Wisconsin.

I think of the fact that Hitler never won more than 37% of the vote.  But the moment he seized power, “elections didn’t matter as much as they should have.”

Barack Obama is a man who has personally repeatedly demonized George W. Bush, Republicans, entire industries, businesses, and even medical doctors (remember how they amputate people’s feet and yank out their tonsils just to illegitimately profit?).  As a Senator, he personally attacked George Bush for his failure of leadership for having to raise the debt ceiling; now he’s personally attacking anyone who acts as cynically and despicably as he acted.  Obama personally demonized George Bush for trampling on the Constitution for Iraq even though Congress had directly authorized his actions; but this same cynical demagogue would attack Libya without any congressional authorization whatsoever.  Obama lectured Republicans that it hurt the country and the essential political debate to demagogue the other side with health care, only to viciously attack the Republicans the first time he thought it would politically help him to do so.  Rep Ryan – whom he invited to his speech just to single him out for attack – said, “What we got yesterday was the opposite of what [Obama] said is necessary to fix this problem.”  And Obama doesn’t just demonize his opponents; he falsely demonizes his opponents by telling demonstrable lies.

As I said, Obama is a fascist bully and a cynical demagogue.  And yet the mainstream media has the unmitigated chutzpah to continue to insanely depict this cynical, lying, hypocrite demagogue as an inspirational figure.

The American people and the mushroom have something in common: both are kept in the dark and fed manure.

So you can understand why the American people – for all the information available to them – are so terribly ignorant about just what the hell is going on in our political system.

But as misinformed and lied-to as Americans are when it comes to the sea of lies they are presented with as “news,” they are still aware that fewer of them have jobs, fewer of them have homes, their food cost more, their fuel cost more and that the quality of their lives are rapidly slipping away under the policies of a failed president and his failed party.

America’s Best Days
Those Confident That America’s Best Days Lie Ahead Down to 31%
Monday, April 25, 2011

Voter confidence that the nation’s best days are still to come has fallen to its lowest level ever.

A new Rasmussen Reports national telephone survey of Likely Voters shows that just 31% believe America’s best days are in the future. That’s down three points from last month and is the lowest result found in polling since late 2006.

Fifty-three percent (53%) believe America’s best days are in the past, also the highest measurement in over four years. Sixteen percent (16%) are undecided. (To see survey question wording, click here.)

Separate polling finds that only 22% of Likely Voters believe the United States is now heading in the right direction. That ties the lowest level found during Barack Obama’s presidency.

While majorities of Republicans (68%) and voters not affiliated with either major political party (52%) believe America’s best days are in the past, a plurality of Democrats (45%) thinks its best days still lie ahead.

Fifty-eight percent (58%) of white voters believe America’s best days have come and gone, but the same number of black voters (58%) feel the opposite is true.

[…]

And of course, it is true: America’s days truly ARE behind us as long as Barack Hussein Obama and as long as Democrats are able to continue to lead.  Either Democrats will go down, or America will go down.

But, liberals say, it was BUSH who made the economy fail.  Two things: 1) how many years should that line of garbage continue to succeed?  And 2) it was never true to begin with (also see here).

Do you know that Democrats had total control of both the House and the Senate from 2006 until 2010???

George Bush tried SEVENTEEN TIMES to warn Congress that unless we got control of the out-of-control Democrat-controlled Fannie Mae and Freddie Mac and the out-of-control housing and housing mortgage market that it was poisoning with piles of bad debt, our economy would go under.  The problem had festered because Bush had reappointed the first black Fannie Mae CEO because of political correctness.  Franklin Raines was a failure and a corrupt fraud who disguised massive debt.  Further, fearing the same political correctness, Republicans had allowed themselves to be repeatedly stymied in their attempts to reform the Government Sponsored Enterprises Fannie and Freddie as Democrats screamd “racism.”  John McCain was if anything even more clear in 2006 when there was still time to fix the developing crisis.  McCain wrote (in 2006):

Congress chartered Fannie and Freddie to provide access to home financing by maintaining liquidity in the secondary mortgage market. Today, almost half of all mortgages in the U.S. are owned or guaranteed by these GSEs. They are mammoth financial institutions with almost $1.5 Trillion of debt outstanding between them. With the fiscal challenges facing us today (deficits, entitlements, pensions and flood insurance), Congress must ask itself who would actually pay this debt if Fannie or Freddie could not?

McCain asked, “Who would actually pay this massive debt for these incredibly risky liberal policies if Fannie or Freddie could not?’  And we now have the answer to that question, don’t we???

Even the liberal New York Times recognized the threat posed by Fannie and Freddie.  And Peter Wallison all but predicted the collapse as early as 1999:

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.”

 The same Peter Wallison who had predicted the disaster from 1999 wrote a September 23, 2008 article in the Wall Street Journal entitled “Blame Fannie Mae and Congress For the Credit Mess.”

Wallison was 100% correct, and had the FACT that he had accurately predicted the collapse to give him further credibility.  Democrats were 100% wrong.  Barney Frank was one of the unanimous Nazi-goosetepping Democrats who said stuff like this:

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.”

Basically a MONTH before Fannie and Freddie went bankrupt and started the entire housing mortgage market collapse in 2008, Barney Frank was still singing the same idiotic tune:

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.

They’re in a housing market. I do think their prospects going forward are very solid.”

John McCain correctly predicted a disaster.  Barney Frank was still spouting outrageous lies just one month before the bottom fell out of Fannie Mae and Freddie Mac and then caused the bottom to fall out of the entire economy.  Republicans were right and Democrats were disasterously wrong.  And the American people responded by electing Democrats and purging Republicans.  Because we were lied to, and because we have become a bad people who believe lies.

Democrats blocked every single move by both the Republicans and by George Bush.  They actually threatened filibusters to prevent Bush from fixing the broken system that failed and it was DEMOCRATS who took our economy down the drain.

And Senator Barack Obama had more campaign money from Fannie Mae and Freddie Mac in a shorter time than anyone in Congress.  And he also had more campaign money from Lehman Brothers – a dirty Wall Street player that went belly up – in a shorter time than anyone else in Congress.  Obama was bought and owned by the people who blew up our economy.

Only a nation of fools would have voted for this inexperienced Marxist fool to run our nation.  But a nation of fools believed the worst media propaganda campaign since Joseph Goebbels plied his trade.

Even fools feel pain when they keep getting burned, though.  And Obama is burning America alive.

We are slipping.  Even fools can feel it:

26 Apr, 2011, 11.27AM IST,IANS
China’s economy to surpass that of US by 2016: IMF

BEIJING: The Chinese economy will surpass that of the US by 2016, the International Monetary Fund ( IMF )) has predicted.According to the IMF’s forecast, based on “purchasing power parities”, China’s gross domestic product (GDP) will rise from $11.2 trillion in 2011 to $19 trillion in 2016, while the American economy will increase from $15.2 trillion to $18.8 trillion.

China’s share of the global economy will ascend from 14 percent to 18 percent, while the US’ share will descend to 17.7 percent, China Daily reported.

The Economist had predicted in December 2010 that China would overtake the US in terms of nominal GDP in 2019.

 At the same time all of the other growing disasters is taking place, we have a crisis in the price of oil.  And Obama has done nothing but exacerbate that crisis with energy policies that are even more destructive than Jimmy Carter’s.

Do you feel your nation growing smaller and smaller and weaker and weaker?  That is the hope and change you voted for.

In the time that Obama has been president, we’ve gone from predicting China would overtake us by 2030, to 2019, to just five years away.  And mark my words, it will be moved up yet again, before they overtake Obama’s ignorant stupidity even faster than that.

Under Obama, and due to his immoral and criminally reckless policies, we are spending like fools and at the same time insanely inflating our money supply (under the euphamism of “qantitative easing” or QE2.  And here are the results:

APRIL 23, 2011
Dollar’s Decline Speeds Up, With Risks for U.S.
BY TOM LAURICELLA

The U.S. dollar’s downward slide is accelerating as low interest rates, inflation concerns and the massive federal budget deficit undermine the currency.

With no relief in sight for the dollar on any of those fronts, the downward pressure on the dollar is widely expected to continue.
The dollar fell nearly 1% against a broad basket of currencies this week, following a drop of similar size last week. The ICE U.S. Dollar Index closed at its lowest level since August 2008, before the financial crisis intensified.

“The dollar just hasn’t had anything positive going for it,” said Alessio de Longis, who oversees the Oppenheimer Currency Opportunities Fund.

Thanks to your fool-in-chief president, your dollar is worth less and less.  And your gas and your food cost more and more.  Food now costs more than at any time since 1974, thanks to the Democrat messiah.

Or maybe he’s not such a fool.  Because maybe this is what he wanted all along.  Read this article on “the Cloward and Piven Strategy” created by liberals/progressives to implode America written in 2008 (you could also read my own article written in 2009).  And then see what top SEIU official Steven Lerner – who left the “workers of the world unite; it’s not just a slogan anymore” radical union at the same time #1 White House visitor Andy Stern did – had to say about deliberately trying to cause a financial crisis that will implode America.

The United States of America is dangerously close to complete collapse.  One wrong move, one piece of bad news, just one thing, could send us into a collapse that will be impossible to stop.

And we are either being led by a total fool, or even worse, we are being led by a man who is actively plotting to collapse America to impose a radical leftwing ideology, and who doesn’t care one iota more about the American people than Adolf Hitler cared about the German people.

I’m sure you have probably picked up on my angry tone.  I am angry; I’m beyond angry.  Why?  Because I see the beast foretold by the book of Daniel and the book of Revelation coming.  I see the collapse coming, and the Antichrist riding in on his white horse to save the day.  And I see that the same liberals, the same progressives, the same Democrats who caused this collapse will be the ones to welcome this coming world dictator.  And it will be these same Democrats who call for the American people to take his mark on their hands or on their foreheads so that they can join the rest of the world and buy and sell.

Rest assured, Obama’s reckless fiscal policies are not just undermining America; they are undermining the entire world.  The unrest in the Middle East (which again says “Last days as foretold by the Bible” all over it) is directly attributed to Obama’s monetary policies, according to the G-2o and the central banks.

Barack Obama is a false messiah.  The Democrat Partyis the party of hell.  And they are leading us to hell on earth right now.  Today.

And we are voting for hell.

You mark my words.  It won’t be long now.  The beast is coming.  And if you vote Democrat, you have already voted for him by paving the way for his soon-arrival.

Get ready for hell.

Barney Frank Video Proves Democrats At CORE Of 2008 Economic Collapse

May 11, 2010

Scott Factor has the most relevant quotes, plus the video of Barney Frank’s “wisdom” prior to the housing mortgage collapse that led to the 2008 economic meltdown:

Stupid, lying, forever full of bull Rep. Barney Fwank (D-Mass.) (No relation to Elmer Fudd) was speaking at a forum on national housing policy back in December, 2006. Shortly after this speech, Fwank became Chairman of the House Financial Services Committee. Some of the comments he made at this forum go to prove that he and the Democrats are liars, thieves, incompetents, and will make up stories as they go to fit any situation. This is not leadership, it’s incompetence.

Here are some quotes from this video:

“You will see far less difference with Democrats taking over in the Financial Services regulatory area…..One of the things we did was try to reduce the reporting requirements from the banks to the financial detectives. Far too much has to be reported now in my judgment.”

Well, I guess if they reported more, it would be easier to prosecute all of the fraud that took place, or better yet, the fraud would never have occurred. Still willing to blame the economic mess on Bush?

Then he babbles about the now troubled Fannie Mae and Freddie Mac: “You could have cut back on their ability to borrow as cheaply or you could leave that benefit in place and distribute it more fairly. That’s what we chose to do with the affordable housing fund.”

So, welfare loans for those who could not afford them, and what did we get? A banking crisis related to all the foreclosures because we loaned money to people who couldn’t’ afford to borrow it. Still willing to blame the economic mess on Bush?

Fwank babbles about the housing bubble, before it went bust: “I do want to address this thing about the bubble. I think the bubble is an entirely inappropriate metaphor. Let me just be very clear, houses ain’t tulips. Houses today even with the drop in housing prices are more valuable than tulips were however many years ago when we had the tulip business.”

Fwank on the busted bubble: “I think it’s a good thing that housing prices are dropping…..A 10% drop in housing prices is a good thing. Housing was over-valued.”

Still willing to blame the economic mess on Bush?

Fwank on the busted bubble again: “…I don’t think that there’s a crisis, and I do think that the end result in a 10% drop in many parts of the country will be a more rational and healthier housing market.”

I’ve tried to tackle this issue in previous articles:

Who REALLY Exploded Your Economy, Liberals Or Conservatives?

With Eyes Finally Wide-Open, Reconsider Why The Economy Collapsed In The First Place

Biden: ‘We Misread the Economy’ – And it’s all the Republicans’ Fault

But Barney Frank might do a better job demonstrating that Democrats were all creating the housing mortgage meltdown that imploded our economy than anyone.

Frank acknowledges that the policies that led to Fannie Mae and Freddie Mac’s implosion were DEMOCRAT policies.

And it was Fannie and Freddie that led to this massive economic disaster.  From Bloomberg:

Dec. 31 (Bloomberg) — Taxpayer losses from supporting Fannie Mae and Freddie Mac will top $400 billion, according to Peter Wallison, a former general counsel at the Treasury who is now a fellow at the American Enterprise Institute.

“The situation is they are losing gobs of money, up to $400 billion in mortgages,” Wallison said in a Bloomberg Television interview. The Treasury Department recognized last week that losses will be more than $400 billion when it raised its limit on federal support for the two government-sponsored enterprises, he said.

The U.S. seized the two mortgage financiers in 2008 as the government struggled to prevent a meltdown of the financial system. The debt of Fannie Mae, Freddie Mac and the Federal Home Loan Banks grew an average of $184 billion annually from 1998 to 2008, helping fuel a bubble that drove home prices up by 107 percent between 2000 and mid-2006, according to the S&P/Case- Shiller home-price index.

The Treasury said on Dec. 24 it would provide an unlimited amount of assistance to the companies as needed for the next three years to alleviate market concern that the government lifeline for Fannie Mae and Freddie Mac, the largest source of money for U.S. home loans, could lapse or be exhausted.

Lax regulation of Fannie Mae and Freddie Mac led to the mortgage companies taking on too many risky loans, Wallison said.

“It turns out it was impossible to regulate them,” he said. “They were too powerful.” He said no one knows how much will be needed to keep the companies solvent.

You can go to another couple of my articles to see that it was Democrats’ policies and refusal to regulate Fannie and Freddie that led to the 2008 economic collapse:

Democrats Refused To Regulate GSEs, Created Financial Tsunami

How ‘Failed Policies’ Of Democrats Were Responsible For Financial Crisis

In the article immediately above, I cite a New York Times article from 1999 in which Peter Wallison saw the massive danger of an out-of-control Fannie and Freddie:

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 Barney Frank – who led Democrat opposition to fight off any effort to regulate or reform Fannie and Freddie –  thought that everything was just going swimmingly with what we now know was a future supermassive black hole implosion:

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.”

“These two entities – Fannie Mae and Freddie Mac – are not facing any kind of a financial crisis.”  Unless you consider the biggest bailout in the history of the world a “financial crisis,” that is.  The AIG bailout was $85 billion.  The GM bailout was for $49.5 billion.  Compare those to the $400 billion bailout Obama has been handing out to Fannie Mae and Freddie Mac.

“Not facing any kind of financial crisis.”

I think it’s a good thing that housing prices are dropping. . .  A 10% drop in housing prices is a good thing. Housing was over-valued.”

“I think the bubble is an entirely inappropriate metaphor.”

“One of the things we did was try to reduce the reporting requirements.”

“You could have cut back on their ability to borrow as cheaply or you could leave that benefit in place and distribute it more fairly. That’s what we chose to do with the affordable housing fund.”

DEMOCRATS CAUSED THIS HELL.  THEY WERE ALL OVER IT.

And the Democrat Party that caused this mess to begin with is out doing the same crap that imploded us in the first place all over again.