Posted on 02/22/2009 5:44:22 PM PST by dvan
Using the analogy, Obama probably thought he was the iceberg; but then again, Al Gore thinks he controls the weather. The Democrats seem to think that they are the Greek gods. This delusion doesn’t make them godly, however.
The truth is that Obama is an empty suit. All he knows of life he got from Bill Ayers and the Chicago machine. In the Senate he voted down the line for the left. Even Bernie Sanders, the socialist, voted with more common sense.
He surrounds himself with ivory tower academicians and Clinton functionaries, and he does what they tell him to do, because every time he comes up with an idea, they blow it more full of holes than a Swiss cheese.
But the problems he faces aren’t just extraordinarily bigger than he is, they are bigger than the entire Democrat party can face. And all the promises of largesse they have made for over 60 years are falling apart.
The very best thing the Republicans can do right now is to solidly oppose anything the Democrats do. They can’t stop the ship from sinking, but at least they can be in the rowboats.
I don't believe as others do about Bush causing this economic catastrophe we find ourselves in. Even some on FR seem to accept that.
It just seemed to me Bush was helpless to stop the Democrat Congress due to political considerations and the media's successful campaign to smear him to the point where he lacked any credibility to act.
The 110th Congress was responsible for the recession and it may have done so intentionally.
The principle reason for the sharp spike in gun sales.
it was the 1990’s
bank lends to bad neighborhood.
not sold to fannie or fredie.
democrats have their socialist housing program via workaround.
Truthfully, Fannie and Freddy were just the tip of the iceberg. The real problem is with little or unregulated multi-leverage markets, like derivatives. They were dealing in sums far greater than the entire world GDP, more than 10 times larger than the US national debt.
Multi-leverage is just insane. Say, you have a dime, so you use it to borrow a dollar. Then you use that dollar to borrow ten dollars, use them to borrow 100 dollars, 1,000, 10,000, 100,000, million, billion. Nothing backs it up but that original dime, and all the money is good for is borrowing more money. It is like double or nothing gambling.
However, with this insanity going on, it drains money from the market at amazing speed. Money that otherwise could have been used to support the bad loans of Fannie and Freddy, and in the future still to come, could have supported the alt-a and ARM mortgages, that are 1.5 times the size of the subprime mortgages.
It also sucks money that could be used to buy Treasury bills, that would support Obama’s spending spree, and the huge returns on investments in the nation’s pension funds.
W. Bush saw the trouble developing in Fanny and Freddy, and tried to stop it, but it didn’t really matter in the long run. If anything, he is probably desperately glad to be out of office.
Some time ago, I saw an article or an email about a teacher/professor who gave a quiz to his students using the talking points of an election and they were to vote for the candidate of their choice. It turned out that most of them voted for Hitler. Can anyone point me to a copy of this?
I have searched but cannot find it. Thanks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.