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Mitt Romney Wants a False Prosperity Using His Dad's Failed Policy
Business Insider ^ | 2 June 2012 | Gary Anderson

Posted on 06/03/2012 5:22:39 AM PDT by Yashcheritsiy

It was determined a long time ago, that hot money from all over the world would fund big business and mortgages. Forget small business, that had to continue to rely on bank deposits.

Mortgages and Big Business are funded by hot money. Hence, housing bubbles and momentum trading on Wall Street. The average investor has no clue that all this is going one.

One of the pioneers of this strategy was George Romney, Mitt's dad.

This funding through the securitization of mortgages resulted in the first subprime lending machine. Mitt Romney believes in this, even though small business is the key to prosperity. Jobs are the key to prosperity, not housing. Yet, government has found it easy to fund a quick boom in housing, creating a false sense of prosperity.

Housing jobs, should be a result of foundational jobs, not the end all and be all of prosperity planning!

As it turns out, Mitt Romney has hired two advisors that advised George Bush, wanting a housing bubble with hot money that did come to pass. Even though the subprime escapade of the early 1970's failed, and the subprime fiasco of the 2000's failed, Mitt believes in this method of stimulating the economy, on the backs of the middle class, because of who he has hired and because attempts to fund small business seems to have a high rate of failure or bad press, as Obama found out in trying to fund green companies.

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: economy; georgeromney; ntsa; prosperity; romney
This doesn't come from the MSM per se, but from a business perspective. If reinflating the subprime lending bubble really is Romney's game, that's pretty scary and will inevitably land us right back to where we were in 2003, economically speaking.
1 posted on 06/03/2012 5:22:44 AM PDT by Yashcheritsiy
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To: Yashcheritsiy

I certainly don’t have much hope that he’ll make much difference.


2 posted on 06/03/2012 5:27:18 AM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: Yashcheritsiy

Here is a quote from the guy who wrote the article, I guess he is an 0 supporter:

“I would be a Keynesian, but only if the framework was in place to stop speculation in markets and in housing. I oppose massive spending until there is more control of the banks, because with too much easy money at the top, they will inflate the cost of living for the rest of the people. I am against austerity because economic depressions don’t work.

My natural father was a CEO of a major New York corporation. I am adopted. That is strong motivation for my rejection of any attempt to attack these misdeeds of bankers through racial or ethnic profiling. That is a low road that leads to ethical ruin. I recommend checking out my articles below.”


3 posted on 06/03/2012 5:29:39 AM PDT by Perdogg
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To: Yashcheritsiy

“In 1962, George Romney was elected as governor. Despite of voters’ choice of sales tax increase, in 1963 George Romney proposed a state income tax in addition to the increased sales tax. A state income tax was enacted in 1967. That had a domino effect, causing Michigan cities to get “on board” and burden citizens with city income taxes. George Romney then expanded Michigan government.”

from...

http://www.mlive.com/opinion/jackson/index.ssf/2011/09/romney_shares_name_with_tax-ra.html

It seems that both George and Mitt were pioneers in states’ rights. /sarcasm


4 posted on 06/03/2012 5:30:43 AM PDT by PGalt
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To: E. Pluribus Unum; P-Marlowe; cripplecreek; cva66snipe; Elvina; greyfoxx39; Hilda; ImpBill; kabar; ..

“Governour CEO” is gonna reinflate the bubble ping!


5 posted on 06/03/2012 5:39:45 AM PDT by Yashcheritsiy (not voting for the lesser of two evils)
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To: cripplecreek
I certainly don’t have much hope that he’ll make much difference.

Me neither. But I'm still voting to fire Obama. The political heat is going to have to be applied to Romney as if he were a Democrat, because he basically is. IMO

6 posted on 06/03/2012 5:40:03 AM PDT by CommieCutter
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To: Yashcheritsiy

And so, we should embrace the failed Marxist bull of Barry’s daddy instead???


7 posted on 06/03/2012 5:42:53 AM PDT by LRS ("How many fingers, Winston?")
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To: Perdogg

That makes it even worse. If even a Keynesian can see that reinflating that bubble is a bad idea, what does that say about the quality of Romney’s decision-making?


8 posted on 06/03/2012 5:45:17 AM PDT by Yashcheritsiy (not voting for the lesser of two evils)
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To: Yashcheritsiy

I’m sure you’ll find a lot of folks in agreement with you .... at DU. Perhaps you should join there? I’m certain they will applaud your decision to sit out of this election as well.


9 posted on 06/03/2012 5:50:52 AM PDT by linear (Modern-day Pharisees loudly refuse voting for Romney but ignore the Obama camel in the tent.)
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To: CommieCutter
The political heat is going to have to be applied to Romney as if he were a Democrat, because he basically is. IMO.

Might want to take a look around FR before getting too attached to the idea of heat being applied. Conservatives are no better than democrats when it comes to making excuses.
10 posted on 06/03/2012 5:55:23 AM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: LRS

We are caught between the Devil and the Deep Blue Sea.

George and Mitt Romney were both admirers and acquaintances of Saul Alinsky. Mitt Romney is a self-avowed Progressive, a socialsit.

The only difference I find between BHO2 and Romney is that one hates America and the other accepts the exceptionalism of Americans (though he and his family would never take up arms to defend this nation).

My reason for telling you and others this is so we have the information, the knowledge to recognize when Romney should be stopped. This is why I support Tea Party candidates to Congress.


11 posted on 06/03/2012 5:55:36 AM PDT by SatinDoll (NO FOREIGN NATIONALS AS OUR PRESIDENT)
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To: Yashcheritsiy

This amounts to an indictment on little evidence. Of course Romney will needs advisers with expertise in the housing market. It is one of the major challenges he faces. This does not say that he will adopt “buble” policies. Mitt knows business, advisors won’t be calling the shots.


12 posted on 06/03/2012 6:00:36 AM PDT by CMAC51
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To: Yashcheritsiy

This isn’t much of an article. His evidence of Romney’s intentions on this count is having hired two Bush advisors who supposedly were pro-bubble—but not bothering to share with us who those two advisors might be!


13 posted on 06/03/2012 6:00:57 AM PDT by 9YearLurker
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To: SatinDoll

You won’t get any arguement from me.

I am definitely not thrilled with Mitt, no more than I was thrilled with McCain, Dole, or GWB. But what is the choice? I think you have the right idea when it comes to supporting Tea Party Congress candidates. We need a revolution, and I don’t see it coming from the top spot!


14 posted on 06/03/2012 6:03:30 AM PDT by LRS ("How many fingers, Winston?")
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To: Yashcheritsiy

Obviously the bubble was created soley by the mortgage backed securities. These were around for years. The problem was lending practices gone nuts.... It makes no sense why folks who couldn’t pay loans were buying multiple houses.

Like most government responses to a problem - they hit will a sledgehammer and damage an entire industry rather than fix the problem. Because of that I’ll give Mitt the benefit of the doubt.

The scary thing is that once the economy comes back we get to deal with the god awful inflation the Fed will have given us during the past 4 years trying to stop deflation. They have pretty much just wound the spring and it has to unwind at some point. (We get a preview of it at the pumps)


15 posted on 06/03/2012 6:09:57 AM PDT by mike_9958
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To: Yashcheritsiy

Who are you trying to fool here ?
Business Insider is a Dem party run propaganda outfit !
The guy who created it is a Hard left wing Democrat !


16 posted on 06/03/2012 6:11:46 AM PDT by ncalburt (NO MORE WIMPS need to apply to fight the Soros Funded Puppet !H)
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To: 9YearLurker

The author’s schtick seems to be making bold assertions with scant evidence to back them up.

“Like father, like son” is pretty weak substance on which to build a credible case.

The predictions of what Mitt Romney ‘wants’ detailed in this article are about as valid as those from any other phrenologist, psychic, or crystal-ball gazer.


17 posted on 06/03/2012 6:13:02 AM PDT by Zeppo ("Happy Pony is on - and I'm NOT missing Happy Pony")
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To: Yashcheritsiy

Are you a Dem party troll ???
Business insider propaganda ?
Please spare us !


18 posted on 06/03/2012 6:13:40 AM PDT by ncalburt (NO MORE WIMPS need to apply to fight the Soros Funded Puppet !H)
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To: linear

I stopped believing the “concerned poster” scam posters here.
Peddling Obama propaganda from the left wing Bus Insider outs these posters and their real motives !

Four more years of Eric Holder and company screwing with the state voters
Registration systems will destroy this country for ever


19 posted on 06/03/2012 6:17:48 AM PDT by ncalburt (NO MORE WIMPS need to apply to fight the Soros Funded Puppet !H)
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To: Zeppo

Agreed—it doesn’t reflect well on BI for posting it.

(And I’m no fan of Romney.)


20 posted on 06/03/2012 6:18:45 AM PDT by 9YearLurker
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To: Zeppo

““Like father, like son” is pretty weak substance on which to build a credible case.”

Yah, agree. However, the old man came up with some real dogs during his tenure as CEO of American Motors. A couple of exceptions being the Hawk and avanti, cool cars for sure. Just making a funny, I doubt that anything could have saved AMC to be objective, it just lacked the juice to compete with the Big Three in those days...


21 posted on 06/03/2012 6:20:08 AM PDT by snoringbear (Government is the Pimp,)
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To: cripplecreek

Better to take a chance of the Romney’s fathers policy then 0bama’ father’s policy!


22 posted on 06/03/2012 6:33:17 AM PDT by DUMBGRUNT (The best is the enemy of the good!)
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To: 9YearLurker
His evidence of Romney’s intentions

Did you check on the tax increase Romney DID vs. intentions in MA? Nothing good comes out of evil. His supporters refuse to vet the POS.

23 posted on 06/03/2012 6:46:54 AM PDT by presently no screen name
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To: presently no screen name

I was in the MA GOP at the time—I need no enlightening on the man—he’s a big government, liberal technocrat who will say or do anything to get elected.

But this is a BS excuse of an article.


24 posted on 06/03/2012 6:52:42 AM PDT by 9YearLurker
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To: PGalt

Daddy Romney ran Michigan into the ground by setting it on a “Tax & Spend” path.

Sonny Romney did the same in Massachusetts - taxes, Taxes finally Taxachusetts was created!

A Pox Upon Them!


25 posted on 06/03/2012 6:55:15 AM PDT by GladesGuru (In a society predicated upon freedom, it is necessary to examine principles."...the public interest)
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To: GladesGuru; All

Taxachussetts has one of the highest (if not the higest) debt to GDP ratios of any state in the republic.

http://www.usdebtclock.org/state-debt-clocks/state-of-massachusetts-debt-clock.html

It’s amazing that Mittens likens himself to a states’ rights kind of guy...in regards to Romneycare. A 10th amendment totalitarian is no different than a commerce clause collectivist.


26 posted on 06/03/2012 9:26:12 AM PDT by PGalt
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To: Yashcheritsiy
HOT Money??




27 posted on 06/03/2012 11:59:40 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going)
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To: cripplecreek

I’d say they have their faults but most Conservatives have a religion, unlike Democrats.


28 posted on 06/03/2012 2:10:02 PM PDT by CommieCutter
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To: CommieCutter

bttt


29 posted on 06/04/2012 4:29:44 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going)
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To: Yashcheritsiy

Business Insider is a lefty troll site.


30 posted on 06/11/2012 3:08:11 PM PDT by 2ndDivisionVet (Ich habe keinen Konig aber Gott)
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