How the Democrats Nearly Destroyed the Economy

Townhall.com ^ | June 24, 2011 | Mona Charen

[updatedscreenname]

The article is lacking two key points.
Why did they open up the lending to low income, dogs and cats?
The answer to this question is still the problem.
Demographics! The housing market is driven at the base by first time home buyers. Due to our population shifts, abortion, birth control, and student loans the flow into home ownership slowed. To increase the demand the loose lending policies were implemented. We still have a very big demographics problem as the boomers are moved into nursing homes.

The other strategic problem not mentioned is energy prices.
When gas prices peaked those on the bubble had to choose between filling up the car to get to work or making the mortgage payment. We still have the gas price problem and now it has grown into food prices and is causing inflation.

[pnh102]

Nearly?

[DaxtonBrown]

[How the Democrats Nearly Destroyed the Economy]

What do you mean “nearly”?

[Tallguy]

Starting just a few years after the Kennedy assassination, American liberals began to consider anti-communism a kind of mental disorder. Hostility to communism was akin to racism, sexism and other character flaws. Reagan's description of the Soviet Union as an "evil empire" cemented liberal suspicions that Reagan was a dangerous buffoon. Yet starting in 1989, when the Berlin Wall fell, liberals began to find their anti-anti-communism embarrassing. And so they created a perceived history -- one in which the Cold War was a time of consensus, a time when, as former Sen. Bill Bradley put it, "We knew where we stood on foreign policy."

Interesting. I'm guessing this is because of the Kennedy's... specifically Teddy. John & Robert were both Cold Warriors. They bungled some stuff, but they both believed in opposing the Russians. It is now coming to light that Ted was either acting on behalf of the Russians or was just a fool in thinking he could manipulate the Russians to his own advantage. The Kennedy-clan created "Camelot" after-the-fact. Re-writing the history of the Cold War goes hand-in-hand. Same tools, same motivations.

[sickoflibs]

RE :”Once the Democrats had the policies in place, do you think the GOP had anywhere near the power to reverse it?”

You mean the Republican party that had the WH and both houses of congress? Bush was too busy doing this with his presidency:

Bush pushes minority homeownership (FR post | June 15, 2002 | By KATHY A. GAMBRELL)

Bush seeks to increase minority homeownership (FR post USA Today ^ | 1-20-04 | Thomas Fogarty )

President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)

Speaker Hastert Touts Law Closing the Homeownership Gap for Minorities (FR Post Wednesday, October 01, 2003 )

Fact Sheet: Expanding Homeownership Opportunities for All Americans (December 16, 2003 American Dream Downpayment Act of 2003)

Compassionate conservative was proved to be a huge failure under Bush as all those minorities voted Democrat by 2008 after they lost all those homes promoted above.

Yes I know what the Republican-Bush-Apologist talking points are about this, that is the main reason I have trouble listening to talk radio.

[Reeses]

In other words, it was political conservatism that led to John F. Kennedy's assassination.

The most glaring example of leftist projection is their claim that the socialist Hitler was right wing. Leftists display their failings daily by what they project as far as they can onto the right.

[Siena Dreaming]

Yes, the Repub party which had both Houses of Congress and the WH.

I guess you missed how the MSM/Dem axis slung mud daily at Bush, flinging lie after lie on an hourly basis about the WOT and you missed how the public ate it up?

Do you really think legislation to "deny minorities the most basic of human 'rights' " (i.e. housing) would have worked?

What would have happened is that the Dems would have taken the House 2 years earlier and all war funding for the WOT would have ceased.

You cherry-picked quotes from Bush talking about minority ownership (which by the way DID increase even in the sub-prime area), but did not comment on how Bush sent his guys to Congress to warn them to reform the laws. Do you really think Barney Frank was going to shut up and the MSM was going to report things honestly?

[phockthis]

sfl

[Jim Noble]

I hate the misuse of the term "the economy".

What Obama and the Democrats (and the Republicans) have destroyed is the money. Congress has failed to carry out its Constitutional responsibility to regulate the value of money for 98 years, and the result is what we have now.

No money system lasts forever, though. History is littered with the remains of destroyed money systems.

This is not at all the same as "the economy".

In fact, as soon as Constitutional money is restored, so that the productive activity and natural resources of this land can be properly valued and orderly exchanges can resume, "the economy" will take off like a rocket.

The false economy of housing prices, derivative exchanges, and selling Jackass DVDs will be erased, of course - but that's the whole point of sound money, isn't it?

[Liberty Wins]

Nothing has changed. They are still making subprime loans. Go to any mortgage broker website and you will see the pigs are still squealing and fighting to get their share of the government slop.

[sickoflibs]

RE :”I guess you missed how the MSM/Dem axis slung mud daily at Bush, flinging lie after lie on an hourly basis about the WOT and you missed how the public ate it up? Do you really think legislation to “deny minorities the most basic of human ‘rights’ “ (i.e. housing) would have worked?”

Those are two different arguments:

1) That Bush was beaten up by Democrats over the WOT.
(What does that have to do with telling the truth about what Bush actually did on housing loans for minorities?)
2) That Bush would have gotten beaten up even more if he proposed laws to deny minorities housing
(This has nothing to do with anything, it is easily proved below that Bush did the opposite of that, he pushed policies through a Republican congress to get poor minorities with bad credit home loans and then bragged about it)

You cant have it both ways (except in party centered politics.) You cant brag that you got minorities w bad credit in homes and then later when it leads to disaster claim it was really Democrats that did what you ALREADY bragged that YOU did and you were not able to stop it, even though you had the WH and congress. Yes, I heard this :'But Democrats wanted him to do it so we can deny he did it' argument before, it wont sell in the internet age.

Bush home Ownership links:

Bush pushes minority homeownership (FR post | June 15, 2002 | By KATHY A. GAMBRELL)

Bush seeks to increase minority homeownership (FR post USA Today ^ | 1-20-04 | Thomas Fogarty )

President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)

Speaker Hastert Touts Law Closing the Homeownership Gap for Minorities (FR Post Wednesday, October 01, 2003 )

Fact Sheet: Expanding Homeownership Opportunities for All Americans (December 16, 2003 American Dream Downpayment Act of 2003)

[Siena Dreaming]

(What does that have to do with telling the truth about what Bush actually did on housing loans for minorities?)

You remarked that Bush had both Houses of Congress, implying that it would have been easy for him to reverse an entrenched, very popular program the Democrats has invented.

I told you why this was dead wrong.

Bush did not PUSH the policies. I also told you how he had his Cabinet members go before Congress to try to get reform. There is NO WAY this was going to happen without him losing both Houses much earlier, thus putting the WOT in peril.

[US Navy Vet]

Spoken like a true RINO BushBot. Bush was a First Class WUSS who NEVER stood up for himself and NEVER met a Big Govt “program” that he didn’t like. Bush(41/43) were and are more like Ford than Reagan.

[Siena Dreaming]

Bush was a First Class WUSS who NEVER stood up for himself

I remember the day Pelosi was threatening to hold back funds for Iraq.

Bush basically announced that he was going to start to publicize how the Democrats held back funds from Vietnam and it led to the boat people exodus.

Nancy did a fast 180 and released the funds the next day.

Yeah...you're right...Bush didn't stand up just for himself, he stood up for the military and the country.

[sickoflibs]

RE :”You remarked that Bush had both Houses of Congress, implying that it would have been easy for him to reverse an entrenched, very popular program the Democrats has invented. ”

NO, you like to repeat that strawman argument you made up. My argument is one you have no defense for:
Bush had both houses of congress and so could stop his own minority home ownership policies by not promoting them(below):

Bush pushes minority homeownership (FR post | June 15, 2002 | By KATHY A. GAMBRELL)

Bush seeks to increase minority homeownership (FR post USA Today ^ | 1-20-04 | Thomas Fogarty )

President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)

Speaker Hastert Touts Law Closing the Homeownership Gap for Minorities (FR Post Wednesday, October 01, 2003 )

Fact Sheet: Expanding Homeownership Opportunities for All Americans (December 16, 2003 American Dream Downpayment Act of 2003)

[US Navy Vet]

Rino kool-aide taste good today?

[Siena Dreaming]

I guess you don't think Bush stood up for the military?

[Siena Dreaming]

http://newsgroups.derkeiler.com/Archive/Rec/rec.bicycles.racing/2008-09/msg02668.html

[US Navy Vet]

Yep sure did, all the while for 2 SOLID Years his POS “Generals” Abizaid and Sanchez and BUTT-BOY L. Paul Bremer let our guys get IEDed at the cyclic rate.

[sickoflibs]

RE :”Bush did not PUSH the policies. “

REALLY?????, what do you call this speech he gave?

GWB 2002 Speech :”We have a problem here in America because fewer than half the Hispanics and African Americans own their own homes. That’s a home ownership gap; a gap that we got to work together to close. And by the end of this decade we’ll increase the number of minority homeowners (future Obama voters ) by 5.5 million families
“ One of the major obstacles to minority home-ownership is financing. Fannie Mae and Freddy Mac (who I will bail out in 2008) have committed to provide more money for lenders, they committed to meet the shortage of capital available for minority home-buyers. Freddie Mac just began 25 initiatives around the country to dismantle barriers (like income requirements) and create better opportunities for home-ownership. One of the programs is designed to help families with bad credit histories to qualify for home ownership loans (by faking their income) . You don’t have to have a lousy home for first time home-buyers. You put your mind to it the first time low income home buyer can have just as nice a house as anyone else (till those adjustable rates go up). “

President Bush Mortgage Speech 2002(Helping those w bad credit buy houses)