I haven't blogged in a while. Maybe I was saving my breath, or simply waiting until I felt like I had something necessary to say. Well, here I am, and this is long winded, but if you have some spare time, lets talk about ‘Change’ for a moment.
George Bush has been in office just over 7 1/2 years. The first six the economy was fine.
A little over one year ago in July 2007:
- Consumer confidence stood at a 2 1/2 year high;
- Regular gasoline sold for $2.19 a gallon;
- The unemployment rate was 4.5%.
- The DOW JONES hit a record high --14,000 +
- American's were buying new cars, taking cruises and vacations overseas… living large!
- Everything was trending upward
But American's wanted 'CHANGE'!
So, in 2006 they voted in a Democrat majority Congress and yes--we got 'CHANGE' all right.
In the PAST YEAR:
- Consumer confidence has plummeted;
- Gasoline pushed over $4 a gallon! (Thank God it’s coming down… at least until OPEC reduces production again)
- Unemployment is up to 5.5% (a 10% increase);
- American home equity dropped by $12 TRILLION DOLLARS, and prices are still dropping;
- 1% of American homes are in foreclosure.
- As I write, THE DOW is looking like it will hit another low – 8,000
$2.5 TRILLION DOLLARS HAS EVAPORATED FROM OUR STOCKS, BONDS & MUTUAL FUND’S INVESTMENT PORTFOLIOS SINCE THE DEMOCRATS GAINED A MAJORITY IN CONGRESS.
Yes, in 2006 America voted for CHANGE, and we sure got it.
Remember, the President has influence, but not direct executive control over these issues, only Congress. Watch the videos in the links below, and you’ll see a surprise from one president talking about how the Democrats resisted even HIS efforts to reign in Freddie and Fannie!
And what has the Democrat majority Congress done in the last two years to CHANGE things for the better? Absolutely nothing.
Now the Democrat candidate for president claims he is going to really give us CHANGE along with a Democrat controlled congress. More on him in a minute, but just how much more of their kind of CHANGE can we stand?
Who’s a better choice for President when we’re talking about the economy? Obama? McCain? What about Fannie Mae, and Freddie Mac, where do they fit into all this? Let’s go back in time, and put back into perspective who it was that was pushing for reform and regulatory control over these out-of-control behemoths all the way back to 2004!!! …John McCain and the Republican party! Who was it that stopped them? Democrats.
Don’t believe me? Look here to see how in 2004 the Dem’s verbally trashed the regulator, in very abusive fashion… http://www.youtube.com/watch?v=_MGT_cSi7Rs, and how Republicans were already calling for more and stricter regulations to prevent exactly what has happened now. And just wait until you get to the very end. Wait until you see who shows up at 8:15 and names the group responsible for our current Freddie/Fannie Sub-Prime Crisis which is now rocking the entire world’s markets.
If that video isn’t enough to show you the maliciousness with which the Democrats treated concerned regulators of the Office of Federal Housing Enterprise Oversight (OFHEO), the group who warned about irregularities, and wanted to correct things before the crash that was coming (which has hit us now) then try this one… http://www.youtube.com/watch?v=usvG-s_Ssb0
I’m asking you all to PLEASE watch it. If you can make it all the way to 2:45 you’ll see that it’s actually true. Even if you don’t like the FOX (Fix) News Network, you can’t deny facts that are derived from a non-partisan source.
Did you watch it? Did you see that Barak Obama is actually the NUMBER 2 recipient of donations from Fannie and Freddie!!! That the failure of Lehman Bros. on Wall Street is directly attributable to Fannie and Freddie. The global financial crisis we are in right now is directly attributable to the Sub-Prime loan programs conceived and promoted by the Democrats at the begining of the Clinton administration, and not Bush administration policies.
If you need me to walk through the credit food-chain from Freddie/Fannie to the 1) major financial institutions, the 2) Democrat resistance and stonewalling of regulatory oversight, the 3) Republican distress that Sarbanes-Oxley wouldn't apply to Freddie/Fannie, and 4) how the Sub-Prime programs spread like cancer throughout our banking system as domestic and international investment companies and banks bought the loans from Freddie/Fannie, I can do that... but I think I just summed it up pretty neatly.
A lot of people don’t realize, ‘Sub-Prime’ loans are not loans below the Prime Interest Rate. No, they are loans to people with Sub-Prime credit scores. These were programs of high-risk, low-return mortgages for ‘under-served individuals’. Under-served, or is it Undeserved?
Okay, so I’m ranting again, but come on… how can anyone vote for Barak Obama when this kind of material is out there and verifiable. Even if you don’t like McCain/Palin, they are certainly better than what this information show’s about Obama and the Democrats in general. The same Democrats who blocked reform and are now blaming the Bush administration and McCain for the Fannie/Freddie disaster!!!
Well, I say, “Liar liar pants on fire!”
My next post is going to deal with the Dow Jones Industrial Average, and it’s going all the way back to 1928… just letting you know ahead of time.
Labels: Bush, Deception, Democrats, Economy, Fannie Mae, Freddie Mac, McCain, Obama, Rant
