Sunday, June 20, 2010

Obama’s Economic Policy: Deny Truth

"Don't worry!  We will handle the economy.  Woo woo!"
Obama's Economic Policy: Deny Truth

I don't suppose anyone would be interested but didn't the misallocation of credit lead to the problems we have today? Wasn't the burst housing bubble caused in a large part by policies that were begun under Jimmy Carter, expanded by Bill Clinton and continued by a Congress where the architects of the policy, Barney Frank chief among them, insisted that there was no problem with the operation of Fannie and Freddie and their backing of sub-prime mortgages? Chris Dodd's latest as the Democrats were turning back a Republican proposal to require a minimum 5% downpayment on loans backed by Fannie and Freddie actually tells the truth. He said, in effect, that such a proposal was out of line because it would keep people who couldn't afford houses from buying them. That means, of course, that the Neo-Lib Democrats are absolutely trying to ensure that the economy goes completely in the tank. When it does that they will blame George Bush and institute the central economic planning that they so dearly worship.

November is going to be a very important election.

Oh, and a final note: Yes, President Obama lies. Easily and fluidly. But he does it so articulately!

Follow the link for an excellent read.

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