I must be in some awful dream these days. Otherwise I cannot explain the madness all around me.
The housing bubble was created by Alan Greenspan, when he lowered the prime rate to 1% and held it there for 2 years. This caused cheap money to flow into the hands of Obama constituents. That is the weak, the lazy, the poor, the unskilled, the unemployed. In other words your typical Democrat. These parasites bought $600K homes using food stamps as qualifying income, thanks to the relaxed rules implemented by Bill Clinton and Barney Frank.
Fast forward a decade and we have a housing crash of untold proportions.
And the fix for it is? Lower the rate back down to 1% and make housing loans available to anyone with a pulse. That's what the "experts" (see post below) are asking for.
If after all this, the people still go back to the polls and vote in Chris Dodd, Barney Frank and Obama, well then this country truly deserves to be destroyed.
Here is a preview of the next 8 years of economic policy. Go to 0:25 for the really good stuff.
Tuesday, October 7, 2008
Pinch me
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