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    Back In The Real World

    Back In The Real World

    Things are not going so well for the administration, or the country:

    And this rather ominous news:

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    Excuse me, I don’t think elephants created the preventable problems of GM and Chrysler. But who did? Hmmmm – let me think… OH YES! It was the intractable UAW who, I believe, vote like a bunch of Donkeys…

    Anthony,

    Do you mean, the mess created by Jimmy Carter's Community Reinvestment Act ( & amped up by Clinton) forcing hundreds of thousands of mortgage loans onto people who were, for those loans, bad credit risks?

    This mess which found a lethal secret suicide weapon in the 'credit default swap', which in the yr 2000's reg reforms was specifically unregulated (designed by a Clinton wonk who is now Obama's new chief commodity-regulator), which rose from a few hundred billion of 'toxic assets' in yr 2000 to 60 trillion in yr 2008?

    This mess which, if it were to be blamed on one thing only, that thing would hands-down have to be the democratic party political protection against all efforts to reform Fannie & Freddie before they could inject the trillions of 40:1 levered poison-paper into the global carotid artery?

    This mess featuring G. Soros buying heavily into Lehman Bros in August, just before DC refused to on Sept 15 do as all indications had led the financial world to expect, and as it had indicated it would, that is, save it, like it had every one of the half-dozen comparables, instead inexplicably letting it leap off a cliff, thus setting off the September Panic?

    This mess hyper-amped by the September Panic when bank stocks were driven down (led by London & Dubai no-name dark-pool hedge funds) 70% in a half-dozen trading days, led by naked short-selling (seven billion phantom shares in the DTCC) amounting in September to ten-times-normal short volumes?

    This mess we STILL couldn't be in now, without the three inexplicably blue-sky crash, panic, & depression-enabling yr 2007 SEC rules changes (yes, that would be the "see-no-Madoff" SEC) –the uptic rule (a change of a fifty year old stable-trading rule), the allowable lending leverage (from traditional 10:1 all the way to 40:1 in one zoom), and FASB rule 157 (the mark-to-market bank-insolvency-machine reinstituted after FDR in 1938 had banned it)?

    This mess, all of it and so much more to come, the great hundred trillion of disappeared world wealth, which had no apparent start-up rationale other than to creat the conditions of the crisis now created and conditioned?

    This mess all personnel-spiderwebbed and sequence linked, going into high gear on the 2006 election and all coming to a head right before the 2008 election –and giving the new president a "no-rules" crisis with which to attack the conditions of 230 years of envy-of-the-world American free markets?

    THAT mess?

    If so, Anthony, um, please look into that 'elephant' thing, wouldja? They deserve that Pareto 20% –for not figuring out and then warning the nation what the Democrats are really doing to it.

    Those elephants made a mess running the country like leftists.

    Now we got an even worse leftist in office. We are all screwed.

    Those elephants ran the country like donkeys. Now we got a dude further to the left of Bush – this country is going down.

    We need real conservative and libertarian leaders, none of this “progressiveness” or “compassionate conservatism” rubbish.

    Oh yeah, of course it is all Bush’s fault, he came up with Don’t Ask Don’t Tell as everyone knows. Also his bloodthirsty fetish for torture of random goatherders has cost us aplenty, inflaming jihadis and all.
    On one topic that assertion carries weight however and that is on economic interventionism. Bush’s deficit spending on unconstutional crapola made me sick but Democrats objecting to it made me puke. Few suckers casting their ballots knew the simple historical fact that if profligacy is the disease, Democrats are the cure like a bullet cures cancer. Well, you guys have your chance now. If printing eight times the money that has ever existed to buy sex changes for crack whores is a good idea, that will be proven but what is already proven is that those cranky nuts who objected that Bush was too liberal in 2000 were completely correct. But he was willing to prosecute a war that was waged on us for decades without answer. Happily, in Iraq at least, Obama seems to have seen the light. Progress….


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