FROM APOLLOSPEAKS' TOWNHALL ARCHIVES
2012-11-27 10:01UNBELIEVABLE! OBAMA'S NEW SUBPRIME LOAN FIASCO
Good news moochers: subprime mortgage (and auto) lending is on the rebound thanks to our Trickle Growth Recovery Moron in Chief.
Apart from the staggering deficit and debt, and the worst recovery since the Great Depression, if anyone wants proof that Barack Obama is perhaps the most insanely reckless, screwball president in US history when it comes to fiscal and economic policy look no further than to his bankrupting of the Federal Housing Authority-with the same "compassionate," "spread the wealth," subprime mortgage policies for low-income, credit poor minority borrowers that crashed the housing market in 2008. That's right, you heard me. The man who as a lying, race hustling ACORN attorney was a "contributing pioneer to the subprime loan debacle (see)," and who insulted, lied and vilified his way to a second term by warning that Mitt Romney would return us to the economic policies that "got us into this mess" is vigorously pursuing those very same policies heedless of the consequences. Now this economic crazy man wants to raise taxes on a weak recovery when tax hikes cause economic contraction. You needn't be a seer to see where the economy is headed in Obama's catastrophic second term. The story of Obama's new subprime loan fiasco is as follows-read it and weep, or feel outrage:
President Obama Eyes Lawsuits Against Banks To Cover Bad FHA Loans - Investors.com
FROM APOLLOSPEAKS' TOWNHALL ARCHIVES
2012-11-12 15:52 --PAM GELLER, GONE WITH THE WIND AND THE 1936 PRESIDENTIAL ELECTION
Barack Obama became the first president since FDR to win reelection with a pathetically weak dysfunctional economy and high unemployment. When FDR was reelected in 1936 he convinced the electorate that his New Deal recovery programs were slowly and steadily working in ending the Great Depression and restoring prosperity, as unemployment fell from a high of 25% when taking office to 17% in 1936. Though still dreadfully bad with millions unemployed the economy showed signs of improvement, and voters inspired by FDR's infectious morale boosting optimism were unwilling to change leadership. However, as it turned out, these improving conditions were not a New Morning in America but a false liberal dawn; for the great experiment of New Deal liberalism was about to crash and burn with the market collapsing in 1937 followed by millions of Americans losing work and unemployment rising to 20%.
Similarly, Barack Obama despite a weak, trickle growth, high unemployment economy convinced a majority of voters to trust him and give him a second term, while deceptively warning that his opponent was another George Bush who'd reverse what progress had been made if elected. In this respect 2012 is similar to 1936 with Obama resembling FDR, except that the later won reelection in a crushing landslide while Obama (being no FDR) won significantly less popular votes and fewer electoral votes than in 2008-a first for a reelected president.
Now this analogy between 2012 and 1936 brings me to an unusual dream I had last June after Romney clinched the Republican nomination in Texas. Pam Geller over at Atlas Shrugs commenting on the campaign reluctantly predicted that Romney wouldn't and couldn't defeat Barack Obama because the media was in the tank for him serving as his propaganda arm*. Despite that I believed (wanted to believe) otherwise. But that night I had a short distressing dream that Pam might be right and that Romney was fated to lose. I dreamt I was alone with Pam in a room where I was sitting on a couch reading a book, while she was pacing back and forth talking to herself (not to me) and wearing a worried look. The book I was reading was an old worn edition of Margaret Mitchell's Gone With The Wind. Then I woke up.
*Pam subsequently came to believe the election was winnable.
Now having seen the epic film without having read the book I wondered what the dream could mean, if it had meaning at all. Was there a connection between Gone With The Wind and Pam Geller that could help me understand the dream? Was the film and the book a favorite of hers? Pam has nostalgia for the America of the 1940s, 50s and early 60s, that much I know from her weekly Saturday Night Cinema posts (see). Could the dream then have meant that the old America was gone forever never to return swept away by the winds of change (Gone With The Wind) like the Old South after the Civil War? Is that what the dream meant? Perhaps in part. The other part, the one related to the election and Pam's prediction, was that Mitchell's book was published in the year 1936, the year FDR won his first reelection. Given Pam's pessimistic election forecast the day before (predicting, in effect, that Obama like FDR would be reelected bad economy and all) and my reading in her presence of an American romantic classic published in 1936 what that says to me is that Obama was destined to win, and that a different candidate (Gingrich, Santorum, Pawlenty, Houseman, Bachmann, Perry, etc.) wouldn't have made a bit of difference.
But my dream wasn't the only sign pointing to this election year being 1936 redux. As I look back the earliest sign was Obama's defeat of John McCain in 2008. For McCain was born in 1936* 9 weeks before FDR's landslide defeat of Alf Landon. Moreover, like McCain, Obama's own father Barack Obama Sr. was also born in 1936 21 weeks before the election (see)**.
*August 29, 1936
**June 18, 1936
Another sign of Obama's reelection destiny was Roland Burris the Chicago politician who stepped into Obama's senate seat in 2009. Unlike McCain and Obama Sr. Burris was ominously (for Obama) born a year later in 1937* the first year of FDR's disastrous second term-perhaps warning that Obama's second term could or will be every bit as calamitous economically due to crushing debt, Obamacare, FinReg and EPA regulations, and the contracting economies of China and Europe**.
*Burris was born August 3, 1937 (see).
**Joe Biden was replaced in the Senate by Ted Kaufman. Born March 15, 1939 Kaufman like Burris was born during FDR's second term (see).
And lastly, there is the numeric sign 1936: As Obama is president number 44 and 44 has two terms 1936 is 44 squared or 44x44 symbolizing two terms for president 44.
As I said above, FDR's second term was a disaster for the New Deal so much so that Henry Morganthau, FDR's Secretary of Treasury, admitted before Congress in 1939 that it was a failed experiment in government stimulus spending-which is what Obama's new New Deal (Obamanomics) is as I write (see).