Housing Industry now Nationalized

I let others piss and moan about socialism, I'll just look ahead to see what the bail out of Freddie and Fanny means. First, it had to be done because action had to be taken before the end of the weekend, and while all the pundits have plenty of time (but no power) on their hands and don't see the risk to WORLD markets (China owns at least 30% of our mortgage paper for example) many of which are teetering on the brink right now, especially Spain and England.

Mortgage money is now available here. A floor can be placed under the housing market, which means that your mortgage is now safe, your home value is now safe, and new building and buying can happen. Had they not acted the Arabs, who own about 35% of our paper, would have reacted and gasoline would have been $6 per gallon (with a near worthless dollar) by Thanksgiving. This was indeed Armageddon happening and far too few people were willing to say so. The near term future seems bright.

Then what? Senator Showboat (Dodd of CT) will hold hearings this week so all the criminals in Congress really responsible for this horror story can blame Bush and the banks. This is a necessary step so that their Messiah as well as the sitting criminals can be elected and reelected n November. But what is in our country by this time next year should concern all of us. An avalanche of minorities without jobs, women with bad jobs, the infirm who will never have jobs, together with every small time leftist pressure group will demand the "right" to a mortgage (Illegals "deserve" a piece of the pie) and Congress will happily comply. Want a fifty year mortgage at 2% from the government? Sure Mr. Flake and don't worry if you miss a few payments. The government can loan money in any amount for any interest they choose. Why not? It's our money....Well that ain't true either because all money will be owned by the government. None of it is ours.

I think that this is the end of any pretense of a free market capitalist system and we are virtually France West. Just remember, it wasn't the Left that did this, it was the banks and other business interests, together with a more than compliant (corrupted) legislative government branch that brought this on. Only question is, would any of this happened had Sarah Palin been in charge?


Anonymous said...

It appears you are ahereing to the Right's attempt to sneeringly refer to Obama as the "Messiah" or the "One", knowing the real intent is to characterize him as the false Messiah... which has biblical connotations meant to incite certain Christian elements. I love aspects of your crudeness... just not this one.

Xiaoding said...

It was the Obamamites who started this, not the Republicans. People began to tell how they "came" to Obama, like he is some sort of god, rather than a new age frontman for the Chicago mob.