Wednesday, October 01, 2008

Oh, really?

This video is the answer to Barack Hussein Obama's rant about "failed Bush administration economic policies."

Fritz Hippler, who ran the film department of the Propaganda Ministry of the Third Reich, was an expert in selling lies to the public. His formula: simplify and repeat - that is reduce an idea to a word or a short phrase ("change" or "failed economic policies") and repeat it as often as possible. People will eventually come to accept it as fact.

The FACT is that the Democrats pushed through the Community Reinvestment Act during the Carter administration to give incentives to help low-income borrowers get a home. It worked fairly well until 1995 when, during the Clinton administration, the Democrats expanded it and made it possible for groups like Acorn (referenced in the above video) to pressure banks into making home loans that were certain to fail, all in the name of social engineering. And Obama was right in the middle of it, training Acorn people in Chicago to coerce banks into financial suicide.

He calls it "community organizing." Simplify. Repeat. Simplify. Repeat.

The Bush administration proposed a new agency to oversee Fannie Mae and Freddie Mac in 2003 in what the New York Times called "the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago." The Democrats killed it.

John McCain was a co-sponsor of the Housing Enterprise Regulatory Act of 2005, also designed to regulate Fannie Mae and Freddie Mac. The Democrats killed it too.

So when you hear Obama and Nancy Pelosi chanting the "Bush administration failed economic policies" mantra, understand that it was the Democrats who created the mechanism for this economic disaster and who repeatedly thwarted attempts to avoid it.

And, yes, I take this personally because I've been making two house payments for a year and am sitting on a house that was once appraised at $210,000 but I couldn't sell it for $10,000 today because nobody can get credit to finance a house purchase.

And I'm watching my 401K's value drop like a rock. In short, the accumulated savings of my lifetime are being wiped out and a significant portion of the public wants to put the blame on the people who tried repeatedly to prevent this calamity.

We are being asked to ignore the facts, pretend that John McCain is indistinguishable from George Bush, and reward the very people who are wrecking our economy by electing one of the principal players to the White House.

So that's why I'm in no mood to write a chatty little blog post about the weather or my dogs or some motorcycle trip I'm planning.

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