Posted on 02/21/2009 12:41:22 PM PST by Ernest_at_the_Beach
UPDATE 2/20/09: It appears Obama’s White House is mocking CNBC’s Rick Santelli’s criticism of the Obama admin’s housing plan. Apparently:
White House press secretary Robert Gibbs poked fun at Santelli by inviting him to come to the White House to read the details of Obama’s plan. “I’d be happy to buy him a cup of coffee,” Gibbs said. In a nod to Santelli’s caffeinated style, Gibbs then wryly added: “Decaf.”
All I can say to Gibb and Obama is… PICK ME! PICK ME! I’m ready, you idiots….
Back to your usual programming….
Oh fer heavens sake, are these people brain dead in Washington? And whoever Obama has “outsourced” his so-called-foreclosure-rescue bill to has really proven to ignore realities about our foreclosure problems.
It was back in September that I put together the post on the perfect storm of events that, combined, led to this housing bubble… and it’s ceremonious burst sending shockwaves thru the economy.
Figuring prominently in those events was the astronomical rise in housing prices that started late 1997, and ran thru late 2006 and part 2007. It’s as simple as this… house prices are too danged high. And even with the decline that all in the beltway are moaning about, they are still higher than they would have been traditionally with the normal, conservative appreciation yearly that has always been the hallmark of homeownership.
So what do we have in Obama’s… or whomever he’s playing the dummy/ventroloquist act for… in his Homeowner Affordability and Stability Plan?
Audacity meets absurdity.
First, let’s address the few details we have. WSJ ’s Evan Newmark had an article on the WSJ blog yesterday, pointing out only some of the idiocies these beltway brain trusts have come up with.
(Excerpt) Read more at floppingaces.net ...
More detail....
Welcome to the Obama Homeowner Affordability and Stability Plan — a complicated wealth redistribution scheme dressed up as a cure for the nation’s housing woes.
the demonrats created the problem and now they are going to fix it with the same regulations that created it.
Stupid is, as Stupid does. (Sorry Forest, I know it’s insulting to you)
Some folks will probably have to chose between taking free government mortgage money — or just taking the house.
http://www.freerepublic.com/focus/f-bloggers/2190591/posts
Thanks Ernest.
The Beginning of the End for Investing?
Smart Money | February 20, 2009 | Donald Luskin
Posted on 02/21/2009 10:36:39 AM PST by Ernest_at_the_Beach
http://www.freerepublic.com/focus/f-news/2190855/posts
and thanks null and void:
The Illustrated Road to Serfdom
(Short Cartoon Describing Planned Economies)
Mises.org | 1944 | Friedrich Hayek
Posted on 02/20/2009 1:37:26 PM PST by Recovering_Democrat
http://www.freerepublic.com/focus/f-news/2190282/posts
Another Huge Spending Bill Planned For Next Week
HumanEvents.com | 2/20/2009 | Connie Hair
Posted on 02/20/2009 6:22:49 PM PST by 2nd amendment mama
http://www.freerepublic.com/focus/f-news/2190501/posts
and thanks neverdem:
http://www.freerepublic.com/focus/news/2189539/posts?page=28#28
http://www.freerepublic.com/focus/news/2190186/posts?page=4#4
http://www.freerepublic.com/focus/news/2190612/posts?page=6#6
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