Feeding the flames of recession

Canada Free Press ^ | March 5, 2009 | Klaus Rohrich

[Zakeet]

Since the coronation of Barack Obama as Savior and Messiah it has become obvious that all the economic programs he is advocating are in fact social programs that will accomplish nothing, except prolong and deepen what might have been a relatively short recession.

Take the proposed “bailout” of mortgagors who are in default and stand to lose their homes. The $275+ billion program Obama is pursuing to provide funds that will allow so-called responsible mortgagors in default keep their homes will do much more harm than good. First and foremost, the mortgage bailout will keep housing prices artificially high, as mortgagors in default would otherwise lose their homes, which would then be offered on the market under power of sale. Subsidizing those mortgagors with taxpayers’ money and allowing them to keep their homes is hiding the real problem and keeping real estate prices from reaching their natural levels, not to mention the gross lack of fairness.

The program also adversely affects lenders as they are forced through government mandate to keep bad loans on the books and in some cases lower the amount of principal and/or interest on those loans. What’s more, it also keeps potential homebuyers with money and a job who might otherwise qualify to buy a home from purchasing because of the government’s refusal to allow home prices to reach their own natural level.

But the housing sector isn’t the only area of the economy in which Obama’s meddling will have serious long-term effects. Since being elected the stock market has lost close to 3,000 points, which is more than was lost during last autumn’s panic sell-off.

[Snip]

Then there is the issue of increased taxes.

[Zakeet]

Much more in the article about the harm caused by the Community Organizer.

[Diana in Wisconsin]

“Democrats relish bad times because they tend to do well at the polls. So it appears that the Messiah is ensuring that Americans will live under tough economic times for many years to come in hopes of permanently bolstering the Democrats hegemony.

The only problem is that there is an inherent fallacy in that line of reasoning. Americans aren’t as stupid and helpless as the Obamanites believe and sooner or later there will be a reckoning.”

It’ll take a while, but it’ll come. Hopefully as soon as 2010. :)

[Man50D]

Obama's strategy Cloward-Piven Strategy.

[Jimmy Valentine's brother]

Thanks for linking to the strategy.

[MEGoody]

I wonder. . .are any of the FReepers who refused to vote for McCain sorry? Or are they all atwitter because they believe the damage Obama is doing to our country will cause people to vote Republican?

I'd really like some feedback from some of those FReepers about whether or not they regret how they voted (or didn't vote).