The Telegraph has an article titled “Why should we take advice from a president who has surrendered the world to chaos?“. I am surprised the media is finally admitting that the bulk of the people that used to believe Obama was going to save the planet now see that Obama has been a crappy POTUS and has done more harm to world stability than any president in my lifetime, including Jimmy Carter and the left’s Boogaboo GWB. Obama is nothing more than a community organizer, and a lousy one at that because his ego gets in the way, and we are all going to suffer long and hard because of the damage he and his administration – including the criminal old woman running on the premise that it his her turn because her plumbing is on the inside – have wrought.
Tag: Progressive policies are stupid
At the risk of you thinking this idiotic NYT article “titled How Regulators Mess With Bankers’ Minds, and Why That’s Good” has to be an Onion piece, from back in the days before a Hillary shill bought the Onion and turned it into a parody of itself, I am still bringing it to your attention. From the article:
Bank regulators on Wednesday sent a message that big banks are still too big and too complex. They rejected special plans, called living wills, that the banks have to submit to show they can go through an orderly bankruptcy.
The thinking behind the regulators’ call for living wills is that if a large bank crash is orderly, there will be no need to save it and no need for taxpayer bailouts.
Pretty straightforward, right? Not for the banks.
The regulators deliberately did not communicate the exact things the banks needed to do for their plans to pass muster. In this way, they kept them on their toes — and treating powerful banks this way may end up playing a surprisingly important role in keeping the financial regulation effective over time.
Emphasis mine. In a system where they need you to not understand and know all the rules so they can come after you whenever it hits their fancy, you have stopped being a nation of laws and equal men, and become a tyrannical shitbag. For you fucking morons that think this is cool because the target is those evil bank, remember that these crooks have no problem applying this practice not just to their opposition political enemies, but to anyone that pisses them off.
And leave it to a shill for the DNC and the crime syndicate running DC these days to actually make the argument that this kind of practice is a good thing somehow, because when they don’t understand the laws it makes it less likely that they will sidestep them. Can you imagine the reaction of these idiots at the NYT if it was a republican president doing this shit? Can you imagine their heads exploding if that president did this to one of the left’s near & dear causes? Can you imagine the IRS telling those of us that actually pay taxes this is a good practice for them to have in place as well? All so you don’t get any bad ideas about abusing the system. And can you see them accusing you of doing exactly that when the lack of clarity causes you to make a mistake?
Only the left can go this low to defend the indefensible. We deserve what’s coming our way for giving these people power. When the banking system ends up experiencing another meltdown due to the lack of clarity of an obviously idiotic system that tries to defy the laws of nature and economics, do you think they will take the blame for it? Oh, who am I kidding. They will blame everyone but themselves, then demand that they be allowed to “fix it”. Calling this shit criminal or a travesty is being to kind.
Yesterday I had a post about how a communication by the NAVY Sec Mabus clearly showed that the military was about to lower standards for access into some of the most demanding and dangerous combat specialties due to the demands from the PC political class. Today we have a revelation form retired Marine Corps Gen. James Mattis about how horrible the current US foreign policy landscape looks.
Because the United States lacks a global strategy, “volatility is going to get to the point that chaos threatens,” a former Central Command (CENTCOM) commander told a Heritage Foundation audience Wednesday.
Speaking in Washington, D.C., retired Marine Corps Gen. James Mattis said, “the perception is we’re pulling back” on America’s commitment to its allies and partners, leaving them adrift in a changing world. “We have strategic atrophy.”
Again the missing item here is what? I am not even gonna bother with a long lead up and just point out that the elephant in the room is that the idiots that were going to stop the rise of the oceans, heal the rift that warmonger devil Boosh caused with his cowboyism between us and every civilized nation on the planet, and show the world that the dog that rolls over and exposes it’s neck and belly to the aggressors would garner their sympathy and get them to stand down.
Yes, this for me is an opportunity to again point out that I told you so. In my wildest nightmares I couldn’t think anyone would do more harm than Carter did, but Team Obama has usurped that title with panache and certainty. People forgot how dismal democrats are at anything that has to do with the real world, and it reflects, not just in the current economic and political climate at home, but in our foreign policy and the disasters of the last 6 years, as well. I wonder if that Nobel Peace Committee has thought about asking Obama to return the prize they gave him to spite Boosh? I am certain that all the other idiots around the globe that rooted for an Obama win – with the exception of the ones in countries such as China, Russia, Iran, North Korea, Cuba, and Venezuela amongst a long list of rogue nations that were salivating at the chops for another weak ass in chief – and the subsequent “maturity” in the new US foreign policy are kicking themselves these days.
Our enemies get treated like a hooker afraid of pissing off her pimp, while our friends get treated like the hooker by her pimp. It’s a shame and a travesty. The world is now a more dangerous place because the supposed adults have been in charge and have done a “reset”. The consequences of having these in charge will be felt for a long time, and we have not yet seen the worst of it.
WaPo has an article how the newly elected government of India has opted to roll up their sleeves and go to work and gave up pleasures like golfing. I am certain this is the WaPo’s way of criticizing Obama, whom has set new records for finding things to do that don’t involve working, and spurring him on to fixing the mess we are in. Unfortunately for those of us that are not idiots of the left, and understand our problems are caused precisely because the leftists in charge are doing “something” to fix things, this is obviously a terrible piece of advice for the WaPo to give. In fact, I would like Obama, and for that matter most, if not all, democrats, to do nothing but go golfing, or whatever. What the country needs is less of these people trying to fix things, because that’s why we are in the mess we are in.
Check out what happened to yet another whistleblower that showed that the Florida States Attorney’s office was doing shady shit. From the article:
State Attorney Angela Corey fired her office’s information technology director Friday after he testified last month about being concerned prosecutors did not turn over information to George Zimmerman’s defense team in the shooting death of Trayvon Martin.
On the same day attorneys finished their closing arguments in that nationally watched trial, a state attorney investigator went to Ben Kruidbos’ home about 7:30 a.m. to hand-deliver a letter stating Kruidbos “can never again be trusted to step foot in this office.”
The letter contended Kruibos did a poor job overseeing the information technology department, violated public records law for retaining documents, and noted he was questioned in March when the office was trying to determine who had leaked personnel information obtained through a computer breach.
He was fired for daring to go against the politically motivated scumbags that helped generate the “Trayvon Martin was killed by a honkey so you better get out and vote for Obama to keep the racists out of power” meme right before the 2012 election> All I ask is can you imagine the furor and outcry had this horrible chain of abuses of power, criminal behavior, and injustices, let alone a single incident like this one, happened when the guy in the WH had an (R) next to his name?
We live in a country where the credentialed elite, but especially the leftists ones, think they are not just above the law, but they have no compunction sacrificing anyone of us or violating any and all laws for their agenda. But they are doing it for a greater good, or so they say, so all is well. And the media and the people that like that the abuses of power affect their political enemies so they turn a blind eye to this malfeasance, can’t be bothered. When payback comes these fucks will all scream like stuck pigs. Zimmerman’s sacrifice on the altar of the progressive agenda demands it.
Yesterday I pointed out how the social engineering leftist morons that brought us the recession of the last 5 years, by using the power of government to fist coerce lenders into making horribly risky loans, then creating a legal climate that encouraged them to bundle these risky loans into vehicles that where traded as if they were valuable securities, and finally used tax payer money to bail out the financial industry when that house of cards imploded and the fat lady sang her closing song, decided that what we needed was more cowbell! Because nothing makes as much sense as taking a horribly idiotic practice that not only completely ignores the laws of economics and human nature, but goes out of its way to pretend they don’t matter and when they assert themselves, violently, on the stupid, that tax payers foot the bill, and doubling down on it.
Anyhoo, the god damned feds are not limiting their stupid to forcing lenders to make risky home buying loans to people that are very likely going to default anyway on them, but they are expanding it to the automotive industry as well. Ideologically blinded retards feel that more stupid is the answer to the pain their policies cause, I guess. From the article:
The Fed’s program, while aimed at bolstering the U.S. housing and labor markets, has also steered billions of dollars into riskier, more speculative corners of the economy. That’s because, with low interest rates pinching yields on their traditional investments, insurance companies, hedge funds and other institutional investors hunger for riskier, higher-yielding securities – bonds backed by subprime auto loans, for instance.
Lenders like Exeter have rushed to meet that demand. Backed by Wall Street banks and big private-equity firms, they have been selling ever-greater amounts of subprime auto loans in the form of relatively high-yield securities and using the proceeds to fund even more lending to more subprime borrowers.
Expansion of the subprime auto business was chronicled in a 2011 Los Angeles Times series. Since then, growth has continued apace. Consider that in 2012, lenders sold $18.5 billion in securities backed by subprime auto loans, compared with $11.75 billion in 2011, according to ratings firm Standard & Poor’s. The pace has continued so far this year, with $5.7 billion of the securities issued, compared with $4.4 billion for the same period last year, according to Deutsche Bank AG. On Monday alone, three deals totaling $1.6 billion of subprime auto securities were announced by Wall Street banks.
To make up for the risk of taking on increasing numbers of high-risk borrowers, subprime auto lenders charge annual interest rates that can top 20 percent.
Ohm but what could go wrong here, huh?
Look, we are so screwed. The problem is the feds keeping interest rates artificially low so they do not get hammered by the interest on the money they have to borrow to overspend. The effects of these low interest rates is killing savings and basically crippling economic growth of any kind. Stimulus after stimulus, with so far over a trillion dollars being pissed away, serve to do nothing but line the pocket of some connected people and fill the campaign coffers of politicians of one particular party, fails to do anything but pile on more debt and make it even more important to keep rates low. Sooner than later that bubble will burst, and what we have now will be thought of as the good old days.
Look at that bolded section at the end of the quote. We have lenders now “fleecing” the poor idiots that should have been turned away for a loan to the tune of 20%. How much do you want t bet that they will be made out as the bad guys for charging such exorbitant interest rates, instead of the fed’s policy of “encouraging” them to make loans to people they should have politely declined to give any money to? You cannot social engineer prosperity like the idiots behind these policies want to. We have already seen how things end. But here we are again with them doubling down on more of the same. What’s the definition of insanity again
The “This” referenced above is the horribly stupid idea that social engineering leftards can use the power of government to force lenders to make loans to high risk people, and that that will have no repercussions. What could go wrong this time? Lets take a look at the article.
The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.
In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.
Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.
Officials are also encouraging lenders to use more subjective judgment in determining whether to offer a loan and are seeking to make it easier for people who owe more than their properties are worth to refinance at today’s low interest rates, among other steps.
As I pointed out when Dodd & Franks produced a 2000 page abomination, one that did absolutely nothing to prevent the fundamental underlying problem of the economic depression we now have been languishing in for over 5 years, back when: it is a question of how soon we see a repeat. The social engineers are not giving up on their wealth redistribution schemes, no matter how many times they fail and how much it costs the tax payers. After all, look how easy it was for them to blame the banks, the evil rich, and of course Darth Boosh, and how many people actually believed them.
No amount of wishful thinking by leftards, and definitely no amount of coercion and/or cajoling, will bend the laws of economics and human nature. But the social engineering collectivists refuse to give up on the government planning. Maybe they need a quick lesson of how well the Gosplans efforts worked for the USSR. These things will always, yes, I said always, fail. This attempt by team Blue will be no exception. And we will pay for it.
So now team Obama is picking up right where we left off with the last recession, and telling lending institutions to start farming out high risk loans again. The difference this time is that we have a horrible economy, so the risk is even higher. When most, if not all, of these lending institutions don’t or pretend to comply, I expect government to take the stick to them. Hard.
They will again have to make assurances that tax payer bailouts will save the lenders, and on top of that they will have to put together another scheme to make these high risk loans palatable. When results turn out the same as before, the progressive socio-engineers will be befuddled. How could it have gone wrong? We have a 2000 page monster document that this time will make sure nothing can go wrong. My money is on an even more damaging and costly economic implosion, and then, in a fraction of the time it took the last one to happen. A decade at the most.
Anyway, this last thing about the WaPo article really ticked me off.
“If you were going to tell people in low-income and moderate-income communities and communities of color there was a housing recovery, they would look at you as if you had two heads,” said John Taylor, president of the National Community Reinvestment Coalition, a nonprofit housing organization. “It is very difficult for people of low and moderate incomes to refinance or buy homes.”
Really? So the laws of economics coming back into focus and being followed now is anti-middle class and racist? Fuck progressives are stupid people. We deserve the economic meltdown these people are working so hard to straddle us with. And when it fails they will blame everyone but themselves and the idiotic shit they believe in. Wealth redistribution is the most evil idea to ever fuck over humanity in general. These people are going to give us the next dark age.