Posts Tagged ‘economy’
Bush administration predicted potential repercussions of Fannie Mae and Freddie Mac
Written by Chad Phillips
Wednesday, 10 June 2009 17:52
1 Comment

I've been told that this is the video footage the libtard media didn't want you to see. Allegedly, it was pulled from YouTube by liberwock request once already.  However, the date on the video posting shows September 2008, so that accusation is probably a neocon myth. Anyway, it's certainly worth watching and must be seen to be believed. It's probably the best three and one half minutes of television you'll see this year. But just in case you don't have that much time, here's the short story.

Apparently in 2001 the Bush administration warned and then pushed Congress for stiff regulatory measures on Fannie Mae and Freddie Mac – citing the the potential for a financial meltdown which would subsume the realestate industry.

What's particularly entertaining about this footage is watching Barney Frank pimp the mortgage giant, even as the Bush administration gave dire warnings about the potential financial ruin awaiting us. Check it out. You won't be sorry.

 
Obama stops “Apology Tour”
Written by Chad Phillips
Tuesday, 09 June 2009 07:09
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The latest figures for the economy are so dismal that President Obama has had to stop apologizing to other countries. That’s right. Obama had to put his I Apologize To All Foreign Countries, Because I Think It Makes Me Look Good Tour on hold this week.

With history-making unemployment rates and a runaway recession at home, his latest efforts at effrontery are now, once again, aimed at the American people and with good reason. Americans are complaining…loudly. If things continue to worsen, expect a perfect political storm for Obama. He knows it, which is why he put all the political savvy he could muster behind his latest press conference.

I mean, with quotes like this how can he miss? “Now we’re in position to really accelerate,” said Obama. Yeah…’cause like, there’s no where to go but up. Seriously though, I'll have to agree with Obama. Now that the economy is squarely in the crapper, we are in a merely logical position to accelerate. So how about working that golden mouth magic and bringing us the economic prosperity you promised us when you were campaigning?

Anyway, whatever you do, don’t publicly criticize the prez, especially if you’re telling the truth. Several pundits have taken him to task, and Obama wasn’t too keen on them pointing out that his economic policies just ain’t cuttin’ it. Here’s what he had to say, "… I would suggest to [those pundits] that they talk to the companies who, because of this plan, scrapped the idea of laying off employees, and in fact, decided to hire employees. Tell that to the Americans who received that unexpected call saying, 'Come back to work.'" You mean like GM, for example? How about the 12.4 million people out of work now, Mr. Obama? What about them? With unemployment the highest it's been in 25 years, your stick and move comment rings hollow, sir. You are just another politician. Unbelievable.

With logic like that, I suppose if unemployment remains steady at 9.4 percent, he’ll claim that the reason was his economic policy. And, if it all goes south, (like the smart ones know it will) he’ll be pointing his finger at Bush Jr. In either case, let’s hope that he can conjure up more than just empty promises in the next couple of years. If not, he’ll actually owe an apology to the American people. But, don’t hold your breath, America. Unless you move to a foreign country, you’re not likely to get one.

 
Obama: fresh out of ideas on how to curb federal spending
Written by Chad Phillips
Tuesday, 28 April 2009 15:07
2 Comments

I was stunned to learn this past Saturday that President Obama is so desperate for ideas on how to curb federal spending that he's asking his employees (federal workers) for their suggestions.

The announcement comes in the wake of the biggest federal spending spree ever in this nation's history. Obama and his "spend-all-you-want; the-American-people-will-make more" congress have a budget projected to spend more than all the presidents since Washington combined.

His announcement to solicit help from his employees in this endeavor to curb federal spending underscores his inability to understand the human species' propensity for self preservation. I mean, let's face it; one of the biggest ways to cut spending is to downsize government. But how many federal employees do you know who are for downsizing?

This is just more political posturing and anyone with an ounce of intellectual honesty will have to admit it. Those at the top will gladly approve ideas which don't impact their employment status or their earnings–like these, for example…turning off all the lights, green bathroom plumbing, hybrid cars to conserve the liberal smug so prevalent inside the Beltway, etc.  But what if an employee says, "You know…congressmen make far too much money and they will have to undergo a massive paycut. Also, their future raises will, like other employees, be tied directly to merit and be determined by their employers…the American people"?