Thursday, October 9, 2008


America is about to make the worst voting mistake in our lifetimes. If polls are to be believed, the junior Senator Barack Hussein Obama, who never had to meet a payroll or held any serious private sector jobs (except being a leftwing activist for ACORN in Chicago), will be our Chief Executive.

One of the reason Obama is doing well is that people are worried about the economy. While there are reasons for concern, the current crisis has been overhyped to stampede Congress into an unwise bailout and stampede the people into voting for Obama. Our current hangover from a housing bubble induced by excessive subprime lending is leading to home prices declines, higher foreclosure rates, a weak economy, and a crisis in the financial industry as bank and investment houses have lost significant capital and some have gone under. As with the bubble bursting in internet, techs and telecoms in 2001-2003, this bubble bursting may well lead to a recession, although we were not in one up until this quarter. At times of crisis like this, it makes sense to ask: How did we get here?Obama says that deregulation caused the current crisis. He is wrong.

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1 comment:

Laree said...

Investors Daily, Ayers has not left radicalism behind.