Economic "Emergency"?

[thompson]

I didn't see any threads on here about this at all:

www.youtube.com/watch?v=H5tZc8oH--o

[rinoHUNTER]

FredheadBill posted this video in another thread. One thing that it seems everyone glosses over is this 2002 speech by Bush at HUD, and the fact that the "bailout" is being pushed for so hard by both "sides". There are many more "things". The entire government is complicit, in this supposed financial debacle, and people everywhere want to have someone to blame. Well, they use the times that Bush and McCain said there was a problem, and I want to know why the American people were not told of it. Because it is only smoke and mirrors, is my belief. CYA for those who wish to fool the people later, when the crap hits the fan. Here is the key part of Bush's speech from 2002, and note that talk radio goes back to 2003, no further. The same Bush that has pushed for criminal alien amnesty, gorebal warning action etc... When both "sides" agree, when both "sides" are in this together, as you once said, it is time to be afraid of the consequences... Or better yet, aware, and ready to fight back. Another point of discussion is the Army Times article I posted part of on Martial Law, you may want to check it out. Seems they are moving toward posting a good number of troops stateside, for "emergencies". Good Ole Bush, always thinking of the people, eh?

June 18, 2002

But I believe owning something is a part of the American Dream, as well. I believe when somebody owns their own home, they're realizing the American Dream. They can say it's my home, it's nobody else's home. (Applause.) And we saw that yesterday in Atlanta, when we went to the new homes of the new homeowners. And I saw with pride firsthand, the man say, welcome to my home. He didn't say, welcome to government's home; he didn't say, welcome to my neighbor's home; he said, welcome to my home. I own the home, and you're welcome to come in the home, and I appreciate it. (Applause.) He was a proud man. He was proud that he owns the property. And I was proud for him. And I want that pride to extend all throughout our country.

One of the things that we've got to do is to address problems straight on and deal with them in a way that helps us meet goals. And so I want to talk about a couple of goals and -- one goal and a problem.

The goal is, everybody who wants to own a home has got a shot at doing so. The problem is we have what we call a homeownership gap in America. Three-quarters of Anglos own their homes, and yet less than 50 percent of African Americans and Hispanics own homes. That ownership gap signals that something might be wrong in the land of plenty. And we need to do something about it.

We are here in Washington, D.C. to address problems. So I've set this goal for the country. We want 5.5 million more homeowners by 2010 -- million more minority homeowners by 2010. (Applause.) Five-and-a-half million families by 2010 will own a home. That is our goal. It is a realistic goal. But it's going to mean we're going to have to work hard to achieve the goal, all of us. And by all of us, I mean not only the federal government, but the private sector, as well.
And so I want to, one, encourage you to do everything you can to work in a realistic, smart way to get this done. I repeat, we're here for a reason. And part of the reason is to make this dream extend everywhere.

I'm going to do my part by setting the goal, by reminding people of the goal, by heralding the goal, and by calling people into action, both the federal level, state level, local level, and in the private sector. (Applause.)

And so what are the barriers that we can deal with here in Washington? Well, probably the single barrier to first-time homeownership is high down payments. People take a look at the down payment, they say that's too high, I'm not buying. They may have the desire to buy, but they don't have the wherewithal to handle the down payment. We can deal with that. And so I've asked Congress to fully fund an American Dream down payment fund which will help a low-income family to qualify to buy, to buy. (Applause.)

We believe when this fund is fully funded and properly administered, which it will be under the Bush administration, that over 40,000 families a year -- 40,000 families a year -- will be able to realize the dream we want them to be able to realize, and that's owning their own home. (Applause.)

The second barrier to ownership is the lack of affordable housing. There are neighborhoods in America where you just can't find a house that's affordable to purchase, and we need to deal with that problem. The best way to do so, I think, is to set up a single family affordable housing tax credit to the tune of $2.4 billion over the next five years to encourage affordable single family housing in inner-city America. (Applause.)

The third problem is the fact that the rules are too complex. People get discouraged by the fine print on the contracts. They take a look and say, well, I'm not so sure I want to sign this. There's too many words. (Laughter.) There's too many pitfalls. So one of the things that the Secretary is going to do is he's going to simplify the closing documents and all the documents that have to deal with homeownership.

It is essential that we make it easier for people to buy a home, not harder. And in order to do so, we've got to educate folks. Some of us take homeownership for granted, but there are people -- obviously, the home purchase is a significant, significant decision by our fellow Americans. We've got people who have newly arrived to our country, don't know the customs. We've got people in certain neighborhoods that just aren't really sure what it means to buy a home. And it seems like to us that it makes sense to have a outreach program, an education program that explains the whys and wherefores of buying a house, to make it easier for people to not only understand the legal implications and ramifications, but to make it easier to understand how to get a good loan.

There's some people out there that can fall prey to unscrupulous lenders, and we have an obligation to educate and to use our resource base to help people understand how to purchase a home and what -- where the good opportunities might exist for home purchasing.

Finally, we want to make sure the Section 8 homeownership program is fully implemented. This is a program that provides vouchers for first-time home buyers which they can use for down payments and/or mortgage payments. (Applause.)

So this is an ambitious start here at the federal level. And, again, I repeat, you all need to help us every way you can. But the private sector needs to help, too. They need to help, too. Of course, it's in their interest. If you're a realtor, it's in your interest that somebody be interested in buying a home. If you're a homebuilder, it's in your interest that somebody be interested in buying a home.

And so, therefore, I've called -- yesterday, I called upon the private sector to help us and help the home buyers. We need more capital in the private markets for first-time, low-income buyers. And I'm proud to report that Fannie Mae has heard the call and, as I understand, it's about $440 billion over a period of time. They've used their influence to create that much capital available for the type of home buyer we're talking about here. It's in their charter; it now needs to be implemented. Freddie Mac is interested in helping. I appreciate both of those agencies providing the underpinnings of good capital.

[creationist]

So this is the "emergency" that demands martial law. I don't believe Bush will cancel elections, for things have been pointing toward McCain as the next leader for a long time. That is too bold of a move for the American people to tolerate at this point. But I do believe this economic catastrophe will be an easy way for the new McCain-Palin administration to come in, solve the problems (it's all staged), and gain credibility among hesitant Americans. Americans are going to be suspicious from the start toward the next administration; Palin will be given credit for fixing the economy and ensuring offshore drilling, and thus lower gas prices. Thus the currently high gas prices will have two effects: distract from people's disgust toward McCain's pro-war stance, and give the next administration more approval from Americans as it solves the issue (staged, of course).

[creationist]

The reason I believe Palin will be a "dose of syrup" (as Baldwin puts it) is that she has already been given enormous publicity for standing up to the oil barons. When she gets to the White House under their tutelage, what then? They'll stage a political battle, and they'll let her win, so she can make conservatives rest easy. Over the next four years we are going to see steady attempts by the conservative pundits and government towards getting us to accept more and more centralized power, and even a North American Union, I believe.

[creationist]

Yet more pro-McCain propaganda is in that ten-minute video everybody's posting around, the one about McCain joining conservatives in attempting to prevent the current economic situation. The economic crisis does numerous things:

1. It helps McCain look better than Obama.
2. It justifies centralized government.
3. It distracts from people's disgust for the war on terror, which McCain supports.
4. It provides an opportunity for McCain and Palin to prove themselves and assuage conservatives next winter.

[bradwisconsin]

I don't know if I'd go that far Chris. Not everything about McCain is gloom and doom. At least he's willing to try and do something as opposed to Obama who on every major issue never takes a stand because he's afraid of losing political points.

If in fact it was joining with conservatives who oppose this bailout it wipes out your number 2 point. Approval of the bailout is what justifies centralized government.

While I think it's wrong to make claims that some are making - how the financial system will collapse without this bailout, even though there isn't proof it will work - I find it disheartening that so many banks didn't learn from the dot-com disaster. Speaking of which does anyone recall a bailout for dot-coms?

The solution is simple - if all these fat-cat execs and members of Congress who want this bailout would simply forgo a years salary the money to payoff these bad loans is probably there. But then again when is the simple approach taken?

[creationist]

But McCain is flip-flopping about this whole thing, too.

www.infowars.com/?p=4843 : Furthermore, John McCain, the man who as recently as last week proclaimed that “the fundamentals of the economy are sound,” is now canceling presidential debates, and some fear greasing the skids for the postponement of the presidential election itself, by insisting he and Obama “return to Washington” in order to put their weight behind the bailout.

As the George Washington Blog notes, McCain is basically implying, “Vote for the bailout or I’ll pull out of the election”.



ap.google.com/article/ALeqM5ha9qKZFKzFvH74G3c5PxRG_lHRIAD93EOLS80

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www.csmonitor.com/2008/0923/p01s06-usec.html - expanded powers to the US Treasury Dept.

[creationist]

Also, by point # 2 in my list, I meant the Bush administration. But I expect that no matter what, unless we get Chuck Baldwin as Pres., some socialist "solutions" will be exerted by the next administration as well.

[George W]

Sept 29, 2008 9:24:37 GMT -5 creationist said:

Also, by point # 2 in my list, I meant the Bush administration. But I expect that no matter what, unless we get Chuck Baldwin as Pres., some socialist "solutions" will be exerted by the next administration as well.

Baldwin be d**ned. I am your God now. See how even the media obeys my every comman?

The stock market was down over 300 points within fifteen minutes of opening this morning. Then it was down almost six hundred points by the time the Senate got around to my "No Banker Left Behind Bill" (thanks fredheadbill). But I control CNN, Faux, MSNBC ... and I made them report to you sheeple that the market crashed down to nearly -800 points after the Senate's "No" vote. I control what goes into your minds.

But you sheeple are to inferior to us God's of the world elite. We control you pinhead little minds. Go back to your trailers and shut up. Perhaps we will throw you some mutton when we see fit.

[rinoHUNTER]

Now this one sounds more like gwb. Spelling, grammar... delusion. yep. Post seems to have originated in Oregon, though... hmmm.

[strat]

Sept 29, 2008 20:32:59 GMT -5 rinoHUNTER said:

Now this one sounds more like gwb. Spelling, grammar... delusion. yep. Post seems to have originated in Oregon, though... hmmm.

And your implication is....? (Notice my spelling is correct on this site, thank you Lord for spell check.)

[rinoHUNTER]

I'm just sayin'... Some talented folks out that way... and bright! And .

[bradwisconsin]

But GW got it wrong it was the House that voted down the bailout.

Points taken Chris. Just saying that when he does attempt to do something positive it should receive credit while being taken with a grain of salt. Mr. Emptysuits does nothing but articulate the talking point of blame Republicans.

[bradwisconsin]

I was pleasantly surprised to see the "crap sandwich" voted down. But apparently thanks should go to Pelosi because her speech before the vote caused some to change their mind and withdraw support.

I make no claim to knowing anything about economics but I do know that if allowed the market will adjust itself. At the same time should the employees of these banks be subject to what is happening due to the greed of their bosses? That is the question I ask occasionally.

As for the bill I was disappointed at one point in a Patriot today. Mr. Ryan voted for this bill after working to get protections for the taxpayer put in. However after some thought I actually applaud him. Unlike many who voted against this bill he was willing to stand up for something he thought was the right thing to do at this time. I say that because we all know darn well that many of those no votes were to protect political hides in an election year.

Here's the statement he released after the vote:

“It is with deep disappointment and a heavy heart to have witnessed Congress’ failure to address the grave financial challenges we face as a nation. With an election looming, my colleagues in Congress thought first and foremost of their own jobs at the expense of the jobs of those they serve. I could not and did not accept last week’s proposal by the Bush Administration – an Administration that totally mishandled this situation. But instead of pointing fingers and standing idly by – as would have been the politically expedient thing to do – I worked to secure concrete protections for the taxpayer.

“Today’s vote was about stopping the Wall Street crisis from creating a banking crisis in our communities. The Bush Administration’s proposal was unacceptable, and the American people demanded an alternative solution be brought to the table. I joined my colleagues in putting forth an alternative economic rescue proposal and secured these taxpayer-protections in the final bipartisan agreement. I fought to make sure that once these troubled institutions start making profits, the taxpayers benefit first and foremost. I fought to make sure Wall Street executives don’t profit personally as a result of their irresponsible decisions. I wrote the provision that ensures that Wall Street shares in the cost of their own recovery.

“I supported this bill in order to stabilize our economy and to preserve American jobs. It is about Main Street – that Wall Street’s crisis doesn’t become Main Street’s crisis. It is about protecting working families’ access to credit – so students can secure college loans, farmers can buy feed, seniors can secure their retirement, and businesses can pay their employees.

“I am outraged that we find ourselves in this situation, and I have grave concerns for the state of our economy. In light of the political expediency of my colleagues and the horrendous failures of the Bush Administration, we will have to roll up our sleeves and go back to the drawing board to enact a meaningful solution to our financial crisis.”

Sometimes being a Patriot means taking a risk and positions that are unpopular.

[creationist]

Sept 29, 2008 22:57:16 GMT -5 bradwisconsin said:

But GW got it wrong it was the House that voted down the bailout.

Points taken Chris. Just saying that when he does attempt to do something positive it should receive credit while being taken with a grain of salt. Mr. Emptysuits does nothing but articulate the talking point of blame Republicans.

That's well-stated.