The Audacity of Hype

Lenders made loans without concern for whether borrowers could repay them. Inadequately  informed  of  the  risks  and  overwhelmed by fine print, many borrowers took on debt  they  could not  really  afford.

Funny how when conservative talk hosts were saying this last year as the mortgage mess was beginning to rear its ugly head, they were denounced as fearmongering. Although unlike the above statement, taken from Obama's budget document today, the conservatives were pointing the blame for this at people like Barney Frank and Chris Dodd, whose mismanagement of Fannie Mae and Freddie Mac, as well as  Congress' thinly veiled threats to lenders about making these subprime loans.

But now that His Majesty has spoken it from on high, it is gospel. This is where we've come. Now the very people who have created this mess are standing on high, wagging fingers of blame at the free market who were coerced into it.

Things aren't boding well for America's near future. Our enemies rejoice at a President Obama. He is seen as weak and we'll see just how weak once the terrorists make a move sometime this year. I'm convinced it will happen. Happened in 1993 for Clinton (the first WTC attack), a few times after, and 2001 we had 9/11. Say what you will about Bush's RINO economics and other policies - after 9/11 we had no problems with terrorism in the US.

Under Obama, just today, I've seen articles about him reinstating the assault weapons ban that ended under Bush, and more talk from him about passing the so-called Employee Free Choice Act, which despite its "sunshine and butterflies" sounding name, is nothing less than the removal of the secret ballot regarding unions.

I'm not a Ph.D but I think if you've read my stuff, you're aware of that. I don't possess any expertise in economics or political science. And in some ways I think it makes me more qualified to speak - I don't have my head clouded with theories or other nonsense. I justt see things as they come and tr to correlate them as possible.

When you take some of the proposals the Democrats have, you have the makings of a fascist state:

- The "Fairness Doctrine" will muzzle talk radio - conservative shows will be cancelled rather than a station being forced to air opposing views. Not because the station management is conservative, but because liberal radio does not get ratings, and therefore is a money drain;
- A ban on assault weapons, and given Eric Holder's anti-gun stance, it's but a stepping stone to more draconian restrictions on our liberty;
- Removal of the secret ballot for unions. In essence, a union could, and probably will, use this to bully people into voting for a union if there's a close vote. It will also force business owners (who, by the way are providing jobs) to either unionize and raise prices a LOT) or to close their doors.

So, opposing voices will be silenced, your right to bear arms will be infringed, and the secret ballot will be removed. And if you think it'll be limited to union votes, think again. You now have a precedent to avoid it for other things. Perhaps in 2012 it'll be Obama/Biden in all boxes but one, and if you vote for someone else, you'll be taken away until you learn to think better.

Funny how the Left will scream that consevatives are the fascists, but when they get into power they move really quickly to assert their dominance and to silence dissent. One need look no further than Woodrow Wilson - the "progressive" President jailed 150,000 people for dissent. But you don't hear about that. You hear about McCarthyism all the time, but he went after the liberal darlings in Hollywood.

Hope you're happy with the "change" and "hope" you voted for America. I "hope" people "change" their minds in the next elections about voting in someone with no track record and instead go for someone of proven mettle and solid virtue. I also "hope" such a person still exists.

F.D. for Two Joe Schmoes
Crossposted on Grizzly Groundswell

The State of the Nanny State 2009

Despite my insistence this evening to watch Bizarre Foods with Andrew Zimmern instead of the State of the (Insert some word other than Union here), I broke down and watched it. And tweeted my tail off.

In short, it sounds like the Obama/Biden 2012 campaign is already underway. I found the address to be very downbeat and negative. Yes, we all know times are bad. It's not exactly a shock to anyone anymore.

The "solutions" being provided are Big Government, Keynesian, nanny state ones, designed more to centralize power with the Federal government instead of letting the free market handle the mess. Either way, things will need to hit bottom. The only difference is that when the free market is in control, we will hit boom faster and rebound faster. No one knows where the bottom is with government interference. It could wind up an economic catastrophe, complete with hyperinflation and the US winding up like the Weimar Republic.

If Obama was not the President, his references to "irresponsible homeowners" would have been hilarious considering he blamed everyone in sight but the Democrats who drove the housing scandal to its current horrid state. Those people were given loans because the banks were more or less intimidated into giving them out.

I also caght Bobby Jindal's reply. I agree that the text of the speech was great, it was very precise and it's the message that needs to be sent out. But, I have to go along with the critics that his delivery was bad. As a former speech coach and competitive speaker, I know a delivery like that would have cost me dearly - it was not very animated. 

While the substance was there, this society clearly goes for the sizzle, as the last election showed us. Jindal makes a mean steak, but I didn't hear it sizzling.

More on this in the morning. I have to be "up" in an hour.

F.D. for Two Joe Schmoes
Crossposted on Grizzly Groundswell

Socialism, American Style

It's never been a secret that whenever Americans attempt something, they always put their own unique touch on it. There's the gag about how during the space race, we spent millions developing a pen that would write in zero-gravity, while the Soviets merely used pencils. Tales like that (true or otherwise) highlight that.

Now, on our march to socialism, we're apparently going to put our own nasty spin on all the assets Big Government is snapping up. Gerald O'Driscoll writes in the WSJ today about how Congress is apt to "politicize" bank assets.

One line from the article really jumped out at me as I was reading it:

There are some commentators, pursuing an ideological agenda, who want to use the current crisis to nationalize the entire financial system. That is nationalization in the style of a Latin American despot.

Hm, now I've heard a couple people talking about our march toward socialism, Glenn Beck in particular - and every time I hear about this, it is being compared to our "friends" in Venezuela. It's no real secret here that Hugo Chavez runs a socialist nation and has been making attempts to grab more and more power, just like any despot would. Is this the road we need to lead ourselves down? And let's not be so naive as to think that "it can't happen here" - think that something can't possibly happen here led to Pearl Harbor, it led to 9/11 - need I go on further?

O'Driscoll continues:

...[we] know how the government runs financial institutions -- consider Fannie Mae and Freddie Mac. Or IndyMac, whose management by the FDIC has been criticized for inflating the rescue costs through its liberal loan-modification program. A money-center bank in government hands would become a conduit for politicized lending and grants disguised as loans. That's what's happened at Fannie and Freddie. The government would never let go of its political ATM. You might as well consolidate such an institution with the Fed from the outset.

We've already seen how well our Congress reacts to crises lately. One side loves to hold the other entirely accountable, when in fact it's corruption and greed on both sides that made this possible. Not just this standing Congress should be held accountable, but several previous sessions of Congress as well. America didn't suddenly wake up one day to find this mess - we have been sliding this way for years, decades. The problem is that We the People stopped getting involved and let people make a living (and a handsome living at that) from public service, which at our nation's founding was explicitly made to be NOT a monetary gain. Our Founders knew if politicians turned a position of honor into a profit center that our principles would be eroded. And here we stand now, our people not knowing what America was built on more than knowing. A nation of freedom teetering on the brink of socialism and one-party rule.

How have we let ourselves get here? It's a good question, but one we should refrain from answering until we reclaim our government and scale it back to the limited scope it is supposed to have.

F.D. for Two Joe Schmoes
Crossposted on Grizzly Groundswell

Even the Soviets Learned...

Some days, you read a story that just blows your mind. I came across such a story this morning concerning none other than Russian PM Vladimir Putin.

You know, the former KGB officer, fanatic angler, and strong leader feared to be bringing the old Soviet rule back?

He's issuing a warning to us. No, we won't be seeing ICBMs raining down on us, at least not from him. He is warning us not to go down the socialist path.

Now that, friends, is irony at its finest.

Here's what he's warning us about:

Russian Prime Minister Vladamir Putin has said the US should take a lesson from the pages of Russian history and not exercise “excessive intervention in economic activity and blind faith in the state’s omnipotence”.

“In the 20th century, the Soviet Union made the state’s role absolute. In the long run, this made the Soviet economy totally uncompetitive. This lesson cost us dearly. I am sure nobody wants to see it repeated.”

Now, some could reasonably argue that Putin isn't a source we should be listening to. However, he's lived under a totalitarian socialist rule, and he's also lived (and might I add, succeeded) under a free-market capitalist Russia. And even he, a former officer in the socialist state, is saying that the state is NOT the answer to our problems.

Putin contunues with this:

Putin also echoed the words of conservative maverick Ron Paul when he said, “we must assess the real situation and write off all hopeless debts and ‘bad’ assets. True, this will be an extremely painful and unpleasant process. Far from everyone can accept such measures, fearing for their capitalization, bonuses, or reputation. However, we would ‘conserve’ and prolong the crisis, unless we clean up our balance sheets.”

This is, just as the article states, in line with conservative principles. In America, we have the right to pursue happiness. We are not guaranteed success - we are supposed to be free to succeed to our potential, and we are also free to fail miserably. This is a land of opportunity, not a land where the nanny state comes sweeping in to save everyone who fails.

Our own government officials would do well to listen. They would do well to study our history and our origins and remember what exactly America stands for, not what they want it to be.

F.D. for Two Joe Schmoes

Crossposted on Grizzly Groundswell

Generation Why Bother

After a mere month in office, President Obama has done more to this country than anyone expected. Those on the far Left are championing him as one of the greatest presidents ever, while those of us in the center and right are seeing this as an unprecedented assault on individual liberty and freedom.

We've had a massive pork-laden "stimulus" bill rushed through Congress so quickly, no one actually read the bill before it was passed, even though We the People were PROMISED by the Democratic majority that we would get at least 48 hours to look over the bill. Just another finger in your eye from the people elected into office. You can use your imagination on which finger they're using, although I'll pass on thinking where that finger has been.

We've seen appearances where the masses have appeared breathless and agape in sheer awe of the presence of The Chosen One:



And this week, we're treated to some half-cocked scheme to bail out mortgages of people who did not think before purchasing a home they could not afford. Obama says this is done to make things "fair". Meanwhile, millions of others who have been playing by the rules and are having trouble are not going to be aided at all. How far is this?

I don't own a home, as much as I would love to. My finances aren't that great, and if I had purchased a home at the obscenely inflated prices of not too long ago, I'd be living in a box right now. But we make too much money to be considered in need.

This is another case of what was said all through the campaign - redistribution of money. Obama is taking it on himself to drive America away from the principles of individual responsibility and the freedom to fail as well as succeed, and trying to socialize this great land of ours to where the government will provide everyone with everything they need.

Sure, in principle, it sounds fine - no worries, you'll have a job, three squares - and a lot of otherwise rational people are drinking this Kool-Aid. Do they not see what this will cause? America will cease being a land of possibilities. Where will the incentive be to innovate, to lead, to dare to dream? Why bother trying? After all, everything will be provided. If there is no risk in life, where is the drive to improve yourself? If these schemes are brought to their fruition, we'll have a generation of people who see no need to aspire to more, they'll live on the dole and be happy with it.

Obama is playing Robin Hood, but his problem is that the people of Sherwood Forest are ALL in need right now. The job markets are drying up, people are losing jobs (I should know, I was part of a companywide layoff recently) and nothing offering similar wages is appearing. Some people will sit on their hands and wait for things to improve. I will swallow my pride and look for work wherever it may be found. I have a family and they need someone to provide. I would like to strive for more, and I do so when I can. I write, I think, I speak to others, trying to help bring America back to its roots.

Luckily, some of the people in Congress, the true conservatives like Rep. Culberson of Texas, the ones who know and love the Constitution, have awakened. I hope it is not too late for us all, but when people see what exactly Obama's "change" is, perhaps they too will wake up and back the people who are out for their best interests. Perhaps they will join our cries for government to scale back, butt out, and to let the People run the country, as it was during our earliest days.

F.D. for Two Joe Schmoes
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Crossposted on Grizzly Groundswell

Spending our way into oblivion

Things are bad.

Very bad.

If we don't do something soon, everything will collapse! People will be out of work, our dollar will be worthless, the seas will boil, locusts, plagues...the whole nine yards!

WE HAVE TO DO "SOMETHING"!!!!!

Maybe we do need to do something. But is that something the first poison pill presented to us? We have a spending spree presented under the guise of a "stimulus" that is hundreds of pages long. Many of our elected officilas only have 2-3 days to read it all before voting on it. Now, I think I'm a fairly speedy reader, but in 3 days I might get 200 pages done. But legislators get this beast of a bill, laden with little bits of pork and ominously-worded nonsense to help make government even bigger, and the cry is just vote it in, don't worry about the details...after all, we need to do "something", don't we?

Think back to the 1920s and early 30s. Germany was in a state we may well find ourselves in soon. Their economy was destroyed. The Mark was pretty much useless, not even worth the paper it was printed on. "Something" had to be done. A slick-talking guy ran for office promising change and hope for the German people. Lots of well-meaning things but little in the way of what precisely he had in mind. Oh yeah, his name? Hitler.

Sure, you can argue Mein Kampf laid out all his plans. Maybe so, but at that time not too many Germans read it. I tried, it's a really challenging book, and pretty dry. Obama doesn't lay things out in the same fashion, but read a little and you see his motives are not really for the benefit of the common good.

You and I are staring in the face of a coming fascist state, a dictatorship brought in under the guise of being "for our own good".

Congress is going to pass a bill to spend trillions of dollars that don't currently exist on things that may not - heck, probably won't - do any good. When was the last time our govenrnment got involved in something that actually improved things? What will back these trillions of dollars? The Chinese? They're not really out for our best interests. They're going to use us to get on top, and if it means stepping on us to do it, then so be it.

I'm glad people have found what they have in the short time we've had to read the bill.

For example:

Pages 164-165 of the stimulus contain the following prohibitions on the use of $3.5 billion available for renovation of public or private college and university facilities.

(2) PROHIBITED USES OF FUNDS. No funds awarded under this section may be used
for - (C) modernization, renovation, or repair of facilities (i) used for
sectarian instruction, religious worship, or a school or department of divinity;
or (ii) in which a substantial portion of the functions of the facilities are
subsumed in a religious mission; or construction of new facilities.

Forgive me for sounding alarmist, but that's awful discriminatory against free expression of religion. What difference does it make if the school buildings are used for teaching religious courses? It's a supposedly free country, students are free to study religion...or are they?

Then you find the dozens of other articles exposing little blurbs about a "Health Czar" (since when does America need a Czar?), money for little pet projects to sweeten corrupt politicians into voting for the Pork Monster...little hidden things supporters of Big Brother hope you and I never see.

It begs the question - do we descend on Washington now with our torches and pitchforks - or will it come to drums and fifes down the road?