Here we go again. These liberal morons just don’t learn. Subprime lending is back and once again a Democrat in the White House is putting the economy at risk. We haven’t recovered from the last economic meltdown created by such toxic assets, but bad policy and failed results have never stopped these liberals in the past. For Democrats, failure is just a dress rehearsal for even greater failure.
National unemployment numbers confirmed last week, the United States has not yet recovered from 2008’s Great Recession. The American economy is still haunted by the ghosts of those toxic assets that nearly recreated the crash of 1929. The Great Recession of 2008 is now widely attributed to President Clinton. Clinton created laws through Executive Orders requiring banks to give prime rates to potential homebuyers who had problematic credit and would otherwise not be able to receive such generous lending rates. President Clinton was warned that such subprime lending was a bad idea, but he didn’t listen. He was riding on high on popularity and didn’t heed the advice of the experts. As expected, many of these loans were defaulted and the world’s economy nearly destroyed by the hubris of man.
In 2008, President Obama is elected and decides to spend hundreds of billions of taxpayer dollars to bail out an economy that was decimated by President Clinton’s economic policy. In doing so, Obama created unprecedented debt and caused our nation’s credit rating to be lowered for the first time ever. But this was the plan all along; it was the excuse to RAISE taxes on those who work hard and pay their bills on time. It is REDISTRIBUTION and is one of the central tenants of Socialism.
To double down on known failed policy is generally a short sighted, politically motivated move that ignores the well being of the nation and focuses on the well being of one political party. In this case, President Obama is doubling down on a failure of epic proportions. It is almost like he WANTS another Great Recession. He probably does.
While President Obama will never admit to being a Marxist, a look at his track record makes a strong case. After seeing the outcome of the Great Recession of 2008 he realized that these economic disasters are fertile ground for expanding his Communistic policies. His goal of wealth redistribution with the Democratic Party has the sole political party in the United States gained momentum as his Putin-istic displays of power and his control over the media swept out Capitalism and Democracy and ushered in an age of Authoritarian Liberalism.
So you shouldn’t be surprised to hear that last week, President Obama used Executive Orders to sign into law policies requiring banks to give out subprime mortgages. Sound familiar? President Obama is attempting to sink the economy once again to further his Marxist policies.
This isn’t the first time that President Obama has demanded banks use questionable lending tactics with a requirement of accepting unqualified customers for prime rates. While the United States government owned General Motors, Obama allowed for subprime lending and tax credits to lure folks who couldn’t otherwise afford a new vehicle to buy from General Motors. What will happen to General Motors once they have to face real competition and don’t have the government cheating for them? And what about companies like Ford who never accepted a dime of government money. Aren’t Obama’s policies unfair and uncompetitive? Of course they are; it is Socialism! That is the whole point!
But it gets worse. President Obama was a driving force to push banks to give subprime rates!! Before he became President, Obama sued Citibank to get require certain unqualified individuals to receive subprime mortgages. He won and further deepened the economic quagmire that he and fellow Socialists like former President Clinton, Nancy Pelosi, and Dianne Feinstein were creating for their own political benefit.
Now Obama is going back to the well; purposefully destroying the economy for his Socialist ambitions. He wants America to fail. He wants our economy to sputter. He wants to seize your freedoms. Fight back. Tell Congress to roll back these Executive Orders and put laws in place to protect our economy from imbecilic politicians like President Obama and President Clinton.