Obama: Bring on the New Economic Disaster!
Bill Quick

What was Einstein’s definition of “insanity”? | Questions and Observations

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.

This is just, frankly, incredible in its stupidity.  We’ve been here, done this and suffered the consequences in terms of a financial meltdown and an economy that seems to be in permanent “recession”.  We’d have the T-shirt too, but they took it off our backs.

Consider the administration’s solution to the perception that we’re “leaving too many people behind:  Let’s do again what was a major contributor to the last melt down.  No prob.  They’ll just blame the banks and the “market”.  The result: more people “left behind”.

I want to change this oft-quoted definition of insanity to something that better reflects the real world:

Insanity is reelecting Barack Obama.

Of course, McQ’s argument here assumes that the overall goal of the Obama administration is not to recreate the 2007 meltdown in the housing market. But that is a faulty assumption: That meltdown is what got Obama not just elected, but re-elected. He’s hoping for a similar disaster that would put Democrats in control of the House of Representatives in 2014.

Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

Comments

Obama: Bring on the New Economic Disaster! — 1 Comment

  1. Get ready for a rerun of The Bawney And Chrissy Show, as recent history does not precisely repeat, but sure rhymes like a sonovabitch…

    Obviously, Li'l Barky and his Chi-Town co-conspirators have decided it's Soak, Scrub, Rinse & Repeat time – a sure sign that, despite all recent Gubmint efforts to the contrary, the overall national housing market is actually managing to recover a wee bit, at least enough to cause them to shift to enhanced-destructive-tactics mode.

    Can't have those housing values rising on any sort of a stable basis, y'know – gotta make sure Big Gubmint maintains control to the greatest extent possible.