IVY
LEAGUERS MAKE BAD PRESIDENTS
PART 2 of 3
By
Jon Christian Ryter
May 30, 2012
NewsWithViews.com
Well, that's not exactly true. He promised change—and that he delivered. It just wasn't the change he promised. He promised jobs and delivered the highest, most sustained unemployment rate since the Great Depression. He promised he would end the recession and bring back a healthy, robust economy. Did he do it? No. He did the reverse. Using FDR-type social engineering, he worsened the economy (but continues to blame former President George W. Bush, who by the way, did not cause the Recession of 2007. That was caused by two things. First, the subprime mortgage collapse which was actually caused by (then) Illinois State Senator Barack Obama who convinced America's first black President, Bill Clinton that financing homes for minorities who could not afford the mortgage payments was good economy. Clinton pushed Congress to pass the Community Reinvestment Act of 1995 (Public Law 95-128, Title VIII, 91 Stat 1147, 13 USC § 2901) that put pressure on banks to finance bad risk loans under a plan that would allow bad risk home buyers to sue them and the Justice Department to prosecute them if they did not. While the subprime collapse was actually Clinton's fault, it was as much Obama's fault since he was the one who convinced the White House and Democratic leaders to enact the law. The law, which was enacted by Jimmy Carter in 1977, was amended under Clinton in 1993 and 1994. One modification was made in 1995—the rule which opened the floodgate for bad mortgages. Banks were no longer allowed to consider where the home was located, or where the buyer's income came from. If he earned enough money to afford the house payment, he was granted a loan. This opened the door for welfare recipients with enough dependents to goose up their welfare check and qualify for a mortgage—on the taxpayer's dime.
Second, with the princes of industry and barons of banking and business transferring industrial assets—factories and jobs—to the third world, the banks in the third world were obligated to make monumental investments in the infrastructures of their fledgling economies with money borrowed—you guessed it—from the banks in those industrialized nations. Once again, our jobs—and our dime. Since he thinks that was Bush-43's fault, too, can you believe that Obama, the Harvard grad, couldn't see that coming? Or didn't care? After all, it wasn't his dime. Had he not had his head up George Soros' very rich rectum, he might have seen it. An unemployed stiff who gave up trying to find a job two or three years ago could probably have explained it to him. After all, they experienced it first hand. Obama only reads about it in his daily briefings that are prepared by likeminded social progressives who are also still blaming George W. Bush—and the GOP for not delivering a national budget since Obama ended up on the wrong end of Pennsylvania Avenue on January 20, 2009.
A global bank crisis was triggered by the collapse of Indonesia's Bank Century in 2007. That bank failure came on the heels of the insolvency of Indonesia's central bank, Bank Indonesia a decade earlier. Bank Century, which was deeply indebted to most of the major banks in the industrialized world, lost 6.7 trillion rupiah ($720 million), and threatened a bank collapse domino affect that could have taken down not only the central banks of the United States and the European Union but the International Monetary Fund as well. As governments were forced to pour money into the financial sink hole, what inevitably happens to any economy when there is no money to grease the wheels of commerce, happened. The global economy ground to a halt. That's what happened in 1930, and that's what happened in 2007. Blaming George W. Bush for the Bank Crisis in 2007 is like blaming humans for global warming when astrophysicists are now making it abundantly clear that global warming is a cyclic event caused by solar cycles, not by carbon dioxide emissions from industrial plants. Obama needs to stop blaming George W/ Bush because he lacks the intellect to solve the problems that face this nation—because he lacks the intellect to define what the problems are, and what caused them.
Adding to the jobs drain is the continued effort by Obama to throw one multi-billion dollar stimulus plan after another into the economic abyss, further reducing the availability of money in the private sector which Obama is still crippling with a thousand new regulations a month. And, that of course, adds to the unemployment crisis. Again, not Bush-43's fault. It's 100% Obama's fault because the Harvard lawyer is clueless now to solve a problem he can't even define—no can all the king's men since they, like their boss, have no experience doing anything except registering illegal aliens to vote. Obama needs to take his head out of the Sierra Club's expansive rear end and listen to the American people—and by that I mean the American people who work for a living in the private sector (and, particularly, those who recently lost their jobs due to Obama's inability to do his job), not the greenie-weinee ecowackos who graduated from some ivy league university and went directly into some leftist wacko save-the-world-from-people foundation or think tank without ever passing go and collecting a paycheck that they had to earn by working in the private sector.
And sadly, after four years of campaigning 60 to 80 hours a week for a second term, Obama hasn't learned one thing about how to do the job that emanates from 1600 Pennsylvania Avenue. He thinks the time he's not campaigning on the taxpayers' dime is for fun and games—on the taxpayers' dime. Obama's been living on the taxpayers' dollar for so long, he doesn't realize that every now and then, he has to pick up the tab himself.
Obama promised to "reset" relations with the Soviet Union (i.e., still referred to as Russia, but don't shelf that phrase, Soviet Union. They'll be using it again fairly soon). In fact, Obama's open mic gaffe with then Russian President Dmitry Medvedev in Seoul on March 25, 2012, verifies Obama new relations with the Soviets won't be to the liking of the American people based on Obama saying, "This is my last election. And after my election, I have more flexibility." To which Medvedev replied: "I understand you. I [will] transmit this information to Vladimir. And, I stand with you." It appears Hillary Clinton may have been wrong about those 3 a.m. calls on the red phone in the White House. Apparently that phone doesn't scare Obama. But, from Obama's mic gaffe, it sounds like those conversations might scare the rest of us.
What Obama appears to have been talking about was pulling our missile defense system out of Poland. Incoming President Vladimir Putin wants a new nuclear umbrella shield treaty with the United States—where we have no capacity to shoot down any nuclear missiles aimed at the United States from Russia. And, with a wink and a handshake, Putin has promised never to fire a missile at us. And the former head of the Soviet KGB is so trustworthy, who wouldn't believe him? Obama halted what was the most important defense project in the history of the nuclear age—the Strategic Defense Initiative anti-missile system to protect us not only from Soviet and Chinese missiles, but those from the Muslim world as well.
According to Obama, we won't need a missile defense system against his friends and personal financial supporters in the Arab world since one of his campaign promises was that he would bring peace to the Middle East. He was going to do that, he promised, by bringing home all US troops in both Iraq and Afghanistan. Obama sat back and watched as the Muslim Brotherhood instigated revolutions or at least civil unrest in Tunisa, Egypt, Syria, Libya, Yemen, Kuwait, Bahrain, and Qatar. The warlords of the desert sands view Obama as a brother, not a threat. America should view him as a threat, not a brother. The Middle East is far more dangerous today than it was the day Obama took office. They know a wimp in the White House when they see one. The Muslim Brotherhood is reincarnating the Ottoman Empire through a union of 46 Muslim-dominated nations. Add to that a post script. Obama promised to bring about a productive, peaceful partnership between the United States and Iran.
Obama's biggest campaign promise, made only to minority audiences in safe zones (campaign rallies without any media cameras rolling) was a promise to redistribute the wealth of the rich (referring only to the White middle class) to the Democratic Party's human chattel—Black Americans. The redistribution has begun. But not one poor minority family has seen any of it. Where are the redistributed taxpayer dollars going? To the one percenters—Obama donors.
First, Obama fed the nation's largest banks with billions of tax dollars who made bad loans to the Indonesian banks financing the modernization of the third world; and then, using the stimulus money that Congress authorized to buy foreclosed subprime mortgages from the mortgage banks to free up money to keep credit alive in the United States, Obama bailed out both General Motors and Chrysler. (Without looking at how Obama redistributed the middle class wealth he promised to the black minorities for their vote in 2008 to Chrysler, let's look at General Motors since that information is more readily accessible to me.) GM received at least $79.6 billion from Obama. First, GM received a loan that was reportedly $49.5 billion. (Some political pundits place the amount anywhere from $51 to d $81 billion. Its hard to tell since the transparency Obama promised in 2008 (another failed pledge) is still as fuzzy as his birth certificate and draft registration card.) The numbers are wrong because $30.1 billion of the money given to GM was not a loan. With that money, Obama purchased 60% of General Motors. The United Auto Workers, who had no financial liability at stake in either GM or Chrysler was given 17% of GM's reissued stock and a 65% stake in Chrysler. The union's argument for ownership was that GM and Chrysler owed millions to their employee pension funds. In reality, it was Marxist social progressive thievery, plain and simple.
I expect a puzzled Florida minority mom named Peggy Joseph is still wondering why the check for the promised redistribution of wealth hasn't reached her mailbox yet. On Oct. 31, 2008, Joseph took her two daughters out of school to see history in the making. Joseph, with her two young daughters in tow, told NBC News that she was excited because, when Obama wins the election, he's "...going to pay for my gas and my mortgage." She told NBC that she never thought this day was going to happen, adding "...I won't have to put gas in my car, or pay my mortgage. You know, if I help him, he's going to help me." Sounds like Peggy Joseph took an Obama campaign promise too literally. The question is, how many minority moms believed that redistribution promise as well? Based on Peggy Joseph's words, I guess we can say, that's another broken promise by the Indonesian-Kenyan.
The list goes on, but you've heard the promises far too many times to want to hear them again. To shorten the rhetoric, he promised everyone who listened and even those who tried hard not to, that he was going to give us a better America. When you're a Muslim, sand dunes, camels, poverty and a submissive wife you can beat whenever you like is a better world. Obama's better world is a Marxist utopia that's a mixture of Kenya, Indonesia and the Soviet Union—before perestroika, maybe with a little Venezuela thrown in. With Obama playing the Hugo Chavez role of dictator. Harvard graduate or not, Obama's not a good man. He might be popular with the watermelons and other social progressives and with other Democrats who are bullied by union bosses into casting their votes for whatever political hack the princes of industry and barons of banking are backing simply because he promised them more bang for their bucks than his opponent.
We now live in a world where human capital has been redefined as the "absolute wealth," and gold and silver as a commodity you buy and sell. The impoverished third world with 80% of the world's population and 95% of its starvation and disease, is the most valuable real estate on Planet Earth. Soon the emerging nations will have almost 100% of its transnational corporate jobs because the industrial nations with a population far below replenishment levels, can neither manufacture nor buy the products and commodities the princes of industry can produce.
| Subscribe to the NewsWithViews Daily News Alerts! |
That's what the intelligensia brings to the table—communism. America doesn't need social progressives with MBAs and Ph.Ds in the Oval Office. We need leaders in the Oval Office with enough common sense and business savvy to make the hard decisions when they need to be made—for the nation, not the princes of industry and barons of banking who fill their campaign war chests. America's first President was home-schooled and to a large degree, self taught. He never received a college education either from attending classes or from tutors. His education came from associating with educated men. For part three click below.
Share
This Article
