I'm not a Obama fan, not just conservative, an actual Republican as in system of government, not the party! Socialism is the same as communism--do as I say not as I do, everyone in the same boat that we the liberal elites rule over everyone.
The big mistake and was more the Clinton administration; was making real estate loans attached once again onto the secondary financial markets (stock market). It was detached, as it was one of the primary reasons the U.S entered the great depression! In short it was the Clinton era and administration that created; why rent when you can own your own home? Oh, don't worry we the federal government can and will always keep interest rates low. The last being the greatest myth. Slowly over Clinton's 8 years, somewhat stable banking was re-attached to the secondary finance markets, high risks, not stable. As proven by the 1920's lets have a roaring party because we are all rich on borrowed cash--creates a situation that fractional banking can work in reverse when attached to the stock market. Lets detached it and avoid another great depression roaring 1920's scenario. It worked for 60 years, until it takes a global village to raise a kid to live in a just liberal utopian dream world Clinton and his first not a lady, but a b$tch of a wife Hillary came along! What they created with their administration was the greatest smoke and mirror show, that has led to the deepest recession since the great depression. Either party or anyone who became President with this perfect storm mechanism ignoring that fractional banking can operate in reverse when tied to the stock market, would be totally screwed----except with leftist Obama we are even more screwed! Hence why with the current administration's global warming--lets take over G.M cause we can force clean air emissions, blah,blah,blah crowd. My industry is enemy number one. Despite it being very profitable in tough economic times! Fled to Canada for more gold that we can actually mine!
In summary, the current crisis makes 1929 look like a walk in the park. The current financial crisis is spreading and it is worldwide. Did you know that Swiss banks loaned money on residential real estate in Poland and Hungary, and who knows where else, IN SWISS FRANCS! When the rumbling recession hits Poland and Hungary, how will these loans be repaid if the Swiss Franc has appreciated 20% or more to their currencies. However, a 2% mortgage was great while it lasted.
Real estate is collapsing in the USA, Ireland, England and Spain. And don’t be fooled by the talking heads on CNBC, the conflagration is spreading rapidly. First sub-prime, alt-A, regular mortgages, commercial paper–then coming soon, crises in commercial real estate, the stock market, Goverment sponsored entities like Ginnie Mae, then credit card debt, and pretty soon you’re talking real money.
There is a model for the current situation and it is the deflationary collapse that occured in Japan in 1990 and CONTINUES TO THE PRESENT DAY. You will recall that the Japanese became overexuburent with real estate leading up to the 1990 collapse. Ben Bernanke is a major problem for the markets and the American Empire, since he has views that could result in a major depreciation of the US dollar, similar to what happened to Britain in the last century. Those who take a hard look at what Bernanke stands for have reason to worry. With Obama as President that worry increased ten million times................................. Obama is a million times worse than Carter during the 1970's. We need another late great Ronald Reagan, hopefully in 4 years, we'll have that candidate running--who will ask that simple question. Are you better off from 4 years ago?
