2009-3-11 03:51:00
[Compiler's Note: The "Local Posts" series of articles found here in "The Archives" are a collection of exchanges between JJ Dewey and others participating on a local online newspaper blog, and were subsequently re-posted by JJ Dewey on The Keys Of Knowledge discussion group.]
Richard says:
"Funny, though, that the very people that promoted cheap money, lower taxes and deregulation - the things that got us into this mess - now complain and vote against every move to fix what this created."
JJ:
To say that tax cuts had anything to do with this mess is silly and makes no sense. The prime cause was too much wrong regulation of the mortgage market. Congress insisted we loan money to people who cannot pay it back even making loans available for nothing down. Bush tried several times to regulate this and was overridden.
They still have not learned their lesson. Obama and his Democratic Congress are doing more of the same by offering 97% financing with $8000 help on the down payment allowing people to still buy with nothing down. For others they are offering 105% refinancing.
Doing this and borrowing trillions is insane.
JJ:
Jack builds his illogical case on the hearsay Bush Quote that God wanted him to run for President. The only record of Bush stating that he felt he was following Gods will in running for president was from a private conversation involving two people. There is no way to prove the quote is accurate.
Even if it is true this is not unusual. I think that every president we have had felt that God wanted him to run.
What's scary about Obama is that most of his groupies think he is anointed by God and blindly follow him. Bush's supporters didn't have this religious zeal.
Then Jack says:
"If a person is anointed by God, he can't make mistakes; God can't make mistakes."
That's not what believers think. The Bible says that David was anointed by God yet he committed murder. So was Solomon and he had 1000 wives and mistresses.
Most Bush voters, including myself, certainly do not think all his decisions were God-breathed as you insinuate. I am always glad to see any leader seek inspiration from a higher power, however.
JJ:
The Left insists the housing bubble burst was caused by lack of regulation on one hand and then still insists on giving loans to 105% value on the other. When Obama and his Congress insist on loaning to 105% value then no regulation in the world can keep us out of trouble. It is these type of reckless practices that got us in this situation to begin with.
105% value today could be 150% of a home's value tomorrow and we won't be able to print enough money to bail everyone out.
This has nothing to do with blaming the poor. It wasn't the poor who came up with these insane ideas.
"No money, no banks, no work, no nothing, but they know they got a man in there who is wise to Congress, wise to our big bankers, and wise to our so-called big men. The whole country is with him. Even if what he does is wrong, they are with him. Just so he does something. If he burned down the Capitol, we would cheer and say, Well, at least we got a fire started somehow."
-- Will Rogers on FDR's inauguration, 1933
(Interesting how history repeats itself -- JJ)
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