Bailout Mortgage Credit Mess

OK guys, if you follow my usual posts, you should appreciate this. Now, I didn't make any of these videos, they are all readily available on YouTube, I'm just putting them here as a collection, easy to grab, for people who I think will be interested. Let me say up front, some of these edited videos are obviously partisan and two of them are a little bombastic, with dramatic (silly realy) music and a few digs at Obama that go into spin, beyond just stating the facts- as well as a little pro-McCain message. I'm not a partisan, not a republican, and not for McCain. However, the straight facts in here about Obama need to be known. I don't care that Obama is black, I'd vote for Clarence Thomas, JC Watts, Armstrong Williams, Walter Williams, or my hero Thomas Sowell any day of the week. I also have no reason to believe Obama is a muslim, and I wouldn't care if he was. I have friends who are muslims- although my friends, as far as I know don't want to cut my head off for not believing in Allah. This "throw everything and see what sticks" approach of opposing Obama, I don't like it. The real facts are enough. What is in this edited video, even though it's a little slanted, it does an exceptional job of explaining the current economic mess including Obama's involvement in it. He didn't cause it, it started way before him, but he definately was involved personally, and he definately benefitted financially and politically from it. Not included in this video, ACORN. You need to go Google "Obama ACORN" and start reading some articles about this organization and his involvement in it. The videos are numbered, they are not exactly sequential, but in sort of a suggested order of relevance. When you get to the last one, that's the humdinger. And if you don't think the majority of the media are in the tank for Obama, wait till you see number 3. You'll be wondering why this isn't played non-stop on the TV news. Also... it just hit the news that the guy Barney Frank was dating at the time was working as an executive for Fannie Mae the whole time Frank was on the House Banking Committee. Both were opposing any regulation of Fannie. (I don't care that he's gay, the principle would be the same if it was his wife or girlfriend)

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grunyen13 (2008-10-04)

Also let me add that both Peter Schiff and Art Laffer are brilliant economists. In that first video, they are both saying a lot of things that are true.
I think Schiff nailed the prediction based on real indicators, and I agree that we are over-extended and away from a real production base- to some degree. I do think he's overstating the case a little bit.
Also, I think in general, Laffer is right about the positive outlook of economic growth. This becomes difficult to differentiate, but a lot of what he is saying is really quality of life issues. Even at an economic loss, we have 2008 era goods and services to buy, even if there is a recession.
It shouldn't be overlooked, the nature of growth, progress, development, and quality of life. If you think about some mythical better era in the past where the dollar was stronger, or some other positive economic indicator that you prefer- think about picking up a SEARS catalog from that era and having to buy only goods from that time, with those dollars.
I'd much rather be poor in 2008 than rich in 1960. I think we do need to let some devaluation occur. No one can see the drop in buggy-whip stock contemporaneously. Everyone thinks the current businesses are essential, like GM and Ford. 100 years from now, hopefully we will realize that markets constantly change and we need to let them. Once some devaluation has occured, we should be on the road to high growth again.
If we don't screw it up.

xMule (2008-10-05)

Thanks for the vids. So much confusion has been stirred up over this, it is hard to get at what is actually going on.
The bigoted lefties who demand socialistic government interference while decrying any resistance as racist are almost as absurd as the Dems who champion deeply unfair and counterproductive ideas of "fairness".