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The Taproot of the Credit Crisis

Just because I’ve written a few positive posts about the results of our US Presidential Election doesn’t mean that I’m letting the profligate, two-party dominated greed culture of Washington D.C. off the hook.

Fannie Mae Eases Credit to aid Mortgage Lending is one of the first mentions of the “taproot” that I feel is the primary element of the credit crisis. This article from the New York Times on September 30, 1999 is the first notice about the potential “disease” that I can identify.

The genesis of the “credit crisis” began in the lame duck Democratic congress of 1999 and the impeached presidency of Slick Willie.

Fannie Mae Eases Credit To Aid Mortgage Lending is an early call for caution.

Caution that many did not take.

“If they fail. the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.”

 

 

There ya go…what a shame.

 

 

The entire system of government is at stake right now. Capitalism is at stake now.

 

Every appropriation, every federal handout, every war, skirmish and police action, every subsidy, every useless bureau, council and agency – everything had better be on the table or else the grand idea of the United States of America is going to falter and whimper away.

 

 

What can you do?

 

I know one thing that you can do – get your real estate on. If you can afford to purchase real estate, then right now is a great time for you to secure yourself with sound real estate investment practices. Prices are great, inventory is plentiful, lenders want to meet with you – buy land, they stopped making it!

 

The Libertarian ideal of Life, Liberty and the Pursuit of Happiness is one of the core ideals at stake here and a two party majority system, no matter what, is what we have to work with while we are alive and in America right now.

 

 

I think the greatest challenges to the two parties right now are:

 

 

1. The Democrats must not gloat and act like idiot cheerleaders with unlimited budgets, but they probably will. The buck stops with Barack Obama so I think that is actually a good thing.

 

 

2. The Republicans must get their business back together and regain their stance on the fundamentals of leadership. They’ve run bad campaigns and a lot less Americans are buying what they are trying to sell. A two party system is way better than unilateral control by one party. Republicans have to start knocking on doors in neighborhoods that they may not be comfortable in. They need to be more like Bobby Jindal in Louisiana, and less like Ole Strom Thurmond (R.I.P.) in South Carolina.

 

 


 

Let us know if we can assist you with getting your real estate on. It’s a great day to be an American and if you don’t believe me, then I don’t care!

Comments

  1. Rev. Bubba says:

    I have to agree with you as far as the problems that stem form having only to chose from one of the two factions of the business elite. We can always be sure that they will never strike at the root of the problem but rather the trunk. Sometimes just pulling branches off at best. If you need a good laugh, here you go.

    http://www.dollarsandsense.org/blog/2008/11/you-cant-make-this-stuff-up.html

    As for Dollars and Sense, they are a great publication. I have been reading them for years and I got several issues where they called this coming crisis early on. You can always be sure that if you are reading news and there is a full page ad on the opposite side, that publications is concerned more about their revenue than the quality of info they provide.

    Check them out.

    Cheers,
    Rev.

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