Within the first two minutes of Barack Obama speaking last night, I was already shocked at his lack of understanding regarding our economy. He called for more oversight! The first thing they tell you in economics is that when the government takes an active roll in the economy, everything falls apart. Markets fix themselves and economic equilibrium is a natural process that does not require the help of the government. Obama's liberal policies are a clear violation of economic principles.
Maybe someone should mention to Barack that it was Democrats, who, in getting involved in the economy by telling banks to loan money to those who could NEVER repay it, put us in this terrible mess. If Obama expects to be the future president, he should learn from the economic errors of his own party before her recommends more oversight. If it were not for the meddling of the Democrats who hoped to brag that more people own homes under their administration, we would not be in this economic conundrum.
"The X-Files" reminds its viewers to "Trust No One," and it seems as though we must apply this axiom to our own politicians with increasing frequency these days. I think I would have rather had Hillary Clinton than Barack. At least we know what she stands for. As for me, I say NObama.
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I would go with the axiom in general. We never know enough when it comes to politics, and we should be as open as much as we can. I bet Mccain has a few things he lacks economic-wise. No one is perfect and some people actually do try.
First, every Democrat is not a liberal. Second, John McCain advocated oversight for a party that believes that no oversight would have allowed Wall Street to fix this mess. While your opinion directly pushes the views of many that do not like regulation or government involvement, economic businesses love the government to step in and give them those lovely loop holes and tax breaks that got us into this mess. Deregulation got us into this mess. The markets cannot fix themselves this time and many people who are losing their jobs are also losing their homes. For those middle class and upper class people that could afford to purchase more than one mortgage, they did. Many of these same people took those additional homes as a loss when the could not get people to buy them in the marketplace. There are millions losing their mortgages. The mortgages on those million plus homes would add up to 20 homes in some communities.
Did you ever consider that maybe the over 750,000 people that have lost their jobs this year also could not pay their mortgages? Maybe they are not losing their homes or jobs in your state, but in my state and surrounding states, people who lose their jobs cannot afford to pay their mortgages. Elderly people like Addie Polk in Ohio who tried to kill herself because her home was under foreclosure is one of millions of Americans fighting homeless in this country. Fortunately, she lived and the bank forgave her loan. Seniors whose homes are paid for have expenses that exceed their pensions, stock options and monthly income. They need help and cannot afford to live in these economic times without help. Maybe you are among the top 2% having no financial problems. For the 98% of us with some financial obligations and investments, we continue to know that considering more than a limited economic viewpoint is necessary and keen.
If you have stock options and a pension, maybe you would rethink this economic philosophy when economists on Fox News, CNN, MNSBC, and in every state are saying that the markets needed this. Like it or not.
Nobody thought it an issue when the government stepped in and bailed out the transportation industry. We bailed out the airline industry many times over and people still are unemployed and still have lost their homes. The costs are still high and they have not recovered. The auto industry has been struggling for many years and they have not recovered. The problem is with the CEOs who make $60B dollars a year and trust me they will get paid whether the government steps in or not; Fannie and Freddie are not the only companies in America that needed bailing out and assistance, nor whose CEOs receive extraordinary payments. Be fair and take a closer look at some other companies. I suppose the state of California needing $7 billion dollars is the Democrats fault too. Its neither the Democrats nor the Republicans. Put politics aside for a moment to see the bigger picture. Do a little more research and see how many CEOs make millions outside of Fannie and Freddie and maybe you will see that the need for oversight is realized by both the Democrats and Republicans. There is shared responsibility.