The Truth About Dodd-Frank

home_4_saleThe DoddFrank Wall Street Reform and Consumer Protection Act is essentially a collection of federal regulations aimed at financial institutions and their customers. It was supposedly implemented to prevent the recurrence of events that caused the 2008 financial crisis and was passed by the Obama administration in 2010.

The 2007-2008 recession resulted in a worldwide financial meltdown and a $700 billion taxpayer-funded bailout.  The need for some common-sense financial reforms seemed evident. However is that what Dodd-Frank really was?  What actually did cause the “Sub-Prime” mortgage bubble which led to this financial crisis?

That real facts are that President Clinton’s  HUD Secretary, Henry Cisneros, discovered that  a statistical difference existed between the granting of mortgages to black borrowers and white borrowers by banks. Ignoring differences in important contributing factors such as population numbers, income levels and the ability to repay these mortgage loans, Cisneros decreed that mortgage granting rates between black borrowers and white borrowers should be the same, meaning for every white home buyer granted a mortgage, they must also grant a black home buyer a mortgage. The fallacy of this decree is clear on its face. A truly non-discriminatory mortgage process would base mortgage approvals specifically on the borrower’s ability to repay the mortgage and not on race, creed, religion, sexual orientation or whatever.  That would be a true non-discriminatory process.  Banks resisted this idiotic decree, however Cisneros was backed up by Attorney General Reno who threatened nonconforming banks with FBI investigations. Banks were forced to approve “Sub-Prime” mortgages for borrowers who had no realistic means of repaying the mortgage. The result? Most of these mortgages became worthless paper. The result of these bad mortgages was recession world-wide. Henry Cisneros’ policy is a prime example of government over-reach and manipulation of economic policy for political gain … also know as Progressive justice.

Democrats badly needed a diversion to muddy the waters … to give their lap-dog media something to spin on their behalf! They needed to be seen to be doing something to “correct” the problem.  Enter Dodd-Frank!  But what Dodd-Frank actually did was act as a smoke screen to cover up the Democrat’s responsibility for the 2007-2008 recession.

The really sad thing is that the Obama administration did not learn from Henry Cisneros’ mistake and continued with the same kinds of policies that caused the 2007-2008 recession … expecting, of course, a different result! What Dodd-Frank really does is hamstring the banking industry with crushing regulations and help to perpetuate stagnate economic growth. I understand that regulation might be needed to help ensure fairness in lending practices, but Dodd-Frank is, by no means, that regulation.

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$2.5 Trillion Obama Fake-Out

Obama_Blind_Voters

Hmmm! If sequestration and it’s $85 billion dollar budget cut is going to bring financial Armageddon to the United States, why were the $2.5 trillion in spending cuts Obama love to claim he made …  so painless?  Doesn’t make much sense does it?  We are told by the Obama administration that our Beloved Messiah has already reduced the deficit by over $2.5 trillion. This was achieved by cutting spending by over $1.4 trillion and trimming domestic discretionary spending to its lowest level since the Eisenhower administration.  We are told that … as a result of these savings and the strengthening economy … the deficit is coming down at the fastest pace of anytime in American history other than the demobilization from World War II.

Wow!  Sounds too good to be true! And … that is because it is!

According to the Center on Budget and Policy Priorities … Obama justifies his “spending cuts” claims by comparing estimated deficits with the government’s baseline budget projections.  However, he must be using a budget that was from some previous administration because, as I recall, there has been no federal budget approved since he was elected to office.

However, that being said … under the government’s “baseline budgeting” rules, budgets are increased every year by around 6% to account for population growth and inflation.  On its face,  the idea that government spending grows with inflation is not unreasonable.  But far too often, it is misused by politicians, who claim a “spending cut” any time the actual increase is less than the automatic increase. Obama therefore can spend 2.5% more each year and claim that he’s cutting spending by 3.5%.  I just love this new math!

Also, this $2.5 trillion cut is projected to occur over ten years.  Which, in essence, means it will never happen!  Nothing binds future officials to follow Obama’s so-called spending cuts!  How many politicians that are in office now … will be in office five years from now … never mind ten?

And another thing!  If this sequestration (which Obama originally put in place) is truly so bad … why doesn’t Obama simply issue forth with another Executive Order and put it on hold.  We all know how much he loves his Imperial Decrees and he uses them judiciously … U.S. Constitution be damned!

The thing is that Obama  wants to present the image that he is spending less, cutting deficits and lowering debt!  That he is the only one who knows how to spend wisely … and that he is being unjustly accused of  excessive spending by those hateful Republicans who simply want to push granny over a cliff in her wheelchair while murdering autistic children!   But, this is all one big fantasy!  Even through their cool aid  created fog, Obama’s followers know that  Obama has run trillion-dollar-plus deficits every year he has been in office.  Even the liberal drive-by media has reported that fact  … they just still blame Bush, ATMs, suicidal lemmings, Kiosks, migrating seagulls, and the Arab Spring!

All of this “progressive-liberal fantasy” becomes painfully obvious if we simply look at Obama’s own budget projections for 2011 to 2022.  Obama’s own budget projections are presented in Summary Table S-1 of the 2013 federal budget.  You can see for yourself …

You can see the line for “receipts” at the top; which translates to income from taxes and fees.  Receipts dropped during  the recent “recession” … but somehow, Obama’s budget optimistically projects a rise from $2.3  trillion in 2011 to $5.1 trillion in 2022!  This is more than a doubling of tax  revenues … which means that either our economy has to quickly grow dramatically … or any future taxes will be  extremely painful.

Federal spending also shows a steep upward climb;  increasing every year from $3.6 trillion in 2011 to $5.8 trillion in 2022.  Do any of you cool aid drinkers out there happen to know how these number’s compare to the budgets of George Bush or even Bill Clinton?  Just asking …

In  each and one of these years, the federal government will run large annual deficits.  Obama’s projection does show a decreasing trend in deficits, falling from the $1.3 trillion to a low of $575  billion in 2018!  However, then in 2019 … it starts climbing again.  The point to remember is that:

even when you reduce a deficit … you’re still spending more than you take in; and therefore … still increasing the  national debt.

The real truth is that, according to Obama’s own projections, over the next ten years (the period for Obama’s much-touted $2.5 trillion reduction in government spending)  …  taxes, federal spending, and  the national debt will actually double.  Obama’s rapidly rising budgets are optimistically offset by fanciful revenue projections, but his projections will  only hold if we actually experience the 4.3% GDP growth (that is figured into the calculations in Table S-1) every year for the  next decade. What is the likelihood of that happening you might ask (If you are cool aid free)?  Given our current lack of economic growth and the historical U.S. average of  3.2% growth, … not too good!

One last parting thought!  Despite the fact that Obama stated during his first campaign that  it was very, very un-Patriotic and un-American of then-President George Bush to do so …  we are still, under Obama’s rule …  still borrowing 40+ cents of every dollar we spend from the Bank of China!  The  interest on this debt, as it grows over this ten year period of $2.5 trillion in fake federal spending cuts, will be astronomical!  If interest rates happen to spike and China calls in its note, what are we Americans going to do? I guess we will all have to  learn to be good little communists and speak Chinese!

Well Michelle … Are You Proud Now?

Michelle Obama

Are you proud now?

Dear Mrs. Obama:

You must be really proud!  Your husband has added $6 trillion in new debt since taking office. Gas prices are now over $4 per gallon on average.  Unemployment has been holding steady over 8% for 4 years (higher if you use the actual numbers), with over 23 million Americans unemployed. There are 47 million are on food stamps. Our U.S. Ambassador was just raped and killed by muslims that your husband has been trying to embrace for 4 years and the middle east is in flaming  chaos.

I read some of the letter written to you by Beck Smith, where she says:

I am also ashamed that the first family sees the Presidency as a lottery they won (how many vacations do you need in a year, really?)  I have not had a job in two years, and our family would love to have a vacation in Europe, just one, someday.  Yet your family has taken over seventeen vacations, at my last count, on the taxes people like me have paid.  So, in effect, the middle class of America has been paying for you and your entourage of secretaries and secret service personnel to run around the world, shopping and sightseeing, when we cannot afford to go visit relatives who live in another state.  Your husband’s policies have not created any jobs worth talking about, but they have kept businesses from creating jobs.  Even a low-paying job would allow us the luxury of going to visit family.

She make a pretty good point … doesn’t she?  Well, I know you won’t see it that way!

Are you proud of how the left-wing media selectively edits video to make Romney look bad, then screams about it for a few days, or at least until they are  caught and forced to admit that what they were screaming about was in fact – not at all what Romney said.    Has this happened 5, 6, 7, or 8 times now?  Do we have the most corrupt media in the history of our Nation or what?

It is difficult for some to understand how your husband, a  president with the most failure-ridden foreign and domestic policy in modern history, still has 47 percent of the American vote (according to the latest polls).  But the answer is actually quite simple. Your husband does have the best propaganda machine since Adolph Hitler.  Since 2007, your husband has been building a “cult of personality,” very much like the infamous fascist leaders of recent history. That doesn’t mean he’s a fascist; it doesn’t mean that he’s Hitler,  or Mussolini, or Stalin, or Castro.  However, his semiotics and iconography are far more in line with those of a fascist dictatorship than a vibrant republic.

Cases in point:

O - merica

Ronald Reagan never hijacked the American flag for his own iconography. Neither did George W. Bush. or Bill Clinton.  Only your husband has utilized the visual methodologies of Hitler’s propaganda machine to forward his political campaign.  The same day that your husband’s campaign decided to unleash their newest Obama flag, Jessica Alba, one of your husband’s elitist Hollywood acolytes, issued a letter to his campaign followers urging them to pledge allegiance to Barack Obama.

Your husband posted this picture on his website:

Pledge Allegiance to Obama

I pledge Allegiance to Barack Obama …

Sorry folks!  This is not America!  This is not Liberty and Freedom for All!  This is simply put … creepy.

Your husband’s vision for this great nation is about as un-American as you can get.  But, despite his hatred of all things American, I am sure you and he both want him to get re-elected!  You both certainly do enjoy the lifestyle … the endless world vacations, the countless rounds golf,  the parties with Beyoncé and Jay-Z, skipping security briefings to hobnob with the who’s who in liberal elitist land!  All paid for by struggling American taxpayers!  Now .. that is a pretty sweet deal!

Your husband lamented on nationwide TV that he cannot rule by authoritative fiat and simply bypass Congress and the American people.  He actually stated that despite laws enacted by Congress and the American people, he will do whatever he wants!  Your husband has presided over an almost complete overthrow of the Constitution.  It is a clear manifestation of high treason against the United States of America, but of course your liberal lap-dog media will not point this out and instead makes excuses for what amounts to a socialist coup d’etat.  And  the cool aid drinkers are so caught up in the “free Obama money” they think they are going to get … they just don’t care.

Mitt Romney was actually  right!  Approximately 47% of American voters are so drunk on the socialist cool aid, they will not vote for Romney no matter what he does or says!  They want their entitlements whether the country can afford them or not!  So what if America goes bankrupt and is financially destroyed!  So what if our children and grandchildren are left with a crushing debt … just so they get their “free Obama money.”  I mean … who are we to expect folks to have to actually work for what they get when they can just simply vote to steal it from somebody else!  So … your husband, despite his horrible track record, treasonous activities, endless lies, and anti-American ideology … might actually get re-elected!

Obama destroys U.S. Constitution

And you, Michelle, will have helped bring down the worlds greatest nation … that shining beacon on the hill that brought hardworking LEGAL immigrants to this country following their dreams … a glorious experiment in individual independence and human freedom … a dream you, Michelle, personally helped destroy.

Then … we can all be happy,  mindless, little worker bees … pledging allegiance to One Nation Under Socialism!  We can live our boring but politically correct and equally mediocre lives; contented with whatever you, your husband, and his followers deem we should have!  Chicken McNuggets for all!

Then, Michelle, you can be oh so very proud!

Stupid Is As Stupid Does!

Headline: In NEW YORK , a law enforcement official says New York Gov. Eliot Spitzer‘s role in a prostitution scandal grew out of a public corruption inquiry triggered by his movement of cash to bank accounts operated by the call-girl ring.

Haven’t we been through all this before? Oh wait! That was “President” Clinton. This is “Governor” Spitzer. I guess there is a difference here after all!

It seems that the first-term Democrat, AKA Client 9, was caught on a federal wiretap arranging to meet a prostitute from a call-girl business, according to a law enforcement official who spoke to The Associated Press on condition of anonymity because the investigation is still going on.

Spitzer allegedly paid for the call girl to take a train from New York to Washington — a move that opened the transaction up to federal prosecution because she crossed state lines.

Client 9, AKA Governor Spizer, wanted a high-priced prostitute named Kristen to come to Washington on a 5:39 p.m. train from Manhattan. The door to the hotel room would be left ajar. Train tickets, cab fare, room service, and the mini bar were all on him.

“Yup, same as in the past. No question about it,” the caller told Kristen’s boss, when asked if he would make his payment to the same business as usual, a federal affidavit said. The client paid $4,300 to Kristen, touted by the escort service as a “petite, pretty brunette,” according to court papers.

Eliot Spitzer

Folks … this is what happens when you elect stupid liberals with an elitist attitude, “relativist” moral standards … and overwhelming, all consuming political ambitions.

Silda Spitzer

I thought I saw the spirit of Hillary Clinton standing there behind Eliot Spitzer’s wife at the press conference. Another embarrassed wife whose politician husband, Eliot Spitzer, had been caught spending $4,300 to screw a hooker in a hotel room that was part of a high-class ring who typically charged $5,500 an hour and up. I guess he got his special Governor’s rate?

Silda Spitzer stood there stone-faced while her husband rambled on in the usual way about how he had “let down his family”.

Spitzer didn’t simply let down his family. He let down his party, his state, and his profession as well; because soliciting prostitution is, after all, illegal. After all, didn’t New York Governor Eliot Spitzer, made his name crusading against corporate malfeasance?

Was Spitzer Just Following In His Hero’s Footsteps?

Bill Clinton

Bill Clinton, after all, survived it. But then again … he only chased “big hair” women who were not charging $5,000 a pop. And, Clinton almost got away with it … denying it all for months … until one of his conquests bragged about her memento … the stains on a blue dress she had kept.
But still, Clinton did survive and went on to make tens of millions as a speaker and advisor … and his embarrassed wife is currently running for the Presidency of the United States.

Eliot May Not Be So Lucky!

Spitzer made lots of enemies, people like lawyers and investment bankers. He would have a much harder time trying to stay on as Governor of New York. He has certainly has lost his law-and-order credibility as the moralistic Sheriff of Wall Street, righter of wrongs and punisher of evildoers.

Of course, hiring a hooker isn’t evil-doing. But … Spitzer’s fall from grace raises some interesting questions burning questions: a) Why are some men so stupid? (b) Didn’t he overpay? Is this a clue to his fiscal spending policies … I mean … damn folks … $4,300 an hour! And (c) was it tax payer’s money?

The irony of it all is so inescapable. Elliot Spitzer made a national name for himself crusading against the evils of Wall Street. He had a knack for getting some of the biggest companies in the world including Merrill Lynch & Co and American International Group, Inc. to knuckle under to his demands without having to try his case in court.

However, on the other side of the scale, Spitzer was the state Governor who lead the charge to give illegal immigrants drivers licenses! I guess, to quote Forest Gump (1994), “Stupid is as stupid does.”

What’s Wrong With Left-Wing, Secular-Progressive Liberals?

Revisiting Reaganism

According to the out-spoken conservative pundit, Ann Coulter, left-wing, secular-progressive liberals have been on the wrong side of every foreign policy issue from the Cold War fight against communism right up through today’s War on Terror today … and you know what? I think she is right!

Ann Coulter

Under democratic presidents like Truman, Kennedy, Carter, and Clinton, the United States did pursue policies of appeasement, containment, and surrender … and has often sacrificed American interests and security to placate anti-American interests.

Left-wing, secular-progressive liberals do, in fact, seem to have an extraordinary knack for always taking the anti-American stand … or as Ann Coulter says, a stand “on the side of treason.”

President Ronald Reagan

Ronald Reagan despised the idea of containment … he felt that that containment was wrong and simply a cowards way out of standing up for American principles. Reagan believed that containment, while perhaps curtailing communism from spreading much farther, doomed hundreds of thousands of our fellow human beings in the “contained area” controlled by the Soviet Union to lives of hopelessness and despair as slaves of a a military dictatorship masquerading as a communist totalitarian regime. That was why, from day one, President Reagan had the steadfast goal of bringing down the Soviet Union by forcing them into economic ruin via the arms race.

By the way … have you ever seen a communist country that wasn’t, in reality, a military dictatorship hiding behind a communist facade?  I haven’t!

Left-Wing Secular-Progressive Liberals Are Not “Just Americans” To …

Left-wing, secular-progressive liberals do not “love” America. They hate it and everything it stands for … individual freedom, limited government, and personal responsibility. They want to turn America into another socialist nightmare patterned after that shining example of European liberalism … France!

“Hanoi Jane” Fonda

The credibility of left-wing liberal democrats in the area of national defense is severely lacking. I mean, after all, their defense strategy is planned by folks like “Hanoi Jane” Fonda, Ed Asner, Susan Sarandon, Casey Casem, Noam Chomsky, Gore Vidal, and noted cop-killer Mumia Abu-Jamal.

By the way, this group is virtually the same group that supported the Soviet Union during the Cold War!

Jimmy Carter

Former president, Jimmy Carter, said “There is no current danger to the United States from Baghdad.” The real threat to world peace and global human rights is President George Bush.

This is the same Jimmy Carter who so ineffectively handled the Iran hostage crisis, who couldn’t land a helicopter in the desert, and who was more concerned with the White House tennis court schedule than important affairs of state. Maybe he was just outraged that the members of al-Qaeda incarcerated at Guantanamo Bay don’t have proper access to regulation tennis courts… I don’t know.

Saddam Hussein

I do know Jimmy Carter felt that, unlike that evil warmongering demon from Hell George Bush, a cold-blooded, murdering, and habitually lying noble statesman like Saddam Hussein … could be reasoned with.

Here is America … engaged in a global, ideologically based war against radical Islamic terrorists bent on our death and destruction … and left-wing progressive liberals like former president Jimmy Carter are offering aid and support to the terrorists and nations who support them!

When President Bush included North Korea in his “axis of evil” with Iraq and Iran, left-wing liberals apologized to the world and announced to all that President Bush was simply a “moron.”

After all, these three countries have nothing in common. USA Today, a bulwark for the profound and intelligent reporting of pertinent news, was quick to point out that “Koreans don’t even look like Iranians” (see example below).

Korean

A Korean

Iranian Guard

An Iranian

Talk about morons! America is at war with radical terrorists bent on bombing us off the face of the planet and slitting the throats of our reporters and peace volunteers on world television, Iran is supporting them and actively pursuing a nuclear arsenal, North Korea , the pillar of liberal democracy that it is, is testing nuclear weapons … and the left-wing, secular-progressive liberals’ answer is to play word games.

  • Madeleine Albright, Bill Clinton’s secretary of state, said “We know that Korea is dangerous, but lumping those three countries together is dangerous.
  • Jimmy Carter chimed in with the brilliant statement that the term, “axis of evil,” is “overly simplistic and counterproductive.”
  • Robert Scheer wrote in the Los Angeles Times that “no such axis exists.”

The “Axis of Appeasement” … when faced with danger from three rogue nations who are wreaking havoc in the civilized world and actively seeking nuclear arms … chooses to engage in “semantic nit-picking.”

Racial Profiling … You bet!

9/11 Hijackers

Our left-wing secular-progressive liberal friends also tell us it is wrong to “racially profile” young Arab males… and look for radical Islamic terrorists at our international airports. We must also search the 99-year-old white lady in her wheelchair in order to be “fair” … or at least politically correct!

What kind of idiotic nonsense is that?

To be fair, not all followers of Islam are terrorists … but … 99% of the terrorists trying to bomb us out of existence are followers of Islam.

Let’s review …

  1. On September 11, 2001, more than three thousand Americans were murdered in a brutal terrorist attack on U.S. soil by radical radical Islamic extremists.
  2. In October 2000, our warship the USS Cole was attacked by radical Islamic extremists.
  3. In 1998, the U.S. embassies in Kenya and Tanzania were bombed by radical Islamic extremists.
  4. In 1996, a U.S. Air Force housing complex in Saudi Arabia was bombed by radical Islamic extremists.
  5. In 1995, five Americans were killed by a car bomb set off by radical Islamic extremists.
  6. In 1993, the World Trade center was bombed by radical Islamic extremists.
  7. In 1988, a passenger jet, Pan Am Flight 103, was bombed by radical Islamic extremists.
  8. In 1986, a West Berlin discotheque frequented by American servicemen was bombed by radical Islamic extremists.
  9. In 1985, an Italian cruise ship, the Achille Lauro, was seized by radical Islamic extremists and a sixty-nine-year-old American was killed.
  10. In 1983, the U.S. Marine barracks in Beirut were blown up by radical Islamic extremists.
  11. In 1982, the U.S. embassy in Beirut was bombed by radical Islamic extremists.
  12. In 1979, the U.S. embassy in Iran was stormed by radical Islamic extremists and the American embassy staff was held hostage for 444 days.

I may not be a rocket scientist, or even Ann Coulter, but in 20 years of continual attacks on America by radical Islamic extremists, even I can find the common thread here. It seems to me that … in every one of these attacks by radical Islamic extremists … there are definitely one or more radical Islamic extremists involved!

So, of course, it makes total sense to not allow American law enforcement officials to look for radical Islamic extremists …

The Left-Wing Secular-Liberal Liberal God Complex

What is the basic difference between conservatives and secular-progressive liberals?  Conservatives believe that man was created in God’s image …. and secular-progressive liberals claim that God is a fairy tale.   This claim then allows them to pretend to be Gods.

ACLU Nativity Scene

This left-wing, secular-progressive liberal God complex does seem to explain why they feel free to murder unborn children, forcibly create their version of equality through programs like affirmative action and wealth redistribution … while remaining untouched by it all in their wealthy elitist liberal enclaves.

It explains why they feel noble about spreading pornography throughout our nation’s schools in the form of mandatory sex education classes where 8-year-olds learn the proper method of placing condoms on a bananas and how to get abortions without their parents consent.

It also explains why an activist liberal judge can sentence a pedophile who molested a young girl continuously over a period of 11 years to six weeks of counseling

  • and why the ACLU can justify defending an organization like NAMBLA, that promotes men kidnapping and seducing young boys …
  • while they sue the city of San Francisco to kick the Boy Scouts out of Balboa Park.

Maybe the $950,000 in attorney’s fees and court costs the ACLU fleeced from hard-working American taxpayers during the “Boy Scout” case helped to ease their collective conscience.  You think?

Liberals are Gods

Perhaps this is also why they revere the U.N. so … instead of their own country. After all, the U.N is not founded on Judeo-Christian principles like America is. Instead, the U.N. is simply a corrupt, non-judgmental … and horribly incompetent … liberal institution.   Hmmmm …. I think I see a correlation forming in my mind!

Left-wing, secular-progressive liberals aren’t Americans … they are simply God wannabes!  They thirst for political power, for money, and for an America that will no longer be able to judge them for their obscene aristocratic lifestyles. Hey … that sounds just like Monica Lewinsky’s ex-boyfriend’s wife …

It is very hard for true Americans to understand their positions and that is also why true Americans, thankfully, are slowly learning to distrust them more and more!

Since left-wing, secular-progressive liberals defend the rights of Islamic fanatics, adulterers, pornographers, abortionists, criminals, and communists … it would simply be counterproductive to their goals to admit that God exists … since that would force them into an indefensible position when they argue their various causes.

Progressive liberals work hard … striving for the day when the pedophiles who sodomize young boys and rape young girls are more acceptable in society than the Christian … whose horrific crime of going to Church once or twice a week, having moral standards of conduct, and trying to celebrate Christmas … earns the death sentence.

Crush a Creche

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