re: #142 blackpajamas

According to Obozo, in a recession we lose our ability to raise our families:

“Obama said today that he’s “committed to doing all that’s necessary to address this crisis,” citing the already-passed stimulus package and measures to slow the tide of home foreclosures and to unlock credit.”

“These aren’t just statistics, but hardships experienced personally by millions of Americans who no longer know how they’ll pay their bills, or make their mortgage, or raise their families,” Obama said in his weekly address. “[1]

Let’s also ignore the fact that the Obama home assistance program is designed to reinforce the fact that those who are in no position to afford their bills will be bailed out if their mortgages are with Freddie or Fannie and they’ve got mortgage payments that exceed 31% of their net income.

Let’s just ignore that these people had no business buying homes in the first place that put them in this position. Let’s ignore the distortion of the markets that this causes.

Hardships are going to be compounded by Obama’s economic policies and the failure of the Fed and Treasury to get their house in order. Geithner is a walking gaffe machine, and he instills no confidence in the markets. They don’t see a light at the end of the tunnel, which is why the markets continue their free fall.

Obama does little to instill confidence in the markets as well, and having his staffers saying that this is an opportunity to reshape health care only shows that his entire motivation is to forever adjust major parts of the US economy to fit his worldview, regardless of the real consequences to Wall Street or Main Street.