The source of our present economic recession is clear to all if we ignore the stories presented by the spin merchants. The reasons offered vary by political party, economic interest, and emotional persuasion. But the root of our present economic crisis is simply this. Incredibly misguided people who had absolutely no understanding of the financial world wanted to make sure that even those who couldn’t afford to buy a house could have one. In the middle of a financial housing bubble banks were forced by our government, and intimidated by ACORN and other organizations, to make loans that the banks were almost sure couldn’t be repaid. Both political parties participated in the coercion. Many on Wall Street could see the inevitable result. They began a series of convoluted trading schemes guaranteed to make them rich when adjustable rate loans made homes unaffordable. All of this took place on top of a housing bubble that everyone recognized and most knew would eventually break. So, loans weren’t repaid, homes went into foreclosure, the housing bubble burst, many people went broke, a few got rich and Wall Street collapsed in sympathetic response and as part of the inevitable economic cascade.
The people who were supposed to be helped were badly hurt financially and the country, indeed the world, was left of the verge of economic collapse.
Note that this is the fault of both political parties and Wall Street. Note that few in Washington took blame and most pointed their finger at everyone else.
But where was MSNBC in the midst of all of this? It was ignoring ACORN until the “non-news” Fox news channel forced the action of ACORN to center stage on the American consciousness. It was single-mindedly supporting Obama’s White House and the Democratic Party as the savior of the economy through their action of pouring hundreds of billions into commercial institutions and assuming control of them. This was the same type of control that drove our financial housing market to ruin. MSNBC was spending so much time trashing the Republican Party and Fox News that it apparently had no time to act as a proper Fourth Estate. Meanwhile, Fox News was taking everyone to task. Glenn Beck, taking no prisoners, pointed at both political parties and Wall Street as participants in our economic collapse. Almost every Fox news program interviewed people with opposing views in an attempt to understand, and report on, what was really happening in Washington, on Wall Street and in ACORN. And MSNBC simply continued to be the political arm of the White House.
Now MSNBC continues to act as the chief political supporter of the White House and the Democratic Party as they pursue a course of action that brings more tax revenue (power) to Washington under the guise of providing help to those who can’t afford health insurance.
Did Washington learn nothing from the housing loan fiasco?
We have a complex economic system that, like any complex system, contains many “feedback loops” to create some semblance of stability. Mess with those feedback loops and the system begins to oscillate. That is exactly what happened with the real estate market and it is exactly what will happen with the health industry if we don’t take our time. But Washington has gained so much wealth over the centuries that it now has the power to move quickly to disrupt the system with new economic schemes. With each disruption Washington claims that it has to take more control to correct the problem, which is always blames on someone else.
Thank God for Fox News which keeps pointing this out to the utter dismay of the White House. Shame on MSNBC for ignoring the obvious problem while currying favor with Obama as he implements socialism and wealth redistribution through new methods of taxation.
Capitalism has made us the greatest country in this world. People are clamoring enter America to take part in our great enterprise. We have many wealthy people in America who started out poor or whose parents and grandparents started out poor. We are regarded as the freest country on the planet and as a land of great opportunity. Anyone who understands what is really happening here knows that the country was built on dreams, ambition and hard work. In some cases dreams, ambition and hard work fail and may end up in tragedy. That isn’t fair but it is a reflection of the real world we live in. For the most part these things work in America and the people who achieve the greatest success are able to make more jobs so others may succeed.
But the current administration is filled with socialists, Marxists and some Fascists who believe that hard earned wealth must be redistributed, that capitalism is evil, and that those in government must closely control what happens in the country. While Fox News brings this to the light of day MSNBC acts as the strident spokespeople for those working to undermine what we have built for over 200 years.
Washington interfered with the housing financial system and initiated a series of events that led to a disaster. Do we trust Washington to mess with our health system? Do we trust a news bureau so in bed with the current administration that it can’t see clearly what is happening?
