The American Spectator

Hey Bob!| 9.5.09 @ 6:38PM

Remember how you were saying it was going to work, leftard? Well it didn't work.

Close to the Edge| 9.5.09 @ 7:06PM

I have to say that our company of 28 years is on the brink, as well as numerous companies that are involved in varying capacities in our industry.
Unfortuneately, I see this second housing catastrophe coming and coming hard.

Consumer confidence is in the crapper and has been since the last 2-3 months of the Bush administration when Paulson would come out with the doom and gloom, Bush was hollering on how we had to act "now" and people got scared.
Then Obama got the job (I did not vote for him) and we were kind of hoping for the media to finally start spewing some faux good economic news due to whatever Obama would have done within logical reason to get some of that confidence back into the consumers minds.

Well, turns out that Obama is everything we feared he would be. A die hard one term president who seems to be doing his best to just tear it all down to instill some foreign Socialist foundation for the greatest country to ever grace the planet, no matter what the cost.
Thank God for the town hall people, they seem to be the only thing standing in the way of dismantling our country completely but even with them the damage may be too great to recover from....In our lifetimes.

Bob| 9.5.09 @ 7:38PM

None other than the Wall Street Journal, a bastion of conservative capitalists, has said, without equivocation, that the Obama stimulus has helped the economy. As usual, RSM and the others here just don't know how to look at economic data -- and don't want to tell the truth.

Again, I would not have put all of the pork in the stimulus, but some if it, like the tax cuts and infrastructure spending was positive. This will continue to help the process -- but it was still a vast waste of money.

As for the unemployment number, any of us who understand economics have said, and will continue to say that it is a lagging indicator and won't start reversing until next year. I've said for the past 6 months here that unemployment will rise over 10%, probably to 11 or 12%, before it begins to drop. Anyone who has analyzed the numbers in the past will see that.

As for the second wave of mortgage failures, that is due to alt-A mortgages and again was predicted several months ago by those of us who have worked in the industry. The only surprise for me is that the commercial real estate market has not totally failed as yet. In fact, investments in commercial real estate have been on the rise over the past month or so by hedge funds.

NoBob| 9.5.09 @ 9:39PM

Shut up you stupid loser.

Repeat After Me, Bob:| 9.6.09 @ 9:05AM

It didn't work!

Write in on Your hand, Bob| 9.6.09 @ 10:17AM

It did not work....on purpose.

Oldefarte| 9.6.09 @ 1:00PM

Again, the housing bubble [and the economic/financial collapse that's present today] is all due to the CREDIT REFORMATION ACT of 30+ years ago that enabled government liberal congressmen to harass and pressure bankers into making loans/mortgages to unqualified borrowers, all in the name of welfare governmental politics. For decades, our government has been forcing hard-working, taxpaying Americans to fund [through taxes] welfare programs that support those too stupid and too lazy to suport themselves. If/when Americans wake up, they can elect conservative politicians dedicated to reversing/dismantling this welfare-state!!!!

Bob| 9.6.09 @ 3:05PM

Again, Oldfarte, you lack of economic knowledge is evident. It was not the Community Redevelopment Act that caused the problem, it was the lack of regulation behind securitization and the resultant derivative vehicles in non-bank institutions. There are now several books on the issue and not one names the CRA as a major cause of the problem. These books have been written by both conservative and liberal authors, and they all agree.

Perhaps it's time to take an economics course....

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Johnno| 9.7.09 @ 3:28AM

Everybody knows that liberals caused the economic meltdown via the CRA. Everybody.

Liberals gamed the system and they will pay for their treachery.

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