Readers impatient for the frightening news --
FHA delinquencies above 14% and the prospects of yet another
mortgage
catastrophe -- should feel free to click through and see for
themselves. However, it may be worth a minute of your time to
recall that it didn't take an economic expert to see this
disaster coming:
-
It
Won't Work December 8, 2008
-
Dept.
of It Won't Work December 24, 2008
-
CBO:
'It Won't Work' February 5, 2009
-
It
Still Won't Work February 9, 2009
-
Got
Malaise Yet? February 9, 2009
-
The
Fiscal Trap of Hope February 15, 2009
-
Karl
Rove: 'It Won't Work' March 6, 2009
-
The Fundamentals Still Suck May 4, 2009
-
Bank of America $35 Billion Short? May 6, 2009
-
The Obamanomics Electric Kool-Aid Acid Test May 29,
2009
-
Guess What? It's Not Working July 7, 2009
-
Dr. Bernanke's Prescription July 13, 2009
-
Goldman Sachs and the Next Bubble July 13, 2009
-
U.S. Will Pay 'Long Time' For Bailout and Deficits, Says
Author September 2, 2009
All of which is to say that the failure of
the deficit-funded bailout-and-stimulus agenda of
Obamanomics was clearly predictable from the outset. There was
never a shortage of critics who warned that this neo-Keynesian
approach to economic policy would fail, producing stagflation
instead of recovery. Now we see that the unemployment
rate is at 9.7% and even "prime"
borrowers are feeling the mortgage crunch and -- as
David Hogberg of Investors Business Daily was the first
to report this week -- the Federal Housing Administration's
effort to patch up the housing bubble has left taxpayers on
the hook for what promises to be . . .
The Mother of All Bailouts.
Don't say you weren't warned.
