Reflections From a Murky Pond

America is suffering through trying times and such trying times called for men of character and intelligence to step up and lead the way to better days. Sadly for each and every American, we’re saddled with Obama and the boy has no character of note and an obviously subprime intelligence

Yes, it’s probably too much to ask that Obama to learn from history. One could, however, quite reasonably expect anyone approaching the average human intellect to be able to learn from current events.

Such expectations that Obama had the basic human capacity to learn and adapt seem to have misplaced. In the wake of the Subprime Mortgage Crisis that caused the Great Recession, Obama’s policies for the FHA have been to do the same thing again with the same borrowers who defaulted the last time.

After two foreclosures and two bankruptcies, Hermes Maldonado, a Honduran immigrant, recently qualified for an FHA loan for a home in the Los Angeles area.

“After everything that happened, thank God I was able to buy another house.”

Under Obama, the FHA has more and more backed new home loans to so-called rebound borrowers, those who have recently defaulted on previous mortgages. The agency is now allowing lower-income borrowers with extremely low credit scores to get loans a mere three years after foreclosure and with as little as 3% down. This has resulted 40% of newer FHA-backed loans being subprime.

The natural result of this stupidity is that a large percentage of these loans are more than 90 days delinquent and many more are actively in foreclosure.  These losses have depleted the agency’s reserve fund to 0.24% during fiscal 2011, which is barely more than one tenth of the Congressionally-mandated 2% level.

With cash reserves almost nonexistent and analysts predicting that over 30% of FHA backed mortgages will be in delinquency within the next five years it’s expected that FHA will need a taxpayer-funded bailout in the very near future – to the tune of over $50 billion.

I’ll give Obama and his handlers and sycophants credit though. They don’t do stupidity in a small way; theirs is a larger than life sort of idiocy.

With Obama being reelected and Americans being unable to retake the Senate, Obamacare will continue to be a fact of American life and death.

Don’t Worry, You’re Covered

That’s a grim prognosis, given that businesses are already failing, cutting back on staff, or moving out of the country due to the already known and implemented portions of the PPACA. Once 2014 rolls around and the rest of this cancerous abomination is enacted upon us things are going to get a lot worse.

The best that we can hope for is that the economy, especially that part of the American economy that produces jobs, will be moribund but stable. The more likely outcome is not so rosy.

Then again, Obamacare is the sort of pathology that can be solved by a Magic Bullet or two. 😉

The Affordable Care Act aka ObamaCare was touted as being the one and only means of getting more people access to health insurance. Reality has, as is most often the case when hucksters jabber, greatly differed from their lofty claims.

All across America companies are cutting staff or cutting their staff’s hours to avoid the financial ruin that ObamaCare will cause them.

This is apparently an educated decision on the part of employers since, presumably to the Obama Regime’s chagrin, colleges have started doing the same thing.

Effective Dec. 31, Community College of Allegheny County will cut course loads and hours for some 200 adjunct faculty members and 200 additional employees to avoid paying $6 million in Affordable Care Act-related fees in January 2014.

College President Alex Johnson announced the plan in an e-mail to faculty and staff members last week. “As you probably know, the Affordable Care Act has redefined full-time employees as those working 30 hours or more per week,” Johnson wrote. “As a result, the college must adjust hours of some temporary part-time employees and adjuncts to comply with the new legislation’s conception of part-time employment.”

So the net effect of the federal government’s unconstitutional and unwarranted seizure of the health insurance industry has not been to ensure that more Americans have employee-provided access to health insurance. It’s had, instead, the effect of Americans losing their jobs or having their hours cut, and still not having any better or greater access to health insurance – unless expanding Medicaid was the plan all along.

And remember, one and all, that the PPACA was the signature achievement of Obama during his first term in the White House and one much lauded by the Liberals and Progressives.

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It’s an adage that a fool and his money are soon parted. It is a fact that the 2nd Amendment means that a fool and my money, as well as his life, may be equally soon parted.

Even Duct Tape Can’t Fix Stupid

Duct tape is truly amazing. It’s so powerful and so versatile that many, not foolishly, believe that it can do just about anything. Sadly, however, they’re wrong. It has it’s limits and not even duct tape can fix everything.

The last four or five years in America rather pointedly proves this point and the next four years will probably drive that point home in such a fashion that even those who would have been best muffled by duct tape will might possibly close to understanding it.

The MSM loves to tell the stories that they want people to hear. Sadly, that story is often one that is steeped in antisemitism. One need only look at what they report and what they don’t report in Israel’s long war against Muslim aggression and terrorism.

A Story In Antisemitism

On 115 days during the time between January 1, 2012 and November 20, 2012 Palestinians fired rockets and/or mortar rounds into Israel. By and large, this wasn’t something that the MSM wanted to talk about. It’s not the sort of news that they felt was part of the all that was fit to print.

Conversely, any and all attempts, no matter how mild or how surgical, by Israel to defend itself and its people are quickly and viciously scrutinized by the media, always with an eye to place blame upon these historic scapegoats.

The MSM has been a story in antisemitism for 64 years. Perhaps it’s time to consider putting an end to the storytellers.