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.

Tags: America | Bail Outs | Banking | Debt | Economics | Economy | Fail | FHA | Idiocracy | Intelligence | Keynesian Economics | Mortgages | Obama | Politics | Recession | Stupidity | Taxes

This entry was posted on Thursday, November 22nd, 2012 at 8:51 am and is filed under Politics. You can skip to the end and leave a response. Pinging is currently not allowed.

With the elections over, it’s time to move on to the next season of political theater in America.

Fiscal Cliff Starring Oblahblah

The only problem is that first big ticket of the season is The Fiscal Cliff and nobody is sure whether it’s a Black Comedy or a Disaster Flick. The only thing anyone seems sure of is, since it’s starring Obama, it’ll be long on dialog and very short on action.

Tags: America | Budget | Debt | Economics | Economy | Fiscal Cliff | Humor | Jobs | Movies | Obama | Politics | Taxes | Unemployment

This entry was posted on Friday, November 16th, 2012 at 9:17 pm and is filed under Humor, Politics. You can skip to the end and leave a response. Pinging is currently not allowed.

Despite being handed a book deal on the topic, the First Lady is, in this singular instance, honest enough to acknowledge that she doesn’t possess a green thumb and her rather high profile garden in the White House’s South Lawn hasn’t been a spectacular success.

Sadly for America, her husband is no better and definitely doesn’t have a green thumb either.

Obama’s Growing Problem

That’s not to say he has a black thumb, meaning that he kills all he tries to grow. He’s been quite effective at growing one thing, the National Debt. I’d guess you’d say that the boy’s got a “red thumb.” All that he can grow is debt and outlay. 😉

Tags: Debt | Deficit | Economy | FLOTUS | Gardening | Humor | Obama | Politics | White House

This entry was posted on Monday, October 15th, 2012 at 10:44 pm and is filed under 2012 Election, Humor, Politics. You can skip to the end and leave a response. Pinging is currently not allowed.

It’s a bit of a gloomy forecast for Obama and his handlers and overseers. The climate just isn’t cooperating with the boy and he had to move his acceptance speech from Bank of America Stadium, which seats 73,298 to to the Time Warner Cable Arena, which seats only 22,000.

Of course, there’s currently a lot of speculation that the “climate” in question was the political climate as opposed to Charlotte, NC’s weather.

Raining On The Charade

My guess is that it’s a combination of both factors. Obama’s incessant excuses are a piss-poor umbrella against the storm of disillusionment and bitterness that the boy’s facing from the Left, and neither his shucking and jiving nor his tap-dancing will save him from a soaking this time. This means that it’s far more likely that the threat of inclement weather would keep too many attendees away for it to be a “proper” political event.

There’s a certain sense to that. Obama has consistently and utterly failed to both lead and to inspire since being installed as POTUS. The Campaigner-in-Chief, once forced out of his comfort zone and faced with being accountable for a deliverable for possibly the first time in his life, fell flat on his face.

Don’t Look, Just Go Forward. Ignore The Man With The Air Hammer

And the boy’s only response was the same as the primary plank of his 2008 platform, blame President Bush and, when that is too far-fetched for even his constituents, blame the GOP, the productive Americans, or anyone else he or his handlers can find.

Presidential Taglines – And Obama’s As Well

Sadly for Obama and his cronies, blamecasting only works for so long before people – even Liberals, Progressives, and their minority tenants – grow weary of it and want results. Being a whining, little crybaby is just a litany of failure and that doesn’t inspire followers. Results do that.

The whole thing is, however, a fitting reprise of the boy’s 2008 acceptance speech as the only warming trend and the only sea level he’s lowered is that of his own acceptance and support by his base. 😉

Tags: 2012 Elections | America | Debt | Deficit | DNC | Fail | Humor | Obama | Politics | Responsibility | Taxes | Unemployment

This entry was posted on Thursday, September 6th, 2012 at 12:23 pm and is filed under 2012 Election, Humor. You can skip to the end and leave a response. Pinging is currently not allowed.

Obama doesn’t believe – or claims during his ongoing campaign that he doesn’t – that business create their businesses. Instead, the boy says that someone else did that.

That begs the question of who pays for a business’ failure. If someone else built that business, are they, or should they be, responsible for paying off its debts if and when it goes under?

If I Fail, Who Pays My Debts?

The answer, of course, is that the business owner and only the business owner is responsible for paying his company’s debt in the event that his business fails. While, according to Obama, he is never responsible for its success, he is responsible for its failure.

In what passes for the Liberal mind, profits are to be socialized via confiscatory taxation but risks are to remain purely privatized. The collective mind demands accolades but spurns jeers, whether either come from individuals or the impersonal forces of the market.

Caveat: Size Matters

This all changes when the business is a very large corporation.In those rarefied, “too big to fail” instances, it will always be the tax payers that get saddled with the failed business’ debts. And, of course, the government will step in to determine just which creditors – their donors and supporters – actually get paid and which get told to shut up or face the consequences.

Tags: America | Debt | Free Market | Liberals | Obama | Politics | Progressives | Socialism | Taxes

This entry was posted on Monday, July 23rd, 2012 at 11:45 am and is filed under 2012 Election, Politics. You can skip to the end and leave a response. Pinging is currently not allowed.