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Left And Right Politics

…plus the cream in the center.

The Administration Has Ideas For The Housing Market

Posted by Billy On September - 2 - 2011

What those ideas are, we don’t know yet. According to the White House officials, Obama will unveil new plans to help the ailing housing market and to reduce foreclosures. He will outline the plans next week in his speech on “job creation”.

Unfortunately, the Administration suffers from short term memory since only a little more than two years ago, he tried to slow down the foreclosure rate and was totally unsuccessful. His last plan was to help between 4-5 million homeowner keep their homes from foreclosure, but the plan (as of May of this year) only help 810,000 refinance into loans with a lower rate. The refinancing initiative will allow certain borrowers to refinance loans that are backed by the improperly operated Fannie Mae and Freddie Mac. As a side note, both Fannie and Freddie have borrowed over $170 million over the last three years because of poorly run plans.

The Obama Administration is looking to make changes to existing programs aimed to allow borrowers to take advantage of lower mortgage rates, which will also include allowing them to refinance the loan even if they owe much more than the current property’s value. While the idea is expecting to help the borrower to free up cash for other spending to drum up overall business activity, it’s most like not going to do so since many don’t have enough money as it is to do more than they already are.

Either way you look at it, Obama and his cronies are grasping at straws to figure out a way to “fix” the economy. The only true way for the housing market to correct itself is to get the government out of the way and let the market correct on it’s own. While Fannie Mae and Freddie Mac account for nearly 90% of all residential mortgages, their time has come for them to be dissolved. It will take years to work out all the paper work to get all the assets of their books, but it needs to be done. The federal government was never intended to be in the housing market wither as a seller, buyer, loan manager or a landlord.

It’s too bad that Barney Frank is too close to the issue of Fannie and Freddie to make any clear decisions on what the right thing is that needs to be done. His life mate is on the board of directors and he doesn’t know how to run a business either.No matter what the government does, it’s going to affect the housing market in a negative way. As long as they are involved it will continue to be dragged out instead of a some-what quick recovery.

Let’s face it, the federal government is doing what they can to help the financial sector from taking another dive into the abyss and asking for more money from the tax payers.

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Hurricane Irene Moves Through Calmer Than Expected

Posted by Billy On August - 29 - 2011

Hurricane Irene came and went without as much damage as the main stream media and the government hyped it up to be. The storm which has been on the radar for well over a week while it made it’s way across the Atlantic ocean hit into the eastern seaboard of the United States over the weekend.

During the entire week we heard the news reports stated that this is going to hit Florida, then it said it was going to hit the Carolinas. It was estimated that it would be a CAT3 when it made land fall. Irene was over thousand miles from hit land, moving at 15 miles per hour, but the media along with the Obama Administration were issuing statement to batten down the hatches and prepare for the worse storm to hit the area in over fifty years. The estimates being reported in regards to the damages Irene will cause was over $8 billion and as high as $20 billion.

As of Sunday morning we can see that the damages from the storm was minimal, mostly due to flooding. Yes New York City did get hit with a lot of rain, but being a kid from Brooklyn, it wasn’t the first time nor the last.

It’s gotten to the point where people who listen to the newscast, watch the weather reports and pay attention to possible disasters are starting to think that the “power-that-be” have no idea what they are doing when it comes to notifying the public of important information. The truth of the matter is that they do know what they’re doing and it all surrounds ratings.

Even as the storm was downgraded to a CAT1 Friday night, the news channels didn’t push the point too much. Instead they sent reporters out to areas that the town or city are just a few feet above sea level and made it seem that this is what the entire city was dealing with.

Yes there were many areas in the tri-state area that flooded, but if you look at the landscape of the region, you’ll see that most of the area is only feet above the sea level. Have any decent storm move in on the city and the same thing will happen.

So why didn’t the government do the right thing and properly warn citizens about the truth instead of causing the entire east coast to shut down operations? Because after the mishap of this past winter when New York, New Jersey and Washington were buried under feet of snow, Mayor Bloomberg, Governor Christie and President Obama din’t want to show how incompetent they are when it comes to handling issues that need immediate action. So over the past week, the beaches were closed, subway systems shut down and government agencies had a few extra days off.

How are the American people going to take these warnings serious if every single issue is going to be handled like it’s the next Armageddon. News broadcast, newspapers, and the government (all levels) must be honest and precise with the information they release to the public if they expect the public to take them serious. If not, one day there will be a major warning and many people will just shake it off and go about their business. Then what are we to do when there are hundreds of people injured, trapped or even dead because the media and the government cried wolf once too many times.

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If I’m A Racist, Then You’re Prejudiced

Posted by Billy On August - 22 - 2011

Since Congress is on their undeserved 5 week vacation, there really hasn’t been big issues to talk or blog about. So I figured I’ll go ahead and talk about something that I was thinking about this weekend.

The double standard that goes on within Washington is ridiculous. No matter which political party is in control, the same games are played against the other. Here’s a quote from the then Congresswoman Hillary Clinton (D-NY)

“I am sick and tired of people who say that if you debate and you disagree with this administration somehow you’re not patriotic. We should stand up and say: We are Americans and we have a right to debate and disagree with any administration.”
— Hillary Clinton, April 28, 2003

That’s right, these words were spoken by our current Secretary of State, Hillary Clinton. She made these comments when the republicans had control of the House and the Senate. Hillary is absolutely correct. We, as Americans have the right, given to us by the Constitution, to have the choice to agree or disagree with our elected officials.

Now years later when the shoe is on the other foot, it’s wrong for Americans to disagree with the Obama Administration. It seems that when any group or another political party go against the current power, they’re considered wrong and will be referred to as “extremist’, “fanatic” or a “racist” Of course let’s not forget the favorite one of the Obama Administration and Democrats alike,… Wait for it…

“terrorists”.

Well let them call me whatever they want and I don’t care about it one bit. As long as this country has been in existence, it’s citizens have had the right to speak up against what our politicians are doing (or not doing) for this country. Since the 2008 election, the TEA Party and other constitutional minded groups have been speaking up and making a difference with the mindset of others who are typically unconcerned with the political BS that goes on. These groups have woken the sleeping giant, which is the patriotic American people. We will save this country from the Socialistic policies of the current administration and bring it back to the smaller, limited government that it was meant to be. It’s just going to take awhile for it to happen since the policies of both parties have been changing this Republic for over 50 years.

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Rick Santelli Rants In Defense Of The TEA Party

Posted by Billy On August - 9 - 2011

This morning, August 8,2001, before the markets even opened, Rick Santelli was asked about what he thought about all the events since last Friday night when Standard and Poors downgraded the credit rating of the U.S. His response as well as his analogies to the current situation is awesome. If you’ve watch CNBC during the trading day on Wall street, you know Rick Santelli for his reports live on the Chicago Board of Trade, where he is also known for his occasional rants. His rants (in my opinion) are so clear and straight to the point, it’s awesome.

Rick Santelli clearly does not agree, condone or accept the lack of leadership in Washington. I have to agree with him myself since I also share that same view. Obama and all the other politicians (both Republicans and Democrats) in Washington (oops I forgot, they’re on five weeks vacation) have shown no leadership skills during the last few months. What happened in the past week is just part of the results.

From Timothy Geithner telling Congress in April, 2011 that he sees no risk at all to the United States losing it’s “AAA” credit rating, to Obama’s lame speech today, we can see the lack of leadership.

If we, the American voter, don’t stand up and tell Congress and the president to do the job we sent them to Washington to do, we as a nation will lose more than we already have.

Here’s the video to Rick Santelli’s rant this morning. I know you’ll enjoy it as much as I did.

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