An Open Letter to Michael Moore 5/21/09 May 22, 2009
Before you begin your movie on the economy continuing to bash George W you should read these two pages from the Federal Register.
Section C & D
This will explain to you the kindling point when in 1997 Bill Clinton expanded Jimmy Carter’s 1977 Community Reinvestment Act. (60 FR 22156–57)
In a nut shell, Bill Clinton mandated that banks make loans a lot easier for people that could not afford homes so that they could buy them anyway. The usual Socialist Democrat “Creating a land of Entitlement.”
You may also want to read my Blog.
You will notice that I wrote this entry on September 29, 2008.
You will also notice that almost everything that I predicted about Barack Obama came to be true including the relentless blaming of George W. for all the problems with the economy when it was really Bill Clinton that started it in 1997. I will admit that George W. did not battle hard enough against the Democrats in 2004 to prevent the total meltdown of the economy in 2007-2008.
I will bet that you will mention absolutely nothing about what Bill Clinton did in your movie and if you do it will be one line with no coverage of his blunder at all.
This act that Bill Clinton did was swept under the carpet and never mentioned on any news cast including Fox News Network. How did I find out? My cousin sent me the “Burning Down the House” video and I was just so blown away that I spent a month researching it before I wrote my blog. When I got to the mandate in the Federal Register I knew that it had really happened and the rest of the puzzle could be put together by a 12 year old.
This is how it plays out. If Bill Clinton had never expanded the CRA in 1997 and mandated that banks write loans to people that could never afford a home to begin with, The banks would have continued to write safe and secure traditional 30 year loans instead of using creative lending practices like 5/25, 2/28, no down payment, Interest only loans etc. The deregulation opened doors to predatory lenders that took advantage of a very dysfunctional, bad law. None of that would have happened and our economy would not be in the condition that it is in today with Barack Obama making worse and worse every day he speaks.
I hope you are intelligent to see this chain of events and now the Socialist/Democratic way of handling the economy will fail just like it did in 1997 with Bill Clinton except a lot worse. We are looking down the barrel of huge taxes, very high interests rates to combat inflation that will be created by printing all this money that doesn’t exist today and 13% to 15% unemployment. You can’t create jobs with high taxes and excruciating regulations on business. Businesses will not grow or even start to employ people until taxes come way down and restrictions are lifted on corporations to grown and reduce unemployment.
Today Barack Obama continues to use the “Community Reinvestment” theme that failed so miserably in the past.
I hope you are intelligent enough to do your own research and find out more about this.
P. S Nancy Pelosi want to investigate the Bush administration for war crimes, yet she does not want to investigate Bill Clinton for dereliction of duty and crimes against the US economy by providing a mandate that facilitated the destruction of the credibility of the US banking system that eventually spread though out the world.
An Open letter to Mr. Jeff Baker 3/16/09 March 16, 2009
Mr Baker left a comment on my article:
Here is my very positive response to Mr Baker’s comments.
Thank you for the comments. My goal here is not to change anybody’s mind as I would rather get people to do their own research on the candidates they are voting for and not just watch the campaign commercials. My cousin sent me the first video called “Burning down the house” which is on my very first blog.
Before receiving this video I, like an overwhelming number of Americans especially the young ones. did not know a thing about Jimmy Carter’s Community Reinvestment Act of 1977 and the subsequent expansion of the CRE by Bill Clinton in 1997. As I did my research I needed a concrete government document on what that really was. And I found it at
The writing was on the wall as to how we got here today.
Think of the economy as a burned out house. We know that things burned in the house. Couches (Banks), Tables (Loan Industry), Chairs (Real Estate market), Beds (Loan industry), But where was the ignition point that started the fire? I wholly believe that Bill Clinton’s mandate for banks to make it easier for poor people to get loans was the spark and the fuel to start the fire (Economic Meltdown.)
I just wish more people would realize this. The sad part is we have a lot of the same people now in office that believe in a “Land of Entitlement.”
So this train wreck will continue as long as Democrats are in control.
An Open Letter To Bill O’Reilly February 27, 2009
I have a question. I am really convinced that this whole financial meltdown was instigated by Bill Clinton’s mandate for more loans to be written by banks. Item 2C on this page.
My biggest frustration is that with mandate it opened the door for greedy bankers and investors to do all the damage that they have done. When Billy Carter wrote the CRA of 1977 it corrected a problem called “Redlining” that banks were doing by not writing loans in the inner cities of our country. Fast forward to 1997 when Clinton created the expansion of the CRA of 1997. Basically Bill Clinton created a land of entitlement for people that could never afford a home under normal lending practices. Enter Bear Sterns and other lending organizations that invented “Creative Lending Practices” Aka “Sub Prime Loans” in order to meet the requirements of Bill Clinton’s Lending practice rating system. So My question is why doesn’t anyone address this issue? Why has it been brushed under the carpet for years? I really wish you could take a few minutes and read my blog.
Love your show.
Keep it up.
An Open letter to Congressman Adam Schiff 2/11/09 February 11, 2009
Dear Congressman Schiff,
After reading the results of this last survey you put out about the “Spendulus” package I am just appalled buy the number of people that are so uneducated as to believe Barack Obama’s “Fear Mongering” about the doomed economy. After doing some homework I find the similarities between Jimmy Carter, Bill Clinton and Barack Obama so striking it scares me. Jimmy Carter also was elected just Barack Obama by “Fear Mongering.”
But then it was called “The Misery Index.” http://www.miseryindex.us/ Jimmy Carter also tried to spend his way out of the bad level of The “Misery Index.” Where did that get us when Jimmy Carter printed billions of dollars just like Barack Obama? It got us 23% interest that was demanded by the fed to curb the 13% inflation that was created by Jimmy Carter printing all that money that was not backed by gold in the US Treasury. Clearly what Barack Obama is selling you and all your constituents is a train wreck looking for a time and place to happen.
OK lets look at what it looks like Tim Geithner is proposing to do. Look and read this especially section “C”. http://bulk.resource.org/gpo.gov/register/2005/2005_10024.pdf.
Then read. http://bulk.resource.org/gpo.gov/register/2005/2005_10025.pdf
What Bill Clinton mandated the expansion of Jimmy Carter’s Community Reinvestment Act of 1977 in 1979, that was the catalyst that spurred banks and lending institutions to write more loans and meet the quotas that were to be kept score in #10025 above. This forced banks and lending institutions to figure out a way to write more loans to financially challenged people that could not qualify for a traditional 30 year loan. Thus the birth of “Creative Financing” aka “the sub prime loan.” What Tim Geithner is proposing to do is also force banks to write loans that they are not comfortable with. Congressman Schiff let me set up a scenario for you. Imagine you were an underwriter for home loans for any institution. Before you there was a pile of home loans for you to asses the risk management for. Mean while on the radio you have Barack Obama absolutely hammering away all day long making speeches that if “HIS” spending package doesn’t get passed very very bad things in our economy are going to get worse and last longer. And if you do pass it, it will take many years to fix itself if in fact it works at all. Congressman Schiff, how would you feel about putting that stamp of approval on that stack of loan applications?
PLEASE PLEASE do not listen to the Golden Tongue of Barack Obama’s propaganda or the acidic voice of Nancy Pelosi and do not pass this “Spendulus” package into law.
Here is an article in USA today indicating that we may, I say may be at the bottom with home loan foreclosures and we may not have to spend 780 Million dollars to restart the economy. It may be starting by itself. We all know that you can throw zillions of dollars at the economy but it will recover at it’s own pace. It is a natural cycle for the economy to repair itself. Because by and large democrats DO NOT understand SUPPLY and DEMAND, the principles of business and the fact that the American Economy and for that matter the World economy is a living. breathing. dynamic entirety that goes at is own pace. Sometimes an individual makes a very very serious decision that has a moving effect on the Economy like what Bill Clinton did or if you remember what the Hunt Brothers tried to do with silver. http://en.wikipedia.org/wiki/Nelson_Bunker_Hunt.
These created speed bumps in our economy. However Bill Clinton created a crevasse into which out economy fell into and Barack Obama is going to successfully keep us in.
Barack Obama, Propaganda, Jimmy Carter, Inflation, High Interest Rates “Reinvestment Act” and The “Misery Index.” January 30, 2009
As I listen to the rhetoric that is coming from Barack Obama’s tone of voice I have to ask myself if the rapid collapse of our economy is being caused by Barack Obama telling us day after day that the economy is in very bad shape? Thus unnecessarily eroding the confidence of the American people. Thus making people believe that this huge spending package is the only way to save the The United States Of America? Is this rhetoric manipulative propaganda?
Let’s go back to an article that I had wrote previously.
I had wrote of the possible influences that Frank Marshall Davis may have had on Barack Obama.
One of the tactics that has propelled the the Communist Party into successful power is PROPAGANDA. Propaganda is the perfect tool to sway people into thinking the same way the leader does.
My point is that it seems that Barack Obama is telling us that the economy is very, very bad and will get worse. He tells us everyday. We as the public already know this. It seems that he is over zealously telling this every day so the public will back him on this massive spending plan that will shift the wealth from the private sector to the government by making us dependent on the government for jobs, bailouts and miniscule tax rebates. Seeing as how the government does not have this money to give to us, the only solution is to print the money. Printing money that we do not have gold backing for in the federal reserve is called INFLATION.
Previous Barack Obama Propaganda:
So is Barack Obama’s Propaganda having an influence on the public that is listening? Does Barack Obama’s Propaganda have a great influence in certain sectors of our society
Ok, so what does this mean? Well in a very, very short time it will take more dollars to pay for things. When inflation gets out of control then the Federal Reserve will raise interest rates. Money will cost a lot of money to get. In the end, Barack Obama will create a lot of jobs but when all is said and done, people will still not be able to afford anything, because of high inflation, high interest rates and the inevitable much, much higher tax rates to deplete the over bearing deficit.
If you look back in history to the Jimmy Carter Administration you will find that during Jimmy Carter’s Reinvestment Act, much the same as Barack Obama’s, we went into years of double digit inflation because the dollar was so devalued (The fed printed a hell of a lot of money to fund the Reinvestment Act). To combat high, runaway inflation the Federal Reserve kept raising interest rates. Now, much to Jimmy Carter’s credit there were 10.5 Million Jobs created under his presidency. However people could not afford to buy anything because the price of merchandise and interest were well beyond the average person. The end result was the economy did not grow thus we had “STAGFLATION.”
Here is an interesting page from the Wall Street Journal:
Note that during the George W. Bush years there was the lowest unemployment and the the lowest interest rates. One may argue that George W. Bush only created 3 Million jobs. But wait…. almost everyone was working. But as the economy began to collapse because of Bill Clinton’s expansion of the Community Reinvestment Act in 1997, the unemployment number skyrocketed in the last months of George W. Bush’s term. This was not George W. Bush’s fault at all.
Carter: Interest rate, 21%. Inflation, 13.5%. Unemployment, 7%. The so-called “Misery Index,” which Carter used to great effect in his 1976 campaign to win election.
Reagan’s last year: Interest rate, 9%. Inflation, 4.1%. Unemployment, 5.5%.
George W. Bush: Interest rate, 8% down to almost 0%. Inflation, 2.6%. Unemployment, 4.5%.
“The misery index was initiated by economist Arthur Okun, an adviser to President Lyndon Johnson in the 1960’s. It is simply the unemployment rate added to the inflation rate. It is assumed that both a higher rate of unemployment and a worsening of inflation both create economic and social costs for a country. A combination of rising inflation and more people of out of work implies a deterioration in economic performance and a rise in the misery index.”
So what is my point? I think you can see the parallels between Barack Obama’s campaign and Jimmy Carters campaign and what lies ahead for us. Barack Obama is doing nothing new. It is an almost textbook repeat of the Jimmy Carter administration. Even the rhetoric is the same. “Reinvestment Act” is the key phrase. Barack Obama also has used the “Misery Index” as an excuse to get elected.
This is how it works folks. When interest rates climb people invest in high yield bonds, CDs and other interest generating investment vehicles. The public does not invest in stocks that are much riskier. That means that even Mutual Funds shift their assets into to CDs, Money market and bonds. This makes it very difficult for companies to raise money for capital investments, company expansion, job growth etc. with the sales of company stock etc. What you end up with is STAGFLATION.
If you were to read this article written by John T. Woolley and Gerhard Peters at The University of California Santa Barbara. You will see the striking resemblance of Barack Obama’s “Change” and what Jimmy Carter did when he was in office from 1977-1981.
Is is true that history repeats itself?