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September 16, 2008

Empty man

Barack Obama will fix the economy. He's not entirely sure what's happening on Wall Street, and he's not clear on what it will take to turn things around, but that doesn't mean he can't say a lot of words about it that end up meaning nothing.

Posted by Karol at September 16, 2008 11:20 AM | TrackBack
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haha that was precious. also someone should tell lil ol' barry that clinton-era legislation wanted to encourage minority homeownership which led to risky investments by the mortage lenders.

Posted by: pn at September 16, 2008 11:47 AM

Uh, yesterday McCain said he would fix things too. And his fix would be?

This morning on MSNBC he literally said: "Wall Street has broken the social contract between capitalism and the average citizen."

Can you tell me what that means?

Posted by: Joseph Weisenthal at September 16, 2008 11:50 AM

Well unlike McCain he knows how to use the internet - I'm sure he'll find the answers to the economy there.

Posted by: Arri at September 16, 2008 11:51 AM

Yes, Joe's right. McCain also blamed 'wall street greed' which is junior high rhetoric in my eyes. Are we at a hippie bonfire? Both candidates need to seriously brush up or not assume the voting public are morons.

Posted by: pn at September 16, 2008 01:17 PM

tell lil ol' barry that clinton-era legislation wanted to encourage minority homeownership which led to risky investments by the mortage lenders.
Uh...I'm a minority and I own my home. I have never missed a mortgage payment or even sent one in late. Indiana is currently the national leader in home foreclosures, not exactly the "hood." I will go ahead and assume that you simply spelled poor people who were duped into predatory loans incorrectly.

Posted by: Not Dawn Summers at September 16, 2008 01:24 PM

Ummm, note to Alarming News readers: I just googled "economy" - turns out we don't even have one. It's a non-issue, kids.

Posted by: Snoop-Diggity-DANG-Dawg at September 16, 2008 01:58 PM

Seriously? Yes nds, that's what i meant. all minorities can't pay their mortgages and therefore I am a racist.

There are many bills passed with the good intention of minimizing slums (i.e. Community Redevelopment Act) but end up hurting the economy in the long term.

Posted by: pn at September 16, 2008 01:59 PM

I'm sure that's true and I'm sure that's what you meant, what you wrote, on the other hand, involved laying this mess at my feet.

Posted by: Not Dawn Summers at September 16, 2008 02:06 PM

"predatory loans"?

NDS, if you own yor home, as you say (I assume that means you paid off your mortgage) you should know there is no such thing as predatory loan.

I've been thru process of obtaining a mortgage 3 times (1 purchase, 2 refinancings). The conditions are spelled out many times, from preliminary contract to final papers. Nobody forces the borrower to sign it blindly, without reading all the disclosures. In other words: if anyone is a cheater in it, it's the people who take on a mortgage they know they can't afford to pay off. I don't care what color their skin is, or their IQ number, or how they got where they got. As long as we all are made to pay for their deliberate cheating, I say - they are the real predators, not the banks that were forced by politicians to offer loans to them.

Posted by: Tatyana at September 16, 2008 02:19 PM

remember when a racist was someone who spoke, thought or acted against minorities? I liked that way a lot better than now, where pointing out a difference is racist. African Americans tend to have darker skin - I'm my own KKK rally with that one, aren't I?

It's interesting. Obama gave me the impression that this election would bring out all the white supremacists and minority hating white folks - and yet it REALLY seems to be the flipside.

Posted by: Arri at September 16, 2008 03:38 PM

"...this election would bring out all the white supremacists..."

It sure did bring out all the misogynists.

Posted by: Snoop-Diggity-DANG-Dawg at September 16, 2008 03:42 PM

Just a thought. Clinton was 7 years ago. This freefall has occurred on W's watch. It is conceivable that some people may not want to vote in someone from the same party after this.

Posted by: bryan at September 16, 2008 04:16 PM

Apparently McCain does have a plan to fix Wall St.
http://www.youtube.com/watch?v=x7EbK1RREU4

He doesn't say what it is, just that he has one, but still.

Posted by: Joseph Weisenthal at September 16, 2008 04:37 PM

Apparently McCain does have a plan to fix Wall St.
http://www.youtube.com/watch?v=x7EbK1RREU4

Posted by: Joseph Weisenthal at September 16, 2008 04:38 PM

So I'd have to assume that, according to NDS, that Cuomo and Clinton are virulent racists:

http://realtytimes.com/rtpages/20000613_hud.htm

To reach its intended target, HUD Sec. Andrew Cuomo committed the Federal Housing Administration to insure 765,000 mortgage for members of the two minorities. And he called on the private sector to pitch in by pushing the initiative over the top... "I believe we can and we must reach this historic goal," the Secretary said in a statement released on Saturday. "The dream of home ownership isn't reserved for white families it's an American dream and it's open to every family in our country."

Burn him! Burrrrn himmmmmm!

Posted by: Sean at September 16, 2008 05:24 PM

Sean - I'm pretty sure the criteria for "racist" is devolving to where you pretty much just have to be white.

Posted by: ari at September 16, 2008 08:15 PM

Dammit - was I being racist just there?

Posted by: ari at September 16, 2008 08:16 PM

bryan, W is no more responsible for this "bad" economy than Clinton was responsible for the 1990s. So how's your economy doing? Are you blaming Gordon Brown or Tony Blair? And why would you blame them for things out of the control of one man?

Ha, people think things are bad in the U.S. because of 6% unemployment? It wasn't long ago that 6% was considered the high end of "full employment," and the only reason it's so high is because of all the lazy Americans who are pulling unemployment benefits. Now in France or Germany, 6% is called an economic boom, and being on unemployment for a few years is considered "normal."

Posted by: Perry Eidelbus at September 17, 2008 12:16 PM

"in France or Germany, 6% is called an economic boom..."

In France or Germany 6% unemployment would never happen.

Posted by: Snoop-Diggity-DANG-Dawg at September 18, 2008 01:32 AM

Perry, Brown is being blamed at the moment for this economic meltdown. He didn't really cause it personally, like W, but he's getting the blame anyway. Our poor Summer weather is also his fault. It's weird, but it happens. How did the wedding go. What sort of cake did you have (damn this diet!)?

Posted by: bryan at September 18, 2008 04:34 AM

Barack Obama will fix the economy - Good luck!

Posted by: Debora at September 18, 2008 10:31 AM

Perry, Brown is being blamed at the moment for this economic meltdown. He didn't really cause it personally, like W, but he's getting the blame anyway. Our poor Summer weather is also his fault. It's weird, but it happens.

Which is the same type of idiocy. That's my point: unless you're Russia, Cuba or Zimbabwe, the president does not control the economy.

How did the wedding go. What sort of cake did you have (damn this diet!)?

Everything went well, except for my mother getting excited and chatting away during the ceremony, which clearly irritated the judge. No cake, since this was just a civil ceremony without a reception. Our church wedding is next year in the Philippines, where most of our families still reside.

Posted by: Perry Eidelbus at September 18, 2008 02:00 PM
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