Wednesday, October 7, 2015
The Next Stock Market Crash Is Near, And Obama Is Largely To Blame
Items that have led up to the impending crash:
1 The 2008 real estate crash that took the economy down (caused directly by the Clinton administration by enforcing the Community Reinvestment Act which, under threat of further in-depth investigations by Clinton’s Attorney General Janet Reno, forced lending companies to make loans to risky borrowers, which in turn led to the sub-prime bad idea).
2 General economic depression resulted on a one-thing-led-to-another basis and the government, in its desire to run and control everything, frightened the nation and the world with total economic collapse if the government didn’t save the day and immediately begin spending money.
3 Obama gets his trillion-dollar stimulus from congress (which was made up of money borrowed from foreign governments, some of whom are not our friends). This porkulus bill created a feeling that the economic problems had been solved and that all was well with the world (at least that’s what Obama told us).
4 The Fed imposes near-zero interest rates and introduces quantitative easing, which resulted in pumping unprecedented quantities of money into the stock market. This move caused the market to respond favorably (which Obama said was good and was a sign of economic recovery) and,
5 Created a new and potentially more dangerous stock market bubble.
6 Because he’s a liberal, Obama repeatedly speaks of forgiving bad college loans and overlooking bad home loans, and his administration created the HARP program to replace the failed sub-prime folly.
There are also some other enduring causes of the current bad economy: Obamacare. A stalled Keystone pipeline. Obama’s war on coal. A deluge of EPA regulations attacking businesses and private property across the nation.
The first and most natural thing a liberal government feels it must do is control any situation, and in this instance Obama would not allow the stock market to gradually correct itself and regain sanity by letting some companies fail. Instead it picked favorites and made sure they stayed in business and became grateful and subservient to the Obama administration for their bailouts.
America, under Obama, is in debt over its head and all Obama can do is dig us deeper. Obama’s “fundamental transformation of America” is well under way and we’re proceeding full speed ahead toward disaster.
Posted by Dave King at 7:45 AM