Another completely accurate statement about the Failure that is Buttcrack Insane Osammy and his continued hatred of America as he is not one of us. We have been preaching this message to our friends, family and associates since February 2008 as we witnessed the rise to power of this usurper and the subsequent and parallel failure of the American Economy and The Morals of Americans.
Subject: Dr. Hunt...INTERRSTING
This fellow seems pretty intelligent, for the sake of the country let's hope his predictions are accurate !!!
The following is an interesting article and I wonder how long Dr. Hunt can remain at NIH once the powers that be get wind of this article. Dr. Hunt is a social and cultural anthropologist. He has had nearly 30 years experience in planning, conducting, and managing research in the field of youth studies, and drug and alcohol research. Currently Dr. Hunt is a Senior Research Scientist at the Institute for Scientific Analysis and the Principal Investigator on three National Institutes on Health projects.. He is also a writer for American Thinker.
Subject: Another Failed Presidency
An article from American Thinker by Geoffrey P. Hunt
Barack Obama is on track to have the most spectacularly failed presidency since Woodrow Wilson. In the modern era, we've seen several failed presidencies--led by Jimmy Carter and LBJ. Failed presidents have one strong common trait-- they are repudiated, in the vernacular, spat out. Of course, LBJ wisely took the exit ramp early, avoiding a shove into oncoming traffic by his own party. Richard Nixon indeed resigned in disgrace, yet his reputation as a statesman has been partially restored by his triumphant overture to China.
But, Barack Obama is failing. Failing big. Failing fast. And failing everywhere: foreign policy, domestic initiatives, and most importantly, in forging connections with the American people..
The incomparable Dorothy Rabinowitz in the Wall Street Journal put her finger on it: He is failing because he has no understanding of the American people, and may indeed loathe them.
Fred Barnes of the Weekly Standard says he is failing because he has lost control of his message, and is overexposed.
Clarice Feldman of American Thinker produced a dispositive commentary showing that Obama is failing because fundamentally he is neither smart nor articulate; his intellectual dishonesty is conspicuous by its audacity and lack of shame.
But, there is something more seriously wrong: How could a new president riding in on a wave of unprecedented promise and goodwill have forfeited his tenure and become a lame duck in six months?
His poll ratings are in free fall. In generic balloting, the Republicans have now seized a five point advantage. This truly is unbelievable. What's going on?
No narrative. Obama doesn't have a narrative. No, not a narrative about himself. He has a self-narrative, much of it fabricated, cleverly disguised or written by someone else. But this self-narrative is isolated and doesn't connect with us. He doesn't have an American narrative that
draws upon the rest of us. All successful presidents have a narrative about the American character that intersects with their own where they display a command of history and reveal an authenticity at the core of their personality that resonates in a positive endearing way with the majority of Americans. We admire those presidents whose narratives not only touch our own, but who seem stronger, wiser, and smarter than we are. Presidents we admire are aspirational peers, even those whose politics don't align exactly with our own: Teddy Roosevelt, FDR, Harry Truman, Ike, and Reagan.
But not this president. It's not so much that he's a phony, knows nothing about economics, and is historically illiterate and woefully small minded for the size of the task--all contributory of course. It's that he's not one of us. And whatever he is, his profile is fuzzy and devoid of content, like a cardboard cutout made from delaminated corrugated paper. Moreover, he doesn't command our respect and is unable to appeal to our own common sense. His notions of right and wrong are repugnant and how things work just don't add up. They are not existential. His descriptions of the world we live in don't make sense and don't correspond with our experience.
In the meantime, while we've been struggling to take a measurement of this man, he's dissed just about every one of us--financiers, energy producers, banks, insurance executives, police officers, doctors, nurses, hospital administrators, post office workers, and anybody else who has a non-green job.
Expect Obama to lament at his last press conference in 2012: "For those of you I offended, I apologize. For those of you who were not offended, you just didn't give me enough time; if only I'd had a second term, I could have offended you too."
Mercifully, the Founders at the Constitutional Convention in 1787 devised a useful remedy for such a desperate state--staggered terms for both houses of the legislature and the executive. An equally abominable Congress can get voted out next year. With a new Congress, there's always hope of legislative gridlock until we vote for president again two short years after that.
Yes, small presidents do fail, Barack Obama among them.. The coyotes howl but the wagon train keeps rolling along.
Margaret Thatcher: "The trouble with Socialism is, sooner or later you run out of other people's money."
"When you subsidize poverty and failure, you get more of both.." – James Dale Davidson, National Taxpayers Union
"The more corrupt the state, the more it legislates." – Tacitus
"A Liberal is a person who will give away everything he doesn't own.." Unknown
This most important message about Barry Buttcrack not being one of us, An American that is, is brought to you by the Obama Failure and Socialism Blog because it is time to get rid of this socialist and take back our country
Showing posts with label Failure. Show all posts
Showing posts with label Failure. Show all posts
Saturday, December 19, 2009
Thursday, July 2, 2009
Obama Failure Mortgage Bailout Plan
Another Obama Failure
The data for April and May prove that Obama's plan to rescue those facing mortgage foreclosure is a dismal failure. Since this issue was the cornerstone of his economic program during the campaign, its abject failure is a significant setback for the Administration's economic plan.
In the month ending on May 26th, 464,983 foreclosures of subprime and Alt-A mortgages (out of a universe of 3.2 million studied). So 15% of all subprime mortgages were foreclosed in May!
Only 19,041 -- a paltry 6% -- were modified during this period. And of those modified, only 11,200 involved any reduction in the monthly payments! Only 12% involved any write-off of interest, fees, or principal and 27% of the loan modifications actually increased the monthly payments due.
Alan M. White of the Valparaiso Law School, who conducted the study, noted that the data showed that "the Administration's plan to stimulate mortgage modifications does not seen to have had much effect yet, at least in this market segment" [i.e. subprimes].
And the trend lines are all bad:
The number of loan modifications dropped 11% from April to May.
The ratio of foreclosure losses to modification write downs (the amount lost in foreclosure: the amount rescued by write-downs) doubled in the past month. For every dollar saved in modifications, $150 was lost in foreclosure.
When Obama launched his mortgage rescue plan, he promised that it would help five million households.
So far, he is about 4,969,000 short of his goal!!
When will the subprime foreclosures stop? In about a year when all of these unfortunate people have lost their homes!
Why is Obama's plan falling so far short of the mark? The fault is its own restrictions. You cannot get a loan modification if:
1. You have lost your job
2. You owe more than 5% above what your house is worth
3. You are already in default
4. You have not yet missed at least one payment
5. Your lender does not want to participate
6. Your mortgage is not one of the half of all mortgages insured or owned by Fannie Mae or Freddie Mac
7. The reworked mortgage payment would come to more than 31% of your income
8. Your mortgage is over $759,000
9. The home is not your primary residence
The number of beleaguered homeowners who can slip through the eye of this particular needle and qualify for a mortgage modification is tiny.
(Dick Morris discusses the failure of Obama's mortgage relief program at length in his new book Catastrophe, due out on June 23rd. Pre-orders of signed books are available at DickMorris.com)
And yet there is an easy remedy at hand. Obama should simply say, as they did in Sweden, that the government will simply buy the distressed mortgages from the banks and adjust the payments to make them possible for the homeowners. Then, when the economy comes back, the homeowners could either pay back the government what they owe for the postponed payments or sell the house and repay the feds from the proceeds. If they won't do either, the feds could then seize the house and get their money back. Cost to the taxpayers: zero. In f act, they would likely make a profit.
Why won't Obama do this? It's because a Democratic administration cannot throw people out of their homes. Better to let them default and make the big, bad bank do the dirty work.
All these facts underscore how cynical was Obama's campaign in predicating so much of its economic message on an appeal to help those facing foreclosure. You don't hear Obama talk about foreclosures any more do you?
That's because he knows he has no solution and that he won't offer any.
Obama Failure and Socialism
The data for April and May prove that Obama's plan to rescue those facing mortgage foreclosure is a dismal failure. Since this issue was the cornerstone of his economic program during the campaign, its abject failure is a significant setback for the Administration's economic plan.
In the month ending on May 26th, 464,983 foreclosures of subprime and Alt-A mortgages (out of a universe of 3.2 million studied). So 15% of all subprime mortgages were foreclosed in May!
Only 19,041 -- a paltry 6% -- were modified during this period. And of those modified, only 11,200 involved any reduction in the monthly payments! Only 12% involved any write-off of interest, fees, or principal and 27% of the loan modifications actually increased the monthly payments due.
Alan M. White of the Valparaiso Law School, who conducted the study, noted that the data showed that "the Administration's plan to stimulate mortgage modifications does not seen to have had much effect yet, at least in this market segment" [i.e. subprimes].
And the trend lines are all bad:
The number of loan modifications dropped 11% from April to May.
The ratio of foreclosure losses to modification write downs (the amount lost in foreclosure: the amount rescued by write-downs) doubled in the past month. For every dollar saved in modifications, $150 was lost in foreclosure.When Obama launched his mortgage rescue plan, he promised that it would help five million households.
So far, he is about 4,969,000 short of his goal!!
When will the subprime foreclosures stop? In about a year when all of these unfortunate people have lost their homes!
Why is Obama's plan falling so far short of the mark? The fault is its own restrictions. You cannot get a loan modification if:
1. You have lost your job
2. You owe more than 5% above what your house is worth
3. You are already in default
4. You have not yet missed at least one payment
5. Your lender does not want to participate
6. Your mortgage is not one of the half of all mortgages insured or owned by Fannie Mae or Freddie Mac
7. The reworked mortgage payment would come to more than 31% of your income
8. Your mortgage is over $759,000
9. The home is not your primary residence
The number of beleaguered homeowners who can slip through the eye of this particular needle and qualify for a mortgage modification is tiny.
(Dick Morris discusses the failure of Obama's mortgage relief program at length in his new book Catastrophe, due out on June 23rd. Pre-orders of signed books are available at DickMorris.com)
And yet there is an easy remedy at hand. Obama should simply say, as they did in Sweden, that the government will simply buy the distressed mortgages from the banks and adjust the payments to make them possible for the homeowners. Then, when the economy comes back, the homeowners could either pay back the government what they owe for the postponed payments or sell the house and repay the feds from the proceeds. If they won't do either, the feds could then seize the house and get their money back. Cost to the taxpayers: zero. In f act, they would likely make a profit.
Why won't Obama do this? It's because a Democratic administration cannot throw people out of their homes. Better to let them default and make the big, bad bank do the dirty work.
All these facts underscore how cynical was Obama's campaign in predicating so much of its economic message on an appeal to help those facing foreclosure. You don't hear Obama talk about foreclosures any more do you?
That's because he knows he has no solution and that he won't offer any.
Obama Failure and Socialism
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