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? Elena: The Balkan Girls (Romania) | Main | Performing the Fourth Amendment ?

May 16, 2009

Destroying the instruments of wealth

Doctor Zero considers the "increasingly Venezuelan business environment" created by the Obama administration. Much more at the link on the importance of credit to the economy.

These casual accusations of criminality and deceit come easily to Obama, who has been a real bull in the china shop of the credit industry. He’s threatened Chrysler’s bond holders with personal destruction, and used raw government power to adjust the balances on home mortgages. Nervous banks have taken TARP funds designed to stimulate new lending, and sat on those funds instead, because they’re afraid to make loans in the increasingly Venezuelan business environment the Administration has created. U.S. Treasury bonds are losing frightening amounts of value in the face of reckless deficit spending. This Administration probably wouldn’t exist if a group of fabulously corrupt senators including Barack Hussein Obama hadn’t gotten rich by forcing the mortgage industry to make unrealistic loans to politically favored constituent groups, and fending off every attempt to correct the system before it crashed.

And yet we keep talking as if this state of affairs came about by accident; that the destruction of the United States' bond rating, financial system and heavy industry (and, of course, its armed forces) is an accident. It is not. It it the direct consequence of a constitutional coup engineered in part by the Cuban state security services and abetted by their agents in place riddling state supported higher education and by a mainstream media too ignorant and ill educated to recognize the project in which it has been enlisted.

You probably think I am joking.

Posted by Ghost of a flea at May 16, 2009 02:54 PM

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