donspoliticalblogatl's Blog

As I sit here and watch the first snowfall of winter I am taken back to earlier times, times when the first snow meant the joy of sledding down Dawson hill as a child. The joy of maybe having a snow day from school. Things are much different now, I look at the snow and wonder how many families are being evicted from their homes today or how many businesses will close today across this America of ours. A year ago our stock market was sailing along at its highest level ever now we can barely hit 8500. What happened to our economy? I know what we’ve heard in the news and from the reports of government, but what caused this crash to happen?

I am so terribly sick of Pelosi and Reid and their anti administration rhetoric. I am no fan of the Bush administration but they have been politicizing the weaknesses in our economy for two solid years. They have taken absolutely no blame for the failure of the financial markets even though it has been proven to be caused by the high risk home loans pushed by their agenda. I know I hear the noise, Obama is wonderful, he is the new Messiah and he will straighten it all out and we will have milk and honey once he is elected. What a bunch of crap! Bush and his administration tried to get oversight on these companies in 2003. Then Secretary Snow was rebuffed and chastised for his effort. The leading democrats in the blocking were Congressman Frank who stated that there was no problem and the republicans were just trying to slow the minority programs. Congresswoman Maxine Waters stated at the hearing that the CEO of Fannie Mae, Franklyn Raines had done a marvelous job and this was nothing more than a witch hunt. Senator Dodd and Obama were the two highest paid by Fannie Mae with Dodd receiving over $160K and Obama $121K. The organization ACORN was also a big mover and shaker in the effort to release more funds for minority loans. They said these were the safest loans in the portfolio. The Black Caucus also took up the fight against oversight. Do any of you know Obamas roll in ACORN? This is the same ACORN that is being investigated in several states for voter registration fraud. It seems the director of ACORN was so intrigued by the junior Senator from Illinois that she asked him to help train the staff at ACORN, which he did.

Our economic situation is like life, for some the glass is half full for others it is almost empty. When you tell people enough times that the glass is empty in their minds it will be empty and a sort of panic sets in. The leaders of the House and Senate for the last 2 years have been politicizing our economy in a successful effort to discredit the administration. They have constantly talked down to the American people about our efforts in Iraq and the economic slide. This rhetoric has consequences and eventually with the help of a brooding media they have finally caused panic. It just may be more than they bargained for as their politicizing of the problem has had worldwide consequences this time.

The only way this economy has a chance at recovery is for the government to take immediate action to relieve the consumer blockage. We must free up consumer credit so that the everyday purchases of automobiles and other high ticket items gets back on track. I don’t care how much you have been taught by the left to hate the American car companies we need them to recover if we are going to have any form of recovery ourselves. We also need immediate relief for the small businessmen and women that are the very backbone of our country. The SBA should be funded from the bailout for emergency loans to viable businesses to keep these entrepreneurs afloat. The banks and financial institutions who are closing these companies must be stopped from doing so or we will find ourselves no better off than a third world economy.

Companies like General Motors Acceptance Corporation who have gotten themselves in trouble with their mortgage loans are forcing auto dealers to face ridiculous terms. Most automobile dealers floor their vehicles. When sold they have to payoff the bank, GMAC for example. The average time for a dealer to get funded for a typical sale to the consumer has been running 5 to 6 days since the slowdown. GMAC has now asked many of their dealers to pay the car off within 3 days. What does this do? First of all a dealer who may sell 10 cars from Friday to Sunday has to pay them off by Tuesday or Wednesday. Ten vehicles in todays market amount to over $250,000 usually and the dealer may not get his money back until Thursday at the earliest. Many times funding will not come in from the credit sources until Monday or Tuesday. Most have tremendous payrolls to support the service area of the company and it gets to the point where either the employees suffer through layoffs or the dealer becomes out of trust with the financial institution and then everyone is out of work. Without immediate help you will see a major change in the Automobile industry. The completion that keeps prices low will be no more and surviving dealers will be able to charge you much more for their products.
We can sail along asleep as the world crumbles around us or we can do as Americans have in the past and roll up our sleeves and get working. We have to change the attitudes of the buying public to free up inventories in all industries. It can be as simple as you buying the washing machine you have been wanting or the 2nd car you need for the family. It starts with us and will go upwards. Americans have always been leaders and now is a time for us to lead the world back from this manmade disaster.

Here is a web site to back up claims of the democrats and Obama’s ties to ACORN;
(www.americanthinker.com/blog/2008/05/obamas_ties_to_ac
orn_more_subs.html)
And that’s my opinion,

Don