October 12, 2008

FROM AMERICAPANIC: Here's John McCain, running as a Communist now, and his great idea to use your money to discount the mortgages of gamblers

Call it what it is.


McCain wants to use $300 billion to "put a floor under home prices", buying mortgages at the face value and letting gamblers (and their lender) enjoy the new lower market price. Obviously not understanding what contracts are, what the free market is, or that high home prices were and are the problem, not the solution.

What an idiot, my friends. What an idiot.

And I have no idea what's happened to John McCain. I think he's truly lost his mind. Because he sure has lost his way. How anyone even in the GOP can support this guy any longer shows you how clueless that crowd must be.

I've never seen a more desperate candidate for president in my life. It's amazing what desperation does to a man. He'll sell the last thing he has left. His soul.


keith said...

And here's Obama's response to this McCain brain fart


keith said...

And McCain's statement a few months ago:

"I've always been committed to the principle that it's not the duty of government to bail out and reward those who act irresponsibly, whether they're big banks or small borrowers," the Arizona senator told a group of small business owners in Santa Ananear Los Angeles.


Anonymous said...

Heaven help us.

Anonymous said...

So I should vote for Comrade Obama?

Anonymous said...

But his running mate is sooo hot... (except in the gray suit thing of the other day, that color is just not you dahlink. It makes you look old and washed out) :)

WTF1920 said...

This is why I'm not voting this year. Obama is probably no better.

There are no real choices.

Anonymous said...

Let houses plumment in value already!

Anonymous said...

Did he sell it outright, HELOC it or take out a reverse mortgage on it? Does it matter?

David said...

McCain is disgusting.

That craphead freak wants to use my HARD EARNED money to bail out flippers, over-extended folks living beyond their means, rich 20-something mortgage brokers driving Mercedes, and Mozilo and co.

The GOP has officially sold out. To hell with them.

Thanks GOP for turning fiscal conservatives to Obama.

Ron Paul was my guy anyway. Too bad he's not a sellout whore like everyone else who moves to the front.

sundry vermin said...

And you think Acorn Hussein doesn't have the same ideas?

You can't really be that stupid can you?

From recent Tom Friedman article;

>The government’s job — which it is still trying to figure out exactly how to do — will be to provide a safety net of guarantees for the surviving banks, so they will be honest about pricing their assets, and then, once they have been, to help recapitalize them.


The McCain plan does exactly this, he mentions RE-VALUING affected mortgages lower, but providing security. So what is Acorns plan, does he have one?

Batman said...

Notice how the Japan decade long grinding slow motion crash never let up? They never let the fundamental problems be fixed. McSame wants to copy that in the US.

Anonymous said...

McCain is dead but with that stiff Frankenstein back and shoulders of his he just won't fall over.

John "George Wallace" McCain.

Has a nice ring don't you think?


JL in Miami said...

I am voting OBAMA. Case closed

I was undecided but Obama said something that opened my mind: ERRATIC.

No way, we need less capitalism and more socialism.

We need to balance the whole things. This as titled way out of control.

AlE34 said...

I sure as hell don't support the gambler bailout, but we already bailed out the banker gamblers with
$700B thanks to the dems. I guess holding the house prices up is socializing homes, which is still better than a communist America under hussein. The government shouldn't have stepped in, they are not the free market, but I would still vote to the lesser evil, which is McSame. The truth is out there just search for it, you'll see what hussein stands for Sheeple.


Lost Cause said...

Government ownership of all private property is the inevitable result. Like Nixon in China.

Anonymous said...

Nader in 2008.

Lets clean all the Conservatives out of government.

corvinus said...

I have said for months that McCain is a commie, but nobody believed me.


yoski said...

"He'll sell the last thing he has left. His soul."
McCain doesn't have a soul. He left that in Vietnam fire bombing civilians.

Anonymous said...

McCain sold his soul when he signed the letter in Vietnam denouncing the United States.

Anonymous said...

It isn't my money so I really don't care anyways.

went2puke said...

If this man is elected, they'd have to create a new executive seal in the White House that says: "Approved & Vetoed by the President."
My friends, McCain should be checked into a hospital to see if he's mentally fit to lead a Presidential campaign. If by a fluke he turns out to be fit, the GOP should then look for a new ticket-- a good way to rid America and the voters of the other half of the albatross: Sarah Palin!

Nick said...

No matter who wins, the next President and Congress will have to address this foreclosure crisis. I am a struggling homeowner who simply can not afford my payments. The government needs to give me a new mortgage that reflects the present day value, PLUS give me a ten percent equity/stake in my property and PLUS forgive my HELOC loans. Then and only then will our economy stabilize.

Anonymous said...

Bank Asks Clients to Pay Off Mortgages

Midsized lender RosEvroBank has asked clients to pay back their mortgages right away rather than risk the prospect of real estate prices falling 30 percent, the bank said on Friday.

"We are warning clients that they are in a crisis situation, that we are in this situation with them, and that both of us need to create a certain pillow of support," said Yelena Safyanova, the bank's head of communications.

With the credit crunch showing no signs of abating, many Russian companies from the largest conglomerates to the smallest retail chains have been taking desperate measures to raise cash.

Safyanova said her bank was in good financial shape and that it had recently paid back the first tranche due on a loan for $150 million.

But she said borrowers would be better off paying back their mortgages now, as their financial well-being could quickly deteriorate given the present state of the economy.


Anonymous said...

Is Peter Schiff saying that G7 plan is not going to work


Despite the myriad of proposals that are coming from Washington and other world capitals, we must understand that this crisis cannot be cured by governments. In the United States, credit is gone because savings are gone.

Our shallow pool of savings has been depleted through bad loans, and we can no longer entice foreigners to lend us their available savings.

Given that we are already too loaded up on existing debt they we cannot realistically repay, who can blame them for not wanting to lend us more?

The sad reality is that we borrowed and spent our way into this crisis, and we are not going to borrow and spend our way out of it.

Legitimate credit can only be supplied if there are genuine savings to finance it.

Savings can't be magically concocted into existence by a printing press, but can only be created by consumers who spend less than they earn.

Efforts to fool the market will not work and will ultimately lead to a monetary disaster and runaway inflation.

Were the government to allow market forces to work, Americans would now have to pay cash for their consumption.

That would mean no instant credit for new cars, plasma TVs, appliances, consumer electronics, clothing, furniture, etc.

Unless buyers actually had the cash in their checking accounts these purchases would have to be deferred.

k.w. - Southern Ca. said...

The only reason I can see remaining supporters still backing McCain, is that they stand to benefit by his policies - regardless of how destructive they may be to the economy as a whole - again, self-interest gets in the way of more rational decision making.

Neither candidate is fit though to lead this country, and under Obama it just may take a little longer to completely tank, but the end result is the same - mass poverty.

Anonymous said...

I can not believe this statement by Mr. McCain. But since we are giving borrowed bailout money to the banks then we might as well give it out to everyone else as well. One wonders if McCain is just saying anything to get elected and then be a true fiscal conservative once he gets in office. Obama promises healthcare but never talks about how much deductions from your paycheck will add up. Sure thing Obama is saying everything the majority wants to hear rather than his real Black Power Liberation Theology Agenda.

Anonymous said...

I see the credit crunch as a moral cleansing. I've been called a communist in 2005 for claiming it's wrong and self-indulgent to buy on credit property or luxury items you can't afford: if you haven't saved the cash, you can't have it! I warned my friends that the easy credit fiesta won't end well. And so it goes. Now the government is trying to sustain the fake way of "living large".

Welcome to the USA of the 21st century, where it's all fake.

1. The wealth and high standard of living fake: how come families with $80,000 income could afford houses for $800,000 in 2005?
2. The health is fake! Big Pharma constantly pushes new drugs and vaccines that don't work. Big Pharma is not health driven; it's profit driven!
3. The food is fake. Just look at the ingredients label on any processed food item: enriched bleached flour, high-fructose corn syrup, artificial flavor and color. One can find far superior food even in places like Eastern Europe.
4. The government is fake. It's not a government, but an enabler of greed, stupidity, and corruption.
5. The "growth" is fake: it's not growth but a malignant tumor. Who decided that increased consumption of goods from China and the housing bubble are growth?
6. Hell, the goddamn houses are fake. They used to be built of bricks and mortar and concrete. Now they're built out of plywood and sheetrock and cheap stucco.
7. The currency is fake. And all the hyperinflation created recently will be felt painfully sooner or later. Inflation precedes rising prices, not the opposite, remember?






PS: May the fake US economy burn in hell!

Anonymous said...

There is one cardinal point being missed in this debate. There is a large group of renters, many of them young American's (your Son's and Daughters) just getting started that have been holding out for affordable housing over the last few years waiting for this bubble to pop. If the government intervenes and props up home prices, these people (my self included) will be left out of the American dream even though they had nothing to do with creating this mess.

The only alternative for these kids will be to buy houses they can't afford. The two lessons from the older generations to their children and grandchildren will be 1) Financial irresponsibility 2) Selfishness do a degree that it ceases to be civilized..

Anonymous said...

"There is one cardinal point being missed in this debate. There is a large group of renters, many of them young American's (your Son's and Daughters) just getting started that have been holding out for affordable housing over the last few years waiting for this bubble to pop. If the government intervenes and props up home prices, these people (my self included) will be left out of the American dream even though they had nothing to do with creating this mess."

McCain, Obama, Democrats, & Republicans have ignored this very important point. Even worse, the MSM has completely ignored this either because the do not care or they are complete idiots!

Anonymous said...

Obama will do the same thing. If you think otherwise you are a fool.

Anonymous said...

McCain, Obama, Democrats, & Republicans have ignored this very important point. Even worse, the MSM has completely ignored this either because the do not care or they are complete idiots!

October 13, 2008 7:19 AM


Simple really:

1. 70% of people own. 30% rent. As a politician, which group will you pander to? No brainer.

2. I would bet 90% of the reporters in the MSM are owners. So of course they will spin the story from the owner point of view.

It may be unfair and morally wrong. But at the end of the day renters will get fucked hard when this is all said and done. Deal with it.

Anonymous said...

John McCain is a gambler. Really.

Coming from a family with a compulsive gambler father, son-in-law, and son (all gamble when under stress), let me tell you, I don't think we want one in the WH...

Anonymous said...

I'm glad Obama's the other candidate, but it would have been funny to see Hillary versus McCain. Two desperate career politicians who sold their soul to be president both tearing each other apart while they look around for the devil to keep up his end of the bargain. It would have gotten truly vicious.

Anonymous said...

He has completely gone off the deep end.

I agree with you - how the base can come out and rally around him when he suggests such liberal views is extremely confusing.