Clinton Legacy NOT a “Tangled web,” but a Gordian Knot

            As we hear President Elect Trump saying, “I don’t want to hurt the Clinton’s” – implying that his administration will have little or no interest in prosecuting the former Secretary of State for her mass perjuries before the House Oversight Committee and lies before the American Public; her part in the play-for-pay Clinton slush fund/Foundation; and 23 violations of the nation’s Secrets Act . . . with up to 2,100 counts involved – it’s hard not to marvel at the level of corruption this one semi-dynastic family exhibited on the stage of the American body politic.

            Let us, however, like Alexander the Great when facing the challenge of the Gordian Knot (legend said that the person who could undo the taut and complex knot tied by Gordius would rule Asia), let’s us stick to basics.  Alexander quickly slipped his sword from its scabbard and slashed the infamous philosopher’s challenge into thirty limp pieces of 140-year old rope. 

Here is the one great crime that President Bill Clinton committed that no one recognizes.  From the bottom of p.517 and top of p. 518 this short paragraph in WJC’s autobiography My Life, tells America everything we citizens need to know about progressivism (confidence in big ever-expanding government funded by ever-growing taxes to be the be-all and end-all of all potential problems forever, AMEN!  However, since we the citizens are coming to realize that government is the agency with the stick, whip and gun and not the carrot, most of us worship at the church of “Government is NOT the solution, government is the problem” (Ronald Reagan).  Here’s what Slick-Willy Clinton had to say in his book published in 2004:

“One of the most effective things we did was to reform the regulations governing financial institutions under the 1977 Community Reinvestment Act (CRA’77).  The law required federally insured lenders to make an extra effort to give loans to low- and modest-income borrowers, but before 1993 it had never had much impact.  After the changes we made, between 1993 and 2000 (sic:  January 2001 = 8 years in office), banks would offer more than $800 billion in home mortgage, small-business, and community development loans to borrowers covered by the law, a staggering figure that amounted to well over 90 percent of all the loans made in the 23- (sic: 24-) year history of the Community Reinvestment Act.”

                It’s truly a shocking thing that virtually no one in America understands what you just read.  Bill Clinton is not just confessing about creating the Great Fiscal Meltdown of 2007 – present; oh no, he is actually bragging about it.  He assumes that the reader of his autobiography will be too stupid to check out the full impact of the facts he’s given and will instead merely assume that Bill Clinton’s intentions were good and that’s all that matters.  There’s probably a 100-page expose on progressivism that could help explain it all, but let’s keep things simple, let’s slash our way through the Gordian Knot.

                These are the facts:

1)      The American mortgage-loan industry was not broken in January, 1977, when progressive President Jimmy Carter assumed office with a great majority of progressive Democrats and a few progressive Republicans joining him.  America had the highest private home ownership rate in the world by far (62-65%) depending upon the economy; and most telling of all the Suspect Loan Rate was a miniscule 0.24%.  The progressives who had just seen a great success in using the Cloward-Piven strategy to more than double the nation’s welfare rolls between 1969 and 1973 and send the economy and the stock market into a monster tailspin using something they called the NWRO (National Welfare Rights Organization) to create a crisis that bankrupted New York City and almost bankrupted New York State and every big city and big-city state in the country.

2)      They quickly realized that CRA’77 was a bit more challenging and set up Arkansas, Bill Clinton’s state as a test case with the Arkansas Community Organization for Reform Now (A.C.O.R.N.) under NWRO veteran Wade Rathke at the helm.  Arkansas was chosen because Hillary Clinton was a well-known Saul Alinsky disciple who’d written her college thesis praising the self-described “neo-Marxist” and his radical work in the inner cities.  Alinsky, author of 1946’s Reveille for Radicals and 1971’s Rules for Radicals had tried to turn his Chicago organization over to her before he died in 1971.  Hillary was also the wife of an up-and-coming young attractive Arkansas Lieutenant Governor William Jefferson Clinton.  With A.C.O.R.N.’s help he would become governor of Arkansas and stay in that role for 12 of the 14 years following the elections of 1978.

3)      By 1987 with A.C.O.R.N. only active in one state, Arkansas, the American Suspect Loan Rate had more than doubled to 0.51%.  CRA’77 loans could be had for as little as 3% down!  A.C.O.R.N. now changed its name to the Association of Community Organizations for Reform Now and went active in all 50 states.  The push to get totally unqualified loan applicants into expensive new homes was fully underway . . . .

4)      Bill Clinton made three expansions of CRA’77 in the first four year term:  by presidential executive order in 1993; and twice by passing legislation both times in 1995.  By 1997, A.C.O.R.N.’s hard work (Community Organizer Barack Obama, by the way, was an A.C.O.R.N. attorney shaking down banks in Chicago) was starting to pay off . . . the nation’s Suspect Loan Rate now stood at 14.1%  (almost one in every seven home loans was so unsound it was virtually guaranteed to go into foreclosure).  CRA’77 loans were available to virtually any unqualified applicant who wanted one, who was able to fork over 2% as a down payment.

5)      During the height of the Monica Lewinsky scandal in 1998, Bill Clinton took time off to pass his fourth expansion of CRA’77.  This steroid-version expansion of CRA’77 forced loan companies to grant home loans to people without jobs; people with the most horrific credit ratings; people whose only “income” was food stamps; felons; tourists; and even illegal immigrants to receive loans for $225,000 – $480,000 homes. And it seemed that everyone buying a home was seeing its appraised value jumping skyward.  The Construction Industry Bubble and Sub-Prime Lending Bubble were dominating the news.  All these loans were being offered at 3% and lower down payments and many were executed with 0% down payment.

6)      Meanwhile in Texas, new Governor George W. Bush was passing a state law requiring a minimum down payment of 20%.  Later when he became president he struggled for over five years to pass a law repealing all of CRA’77.  Texas and Utah were the only states during the following dozen years that kept producing jobs and balanced budgets.  Everyone else was in the red.

7)      In mid-July 2005, G.W. Bush passed a too-little, too-late watered-down version of his effort to repeal CRA’77.  Much of the law is still on the books today . . . but that’s all he could get done.

8)      In 2007, the nation and the world (mortgage entities with perhaps 22,000 loans “bundled” together had been popular investments for some 29+ years now . . . after all, who doesn’t pay their mortgage?) this time, however, the investors were buying dog-crap paper wrapped in cat-crap paper.  There was no value in any of them.  Why?  Because the nation’s Suspect Loan Rates had reached 34.2%.  More than 1 in every three home loans was logically-doomed to end in foreclosure making virtually all the bonds worthless.  Iceland went bankrupt; Italy, Greece, Ireland, Spain, Portugal and Hungary were teetering on the brink.  In America, $5 million was lost during the stock market drop; 39.6% of all home value was lost putting even most long-term owners “upside-down” on their mortgages.  In a 2010 speech Treasury Secretary Tim Geithner who served under both President G.W. Bush and President Obama credited Bush’s passage of an anti-CRA’77 Act back in 2005 as “saving the nation” from even worse consequences.  Nevertheless 8.4 million jobs were lost and immense misery was endured around the globe.

So logically, for his part in Arkansas’s A.C.O.R.N. corruption; and in the nation’s A.C.O.R.N. collapse; and especially for his 1998 Steroid-Version Expansion of CRA’77:  Bill Clinton deserves even more “credit” than the 90% he claims in his autobiography, a full 99.5% of the credit/blame for creating the 2007 Great Fiscal Meltdown of the world’s economies.

Ya’all live long, strong and ornery,

Rajjpuut

          One of the most common and frustrating complaints of fiscal-conservatives and Constitutional-conservatives is watching what a terribly inadequate job so-called conservative leaders do in articulating the nature of the mess in Washington and in putting the standard of truth forth against the never-ending progressive lies and distortions.  Recently, a nearby (Westminster, CO) weekly ran a letter to the editor dissing Mitt Romney and supporting Barack Obama in the form of a godawful parable about country life and muddy roads.  Here's the letter I wrote in response and expect to appear in the Westminster Window this Feb. 15th.

    Letter-to-editor writer Rich Stewart’s quaint (1/26) story imitated the approach of a Nazarene parablist (circa 33 A.D.) while attempting to discredit Republican presidential candidate Mitt Romney.  I am NOT a Romney supporter but totally DISrespect near-totalitarian big-government-deluded social-engineer Barack Obama. 

    A parable’s power lies in telling a simple story with universal application easy for ordinary folks to hear.  Mr. Stewart’s story missed the standard of simple-profundity badly because his parable lacked an underlying true analogy. 

              “Once a preacher named Obama drove a Deeeconomy SUV. Obama blamed the previous preacher because Deeeconomy was in the ditch all the time.  One day, however, we saw him deliberately drive into the ditch.  Then his principle supporter, Progreh Sivdemocrat got several thousand bags full of $100 bills and using them as kitty litter hoped to change things by providing traction for the preacher’s SUV.  Progreh Sivdemocrat’s big tractor got stuck and it took five hours, several other tractors, and a passel of farmers with hip boots, shovels and planks to free everyone.  Meanwhile the money flowed downriver and was eventually used by a blind friend of Preacher Obama as kindling for his fireplace."

    Translation:  in 1977, President Carter and his progressive congress passed CRA’77 aiming to give a private home to everyone, whether they could afford it or not.  Progressive president Clinton and ACORN helped expand CRA’77 four times (three times legislatively) so that 1977’s 0.24% suspect home loan rate expanded to 2007’s devastating 34.2% suspect loans many at 0% down payment to people without jobs or credit whose only “income” was food stamps  -- even to illegal aliens.  By the way, in fairness: one of the “stuck tractors” belonged to George H. W. Bush who won 45 of his 46 vetoes but did not veto the first expansion of CRA’77 in 1992.

    One more thing:  in 1930 it took a total of 57 seconds worth of work for the average American to pay off all his local, state and federal income taxes.  Today that average American works 99 days before he's free of income taxation; which doesn't include a host of other taxes including 7+% for state sales tax and huge gasoline taxes as well.

Ya'all live long, strong and ornery,

Rajjpuut

This is from Personal Liberty;

Moe, Larry And Curly Bernanke

WWW.FEDERALRESERVE.GOV

Federal Reserve Chairman Ben Bernanke said he wanted inflation. He got his wish. Now the question is: Is it getting out of hand?

In the 1940 short film “A Plumbing We Will Go,” The Three Stooges pose as plumbers trying to stop a leaky pipe in a large home while a party is going on.

Since they know nothing about plumbing, it isn’t long before the boys have connected the water pipes to a conduit and water is pouring out everywhere. Of course, the party is ruined and the house is wrecked.

Federal Reserve Chairman Ben Bernanke is Moe, Larry and Curly all rolled into one, and his efforts to stop the leaky economy have been as successful as the boys’ efforts were in fixing the dripping pipe. Bernanke’s latest effort of quantitative easing — known as QE2 — is running out, and the bubble he created is deflating faster than one of the Stooges’ helium-filled cakes.

Last week, a Chinese ratings house accused the United States of defaulting on its massive debt by allowing the dollar to weaken against other currencies — eroding the wealth of its creditors, the biggest of which is China.

China holds $1.145 trillion of U.S. Treasury securities. That is down from its peak of $1.175 trillion in October, according to a story by the AFP news service.

China, the No. 1 holder of U.S. debt, is now a seller of U.S. Treasuries. Japan, the second largest holder of U.S. Treasuries, may soon be a seller as well. It needs money to repair infrastructure following this year’s earthquake and tsunami.

The stock market was down six weeks in a row before last week, when it finally finished a week on an up note. According to The Economic Collapse blog, that hasn’t happened since the dotcom bubble burst in May 2001.

The false euphoria created by QE2, which propped up Bernanke’s Wall Street buddies by driving money into the market, has worn off. Investors realize this, and they are looking for new places to put their money.

Meanwhile, once again, John and Jane American are watching their meager retirement funds dry up. Unemployment is up (the true unemployment rate, which includes discouraged workers, is 22.3 percent, according to the National Inflation Association), manufacturing and consumer confidence are down and one in seven Americans is on food stamps. Millions of Americans receive some sort of government assistance.

The price of everything is increasing. According to NIA: “90% of sporting goods manufacturers have seen their input costs rise substantially this year and 41% of them have already announced major price increases for athletic apparel, footwear, and sports equipment. As the 8,000 toy manufacturers in China are forced to raise the wages they pay their employees, Toys R’ Us is now beginning to see major wholesale price increases for their products, which they will have to pass on to U.S. consumers. Hasbro recently raised prices on all of their products by 6% to 7%. Mattel recently imposed an across the board high single digit price increase after reporting a 33% decline in quarterly profits (despite sales surging by 8%) due to skyrocketing raw material costs.”

May sales reflected what consumers thought of the rising prices. Retail sales fell for the first time in 11 months. The drop in sales hit autos, electronics, appliances, furniture, groceries, sports retailers and department stores.

Bernanke said he wanted inflation. He got his wish. Now the question is: Is it getting out of hand?

Go here to read the rest of the article;

http://www.personalliberty.com/conservative-politics/government/moe...

George Bush saw Obama, Clinton, ACORN, and other progressives deliberately pushing the car (the economy) toward a 500-foot cliff (utter financial disaster) dived into the front seat, grabbed the steering wheel and slammed on the brakes creating a controlled skid that put the vehicle into the nearest friendly-looking ditch.

“President G.W. Bush warned congress at least 20 times about the problem after January, 2005, when his administration made their first attempt to undo the evils of CRA legislation, especially the last three expansions by Clinton (1995 twice and 1998’s steroid version), but were defeated by the progressives. Finally thirty months later in July of 2007 a much weaker, watered down bill was passed by bi-partisan vote. It would prove far too little, far too late and the meltdown began soon afterward. However, it was sufficient help to the economy that Treasury Secretary Geithner in August, 2010, credited Bush with preventing a truly deep recession and preventing home prices from plummeting dangerously.” Rajjpuut