Wednesday, April 3, 2013

BloggeRhythms 3/3/2013

I intended to remark on a column today headed “Parts of ObamaCare are starting to fray, even before full implementation.” 
 
Written by Jim Angle of Fox News.com, his information adds to my growing list of evidence that Obamacare’s imploding. However, before beginning typing, I scanned the rest of the news and had to re-read a link on Drudge four times before I believed it. Because I thought, perhaps, April Fool’s came two days late.
 
I soon found out it wasn’t a joke and that Zachary A. Goldfarb of The Washington Post on-line, actually reported that the “Obama administration pushes banks to make home loans to people with weaker credit.”
 
Apparently, “The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.
 
President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.”
 
Now, after reading the preceding, I thought back to my entry of only two days ago in which I stated that a critical concern for lenders is reviewing the history of customer performance in the past. And, in regard to home mortgages, lending to weak applicants caused the global fiscal crash we’re still working out of, eight years later. Consequently, I don’t even have words to describe the gross absence of intelligence or knowledge of those who’d willingly repeat that horrendous mistake.
 
But then I read on, and the picture got even worse. 
 
Because, in response, “administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.”
 
So, what these moronic clowns are actually saying is that they’re not worried about sub-standard mortgagees defaulting because taxpayers will bail them out. 
 
Now, on the surface, while the premise is totally wrong because as we all know, lenders are still dealing with the huge portfolios of defaulted loans, foreclosures and glut of overpriced homes on the market with owners buried in debt, what’s worse is that the government's pushing for socialism in a democracy and using this issue as another attempt to redistribute wealth.   
 
In the end though, as blatantly arrogant as the mortgage idea is, there’s still growing light at the end of the tunnel, as evidenced by my original subject for today. Because, as noted, Obamacare continues to unravel for the fraud that it is.  
 
According to Mr. Angle of Fox, “The Obama administration now says a special system of exchanges designed to make it easier for small businesses to provide insurance will be delayed an entire year -- to 2015. 
 
Lots of small businesses struggle with providing insurance for their workers so this was supposed to facilitate it and make it easier for small business to do this," said Jim Capretta of the Ethics and Public Policy Center. "It was a huge portion of the sales job. When they passed the law in 2010 there were many senators and members of Congress who were saying 'I am doing this because it's going to help small businesses.'"
 
So, here we have another attempt at socialism in the process of imploding and harming those it was sold to as beneficial, which will eventually come back to haunt those responsible. Which leads to some questions that I can’t ever find the answer for.
 
Why is it that theoreticians and believers in false causes are never dissuaded by facts? And what is is that drives people to keep walking into the same walls, over and over again despite reality? But, beyond all that, exactly how stupid do you really have to be to refuse to learn from your own mistakes?
 
That’s it for today folks.
 
Adios

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