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Oct. 9, 2008 With the financial situation the way it is maybe it would be a good idea to let the democrats have not only both houses but also the presidency. The sub prime mortgage induced collapse of the major banks was a consequence of the age old democratic urge to make the Great Society a fact, which despite the billions poured into it since the presidency of Lyndon Johnson has produced absolutely nothing. The crude attempt to better the lot of minorities by government regulation encouraging idiotic loans to the insolvent through Fanny May and Freddie Mack is destabilizing the US financial world. The rot has spread to the rest of the world as they have bought up the US debt on these mortages.Barrack Obama will be called upon to solve an intricate financial mess which I think is a thing beyond his expertise. It is also probably beyond that of most of the Republicans .It is best for them if they just ride the thing out .By the time Obama‘s term is up his name is going to be a hated word .With the House and Senate in the hands of the Democrats it is going to be hard for him to weasel his way out of being labelled the man most responsible for the decline of the US as major world power. We are entering into a new economic era where nations fight in a sea of possible bank collapse, those creating trust in their banks taking the savings of those who engender mistrust. Ireland seems to have set the stage by guaranteeing deposits in its banks. This could put her in the position of being a new Switzerland .Belgium has brought up one of her banks. Britain is in the fortunate position of having as her Prime Minister Gordon Brown who , through his brilliant managing of Britain’s finances as Tony Blair’s finance minister ,was responsible for keeping him in office for twelve years. He has now in effect nationalized a number of Britain’s financial institutions more or less saying that they are now backed by the British government .The US with its abhorrence of any government interference in its banking instruction is hardly going to follow suit. I predict that at the end of this it will lose its position as leader of the world as money flows into banks garnering the greatest trust.
The democrats are now seen to be on a permanent zany mode .Since the presidency of Bill Clinton the US has come more and more to resemble a comedy routine and I predict the presidency of Obama is going to be one of the funniest acts yet in this age of never ending US political comedy.
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