The Island of Logic

I am formally declaring Conservatism to be dead. After watching parts of the debate last night and seeing a Liberal Socialist debate a Big Government Leftist, I am slowly coming to the realization that the small, non-intrusive government championed by our founding fathers is dead. Our “right wing, conservative” candidates now are just big government leftists that will simply grow the size of government at a little slower rate than what a full blown liberal socialist will. John McCain proposed, in last night’s debate, that the government buy up all the bad sub-prime mortgages and renegotiate all sub-prime mortgages to the current value of the homes. The tax payers swallowing the difference of course. I had predicted, that with the bailout bill getting passed, that in two years we would see Democrats promising government sponsored affordable housing to everyone. Well, McCain outdid me, he is actually proposing it in this election cycle. We know the Liberals will have to one up this one, because they can’t have a “conservative” being more of a socialist then they are. Soon we will see proposals from both sides giving government mortgages to those that cannot qualify for mortgages from the private sector. Democrats will then start whining and crying about the poor people that are getting foreclosed on and evicted from their homes when they can’t even make payments on their government sponsored loans. Politicians will not want the negative press with the government evicting people from their homes, and will pass legislation that no one can be evicted by faulting on a mortgage. It is just a backdoor method of redistributing wealth and implementing socialism without ever calling it socialism. No one is talking about the real reason for the current crisis. Everybody says that it is a “lack of regulation” and not “enough government control” that is the cause of the current sub-prime mortgage crisis. I digress, it is actually to much government control and regulation that is the cause of the crisis. What lending institution in their right mind would have given mortgages to many of the current sub-prime mortgages holders? The answer is none, unless you conclude that all mortgage lenders really are insane. The reason that these lenders engaged in these seemingly insane lending practices was because of pressure from organizations like ACORN, the CRA (Community Reinvestment Act), and the Attorney General’s office. The activists group ACORN (Association of Community Organizations for Reform Now) pressures lending institutions into sub-prime mortgages through cries of racism and promises of lawsuits. The Community Reinvestment Act of 1977 (CRA), requires that the federal regulators of banks and thrifts encourage those institutions to meet the credit needs of the local communities in which they are chartered. The CRA directs the regulatory agencies to assess each institution’s record in meeting the credit needs of its entire community, including low- and moderate-income neighborhoods. Attorney General Janet Reno from the Clinton era said in reference to lending institutions accused of racism and bigotry “No loan is exempt, no bank is immune, For those who thumb their nose at us, I promise vigorous enforcement.” All of these liberal, socialist policies and practices have resulted in the current crisis, and to make matters worse Fannie Mae (Fannie Mae founded in 1938 as a part of FDR’s New Deal) and Freddie Mack bought out these bad sub-prime securities in order to pack their books. When all the sub-prime mortgage holders began to fault on these loans as anyone could have predicted, Fannie Mae and Freddia Mack took a nose dive. Now we as the tax payers are again stuck with bailing them out. Since conservatism is dead, there will be no proposals to completely privatize Fannie Mae and Freddie Mack (put them up for the highest bidder) and to eliminate the capital gains tax in order to encourage investment and bring the 13 – 15 trillion dollars in off shore investments back into our market. No, all we will see is plans for the government to grow larger and to take over more of the private sector; while the American people sit dumbly and watch it go by. The American people are incapable of stopping America from going down the current path, because 50 years of liberal indoctrination in our schools and media is finally paying off. Government is now the answer to everything, health care, housing, food stamps, welfare, etc. etc. American’s no longer need to be personally responsible, after all as Americans aren’t we entitled to everything even if we don’t work for it. The reason that socialism has never worked wherever it has been tried is because it takes away a very crucial part of the human experience, “incentive”. If people no longer need to work in order to get everything that they need, people will do exactly that, “no longer work”. The incentive of the American Dream has been the driving force behind our economy and ingenuity. When that goes away so does our way of life. Sorry for being so negative. I am not usually that way, but I see the writing on the wall.