A TRUE PERSPECTIVE ON THE HOUSING CRISIS
A video clip of a 9/24/08 Fox News story by Britt Hume and Bret Bajer, clearly shows President George W. Bush (you know, the guy who gets blamed for everything by the Obama Administration), Senator John (I’m not always a RINO) McCain, Treasury Secretary John Snow and Fed Chief Alan Greenspan, all warned the Congress that unbridled expansion and power within the Freddie Mac and Fannie Mae mortgage industries would lead to the housing crisis and meltdown disaster that America has been -- and continues -- living through.
We have been told that this video has been REMOVED from the United States version of YouTube as if we Americans were no better than the Chinese when the government needs to shut people up. At this point we do have the clip from a Canadian source and it is here for you to look at and digest.
One concept that I have yet to see discussed on any major network -- Fox or otherwise -- is just why people like Barney Frank and Chuck Shumer were so interested in promoting this financial nightmare. I have suggested from time to time that other than the usual Democratic Party approach of making more people dependent -- or at least more beholding -- to the government, are these rather simple facts of life in America.
(1) Government funds that are easily earmarked for certain geographical areas help build politically defined demographic regions of the country where Democrats have their strongest base, so why not expand or repopulate those neighborhoods?
(2) Americans don’t actually own any real estate. We have a Feudalistic system where -- with the exception of churches, schools and a some non-profits, EVERYONE must pay taxes to live on or in their own property. If we do not pay, we are evicted and our property is seized. In reality WE MERELY RENT from the government.
(3) Real estate taxes are the number one source of income for local municipalities and if that revenue stream was not in place, cities and towns would have to look to state and federal coffers for funds.
The bottom line for Barney and Chuck could be easily explained. The more people we get into houses, the more we can overcome that nasty little problem where half the people in the United States don’t pay income taxes. Tah, dah! More money for government to spend.
Take a look at the video and copy the link from your browser and share it with your friends.