I'm worried and you should be too :(

[mrfuni]

Interesting take on where our country is heading...

http://www.usawakeup.org/USSA.htm

[dantama]

I tend to shy away from Propaganda stories. A fair and balanced laying of blame would include a whole lot of both parties, not just one.

It seems almost unbelievable that Republicans would have the white house and congress for 6 of the last 8 years, but place the entire blame of a long standing problem on just the last two years.

I like to watch clips and stories that get posted here, but when something is so slanted that all the blame is with only one party, and the other is completely innocent, I know I'm watching fear mongering.

Here's what the New York Times has to say about some of the claims.

But you can hardly pick up a newspaper or turn on the television these days without hearing critics argue that the act created the current mess we’re in by forcing banks to lend to people in poor areas who were bad credit risks. Representative Steve King of Iowa has introduced legislation that would repeal the act.

The charges do not hold up. First, how could a 30-plus-year-old law be responsible for a crisis that has occurred only in recent years? Then there’s the fact that the regulatory guidance issued under the reinvestment act and other banking laws actually impose restraints on the riskiest kinds of subprime lending.

In addition, subprime lending was not driven by banks, which are covered by the act. Rather, most subprime lending was driven by independent mortgage lending companies, which the act does not cover, and, to a lesser extent, by bank affiliates and subsidiaries that are not fully covered by the act. By some estimates, nonbank lenders and bank affiliates and subsidiaries may have originated 75 percent or more of the riskiest subprime loans.

A study released this week by the Center for Community Capital at the University of North Carolina in Chapel Hill shows that people of similar financial profiles were three to five times more likely to default when they received high-priced subprime mortgages than when they got bank loans made under the Community Reinvestment Act.

[dantama]

This part was so out of reality that I had to call BS on.

It claims that Obama will cause this to happen ....."This in turn will create two classes, the ruling elitist and the lower working class."

What?!!!! As if that hasn't already been the case. It's only going to happen under Obama?

Here's the real story, and any educated person would already know it and feel silly saying otherwise, (not Joe, the maker of the clip) unless they were wanting to make total propaganda that should be laughable in its absurdity.
__________________________________________________ _____________________

In the United States, in the last survey year, 1998, the richest 1 percent of households owned 38 percent of all wealth.

the top 5 percent had more wealth than the remaining 95 percent of the population, collectively.

__________________________________________________ ______________________

So Obama is going to "create two classes, the ruling elitist and the lower working class."

As if 5 percent of our population owning 95 percent of the wealth isn't already a two class system of elitists and a lower class. But we can blame it all on Obama if he's elected.

The French were smart enough to rebel at such a system and make things right.

[dantama]

BTW, I'd get just as ruffled if a Democrat came and made as crazy claims. I'm neither party.

I voted for a republican just today.

[mrfuni]

Thanks Dan, I knew you would reply :) ...

I just ticks me off that the wealth that I created for myself through my hard work and sacrifices is going to be "redistributed" to others who live for today, take handouts from the government, and don't care to work hard to enjoy the better things in life.

Maybe that video was a little over the edge, be the message is clear.

For that, I am scared. :(

Joe

[dantama]

I enjoy your reasonable responses to being disagreed with Joe, thanks.

[ridemslow]

Interesting, and I will be sharing this with a lot of folks.

[ponch]

Try a little humor: http://www.the-right-guy.com/SubPrime.mp4