Wasting Time With Alex

Wednesday, February 27, 2008

Economic slight of hand in an election year

I have been avoiding any commentary about the whole mortgage crisis thing because like billionaire investor Sam Zell I know this is nothing but the MSM doing propaganda for the left. This crap happens every damn election cycle. The MSM cronies of the DNC start complaining of a “bad economy”, “disaster & recession”, and the usual whine fest of how evil republicans are making us all poor. Of course if a democrat wins the election the financial/economic news the day after that is that all suddenly is turning for the better. Don’t take my word for it. Just look at the 1992 election cycle news for economic news. Remember the saying “It’s the economy stupid”? Well the fact was that the economy was doing quite well and bouncing back from a slight negative bump long before the election, but the MSM kept harping about how we were all doomed. That is they kept saying that the sky was falling until Bill Clinton won, and suddenly all was not just well, but awesome. These days the MSM is back to the same crap. Bad economic news for some inexplicable reason favors democrats. This is nothing but election year shenanigans by the DNC propaganda machine: the MSM.  Here are Sam Zell’s own words:

Speaking on “Squawk Box” this morning, Zell attributed much of the current economic troubles to fear-mongering and politicking by Democratic presidential contenders Hillary Rodham Clinton and Barack Obama.

“Obviously what we have going on is an attempt to create a self-fulfilling prophecy,” said Zell, chairman of Equity Investments Group and owner of the Chicago Cubs, Chicago Tribune, Los Angeles Times and other companies. “We have two Democratic candidates who are vying with each other to describe the economic situation worse.

“The reality is that if you live on Wall Street and you’re in the credit markets the world couldn’t be worse. If you’re a farmer and you’re getting $25 for your wheat, you’re having a great time. If you’re a CEO and you’ve got a balance sheet that’s bullet-proof, you’re in a great position. This whole thing is way out of control, way out of hand.”

Zell said that although he doesn’t try to pick bottoms in markets he believes housing has hit its nadir and will turn around this spring as inventory clears out.

Now don’t get me wrong. The whole housing thing has pissed me off beyond belief. For one thing, the usual socialist scum in government are back at it trying to buy votes with the tax dollars paid by the productive. Does anyone else see how this government bail out of people that have made horrible choices, often on purpose and likely criminal, is rewarding bad behavior? If you lie about your income, buy a house that is far beyond your means, settle for a variable rate mortgage, and then end up screwed when fortune’s change, why should I help you keep your house? Sure there are some people that are real victims of the times, but the majority of the people with issues are directly responsible for being where they are. And instead of letting them pay for their bad choices and likely criminal activity, government wants to help them out with the money of those that did the right things. Scandalous!

And this trend is everywhere. Come to America illegally? Hey no problemo! We will give you a fast track to citizenship while those that do t he right thing languish in an INS hell for a decade. You are popping out babies as an unwed teenager and dropping out of school? Heck, we will pay you for that bad behavior! It’s about the poor child after all (and keeping that child poor and voting for democrats). You are a regular loser because of bad choices? Not to worry! Uncle Sam will give you a free lunch as long as you keep the right politicians in charge. You committed crimes? Even killed people? Do not worry! The legal & penal system will do all it can to help you stay around and do it again. The victim? Ah, screw them. Especially if they are dead anyway. And the list goes on. If you do something stupid or bad, government is there to bail you out. Do the right things and they line up to take away as much as they can for you. Of course, to help the others that have not been as “fortunate” as you. It seems that the more stupid and bad things you do, the bigger the handouts get.

And that’s why our economy is in bad shape. Well it really is not, but the DNC propaganda arm, the MSM, is going to keep harping on that until their guy wins the election. Hey, maybe that’s the “Change & Hope” Barak Hussein Obama is preaching about. I am sure Hillary would be saying the same, but she has been to busy trying to figure out how to go at Obama without violating the PC identity politics the left prides itself on so much. May this crap drag out until far after both the Democratic convention and this year’s election. Oh yeah. If you have cash buy stocks. This is the time to do so.