Free Markets, Free People

What was Einstein’s definition of “insanity”?

Oh yeah, “doing the same thing over and over again and expecting different results”.

Today’s example, via the usual suspects, just boggles the mind:

The Obama administration is engaged in a broad push to make more home loans available to people with weaker credit, an effort that officials say will help power the economic recovery but that skeptics say could open the door to the risky lending that caused the housing crash in the first place.

President Obama’s economic advisers and outside experts say the nation’s much-celebrated housing rebound is leaving too many people behind, including young people looking to buy their first homes and individuals with credit records weakened by the recession.

In response, administration officials say they are working to get banks to lend to a wider range of borrowers by taking advantage of taxpayer-backed programs — including those offered by the Federal Housing Administration — that insure home loans against default.

This is just, frankly, incredible in its stupidity.  We’ve been here, done this and suffered the consequences in terms of a financial meltdown and an economy that seems to be in permanent “recession”.  We’d have the T-shirt too, but they took it off our backs.

Consider the administration’s solution to the perception that we’re “leaving too many people behind:  Let’s do again what was a major contributor to the last melt down.  No prob.  They’ll just blame the banks and the “market”.  The result: more people “left behind”.

I mean, it hasn’t even been a decade yet.  We’re not even doing this with a new administration.  These are, for the most part, the same people who crashed it last time.

Why is it that “leaving too many people behind” is the priority, when in the past those who were supposedly left behind, found some way in the future to catch up?  Why is it government’s job to “insure” risky loans because of that feel-good claptrap?

Because we’re freakin nuts, that’s why.  We’re bound and determined to ruin this country based on an ideology that plays to “feelings” and “emotions” rather than good common sense, the laws of economics and freedom and libery.  That’s why.

This is tar and feathers worthy, yet we’ll sit around like lumps while a majority claims it’s a “good idea” because it is “only fair”.

“Fair”.  The word that will – is – ruining this country.

~McQ

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20 Responses to What was Einstein’s definition of “insanity”?

  • “the nation’s much-celebrated housing rebound”
     
    The much what?   Well, they DO tend to celebrate a lot at this White House, boosting the vacation economy while the Secret Service helps out hookers world wide.

  • Its smart if you want to get some economy going before 2014.  And if you’re out by 2016, good chance it probably won’t crap out by then.

    Basically throw the future under the bus for short term gain today.  What’s not to love. 

    Watch the Republican leadership line up to support this. 

  • “Once more into the breech, dear friends!” If there is one thing that I can say is consistent with the Obama Administration and that is they have absolutely no understanding of history at all!!!   And I laugh when I remember comments from others that have stated that Obama considers himself “the smartest man in the room”.  The room must be a closet, and a small one at that.

    • Whenever I hear that statement it brings to mind the punchline from the old Scouting joke –
      “It’s okay, there’s still two parachutes left because the smartest man in the world just jumped out of the plane with my knapsack.”

  • This is just, frankly, incredible in its stupidity.

    As I’ve noted several times before, this IS incredible AS stupidity.  That is, it cannot credibly be mere stupidity.
    I concluded long ago this is design.

    • I used to wonder about that, and I don’t any more.  NO ONE can actually be this out of touch and stupid at that level.
       
      Unless of course we have Chance the Gardener for President now.

      • The law of averages would dictate that an idiot decision-maker would SOMETIMES do something beneficial.
        You could throw darts, give an elephant a paintbrush…whatever…and you’d HAVE to get a good selection from a choice matrix.

  • Isn’t there a provision in ObamaCare where home sales pay a 3-4% tax to help fund the ‘program?’

  • This fits in nicely with my let it burn platform.

  • http://washingtonexaminer.com/obamacare-to-pay-navigators-20-to-48-an-hour-provide-free-translators/article/2526167
     
    Gee, who could have EVER predicted THAT would happen?   Why, certainly not a bunch of dead end last century sterile inbred military types  about half a month ago.
    All part of the Jobs plan that Big Ears was going to direct his laser like focus on I suppose.
     
     

    • “Translators” fluent in gobbledegook…!!!
      I won’t need any “navigation”.  I’m not conforming.

      • In other things no one could predict would happen –
        healthcare coverage seems to be costing more under the Obamacare miracle
        or
        reports say the number of illegal immigrants (sorry, undocumented democrats) sneaking over the border has doubled since they started talking about granting amnesty
         
        The list goes on and on, Lord help us if this guy ever comes out certainly and clearly (between the uh’s that must be on the teleprompter) and tells us the US will last a thousand years.
         
         

    • I was dumb enough two weeks ago to ask if it could happen again! In the immortal words of Yogi Berra: “It’s like deja vu all over again!”

    • :)
       
      The best I can do without a like button!

  • Did anyone notice the photo is centered on the teleprompter?
    That is at the WaPo – not Fox News or Drudge.
    My guess is they want to goose the economy for 2014 and maybe all the way to 2016.
    I will say that due to Dodd-Frank, bank lending has been curtailed pretty well, and we probably would like money creation to come from banks than from Bernanke, but even then this is like the State pulling the lever back and forth “too hot! too cold!”

  • In the 90s, Bubba Klintoon said we needed more welfare spending to balance those who were not partaking in the new, tech-boom economy.
     
    Naturally, those were the folks, usually Democrats lower-level constituents, who couldn’t be bothered to GET computer skills.
     
    Of course, when they did finally get the skills, they used those skills to surf porn sites and hard left websites. They didn’t learn the technology, just enough to get by and surf the web.

  • In other news, the Obama administration issued a new order that will increase across the board vehicle efficiency by 10%.  Starting June 1st, the mile will be reduced from 5280 feet to 4800 feet.  Administration officials say this new executive order will save Americans millions is reduced fuel costs that will have a huge rippling and positive effect across the economy.

  • No, no, no. Bambi is NOT expecting different results. He Wants financial collapse into the loving arms of Total Government.
    His Master Thesis, the one the Malfeasant Media are falling all over themselves to keep hidden, is on The Cloward – Piven Strategy.
    Saying Barry is stupid is a false narrative, he’s not stupid, he knows exactly what he’s is doing.
    it’s the alligator of unexpected consequences that’s hovering to bite him in the ass, he doesn’t see.