Oh, goodie. Then they'll walk away from their houses.

And the result is this

http://www.ajc.com/news/atlanta/crowd-waiting-for-housing-589653.html

But of course, a better predictor is this

http://www.in.com/videos/watchvideo-happy-thanksgiving-wkrp-turkey-drop-2125525.html

Mike that was my first reaction lol
An unending stream of phoney money to prop up bums who can't pay for mansions.
Heck that will keep em in booze for a while.

Well, damn, what does this mean for me ? I still owe a $122,000 on my mortgage.

I'll bet the Chinese won't be to thrilled to hear that.

Some politicians have to do a lot of polling to determine their demographic; obozo already knows it's important to please people who bought houses they can't afford.

The financial crisis was a feature, not a bug. See this article from '08 for the role the FHA is playing in the sub-prime mortage scam.

And see this piece over at HotAir for the new rumors that AliBama will forgive underwater mortgages.

Mike @ 3:22: way to optimistic. They won't have to walk away cuz Obama, he gwine pay.

Two years. Hmmm. What's in two years? Oh, the 2012 presidential election. Hmmm.

"Obama's gonna pay for my Gas..."

...and he's gonna pay for my rent:

"Tens of thousands of people lined up at an East Point shopping center hoping to get housing assistance became unruly Wednesday morning with reports of fights breaking out in the crowd.

"An East Point police spokesman said the crowd numbered 30,000, some of whom waited for two days at the Tri-Cities Plaza shopping center. They were seeking applications for East Point Housing Authority vouchers to discount their rent..."

(...)

"Felecia McGhee told the AJC she arrived around 6:30 a.m. Wednesday. She said the major problem began when people started breaking into the line and then officials handing out applications started moving those areas and those line breakers. She said she saw at least two small children trampled when the crowd rushed the building where the applications were to be handed out.

"'It's a real mess out here,' she said.

"Channel 2 Action News reporter Mike Petchenik said fights were breaking out and police had to stop people who were storming the door..."

Polls are useless. Nobody with any brains left tells them anything. We now know how in cahoots they are with Political parties.
JMO

The 2008 sub-prime mess did not hurt the US economy enough... so Obama is launching another sub-zero-prime missile at it.

If you are familiar with the Cloward Piven strategy then this move by the Cloward Piven candidate( aka Obama ) is no surprise to you.

Oh I see. Not bankrupt enough.
So what does everyone think of the story from The Guardian, that marijuana sales are what's keeping Canada's nose above water?

"Wake up people, that's what we're up against" !!!

What ... lazy delusional Negroes? That's what we are up against? In part.

Negroes are only 12% of the US population. That's not enough to elect the Marxist twit Obama.

I think we are up against lazy Liberal white people who are drenched in guilt who no longer have any sense of who they used to be, or what they are about to become.

Used to be: Proud, self-reliant, prosperous, free.

To become (or already are): Ashamed, dependent, poor and definitely not free.

This happened in the last 30 or so years. It will take at least that long to turn it around and it will be painful. May not even be possible.

It's funny, I was thinking of Peggy Joseph just yesterday but in another context. One in that I think she expressed that euphoric sentiment in the video while under the impression that with Obama as president, reparations to African Americans were going to be sure thing.

Ok, so it's more interest free 'loans' to people who Obama (as an ACORN lawyer) helped secure the original mortgages that they had no way of paying because they had insufficient (or No) income and thereby starting the sub prime industry that has pretty much wiped out American finances for next next few decades at least. Yep, I agree. Give them even more money, er 'loans'. That'll solve everything.

Geez, this is so ridiculous that you couldn't even make it up. If Cloward an Piven are still on the green side of the lawn, they should rename their strategy "How to Destroy a Propserous Country in Just a Few Easy Steps" and then collect royalties from the Obama gang.

er, Prosperous...

Obama...2012

I did not say, aaaahhh, that I would pay your aaaahhh rent, I aaahhh said I would pay for your aaaahhhh tent.

Hey, you got printing presses and ink - you got money to burn right?

Interesting. Arizona not mentioned as getting any millions. Zero millions for the racist desert rats.

It's worse than all that. We've already seen a case history of what's to come with Sweden. After decades of huge government financial support for individuals, those who were net contributors of tax revenue became a shrinking group. Those who were net recipients became much larger in number and voted as a block. It's a key reason why Sweden elected at least three straight decades of socialist coalition governments. In effect, it becomes a self-perpetuating electoral machine when the rewards of not working exceed those of working at a minimum wage or even higher wages.

"We'll keep voting for you if you keep increasing the dole."

The same system was established in Greece after the overthrow of the colonels. The only thing which brings it to an end is the inability of the state to carry the sovereign debt which results, as we are now seeing in Greece. But it takes a dinosaur the size of a country a very long time to die of fiscal starvation.

To their credit, at least some of the European nations are waking up to the future economic crisis but it is not at all clear that the current US administration understands the future scale of the problem.

Or wants to. After all, if you keep expanding the size and benefits contributed by the state, your pool of voters grows at the expense of the political opposition. Elections are thus simply an exercise in who can bribe the most voters with other people's money. And the future fiscal crisis? Well, as I said, it takes a long time for a large fiscal dinosaur to die. The phrase Not In My Time In Office is fully applicable here.

Peggy Joseph's America exists only in some economic fantasy. Peggy will be miffed to hear 'the one' is about to 'redistribute' her fantasy entitlements to 30 million illegal aliens.

Can you see the war for entitlements looming? Helter skelter baby!

It's sickening, that's for sure.

But it's chicken feed compared to the hundreds of billions he's handing out to the Corporate scum bags who put him where he is.

Besides, the Blood Sucker Class will get most of it. Hardly any of this money will end up in the pockets of those who are supposedly in need of it.

All that white guilt sure is costing them! Pretty soon everyone will be poor in America.

I guess they forgot that most black Americans have been looking to stick it to the "crackers" - including their beloved President. So while some may have been laughing at Peggy at the time, she obviously knew what she was talking about.

Kind of reminds of the egalitarian policy in Canada known as Provincial Transfers.

Take from the ants and give to the grasshoppers.

"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years.

Great nations rise and fall. The people go from bondage to spiritual truth, to great courage, from courage to liberty, from liberty to abundance, from abundance to selfishness, from selfishness to complacency, from complacency to apathy, from apathy to dependence, from dependence back again to bondage."

attributed to Alexander Tytler 1747-1813

"The best argument against democracy is a five-minute conversation with the average voter."
-Winston Churchill

[quote]Can you see the war for entitlements looming? Helter skelter baby![/quote] Jim

Jim, most of the young folks have had an edited version of past history. The 50's race riots in Camden, NJ was between Hispanics & Blacks...issue "Jobs", enough said

Reed said it best! "Why would any Hispanic be a Republican"...That is like an animal trainer telling the monkeys to do as they are told or no bananas....

he he he he,

That video never gets old.

Says it all in a nutshell.

For those that don't see what's coming, to bad so sad for you. It will be bad for everyone to be sure, but those that buried their heads in the sand, will have it so much worse.

There is, in fact, no natural law that says that it is possible to govern 300 million people in harmony and prosperity and long term stability.

Stansberry: Detroit's socialist nightmare is America's future
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Thursday, October 29, 2009
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From Porter Stansberry in the S&A Digest:

One of the most important things to remember about socialism – or coercion of any kind – is it fails eventually because human beings have an innate desire for liberty and a strong need for personal property rights. In fact, the origins of government lie in the need of agricultural communities to protect themselves from violence and theft. So it is particularly ironic that in more recent times, it is government itself that has more frequently played the role of bandit. When you start taxing people at extreme rates to pay for socialist "benefits," when you start telling them which schools their children must attend, when you start giving jobs away to people based on race instead of ability... you quash human freedom, which bogs down productivity... and if continued for long enough, leads to social collapse.

I find it perplexing that only 20 years after the collapse of the Berlin Wall, the West continues to implement laws that mimic all of the failed policies of our former "communist" foes. In fact, our current president won the election by promising to "spread the wealth around." But... truth be told... we don't have to look to Eastern Europe or the Soviet Union to find a society destroyed by coercion, socialism, and the overreaching power of the State. We could just look at Detroit...

In 1961, the last Republican mayor of Detroit lost his re-election bid to a young, intelligent Democrat, with the overwhelming support of newly organized black voters. His name was Jerome Cavanagh. The incumbent was widely considered to be corrupt (and later served 10 years in prison for tax evasion). Cavanagh, a white man, pandered to poor underclass black voters. He marched with Martin Luther King down the streets of Detroit in 1963. (Of course, marching with King was the right thing to do... It's just Cavanagh's motives were political not moral.) He instated aggressive affirmative action policies at City Hall. And most critically, he greatly expanded the role of the government in Detroit, taking advantage of President Lyndon Johnson's "Model Cities Program" – the first great experiment in centralized urban planning.

Mayor Cavanagh was the only elected official to serve on Johnson's task force. And Detroit received widespread acclaim for its leadership in the program, which attempted to turn a nine-square-mile section of the city (with 134,000 inhabitants) into a "model city." More than $400 million was spent trying to turn inner cities into shining new monuments to government planning. In short, the feds and Democratic city mayors were soon telling people where to live, what to build, and what businesses to open or close. In return, the people received cash, training, education, and health care.

The Model Cities program was a disaster for Detroit. But it did accomplish its real goal: The creation of a state-supported, Democratic political power base. The program also resulted in much higher taxes – which were easy to pitch to poor voters who didn't have to pay them. Cavanagh pushed a new income tax through the state legislature and a "commuter tax" on city workers.

Unfortunately, as with all socialist programs, lots of folks simply don't like being told what to do. Lots of folks don't like being plundered by the government. They don't like losing their jobs because of their race.

In Detroit, they didn't like paying new, large taxes to fund a largely black and Democratic political hegemony. And so, in 1966, more than 22,000 middle- and upper-class residents moved out of the city.

But what about the poor? As my friend Doug Casey likes to say, in the War on Poverty, the poor lost the most. In July 1967, police attempted to break up a late-night party in the middle of the new "Model City." The scene turned into the worst race riot of the 1960s. The violence killed more than 40 people and left more than 5,000 people homeless. One of the first stores to be looted was the black-owned pharmacy. The largest black-owned clothing store in the city was also burned to the ground. Cavanagh did nothing to stop the riots, fearing a large police presence would make matters worse. Five days later, Johnson sent in two divisions of paratroopers to put down the insurrection. Over the next 18 months, an additional 140,000 upper- and middle-class residents – almost all of them white – left the city.

And so, you might rightfully ask... after five years of centralized planning, higher taxes, and a fleeing population, what did the government decide to do with its grand experiment, its "Model City"? You'll never guess....

Seeing it had accomplished nothing but failure, the government endeavored to do still more. The Model City program was expanded and enlarged by 1974's Community Development Block Grant Program. Here again, politicians would decide which groups (and even individuals) would receive state funds for various "renewal" schemes. Later, Big Business was brought into the fold. In exchange for various concessions, the Big Three automakers "gave" $488 million to the city for use in still more redevelopment schemes in the mid-1990s.

What happened? Even with all of their power and all of the money, centralized planners couldn't succeed with any of their plans. Nearly all of the upper and middle class left Detroit. The poor fled, too. The Model City area lost 63% of its population and 45% of its housing units from the inception of the program through 1990.

Even today, the crisis continues. At a recent auction of nearly 9,000 seized homes and lots, less than one-fifth of the available properties sold, even with bidding starting at $500. You literally can't give away most of the "Model City" areas today. The properties put up for sale last week represented an area the size of New York's Central Park. Total vacant land in Detroit now occupies an area the size of Boston – Detroit properties in foreclosure have more than tripled since 2007.

Every single mayor of Detroit since 1961 has been a Democrat. Every single mayor of Detroit since 1974 has been black. Detroit has been a major recipient of every major social program since the early 1960s and has received hundreds of billions of dollars in government grants, loans, and programs. We now have a black, Democrat president, who is promising to do to America as a whole what his political mentors have done to Detroit.

Those of you with a Democratic political affiliation may think what I've written above is biased or false. You may think what you like. But there is no way to argue that what the government has done to Detroit is anything but a horrendous crime. You may think what I've written above is merely a political analysis. Perhaps so, but politicians drive macroeconomic policy. And macroeconomic policy determines key financial metrics, like the trade-weighted value of a currency and key interest rates.

The likelihood America will become a giant Detroit is growing – rapidly. Politicians now control the banking sector, most of the manufacturing sector (including autos), a large amount of media, and are threatening to take over health care and the production of electricity (via cap and trade rules). These are the biggest threats to wealth in the history of our country. And these threats are causing the world's most accomplished and wealthy investors to actively short sell the United States – something that is unprecedented in my experience.

RFB,

Very interesting article,

keep in mind that Obama and the people behind him WANT the US to fail.

They are manufacturing crisis just as prescribed in the Cloward Piven Strategy.

Trough destryoing the present system they Hope to bring a Change; communism/socialism.

Hope and Change, just as he promised ( pretty much the only promise Obama kept so far...).