2008 Election and the Implications on Housing and the Fannie/Freddie Bailout


This is an election year. That may seem like a tremendous grasp of the obvious but I wish to ask you to look behind that statement so you can see what is happening right in front of your eyes.

What I am really interested in is the Freddie/Fannie bailout. My God, the impact is almost too much to grasp. However, the part I grasped is summed up by a fellow named Jim Rogers in these quotes:

The nationalization of Fannie Mae and Freddie Mac shows that the U.S. is “more communist than China right now” but its brand of socialism is meant only for the rich, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe on Monday (9-08-08).

This is madness, this is insanity, they have more than doubled the American national debt in one weekend for a bunch of crooks and incompetents. I’m not quite sure why I or anybody else should be paying for this,” Rogers told “Squawk Box Europe.”

I submit Rogers is dead wrong when he says the U.S. is “more communist than China right now” because I believe the U.S. has been communist for over 50 years and there is no such thing as “more” communist. Communist is communist in my eyes.

Tell me who wrote the following statements:

1. Abolition of property in land and application of all rents of land to public purposes.
2. A heavy progressive or graduated income tax.
3. Abolition of all right of inheritance.
4. Confiscation of the property of all emigrants and rebels.
5. Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.
6. Centralization of the means of communication and transport in the hands of the State.
7. Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.
8. Equal liability of all to labour. Establishment of industrial armies, especially for agriculture.
9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equable distribution of the population over the country.
10. Free education for all children in public schools. Abolition of children’s factory labour in its present form. Combination of education with industrial production, etc.

The author really doesn’t make much difference, right? Right, espeically since those 10 statements accurately reflect our life structure in 2008.

Should you need help in understanding some of the above statements, I suggest you read the Patriot Act while taking a close look at the government agencies in charge of labor, transportation, communication, agriculture, pharmaceuticals, education, taxes, banking and welfare.

Unless I’m full of beans, all 10 planks have been entrenched in our system for at least 50 years. We have even, at times, lobbied the “government” to make them laws. Naturally they complied. It is easy to pen the sheep when the sheep want to be penned.

What Mr. Rogers failed to expound upon, other than a mention of nationalization, was the extent of the federalization of the housing market. It is happening before our eyes and with our approval. The only thing we complain about is the CEOs of Frannie/Freddie absconding with extra large severance packages.

We are missing the action happening behind the scenes in this election year. I submit that is by design.

I happen to like investing in housing and using my knowledge to not only make a few bucks but help those who actually want help. The money is wonderful but so is the feeling of seeing someone keep their home and not be put on the streets.

As the feds continue to steam roll through this arena, homeless camps will become as common as stop signs and red lights. For the non-believers, read the 10 planks one more time.

[As a side note, I mentioned my son in one of my previous posts. His girl friend is from Warsaw. On one of his visits to her home, he met her grandfather. Grandpa spent 5 years in a Communist slave labor camp. All of his properties and belongings were confiscated by the authorities prior to his incarceration. Re-read plank 4 and 12 USC 95(a) and then tell me it can’t happen here.]

The time table has been accelerated as evidenced by the gargantuan leap in the federal debt as a result of the Freddie/Fannie takeover. A debt burdened populace becomes powerless to mount any meaningful resistance. Ask the last Roman standing in the final days of “the” empire.

I don’t know about you but the election facade doesn’t leave me with a warm fuzzy feeling.

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  1. It doesnt leave me with a warm fuzzy feeling either. The “Last” roman standing is a scary illustration, and what about Hitler’s facade. An entire nation being dooped by the popularity of a man, so it can go either way. Really great post!

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