It’s finally over, 2016 that is, taking with it Carrie Fisher and her mother. I don’t really care (I care about Carrie, make no mistake) what number you put on the year, reaching another one is a good thing.
What I find odd is the continued liberal screaming on the Internet and just about any other place you can find about the next President. One blogger insisted that harassing Ivanka on a JetBlue flight was a good thing and we, meaning anyone who didn’t vote for daddy Trump, should scream at all the Trump folk especially his children, stating the “Pax Americana” was coming to an end. Wow, is it possible that there are people in this country that have not noticed the nearly two decades long wars in the Middle East? Peace?? You’re kidding right?
I was left to wonder if, following this line of thinking, it would be a good thing if we also screamed at Sasha and Melia? After all, their father is responsible for tripling the nation debt, but then that was the deal he made with the big banks and Wall Street. He would pay them large sums of TARP funds (did you get any TARP funds?) so that they could have their million dollar bonuses for selling out working-class Americans and they would not be effected by The Great Recession. Did you miss that bit of history? Hard to see it, when you are losing your job thanks to Billie Clinton’s NAFTA and of course, the banks are taking your homes because they set up The Great Recession. Don’t believe me? Well, let me show you what I saw.
An unknown Senator from Illinois sudden appears on the national stage, carefully scripted and extremely well funded. By now everyone knows you can’t run for president without “the parties” (there are only two) support. Now Hillary Clinton was also running for President that year and she was doing really well. Did you notice when she dropped out, how truly angry she was? But the DNC made her a deal. If she would step out of their man Barry’s way, she would be the next DNC candidate when Barry was through. The big banks and their big, really big, money plus the Wall Street money carefully choreographed their boy Barry (no, I don’t feel bad about that, he is not from a slave line) to ensure the coming recession would profit them in all ways. I was still working in the real estate industry and all of us old-hands saw it coming a mile away. In 2004 there were NINE no-money-down loans out there and people without full understanding of markets, money and mortgages were snapping up overpriced houses sure that home prices would continue to rise and they could sell in two years or less and make a ton of money.
There is some debate about when The Great Recession actually started but let me share what I felt here in California. In September of 2005 the market stopped and I mean that sincerely, it Stopped! All my investor clients felt it and the smart ones followed my advice and priced their investments to sell, fast. Smaller home loan companies who were holding what would turn out to be ‘dead’ paper, meaning a mortgage the borrower could never repay, scrambled to divest themselves and tried to tell anyone who would listen to do the same. Remember the “Occupy Wall Street” movement? Remember Barry telling you “the TARP funds had been repaid”? Well, yes and no. Just as one example, Bank of America did in fact repay “their” TARP funds, what they did not do is repay the TARP funds for all the smaller entities they took over. Now, Bank of America waited until Barry had passed out the money before taking over these other ‘mortgage’ folk. Countrywide received millions in TARP funds as did Sierra Pacific and lots of other smaller institutions taken over by Citi Bank, Wells Fargo and one, maybe two, other BIG financial institutions. Why is this of interest? Bank of America got Countrywide and the TARP funds given to Countrywide but Bank of America will not repay Countrywide’s TARP funds and it’s legal. The TARP funds went to Countrywide and that institution no long exists therefore, Countrywide is responsible for repayment of those funds, not Bank of America. The Great Recession was a planned event and Barry was the answer as to how the Big Banks could profit from both sides.
If you read my “None of the Above” you know I wasn’t thrilled with either candidate. But the folks still screaming about the outcome need to consider what I just wrote because so many Americans had to live with what the DNC and deeply wealthy folks did. (just as an aside, Chrysler took their TARP funds and built a factory, in China). I am not going to say things will get better but, honestly, for many, worse couldn’t get much more terrible.