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Small Asteroid On Collision Course With Earth

rice_burners_suck Asteroid bad for economy. (397 comments)

Hopefully it really does burn up totally in the atmosphere. An asteroid colliding with the world right now would make a bad economy worse. Speaking of the economy, do you know how this whole meltdown began? It started in 1977 during good ol' Jimmy Carter's presidency (geez, his presidency just keeps on giving so many years later; giving nothing but damage, that is). They wanted to make sure that poor people would be able to own their own homes. So they made up this law about making it possible for these people to get loans. Then this dude named Barack Obama came along some years later, along with some Acorn thing, and they went around and sued banks into complying. What banks did in order to keep making money while making bad loans was this: They'd bundle together lots of good loans with bad loans and sell these bundles to Freddie Mac and Fannie May. Those two government corporations would then bundle together a bunch of these bundles and sell the resulting bigger bundles to investment bankers. That is, 401k's and stuff like that. Then Bill Clinton came along and encouraged even more of this loan-giving, because you see, it's a pyramid scheme, kind of like Social Security. Well the result of all of this was that people who should never have received a loan (since they couldn't conceivably pay it back) did, homes were purchased, demand went up, supply couldn't keep up, prices skyrocketed, people who wanted loans beyond a home's value could get them since the price would "always" continue to rise, and so forth. It was a huge bubble. And that bubble just burst. And now, in order to "fix" the problem, the government is gonna make up even MORE legislation, even MORE regulations, etc., and the banks and CEOs are going to get punished, and everyone is conveniently forgetting that it's the government that started the whole thing and Barack Obama who, through the threat of litigation, forced banks to make these bad loans, which they knew were bad. In other words, what I'm saying is that the government forced the banks, through this ridiculous legislation, to make these loans. The banks did because they didn't have a choice (and Obama was there to make sure of that). And when it failed, everyone blames greed and banks and whatnot. The government walks away scott free, Obama gets elected because one Jimmy Carter isn't enough for a country this size, and the entire American people are left paying the bill -- which will come out to something like SEVEN THOUSAND DOLLARS PER TAXPAYER! What would YOU do with $7,000? For these reasons, an asteroid crashing on the Earth and driving stock prices even lower is something we really don't have time for right now. Government regulation out of control. Because when Rome is burning down, play a fiddle.

more than 5 years ago

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