My sentiments exactly. After years of overindulging in fatty foods and overeating, sometimes the doctor’s only option is a quadruple bypass- even if the patient prefers a doctor that says, “Have seconds, you’ll feel better.”

It’s quadruple bypass time, and there’s no way this patient is going to be grateful for it.

Besides our monetary policy pertaining to finance is much worse and will bring us down long before that, perhaps even this year. Reality is about to rear its ugly head and will force hard choices. I pity whomever becomes our next president.

brucewho – “Ron Paul’s social politics are abysmal” Why? Because he thinks entitlements are a waste? They are a luxury the country cannot and should not afford.

That said RP is really about “I told you so”. His prescription is doing away with income tax and government in general. I don’t believe this is realistic. And his social politics are abismal. I will say I believe he is the most honest of all the candidates, Obama included and the most direct on issues.

Would I vote for him in a general election? Well it would have to be as an independant as he has a ghost’s chance in hell of winning the republican nomination. If he does go independant I would suggest Ralph Nadar as a running mate. That way they might cancel out each others more disaggreable positions and appeal across a wide swath of America.

Reminds me of a couple times I voted for another Texan who fit the same statement… Ross Perot.

Is either R.P. the perfect canditate? NO.
But at least someone who will tell the truth for a change would be a big step in the right direction.

My vote for Ross Perot might have helped Clinton get into office… I don’t know.
I sleep with a clear conscience on that one.

In retrospect, I think that after the Titanic hit the iceberg, did it matter who was steering it or calling for “more power” one hour ago?

Everyone has been screaming for more power while we’ve been heading the wrong direction in this country, and now I realize it probably would not have mattered who I had voted for. The goal of both parties is basically the same.

Two groups of prostitutes working for different facist pimps.
(Feel free to edit if necessary, Twist)

We’ll see as we get closer to November if I can vote for another R.P. and sleep well again.
(I have 2 GWB votes to repent of and recover from.)

Did I forget anyone?

Oh yeah….

And realtors.

How about Asia telling the US to buy a bunch of paper from them, print all the dollars they are holding for redemption, binding them into 3″ tall bundles, covering them with mud, drying them in the sun, and using them for the next round of spec home construction?

Anyone with a good punchline as to what effect covering the dollars with mud would do to the actual value of them… fire away!

In addition, President Bush was parroting nearly word for word David Lereah on the joys of homeownership. The government was actively pushing homeownership beyond practical levels. The housing industry has been a great source of employment and revenue. When other jobs moved overseas, homebuilding remained at home. [So far, they haven't come up with a practical way to outsource our housing to Asia.]

I think it was a combination of doing what it shouldn’t and not doing what it should.

If we could figure out how to elect Hercules, he still wouldn’t be able to hold this mess together. I don’t know why anyone would want to be president at this point, their name will become synonymous with the greatest economic debacle of our time.

I can’t bring myself to endorse anyone. When the time comes, I’ll step in the booth, hold my nose, and try and pick the lesser of two evils.

One of the things was that the Fed lowered the interest rate by a tremendous amount, down to about 1% and under those conditions, many people thought that they could afford to buy a house and in fact, they could afford to buy a house so long as the interest rates remained low and the housing prices kept rising. (However), markets go up and down and have for centuries, so those who got themselves out on a limb, got themselves in deep trouble in part because of that.

The government was also, at the same time, leaning on lenders to lend to people they would not lend to otherwise, particularly under the Community Reinvestment Act, that empowered politicians to tell lenders that they ought to put so much money here rather than there — as if politicians know better, which they don’t.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a8HCjIXeA018&refer=home

This reminds me of the 1970′s. An unpopular and very expensive war(Viet Nam/Iraq), looming financial crisis(stagflation coined in the 70′s with Jimmy Carter), lack of leadership in our government(always), rapidly increasing energy costs(oil embargo/$100 barrel oil today). It did not end well in the 70′s and it will not end well this time either.

Clinton/Obama/McCain/Romney….most important election in my lifetime and these are the choices we have….heaven help us, because our government is obviously not up to the task.

Actually Twist it was “government inaction” that created all of this due to lack of proper oversight. It was all ideologically driven, and now after our Executive Branch has abdicated its responsibilities it will point back at government and say “See government doesn’t work.”.

That said, I hate all of these schemes to fix the housing market. Just let the market play out. Clinton’s plan is crazy because it is the opposite of Bushes, it is too interventionist and will prolong the pain.

My favorite quote on the sidebar this morning is from Marketwatch:

Plans to fix the mortgage crisis are like belly buttons. Everybody’s got one, and they’re all pretty much useless.

I think that pretty much sums it up.

[Igor's word for me: Ahab, as in Captain]