Interview by Year of Youth

I was interviewed on the radio program for the “Year of Youth” website. Check it out here:

http://www.yearofyouth.org/radio

Check out the website at http://www.yearofyouth.org/. The group is lookin good as a solid liberty-minded youth-oriented project. Good luck to them!

Bob is awesome

Great recent videos about economy and government

Our government is psychotic

‘Obama Bear Market’ Punishes Investors as Dow Slumps

March 6 (Bloomberg) — President Barack Obama now has the distinction of presiding over his own bear market.

The Dow Jones Industrial Average has fallen 20 percent since Inauguration Day, the fastest drop under a newly elected president in at least 90 years, according to data compiled by Bloomberg. The gauge has lost 53 percent from its October 2007 record of 14,164.53, slipping 4.1 percent to 6,594.44 yesterday.

More than $1.6 trillion has been erased from U.S. equities since Jan. 20 as mounting bank losses and rising unemployment convinced investors the recession is getting worse. The president is in danger of breaking a pattern in which the Dow rallied 9.8 percent on average in the 12 months after a Democrat captured the White House, according to data compiled by Bloomberg.

“People thought there would be a brief Obama rally, and that hasn’t happened,” said Uri Landesman, who oversees about $2.5 billion at ING Groep NV’s asset management unit in New York. “It speaks to the carnage that’s in the economy and the lack of confidence in the measures that have been announced.”

A bear market is defined as a decline of 20 percent or more.

Buying shares “is a potentially good deal” for long-term investors, Obama said March 3. He compared daily fluctuations to a tracking poll in politics and said he wouldn’t adjust his policies just to meet market expectations.

Congress last month enacted Obama’s $787 billion package of tax cuts and spending on roads, bridges and public buildings. His 2010 budget indicated the government’s financial rescue may need another $750 billion after an initial $700 billion.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a5o50mgg9hWA&refer=news

Wow- someone actually got it right!

It’s been obvious to me that government aid=lower stocks, but no one has put it in print until today:

Dow Dwindles On AIG Aid

Latest effort to rescue the insurer leaves stocks reeling; blue chip index slips under 7,000.

There was a familiar story on Wall Street Monday: The latest government effort to aid the financial system was met with a sharp fall for the major averages, which tumbled to their worst levels since 1997.

Paul Supporters Lead Fight to Restore State Sovereignty in Oklahoma

“State House to consider historic bill to take back state’s rights under the 10th Amendment to the Constitution”

Oklahoma City – For far too long, the 10th Amendment to the U.S. Constitution has been known as the forgotten amendment.   With power grab after power grab, Congress has slowly eroded the rights of states to keep powers not specifically granted to the federal government.

As more and more citizens and state legislators across the country begin to realize that this loss of states rights is at the core of many of our nation’s problems, those legislators have set out to stop the out of control Congress and restore some sense of sanity and constitutional protections to the individual states.

On February 11th, Oklahoma became the first state to act on legislation to do just that.  This action was directly brought about by a Ron Paul supporter, and it is Campaign for Liberty members that will see this battle all the way through.

You see, the 10th Amendment in our nation’s Bill of Rights has long been despised by our big government foes.  That amendment was drafted to enshrine in the Constitution what the Founders and the original states already knew: any power not expressly given to the federal government is kept by the states and the people.  Although a lot of freedom-minded individuals have long fought for full compliance with this amendment in modern times, there has been a void of leadership and a lack of focused action – until now.

That void has been filled by the formation of Campaign for Liberty, which was born from Ron Paul’s galvanizing 2008 Presidential campaign.

Campaign for Liberty is fighting in state legislatures across the country and in Congress to preserve and restore constitutional rights to all citizens, to subdue an out of control federal government, and to win back our lost freedom.

The fight in Oklahoma is a great example of the kind of battles we face in the next stages of the Ron Paul Revolution.

With the support of Dr. Paul’s activists throughout the state, the Oklahoma legislature has taken up a vital bill to put Congress in its place and to remind it that there are limits to federal power.

This past Wednesday, the Oklahoma House Rules Committee unanimously supported House Joint Resolution 1003 (http://webserver1.lsb.state.ok.us/2009-10HB/HJR1003_int.rtf), which expresses the sovereignty of the State of Oklahoma and clearly calls for an end to unconstitutional federal government mandates.

Representative Charles Key (R-Oklahoma City), the sponsor of this bill, has spearheaded a national movement to put the federal government on notice that the separate states are sick and tired of having their actions dictated by Washington, D.C.

Rep. Charles Key is a supporter of Dr. Paul – in fact, he was the first elected official in Oklahoma to endorse Ron Paul’s candidacy for President (http://www.youtube.com/watch?v=aa5sCO-3ly0) because of Dr. Paul’s strong support for the US Constitution.

Oklahoma IS an example of how the R3volution is leading the battle to restore constitutional rights and freedoms to our citizens.  The fight to reclaim our Republic and restore our Constitution is just beginning, and, with the continued efforts of Campaign for Liberty members all across the country, it is a fight that we can and will win.

Kirk Shelley

Oklahoma Interim State Coordinator, Campaign for Liberty

2008 State Coordinator, Ron Paul for President

This is how the Nazis started their killing spree…

Last week, the Obama-Biden Transition Project posted a report on its website that calls for dramatic policy reversals on abortion, including $1 billion in taxpayer money for international abortion groups like Planned Parenthood. The report, titled “Advancing Reproductive Rights and Health in a New Administration,” also calls for a 133-percent increase in funding for the Title X program, which funds Planned Parenthood clinics across the country.

Marjorie Dannenfelser, president of the Susan B. Anthony List, is hoping a Republican-led effort in the Senate will block Obama’s plan to substantially increase taxpayer funding of the abortion industry.

http://www.onenewsnow.com/Politics/Default.aspx?id=356962

E-Dissonance

E-harmony settled in a New Jersey lawsuit and evidently has to allow gays to join. Moreover they have to give gays a free 6-months:

Coming soon to EHarmony — Adam and Steve.

The Pasadena-based dating website, heavily promoted by Christian evangelical leaders when it was founded, has agreed in a civil rights settlement to give up its heterosexuals-only policy and offer same-sex matches.

EHarmony was started by psychologist Neil Clark Warren, who is known for his mild-mannered television and radio advertisements. It must not only implement the new policy by March 31 but also give the first 10,000 same-sex registrants a free six-month subscription.

This is horse shit!! What rights do homosexuals have? Evidently they have the RIGHT to be on E-harmony. What a crock of horseshit and the gayest thing I’ve ever heard- literally! This is a group of people forcing others to do something-which is restricting THEIR rights. This is pathetic. I don’t care what homosexuals consenually do with each other, but now they’re forcing others to do what they don’t want. NOT ACCEPTABLE!

THe source of the economic woes?

This seems hard to believe, but an article in the NYTimes in 1999 predicted this mortgage-led economic downturn:

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.

Note that Fannie Mae was government subsidized and chartered (though it was supposedly independent corporation). This is important to pay attention to because normal non-subsidized mortgage companies wouldn’t have done this without Fannie Mae leading the way.

Who’s to blame for this debacle? GOVERNMENT.

And what do they do? they blame the free market and say that it needs more regulation. SICK!

Here’s the entire article:

Fannie Mae Eases Credit To Aid Mortgage Lending

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writePost();new_york_times:http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec=&spon=

By STEVEN A. HOLMES

Published: September 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets — including the New York metropolitan region — will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates — anywhere from three to four percentage points higher than conventional loans.

”Fannie Mae has expanded home ownership for millions of families in the 1990’s by reducing down payment requirements,” said Franklin D. Raines, Fannie Mae’s chairman and chief executive officer. ”Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.”

Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.

”From the perspective of many people, including me, this is another thrift industry growing up around us,” said Peter Wallison a resident fellow at the American Enterprise Institute. ”If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.”

Under Fannie Mae’s pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 — a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.

Fannie Mae, the nation’s biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.

Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.

Home ownership has, in fact, exploded among minorities during the economic boom of the 1990’s. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University’s Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.