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Progressive Politics in Minnesota, the Nation, and the World

Mortgage Meltdown A Perfect Storm

Category: Society
Posted: 11/26/07 20:24

by Paul Bartlett

The subprime mortgage meltdown has unleashed a cascade of residential foreclosures. 2008 will be worse. It appears that by the end of next year, nationally twenty million or more housing units will have been repossessed.

And through the presidential debates, barely a word. The Republicans care only about their misguided terrorism policy, cutting even more taxes for the wealthiest, and further dividing this nation through draconian social policy. The Democrats prefer to bash Hillary.

We are teetering at the abyss. When homeowners stop paying their
mortgage, they stop escrowing their real estate taxes. Those taxes are apart of local government (municipal, county and school district) budgets. Local tax collections will suffer; the tax base will shrink; tax liens will skyrocket; and, solvent homeowners will pay, and pay, and pay.

Greed has resulted in the worse housing crisis since the Great
Depression. Complicit mortgage brokers, shady realtors and corrupt
appraisers lead the list. Major lenders share the blame, driven by a
hunger for more and more profit. Republicans have gutted our regulatory systems, making it all possible. The perfect storm.

The next president's biggest crisis will not be terrorism, taxes or
what the two gay guys at the end of the street are doing. It will be
this perfect storm.
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Quick Takes on Political News of the Day

Category: Presidential Politics
Posted: 11/26/07 17:46

by Dave Mindeman

Quick takes on the news:

Huckabee on a Roll: Bob Novak's column about Huckabee (False Conservative) shows that he is now a force to be reckoned with. The Evangelicals have latched on to the Arkansas governor and are moving the numbers in Iowa. Huckabee is a favorite of the social conservatives but not with the economic wing of the GOP. The Club for Growth has attacked his record and a split in the party could follow Huckabee's ascension. Most pundits still believe he doesn't have the traction to go all the way....but the Huckabee growth bears watching.

Thompson vs. Fox: Fred Thompson took issue with Fox's coverage of his campaign on Fox News Sunday this week. Thompson said: "This has been a constant mantra of Fox, to tell you the truth...for you to highlight nothing but the negatives in terms of the polls and then put on your own guys who have been predicting for four months, really, that I couldn't do it, kind of skew things a little bit. There's a lot of other opinion out there." Sorry Fred, MSNBC said the same thing on Joe Scarborough's show this morning and your advisor, Mary Matlin, got ganged up on....on Meet the Press by 3 other pundits (including her husband) about how poorly your campaign is doing. Probably not a good idea to go into attack mode against the GOP/Fox Noise Channel....they are your best shot.

Trent Lott: Trent Lott fights to get back into the Senate GOP leadership...gets re-elected in 2006 and now.....quits? Must be looking for the big lobbyist payoff bonanza. Not that Democrats will be happy with any replacement from Mississippi. Rumors have it that arch-conservative Chip Pickering may be after the job.... and he will probably get it.

Bush Meets With Nobel Laureate: Al Gore was back at the White House to be honored for being the current recipient of the Nobel Peace Prize. Curiously, the Bush White House rearranged some of the scheduling to accomodate a Gore appearance. And Bush requested and got a private meeting with the former VP. 40 minutes alone together....oh, to be a fly on the wall....
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Not Hearting Huckabee

Category: Presidential Politics
Posted: 11/25/07 22:07

by Paul Bartlett

At a Republican presidential candidate debate this past Spring, three candidates professed their belief in creationism. At the time, I dismissed all three as candidates for the loony bin. But now, one
candidate, Mike Huckabee, is quickly rising in Republican polls.

After two terms of the anti-science Bush administration, a Huckabee lead government would take us back to the middle ages. After replacing evolution with creationism in biology classes, a Huckabee designed curriculum would likely replace mathematics with numerology, astronomy with astrology, chemistry with alchemy, and history with mythology.

Huckabee can believe that the sun revolves around the earth and that the world is flat. That's his right. But as this nation falls further
behind in a very competitive world, we cannot afford another
administration that is hell bent on revisiting the 1925 Scopes (Monkey)Trial.

The goal of a Mike Huckabee administration, former Baptist minister: The unification of church and state.
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