The Economy: Dems and GOP At A Crossroads

The time for referencing former President Bush is past dead.

Yes, he committed the United States to $700 billion in TARP funds (Trouble Asset Relief Program). These institutions received TARP funds.

Was TARP necessary and -- moreover -- did it work?

NO:

Ultimately, what TARP did was to provide funds for the government to take an ownership interest in private firms. Nationalizing our financial and industrial firms is not in the public interest. The federal government now owns 80% of AIG and 61% of GM. TARP was not necessary. It didn’t work. And what it actually did was undesirable.

Unfortunately, Bush set the stage for the rapine of the United States. Our Hero took that ball and ran with it, expanding exponentially upon the track set by GWB.

Mr Obama swore that, without the billions and billions of dollars required by his stimulus packages, there would be massive failures of banks, double-digit unemployment, a true recession, bankruptcies of businesses "too large to fail."

And yet, all of those things have come to pass despite billions and billions of American taxpayer dollars -- essentially PISSED away and unaccounted-for UNDER Mr Obama. No, NOT under Mr Bush; under Mr Obama.

I might cite, as an example, FoMoCo. Ford, which elected not to take any government monies, recently returned profits of nearly a billion dollars in this third quarter. GM and Chrysler are stumbling at best. Conversely, CIT Group, taking $2.3 billion of government funds, plans for bankruptcy.

With that in mind, the smallest state elections on Tuesday now take on massive implications.

I write this late Tuesday night with few returns extant.

Mr Obama's plans and sycophants will be supported and exonerated or this will be the beginning of a very rough time for the Demorats and Leftists.

I suspect the latter.

I also suspect a change in the national political machine on most every level. The times are changing; Texas Fred believes this as well. We may very well be seeing a slow but inevitable and inexorable leaning towards a third party. Not yet. Not now. Not this year. Not the next.

This ties into a clump of ephemeral and emotive votes -- the vote in 2008. I can actually write now (and it will be acknowledged): Obama was elected not because everyone believed he was an Actual Savior (as portrayed by the American media, already "in the bag" for him because of his melanin and background) but because his was an anti-Bush vote. Or: anyone but Bush. Obama was there. Hence: Obama.

But there are many people who are not only done with Demorats, but done with the GOP as well.

I suspect we're witnessing the cusp of an American Political System in serious flux.

These interim elections don't look good for the Donks.

At this early point the GOP takes Virginia, and the GOP takes New Jersey.

BZ