I am surrounded by morons!

Here's what it looked like in Mesa, AZ yesterday when Obama gave his speech promoting his another bailout, this time for $75 Billion for Mortgages.

Rock star entrance for Obama's speech yesterday in Mesa, AZ.


Speech Part 1


Speech Part 2


Speech Part 3


Text of Speech Link

I just want to comment in one area. He ended his speech on "Core Values" if it was some profound truth we somehow missed these past 8 years (Bush Administration). He said that all must share in responsibility and it was broken down like this:

Government: Responsible for making more fair rules and that they are fairly enforced.
Banks: It's your fault for lending poorly and causing this crisis. You will be punished.
Individuals: Take responsibility for your actions, i.e. you borrowed too much.
Everyone: Live within your means.

Um...Mr. President? Can you take your own advice and have this government live within it's own means? What's with the 789 billion increase in deficit, 700 Billion in TARP 1, and now 75 Billion in a foreclosure bailout? That totals to 1.564 TRILLION DOLLARS in less than 2 months that this government is spending. We aren't even in the 2nd Quarter yet.

The part that upsets me the most about this whole situation, government doesn't get a single blame in this whole thing. Let me layout some common sense, and common blame. I'll save the government for last.

Banks: You've are stupid. You lended too much too quick to try and make as much money as possible. You got sloppy drunk on credit and now you have to pay for the headache you caused yourself. This is why I left Travis Credit Union. When my promotion became dependent upon getting members to fill out credit card applications for credit they did not need...Well, peace out to you.
Individuals: You were also stupid and greedy. You bought too much house, spent more than you make and dropped it on credit cards, and then when you realize you couldn't afford it all...You complain. Greed and gluttony. You deserve the foreclosure and bankruptcy, unless you are a Christian, to whom God still expects you to repay the debt. "Poor" people have cars, televisions, cell phones and fat guts to boot. I don't pity you.
Individuals: Grow up. Become an adult. Children eat more than they should. Children spend their money without care. And only children complain they have nothing after they spent it all. Adults say "No" to themselves. Adults, as Dave Ramsey would state, "Live like no one else today, so tomorrow you can live like no one else." It's called delayed gratification. If you want this "crisis" to end, grow up America!
Government: As for you. What non-four-lettered word can I use to describe you? Are there words to describe the level of despicable and abhorrent behavior I have seen over these past 4 years, yes, Bush to. The housing crisis started with Carter's Housing and Community Development Act of 1974. It was expanded during the Clinton years and this is the real agent to blame. Stupid government mandated that lenders have to, not should, but have to lend to poor people. I'm sorry, did I not get the memo? I thought being poor meant you could not afford a house payment? So, why should they have to lend to people who couldn't afford house payments?

The natural result was sub-prime mortgages, which make lenders a lot of money, and then pass them off to Fannie Mae and Freddie Mac. I'm not saying people and lenders were dumb for doing this, but Obama, for God's sake, stop blaming everyone else except the government.

Am I the only crazy one here? When I first heard about interest only loans, I thought, "Why would you do this? Mortgage rates are at a 40-year low, which means it can only adjust up. So, if you can barely afford as it is now, what are you going to do when it adjusts?" This is a bad deal for everyone. WHY IS THAT SO HARD TO SEE?

I was 19 and understood this. How can a 19-yr old who never has taken a mortgage out know this, but everyone who took out this type of loan did not? I am not a genius. It does not require a math degree to understand this?

Why do I feel like I am surrounded by morons? I have lost faith in the American people. Someone please tell me we are not this dumb.

If we are so dumb to think that more debt can fix our already overly leveraged lives, than God help us. I think I want to emigrate to the moon. At least real estate is affordable over there. Someone shoot me before I steal the space shuttle, America will be dubbed the Obamanation upon my departure.

Update: A quote by Treasury Secretary Timothy Geithner to reporters yesterday, "This is necessary policy. It’s smart economics. And it’s just and fair." This is the guy running our treasury.

Can anyone teach me how to build a bomb shelter and refine my urine into drinking water?