Dear Editor,
Louis Black’s Oct. 22 “
Page Two” regarding the current American political and economic upheavals is a lame attempt at erudite sophistication and profundity. But worse, he descends even further with his misleading tautology describing why these events happened. All he can do is falsely blame pundits, Republicans, and kvetch.
So here are the facts. Around 2005 the sacred cow Democratic social entitlement programs Fannie Mae and Freddie Mac (home mortgage guarantee) began to unravel. They had forced banks of all sizes to lend billions of dollars in mortgages to millions unable to afford them. As a result, defaults became massive. These financial liabilities severely wounded the macro economy. That has been the single biggest cause of the economic debacle. And it’s very interesting that Black doesn’t mention this. He’s either unaware of it or is in willful denial. Either way, it’s not good.
This Democratic government social engineering meddling caused the American economy to collapse. And they’re still denying it! Moreover, the Democrat leftists are demanding new massive tax increases and more regulatory burden to continue the insane leftist theory that government more effectively creates economic growth and full employment than capitalism. It’s never worked, always failing. Its repetition is unhinged! Ergo, the political earthquake building since Barack Obama’s election will erupt, devastating the Democrats in November.
The American people are existentially shaken. They’re aware that Barack Obama and his leftist cohorts’ policies are morally and intellectually bankrupt. Indeed, Americans have rediscovered their inner love of precious liberty. They’ve glimpsed how dreadful life is without it. They’ve gotten a bitter taste of Democratic leftism. The November elections will hopefully bring the firing of most of these well-intentioned but misguided fools. Sweet liberty will again prevail. If not, America will fade further and misery will advance!