The government has plunged the entire country into a depression because of a relatively small number of affirmative action loan recipients. A CNN point man was completely straight faced as he showed the viewers what regions were dragging the entire country into the economic abyss. The CNN segment was bereft of analysis. “The best team in town” was silent.
The lion’s share of foreclosures is concentrated in California and Florida. Next come Texas, Georgia, and Michigan. That’s pretty much it, folks. The rest of us are paying our bills–and theirs. Pitchforks anyone?
As I said in “Republicans, Repent!”: “Socialism is secondary to state squandering—and a consequence of it.” The US is becoming more statist than Canada because the American state is accrediting through squandering. (It is also far more authoritarian than Canada.)
In the context of this Christian Science Monitor report, I would imagine that Canadian banks were not compelled by law, under left-liberal government programs, to lend to those unworthy of credit.
“Among industrialized countries, Canada is the only one not to have seen a major bank fail. The World Economic Forum ranked Canada’s banking system as the healthiest in the world in 2008, while the US took the 40th spot. And while Canada’s largest five banks reaped profits of $8.2 billion, the top five US banks lost a combined total of $8.3 billion last year.
Stronger federal regulations and lower leverage ratios borne by Canadian banks have allowed them to weather the global banking storm. Canadian financial institutions didn’t engage in the subprime mortgage lending that sideswiped the US banking industry and forced millions of American homeowners into foreclosure.”
Update (Feb. 22): There are other factors that explain why Canada’s banks are not buckling under. Canada has a stricter, immigration system. A point system. When it comes to legal immigration, it awards pointers for knowledge of the country’s languages: French and English.
The country’s traditional source of immigrants is China. The Chinese are affluent, and, well, unlikely to default on their mortgages. They are not as politically aggressive and voracious as are America’s minority communities. Naturally, Canada does not have a large, identity politicking Hispanic community.
Update III: Attorney General Eric Holder demanded an honest conversation about race. He got it from the intrepid Pat Buchanan. The thing is, Holder doesn’t really want a two-way exchange. What he wants is a one-way “conversation,” where brothers like him talk AT the errant American people. The kind of “conversation” one might have with G-d. Pat Buchanan was having none of it. Watch Pat have that frank discussion against the protestations of his interlocutor.
Feb. 18: For electing a black president, you get called “a nation of cowards on issues involving race.”
So hissed the newly appointed Attorney General Eric Holder, as he promised to lead the nation to “to the new birth of freedom so long ago promised by our greatest president”:
“Though this nation has proudly thought of itself as an ethnic melting pot, in things racial, we have always been, and we, I believe, continue to be, in too many ways, a nation of cowards,” Holder said in remarks to his staff in honor of Black History Month. His comments appear on a transcript provided by the Justice Department.
“Even as we fight a war against terrorism; deal with the reality of electing an African-American, for the first time, as the president of the United States; and deal with other significant issues of the day, the need to confront our racial past and to understand our racial present, and to understand the history of African people in this country — that all endures,” the attorney general added.
“Though race-related issues continue to occupy a significant portion of our political discussion, and though there remain many unresolved racial issues in this nation, we, average Americans, simply do not talk enough with each other about things racial.”
Holder said that the Department of Justice, in particular, bears a singular responsibility.
“And we, in this room, bear a special responsibility,” he said. “Through its work and through its example, the Department of Justice — this Department of Justice — as long as I’m here, must and will leave [sic] the nation to the new birth of freedom so long ago promised by our greatest president. This is our duty, this is our solemn responsibility.”
Holder said that the country is now a “fundamentally different” place than it used to be, but that the nation “still had not come to grips with its racial past, nor has it been willing to contemplate, in a truly meaningful way, the diverse future it is fated to have.”
“To our detriment, this is typical of the way in which this nation deals with issues of race,” he said.
As I said, “Non-stop, relentless propaganda, enforced by the tyranny of political correctness, helps explain why most Americans, who harbor no racial animus, believe racism saturates their society. As they see it, in electing Barack Obama, they’ve begun to atone for their original sin.”
To get an inkling of what’s in store, read about Obama’s “Uncivil Agenda.”
This might edify too (that’s right; expect nothing from the GOP):
Update II (Feb. 19): Is she playing “Did you know?” Or is she playing at increasing the racial hostility and entitlement, also the hallmarks of black identity?
“‘Did you know that African American slaves helped to build this house?’ First Lady Michelle Obama asked a group 6th and 7th graders on a visit to the White House Wednesday, an event celebrating African American History Month.”
The First Lady would help her constituency more if she okayed a few internships mowing the White House lawns.
Update III: Attorney General Eric Holder demanded an honest conversation about race. He got it from the intrepid Pat Buchanan. The thing is, Holder doesn’t really want a two-way exchange. What he wants is a one-way “conversation,” where brothers like him talk AT the errant American people. The kind of “conversation” one might have with G-d. Pat Buchanan was having none of it. Watch Pat have that frank discussion against the protestations of his interlocutor.
Feb. 18: For electing a black president, you get called “a nation of cowards on issues involving race.”
So hissed the newly appointed Attorney General Eric Holder, as he promised to lead the nation to “to the new birth of freedom so long ago promised by our greatest president”:
“Though this nation has proudly thought of itself as an ethnic melting pot, in things racial, we have always been, and we, I believe, continue to be, in too many ways, a nation of cowards,” Holder said in remarks to his staff in honor of Black History Month. His comments appear on a transcript provided by the Justice Department.
“Even as we fight a war against terrorism; deal with the reality of electing an African-American, for the first time, as the president of the United States; and deal with other significant issues of the day, the need to confront our racial past and to understand our racial present, and to understand the history of African people in this country — that all endures,” the attorney general added.
“Though race-related issues continue to occupy a significant portion of our political discussion, and though there remain many unresolved racial issues in this nation, we, average Americans, simply do not talk enough with each other about things racial.”
Holder said that the Department of Justice, in particular, bears a singular responsibility.
“And we, in this room, bear a special responsibility,” he said. “Through its work and through its example, the Department of Justice — this Department of Justice — as long as I’m here, must and will leave [sic] the nation to the new birth of freedom so long ago promised by our greatest president. This is our duty, this is our solemn responsibility.”
Holder said that the country is now a “fundamentally different” place than it used to be, but that the nation “still had not come to grips with its racial past, nor has it been willing to contemplate, in a truly meaningful way, the diverse future it is fated to have.”
“To our detriment, this is typical of the way in which this nation deals with issues of race,” he said.
As I said, “Non-stop, relentless propaganda, enforced by the tyranny of political correctness, helps explain why most Americans, who harbor no racial animus, believe racism saturates their society. As they see it, in electing Barack Obama, they’ve begun to atone for their original sin.”
To get an inkling of what’s in store, read about Obama’s “Uncivil Agenda.”
This might edify too (that’s right; expect nothing from the GOP):
Update II (Feb. 19): Is she playing “Did you know?” Or is she playing at increasing the racial hostility and entitlement, also the hallmarks of black identity?
“‘Did you know that African American slaves helped to build this house?’ First Lady Michelle Obama asked a group 6th and 7th graders on a visit to the White House Wednesday, an event celebrating African American History Month.”
The First Lady would help her constituency more if she okayed a few internships mowing the White House lawns.
