Get past Davidowitz’ coarse delivery (in fact, get used to it because the days of fake political correctness and sugar coating on everything are, thankfully, ending quickly) and hear the message:
Everything Davidowitz says is true but I disagree with his implication that Obama is the big cause. Obama is indeed doing all of the wrong things and I have bashed him many times for it but so did Bush 2, Clinton, Bush 1 before him. ALL of them did everything they could to kick the can down the road and they did so knowingly in order to buy votes. Nobody wanted to tell the truth because they knew the people couldn’t handle the truth. In fact all presidents going back to Nixon and perhaps even before that were part and parcel of the Ponzi. Was it not Milton Friedman who, as a result of Nixon removing us from the gold standard said, “We’re all Keynesians now”? http://en.wikipedia.org/wiki/We_are_all_Keynesians_now
Of course what he really meant was that we are all addicted to expansion of the money supply (either by taking on debt or by just printing more dollars) and that if we stop doing things to kick the can down the road that a massive economic collapse would have to be endured in order to pay for all those years of kicking the can down the road and not doing the right thing in real time. He really meant that from the time of gold de-linking going forward, the economy was a Keynesian con job.
And what about Bush 2 shamelessly telling every renter to go “buy” a home:
News flash: dum-dum Bush was not smart enough to know that selling houses to people who could not pay was the only remaining strategy to keep the Ponzi spinning as long as possible. Remember: housing is the largest asset class in the country by far which is why Greenspan told us not to expect a bottom until the bottom had been put in housing. Bush’s puppeteers put all of this “home ownership society” propaganda together for him in order to maximize profits for the Ponzi operators. It is absolutely not the place of government to do this but it sounded like something for nothing so the people ate it up.
Obama is taking a whipping like this only because he arrived after the Ponzi peaked and he is in office as the collapse is picking up steam. Yes, he could have done things a lot differently and the results would have been better in aggregate for the country over time. But to think that anyone, even Ron Paul, was going to be able to deflate the biggest credit Ponzi the history of man without a lot of pain is to believe in the tooth fairy. It is to believe that you can just drink as much alcohol and drugs as you like and never get a hangover or experience withdrawal pains. I’m not trying to relieve Obama of blame here because, unlike Bush, Obama IS smart enough to know that he is trying to prop up a Ponzi. I just think blaming Obama for everything leads us into the dead end “dem vs GOP” emotional argument that was set up from the very start to obfuscate what is really going on.
