Cactus Kate on Obama

July 20th, 2009 at 3:00 pm by David Farrar

Cactus Kate blogs approvingly of a speech gave to the NAACP where he told parents to put away the x-box:

So last night we had the Obama speech/sermon to the NAACP (National Association for the Advancement of Colored People). Most of the first part of the speech was dreadful, about how he was going to spend more of mostly the white man’s money. Being at a coloured convention he received a thunderous applause for every trillion he stole.

But then Obama turned it all on the audience. He was brilliant. I think he wrote this part of the speech himself.

“Government programs alone won’t get our children to the Promised Land,”

“We have to say to our children, ‘Yes, if you’re African-American, the odds of growing up amid crime and gangs are higher, Yes, if you live in a poor neighborhood, you will face challenges that someone in a wealthy suburb does not.’

“But that’s not a reason to get bad grades, that’s not a reason to cut class, that’s not a reason to give up on your education and drop out of school. No one has written your destiny for you. Your destiny is in your hands and don’t you forget that.”

“I want them aspiring to be scientists and engineers, doctors and teachers, not just ballers and rappers,” Obama said. “I want them aspiring to be a Supreme Court justice. I want them aspiring to be president of the United States.”

Only a black President could give that speech.

Kate goes on to say:

If only we could have an effective co-President who made sound fiscal decisions

I agree. A lot of what Obama has done I have no problems with. His fiscal policies though are an unmitigated disaster (yes even worse than Bush and he was crap fiscally) and I think will lead to another US crash when they start printing money to pay the bills.

A short clip of part of the speech. He even urges parents to take action if their neighbour’s kids are misbehaving – including smaclking them!

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23 Responses to “Cactus Kate on Obama”

  1. Redbaiter (13,197 comments) says:

    Kate promotes herself as a member of the VRWC.

    She’s in reality just another Progressive journalist.

    Fill in a Labour Party membership application form Kate, and then STFU.

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  2. Chris_C (224 comments) says:

    You forget, Bush precipitated this mess by letting Lehman fail. That’s commonly considered to be the start of the crisis – the lack of reasonable action on the part of the Bush administration in recognising the importance of the major institutions. Why do you think that there were a series of bailouts all over the world for banks with heavy exposure to Lehman assets? Because it was generally agreed to be the best way forward.

    Sure, it’s not great, but it’s better than the frozen up crisis we experienced when Lehman collapsed.

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  3. Shunda barunda (2,964 comments) says:

    Bring back the whoop ass!!!
    Isn’t it funny that the left wing’s hero is all for smacking as part of good parental correction.

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  4. Manolo (12,625 comments) says:

    Entertaining to hear how the Messiah speaks in a black accent for this captive audience. You could be forgiven for thinking you’re listening to his mentor and pastor, Jeremiah Wright.

    His “spend-to-get-outh-of-a-recession” policies will bankrupt the United States. Far less expensive for the Yanks is to make Obama a one-term president and throw him out in 2012, Jimmy Carter style.

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  5. Tomsk (4 comments) says:

    Obama can’t make sound fiscal decisions. He is in a fiscal straightjacket caused by the last 40 years of American policy. The best comparisom for the US economy is a supertanker. incredibly slow to change course. Of course there is plenty of waste but there always was.
    A great example is that the US military don’t want more of a certain type of fighter but the house is insisting that they get the money. This just shows how tightly bound up the US government is to the military industrial complex

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  6. Neil (526 comments) says:

    Manolo is perfectly correct. Obama’s inexperience and sheer gullibility reminds me of the peanut farmer from Plains Georgia who was attacked by a rabbit !!!(J.Carter)
    The scenario will be the increasing anger of the American people- the tea party phenomenon has barely raised its head in the MSN because of their unadulterated love of Obama. See NBC,The Washington Post and bankrupt New York Times
    Obama’s ratings are starting to fall. What with health care where he is forcing a huge increase in taxation and the cap and trade bill, Obama has inflicted heavy tax raises on the American people.Coupled with idiots in congress like Nancy Pelosi, Barney Frank and other liberals Obama is away with the fairies
    People are doubting Obama now, the media honeymoon is over. Look for the bluedog Democrats leave Obama like the Titanic.
    Hyperinflation is on the way plus rapidly increasing taxation on the small busiunessman.Remember,Obama’s life experience has been as a community organizer and a professional politician.He’s one of the Chicago school, one step away from corruption and part of the Jesse Jackson school of fools.
    Look to 2010 for a huge turn around in US politics, just like 1994. Now the GOP has to find somebody credible to crystallise that opposition into a credible 2012 opponent to the Obama messiah. Certainly not Palin,Huckabee or Romney.

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  7. ben (2,386 comments) says:

    I think will lead to another US crash when they start printing money to pay the bills.

    Oh they’ve started.

    I confidently predict Obama will be counted among the worst of all presidents. He will be held responsible for seriously and permanently damaging the US economy with his trillion dollar bailout that permanently expands the reach of the federal government, for de-throning the greenback as the world’s default currency, for introducing a horribly misguided emissions trading scheme and above all else, for his nationalisation of US healthcare which is looking increasingly like it will radically lower the quality of healthcare for 90% of US citizens while at the same time raising costs.

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  8. Hurf Durf (2,860 comments) says:

    In related news: Obummer’s Commerce Secretary thinks that America needs to pay for China’s emissions.

    http://blogs.wsj.com/environmentalcapital/2009/07/17/commerce-secretary-americans-need-to-pay-for-chinese-emissions/
    http://www.reuters.com/article/latestCrisis/idUSPEK312106

    Talk about a ship of fools.

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  9. LUCY (359 comments) says:

    Credit where credit is due. I never never never thought I would say this but in this instance I agree with Obama

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  10. kiki (425 comments) says:

    Always thought Obama for the external America and Mccain for their economy. Pity the politics would never allow it. Just have to wait for Ron Paul to fix everything.

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  11. side show bob (3,660 comments) says:

    Obama believes in SMACKING ?, my God, this will have the lefty arse lickers spinning around like dying flies.

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  12. side show bob (3,660 comments) says:

    Oh and for anyone interested there is a youtube clip ( 10 mins ) on the website (abovetopsecret) of the Rev Manning and what he thinks of Obama. Suffice to say the good Rev Manning is definitely not one of Obama’s fans, it’s wonder the Rev Manning is still breathing given the sicking worship of Obama. This has to be seen to be believed.

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  13. kaya (1,360 comments) says:

    “His fiscal policies though are an unmitigated disaster (yes even worse than Bush and he was crap fiscally) and I think will lead to another US crash when they start printing money to pay the bills.”

    The fiscal policy is without a disaster but worse than Bush? The poor bastard inherited a steaming pile of dogshit that would make Bill English’s hassles look like a lottery win. As with Cullen and co, the republicans are responsible for the nonsense we are watching unfold.

    Bill Bonner got it right:

    “No one man bears more responsibility for the present worldwide financial crisis and coming depression that Alan Greenspan.

    The Fed’s job is to take the punchbowl away when the party gets too wild, said former Fed chairman William McChesney Martin. Greenspan did no such thing. As soon as the party began to quiet down and people began fumbling for their car keys, Greenspan added more rum to the punch and turned up the music. By the time the credit cops finally shut it down, people were dancing on tabletops all over the world.

    And now, poor Mr. Obama has to deal with the headaches.”

    The USA is the biggest Pozi scheme in the world.

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  14. Cactus Kate (538 comments) says:

    Redbaiter – you really are the dumbest fuck on the planet.

    Unlike David who states “A lot of what Obama has done I have no problems with”, the only use I have for Obama is as a motivational speaker to ethnic minorities.

    His life’s work is writing a book (from which all his pre-political wealth has been derived) and lobbying for low income people and minorities to be financed into housing when they could not afford it……therefore most in part the reason for the sub-prime crisis, the promotion of cheap credit. He’s now lumbered with fixing a problem he helped create.

    He is a token President so the world should use him for that purpose.

    Having said all that, Sarah Palin doesn’t even serve that purpose and John McCain is too old to get out of bed without the assistance of a zimmer frame. Even Denny Crane voted Obama.

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  15. enough rope (107 comments) says:

    Redbaiter – you really are the dumbest fuck on the planet.
    That’s not very nice. As parrots go, the little chap is as gifted as they come.
    When Rush Limbaugh finally succumbs to the combined effects of oxycontin abuse and morbid obesity, the mad mimic will throw the mother of all hissy-fits, before declining into a twilight of incoherent squawks, punctuated by the occasional raucous “Polly want a Palin!”

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  16. Redbaiter (13,197 comments) says:

    Just go join your Progressive friends at Labour Kate, and stop posing as a rightist.

    Confused fuckwits like you have undermined the right for too long and given the left the best run on power they have ever had.

    Time for RINOS and Progressives polluting the right to hit the road.

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  17. expat (4,048 comments) says:

    Ethnic minorities like white male married heterosexual taxpayers?

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  18. Richard Hurst (710 comments) says:

    There’s an easy way for comrade Obama to pay back all Amkerica’s debt: sell California to the Chinese! This would also solve the states current credit problems. A double bonus!
    We could do the same with the South Island West coast and instead of a decade of debt we’ll have decades of surplus!
    High ranking CCP members could retire there to rule large estates worked by “feral” (Hulun’s words not mine) westcoasters. ;)

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  19. kiwi in america (2,336 comments) says:

    Chris C
    You need a crash course on how the market meltdown really happened not the version Huff Po or Daily Kos have fed you.

    Profligate lending encouraged by Federal Govt law changes and the enticements of quasi govt agencies caused the meltdown. In the US mortgages are packaged and sold in bulk on bond markets.The explosion of sub-prime loans came as a result of various inducements that began under Carter. Congress passed laws requiring banks to make loans available to the poor. Clinton piled on by using Freddie Mac and Fannie Mae (govt backed bulk buyers of home loans) to buy up the sub prime loans (loans to people with bad credit or minimal deposits). Pretty soon mainstream lenders piled on BECAUSE THEY KNEW FANNIE AND FREDDIE WOULD ALWAYS BUY THEIR JUNKY LOANS. Next you had the huge Wall St investment houses encouraging their investors to buy the huge chunks of securitized sub prime loans. When the bottom fell out of the housing market the exotic loan packages (fuelled by the voracious appetite of the govt backed aggregators) were unaffordable and defaults begin. Suddenly a package of loans that Bear Sterns (or Lehmans) had on their books for $2B has a market value (based on the draconian mark to market rules) of ZERO. The real market value is not zero but more likely a discount of 35% but when the balance sheets of financial giants have billions taken off them overnight suddenly their bankers called in their loans and the result is some collapsed, others had to be sold. The banks bought these loans as well and their credit worthiness plunged and they stopped lending. When Wall St turns off the credit then Main St firms can’t borrow and then the stock market went into free fall. All because hand wringing doo gooding liberals FORCED banks to ignore all the normal rules of credit and good banking and lend to people who are least likely to repay. THAT is what caused the financial meltdown NOT Bush’s lack of oversight.

    Interestingly Sen McCain co-sponsored legislation in 2006 to reign in Fannie and Freddie and rank up the oversight and guess who killed it and prevented it from leaving the House and Senate Banking Committee? You guessed it – Democrat ranking member Barney Franks in the House (he who two years before told the world that there was nothing wrong with F & F) and Sen Dodds the ranking Senate Democrat who was the largest receipient of campaign donations from Countrywide – then the US’s largest home lender! So dont give us the crap about the lack of oversight of the Bush Adminstration.

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  20. Chris_C (224 comments) says:

    kiwi in america:

    You actually need a lesson in the policies of the Bush administration, and a good lesson on McCain. Well, to piss on your fire, McCain didn’t sponsor that bill until well after it failed in the Senate, and what he actually did was raise the issues two days after the regulator had revealed irregularities. Check the signup dates here:

    http://thomas.loc.gov/cgi-bin/bdquery/z?d109:SN00190:@@@X and compare them to the dates on the report from the regulator here: http://www.nytimes.com/2006/05/24/business/24fannie.html

    McCain signed up after the bill had died. Added to which, the senator in charge of that committee was at the time Richard Shelby – a Republican. To say that you can divide it over party lines when the bills go to the committee is naive. The committees are constructed to be resolutely nonpartisan, hence the head of the comittee was Shelby.

    Let’s add finally to that, the House version of the bill. This is what Bush said about it:

    http://www.presidency.ucsb.edu/ws/index.php?pid=24851

    “H.R. 1461 fails to include key elements that are essential to protect the safety and soundness of the housing finance system and the broader financial system at large. As a result, the Administration opposes the bill.”

    It’s all well and good to walk back into an administration 9 years prior to look for the faults in the system, but the reality is that the laissez-faire attitude toward financial regulation was a Bush policy – even after the Enron and Worldcom collapses. The Bush administration presided over significantly worsening economic conditions, an increasing deficit, increasing levels of subprime lending, exponential increases in mortgage fraud and the philosophy of trickle down economics. Those CDSs and CDOs you’re talking about – they’re the result of the deregulation that accelerated under the Bush administration’s watch.

    The failure of Lehman had root causes, but the crisis of confidence and the lack of available credit was caused, in the immediate circumstances, by the US government’s failure to secure a key institution. That was down to the Bush administration – who after that failure, immediately set about bailing out institutions left, right and centre.

    And now it’s a bad idea.

    Don’t try and rewrite what happened. McCain was a failure. I did used to be a supporter until he showed himself to be so. Obama isn’t doing anything that hasn’t been globally coordinated and isn’t going on across Europe in any country with severe exposure to the American market.

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  21. Redbaiter (13,197 comments) says:

    You’re absolutely full of left wing lies Chris.

    THE FINANCIAL MELTDOWN

    The Root Cause

    * According to Senator Chris Dodd (D. CT) the “root cause” of the problem is “the housing foreclosure crisis.”
    Not 100% accurate, perhaps–it’s really a credit crisis–but close enough for government work, especially from someone who has just happens to chair the Senate Banking Committee and who, completely coincidentally, has been such a conspicuous beneficiary of preferential mortgages and who, also coincidentally, leads the list of those who have received campaign contributions from Fannie Mae and Freddie Mac. (Guess who comes in 2nd and 3rd?)

    * But what caused the housing crisis to which Senator Dodd alludes? The housing “bubble.”

    * And what caused the housing bubble? “Sub-prime,” i.e., risky, mortgages; that is, mortgages made to people who, in the normal course of things would have to pay a premium in order to obtain a mortgage (if they could obtain one at all) because

    a) they had bad or non-existent credit
    b) their income was insufficient or
    c) both.

    Packaging the American Dream

    A home of your own. It’s part of the American dream. Work hard, save up for a down payment, pay your bills on time and, presto, you, too, can buy a home.

    For decades the government has done things to help Americans to realize the dream, e.g., graciously allowing citizens to keep some of their own money to help pay for the interest on a mortgage (the official term for this is a “tax deduction,” but I prefer my locution since it emphasizes the fact that it is YOUR MONEY we are talking about).

    But what about people who do not work hard (if they work at all)? What about people who have not saved up for a down payment? What about people who do not pay their bills on time (if they pay them at all)? Why shouldn’t they get to live the American dream?

    That was the question that led to (drum roll, please)

    “The Community Reinvestment Act”

    * The original Community Reinvestment Act was signed into law in 1977 by Jimmy Carter. Its purpose, in a nutshell, was to require banks to provide credit to “under-served populations,” i.e., those with poor credit. The buzz word was “affordable mortgages,” e.g., mortgages with low teaser-rates, which required the borrower to put no money down, which required the borrower to pay only the interest for a set number of years, etc.

    * In 1995, Bill Clinton’s administration made various changes to the CRA, increasing “access to mortgage credit for inner city and distressed rural communities,” i.e., it provided for the securitization, i.e. public underwriting, of what everyone now calls “sub-prime mortgages.”

    Bottom line? It forced banks to issue something on the order of $1.5 trillion in sub-prime mortgages.
    $1.5 trillion, i.e., one and a half thousand billion dollars in sub-prime,i.e., risky, mortgages, in order to push this latest example of social engineering.

    But wait: how did it force banks to do this? Easy. Introduce a federal requirement that banks make the loans or face penalties. As Howard Husock, writing in City Journal way back in 2000 observed: “Bank examiners would use federal home-loan data, broken down by neighborhood, income group, and race, to rate banks on performance. There would be no more A’s for effort. Only results—specific loans, specific levels of service—would count.” Way back in 1994, for example, Barack Obama sued Citibank on behalf of a client who charged that the bank “systematically denied mortgages to African-American applicants and others from minority neighborhoods.”

    * In 1997, Bear Stearns –- O firm of blessed memory –- was the first to get onto the sub-prime gravy train.

    * Fannie Mae & Freddy Mac — were there near the beginning, too.

    Anatomy of a bubble

    Step 1. The intoxication: “My house is worth millions!” From 1995 – 2005, the number of sub-prime mortgages skyrocket. So did the house prices.

    Step 2. The hangover: “Oh my God, my house isn’t selling. What went wrong?”

    Why didn’t someone try to stop it?

    Someone did: “The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago,” The New York Times, September 11, 2003.

    But someone intervened to stymie the Bush administration. Who? The New York Times reports:

    Supporters of the companies said efforts to regulate the lenders tightly under those agencies might diminish their ability to finance loans for lower-income families. . . . “These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. “The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.”

    Why didn’t someone else ring the alarm?

    Someone else did. In 2005, John McCain co-sponsored the “Federal Housing Enterprise Regulatory Reform Act,” which among other things provided for more oversight of Freddie & Fannie. The bill didn’t pass. Guess who blocked it?

    The bill was reintroduced in 2007. But again, no luck. Fannie Mae and Freddie Mac had friends in the Senate:

    * Chris Dodd, a recipient of “sweetheart” loans from a Freddie and Fannie backed company.

    * The junior senator from Illinois, i.e., Barack Obama, who turned to Jim Johnson, former head (1991-1998) of Fannie Mae, to help advise him on whom to pick for the vice-presidential slot on his ticket. From 1985 to 1990, incidentally, Johnson was managing director of Lehman Brothers. Remember them?

    * You might also want to check out one of Barack Obama’s other advisors: Franklin Raines, former CEO of Freddie Mac: see here , for example, or here, or here. (And thanks again to this great video for the outline I précis above.)

    The dog that didn’t bark.

    Perhaps the most amazing thing about the Times’s little drama that casts George Bush as the protagonist of our economic tragedy is not what’s in it but what isn’t. You will search in vain for the name “Barney Frank” or the phrase “Community Reinvestment Act.” But telling the story of our economic crisis with out those elements is like staging Macbeth without Macbeth or the witches.

    There is a great refusal in operation here, a refusal to face up to facts. Thomas Sowell touched on this in a typically percipient column a few months ago when he wondered, not without exasperation, whether facts still mattered in our political life. The current economic crisis seems to have benefitted Democrats. But how could that be? Sowell reminds us of some forgotten facts:

    Fact Number One: It was liberal Democrats, led by Senator Christopher Dodd and Congressman Barney Frank, who for years –- including the present year -– denied that Fannie Mae and Freddie Mac were taking big risks that could lead to a financial crisis.

    It was Senator Dodd, Congressman Frank and other liberal Democrats who for years refused requests from the Bush administration to set up an agency to regulate Fannie Mae and Freddie Mac.

    It was liberal Democrats, again led by Dodd and Frank, who for years pushed for Fannie Mae and Freddie Mac to go even further in promoting subprime mortgage loans, which are at the heart of today’s financial crisis.

    Alan Greenspan warned them four years ago. So did the Chairman of the Council of Economic Advisers to the President. So did Bush’s Secretary of the Treasury, five years ago.

    Yet, today, what are we hearing? That it was the Bush administration “right-wing ideology” of “de-regulation” that set the stage for the financial crisis. Do facts matter?

    None of this is new. But Gide was right: although everything has already been said, no one was listening, so it is always necessary to start over again. Go into your local bank. Look around. Somewhere you’ll see posted on the wall a notice advising customers that the bank’s lending practices follow the dictates of the Community Reinvestment Act and that federal bureaucrats regularly stop by to make sure the bank is abiding by its ruinous stipulations. When will it stop?

    http://pajamasmedia.com/rogerkimball/2008/12/22/who-caused-the-global-economic-crisis-hint-it-wasnt-george-w-bush/

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  22. kaya (1,360 comments) says:

    Those are some very long and complicated explanations re the financial crisis in the US.

    I thought it was simply related to the fact that the whole financial system is nothing but an elaborate Ponzi scheme using a fiat money system that runs on nothing scientific at all, merely faith? All that happened here is that the faith was tested by some real mathematics and found seriously wanting. It shows the fractional reserve banking system is a joke, we shouldn’t need to have “faith” in our financial systems.

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  23. kiwi in america (2,336 comments) says:

    Chris
    Your cutting and pasting actually proved my point. Bush said the House bill didnt offer ENOUGH oversight. Because of the bi-partisan way the committee system works (as you rightly point out), it required the ranking Democrats to support the bill for it to exit the committee and get a full house vote. Franks killed it in the House, Dodds killed it in the Senate – not because they offered insufficient oversight as Bush claimed but because they were protecting the hugely overpaid Clinton appointed execs (including CEO Raines who retired from Freddie with a $20 million bonus) from being too closely monitored. Watch the GOP ask for greater oversight and the Dems saying all is well at Freddie http://www.youtube.com/watch?v=_MGT_cSi7Rs

    I note you utterly fail to comprehend the sequence of events and treat us to the usual leftist laisse fair is evil rant. Carter passed the Community Reinvestment Act that got this whole ball rolling – Clinton empowered Fannie and Freddie to extend its reach higher and further. If you had any clue about the detail of how mortgage loans are bought and sold and what incentivised the bond markets to trade so fervently in sub prime MBS (mortgage backed securities) you would understand that ALL the major finance houses (not just Lehmans) were caught up in this. Was the Federal Govt to bail them all out? The TARP programme that Bush set up was in my opinion vital and necessary but it has been raided by the Dems for purposes other than what it was sold to Congress for by the Treasury (eg the Chrysler and GM bailouts). The left believes the moribund US economy could be stimultated by an $800 billion package of so-called shovel ready projects – the package was rushed through as soon as Obama took office because without it he said unemployment would go over 8%. Its now 9.5% and predicted to go over 10% nationally. Thats because most of the package was a leftist wishlist of pork barrel projects with the truly stimulatory projects not able to produce results for 2 years. THIS is the what happens when you think that a massive debt or tax funded spending boondoggle will reverse a recession when examination of all Federal Govt responses to every recession in the US since the Great Depression reveals that of the 3 main methods used to stimulate the economy, the method Obama has chosen was always the LEAST effective. The most effective – yes those evil tax cuts.

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