Republicans plan to dump billions into economy, pre-election

Below, is just one example of how Bush and the Republicans plan to pump up the economy prior to the election. The one quoted here, "$35 billion in Fannie Mae funds to the Bay Area of California", alone would produce a noticeable up tic in construction, etc.

But, you can be sure the plan is much more widespread. Those Republican CEO's are going to do everything they can to help Georgie keep his office. Look for lots of new manufacturing orders, bank deals, and other financial action, geared to make the economy "look" better as we get into election season.

From the S.F. Chronicle 08/27/03
<snip>
"Fannie Mae Pours Billions Into Area"
Mortgage giant Fannie Mae today will announce the infusion of $35 billion into affordable housing programs in the Bay Area - more than double the amount earmarked for such initiatives four years ago.<snip>
More: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2003/08/26/BU278976.DTL

The government part of this, is not all that unusual. Dems do much the same when in office. But, as most of the CEO's in this country are Republican, it will be interesting to see if they can have enough impact to actually turn the economy around, so that the issue of a failing economy is removed as a potent Democratic weapon.

Because of the manipulation that can, and is, occurring in the economy, I still think our best weapons against Bush, are his lies about Iraq, Enron (remember Enron??), energy, and the environment. Above all else though, should be the fact that Bush has betrayed the trust of the American people by lying to them, and in the process, is now emptying our Treasury with endless war. The economy can go up and it can go down, but the crimes that Bush has committed, will stay relevant, no matter what.

this will suck if they actually do this...nothing we can do to stop it..

corporate power/wealth far exceed that of the government today...They can do pretty much anything to help/hurt incumbent politicians..we'll see what happens

a good economy. We do need it, and the jobs that come with it. But, what will be interesting to monitor, are any "un-natural" actions taken to beef up the economy, that would be aimed at primarily benefiting Bush during the election cycle.

a good economy. People out of work make money for the rich types.

the electoral process...

by unregulated sub-prime mortgage brokers and lenders, and appraisers.

The victims are first time home-buyers with a government backed loans like Fanny Mae and the various first time for low income plans. Be very careful. The sub-prime brokers move in after the Fanny Mae neighborhoods are built, flipping the owners into sub-prime loans that eat up their equity and income. The result is huge numbers of foreclosures in these new neighborhoods. Of course, in the process, overworked Fannie Mae administrators are bilked out of government millions by the barrel load. Homeowners lose their homes and savings. Neighbors in the area are left in homes that appraise for less than they are mortgaged for. Empty house sit and attract vandalism. It looks like an upshot of the deregulation of the S&L's to me, and an opening of an un-regulated 'free' market in this area of finance.

If this is the 'plan' for the Bay Area be very careful. Get first-time buyers educated to the sub-prime lenders who will show up after they have their Fanny Mae home and have lost their jobs (probably after the election)...

The republicans will then campaign on the high foreclosures rate brought on under a 'dem' governor, congressperson, and state legislature even though they had little to do with the predatory lending practices that a 'deregulated sub-prime lending environment' allows to exist....

I am not so certain that some of the builders/contractors are not in this as well from the get-go, since many of the homes that end up in these situations seem to suddenly come up with major construction problems as well to add insult to injury as far as these consumers are concerned.

I figure that if Bush actually governs reasonably from March or April through October 2004, instead of in the dictatorial, demagogic fashion he's been going for the last 2½ years, he will buy off enough of the ill will he's generated by his corruption.

Democrats should inoculate the public against this by reminding folks of what the Bushistas have actually done to them (like the new rules allowing for more air pollution), and predicting that they will suddenly turn things around for the election year. Start saying it now, and people will know to look for it happening in six months. At that time, you say "Told ya so, don't be fooled."

And that's a fact!

you may remember, the stock market was on an upswing a couple months before the election, prompting the media whores to claim that the rescession was over, and all was well, thanks to Whistle Ass, and then just days after the election, all that money drained out of the market. It's going to be up to the sheeple to see through this charade, which scares me. :scared:

n/t

Will the unemployed find housing affordable at any price?

I expect we'll see gas prices and interest rates decline as well. I expect The Fed will also do whatver they can to push interest rates down too, after all, Greenspan is a certified Repuglian. As far as interest rates on the Fannie Mae loans, they are kept low, despite market rates, to allow affordability for the target group.

Politic is one thing, CEOs have a fiduciary duty to their shareholders to run their company in a prudent and thoughtful manner.

The action you are describing breaks at least 15 securities laws and statutes that I am aware of. No one is going to risk getting strung up by his nuts and left swinging , because you all know were it true you would be left high and dry by * and his cronies.

No, the crass manipulation of your company as a vehicle for political partisanship is not at all usefull; it implies that they could have done so earlier but did not ; and no CEO , no matter HOW neocon he is, is able to restrain getting his company more profitable sooner rather than later.

That being said, the FED itself is where you should be looking; they routinely flood the money supply prior to an election as an accomodation; but this is done no matter who is in power.

Seeing as how the stock market valuations are way ahead of themselves and the "off the books" Iraqi invasion cost will be hitting home eventually, they should be making moves right now to take effect in a year; and there's just not that kind of wiggle room.

By then it should be more than apparent the neocon strategy for the economy involves removal of blue collar workers from the middle class; as they view it , this is the source of all their troubles.....an affluent work force. Hence, their campaign to take us back to the good old 19th century and turn back all social progress made in the 20th.

This is why they have been swearing up and down that the market was the one and only indicator of the state of the economy.

Plus, allowing their destructive policies to wreck havoc on the market allows them to buy up shares for dirt cheap. And soon, they won't have to pay taxes on their dividends. They will never pay taxes again.

Beware the Republican definition of "housing" ...

Any enclosed area large enough to conceal an anti-ballistic missle launcher.

Affordable housing... cost of Antimissle launch site that gets lost in the pentagon accounting system.

I've already heard of Bush holding some kind of talks in Coastal Georgia (G6 summit, maybe?) in order to "pump millions of dollars into the area."